Apply for Maruti Suzuki car loans online

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Pratham
For Finance related inquiries Please Call :
Sarjapur : 9980162698 HSR Layout : 9686860457 Queens Road : 9686860468 Anekal : 9591997983

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Get car loan for new Maruti Suzuki Cars in Bangalore:

At Maruti Finance, Pratham Motors - Bangalore, car finance for Maruti Suzuki cars are offered at a transparent rate of interest, saving your valuable time, cost and the inconvenience in searching for the best deals available around. We bring together the major Auto Finance Companies of the country under one roof. We have been able to offer the convenience of offering finance from in-house. With better interest rates and more transparency, Maruti Finance helps you realize your dreams of owning a car a cake walk. Starting from selecting the right financier to the completion of the loan formalities and documentation, we are accessible for you at every step till the delivery of your dream car home. Call Pratham Motors Now : Contact : 9980162698, and make your dream of owning a brand new Maruti Suzuki new car true!

Pratham Motors Exclusive Finance Process

  • Special Rate of Interest .
  • Maximum Tenure up to 7 years.
  • Weekend Spot Approval.
  • No Pre-closure charges.
  • No Processing Fee.
  • Spot login and Same Day Approval.
  • Service at your doorstep.

Salaried Individuals:

  • Photo
  • Identity & Address Proof
  • Last 6 months Salary Crediting Bank Statement
  • 3 months' Pay Slip
  • Form 16 for last 2yrs
  • Appointment Letter & Relieving Letter
  • Post-dated cheques / EMI
  • Signature Proof

Self-Employed Individuals:

  • Photo
  • Identity & Address Proof
  • Last 6 months Bank Statement
  • 2 yrs. IT Returns (saral , computation of income, balance sheet, P & l A/C)
  • Registration Certificates
  • Post-Dated cheques/EMI
  • Signature Proof

Partnership, Public Ltd and Pvt Ltd Companies:

  • Partnership deed & letter of authority
  • MOA & AOA
  • Board Resolution
  • Last 6 months' Bank Statement
  • 2 years' IT Returns (Saral, Computation of Income, Balance Sheet, P & l A/C)
  • Identity & Address Proof (Signing Authority)
  • Post-dated cheques/ECS
  • Signature Proof (Signing Authority)

No income Proof:

  • Tax paid Challan/ Electric Bill /Water Bill/Sale Deed
  • Last 6 months Bank Statement
  • Identity & Address Proof
  • Five photos
  • Cheques/ ECS
  • Signing Proof

EMI calculation made easy for Car Loan. Just enter the Loan Amount and Interest Rate to Calculate the EMI.



Months EMI(Rs.)
12
24
36
48
60
72
84

FAQs

What are the finance formalities at Pratham Motors?

You can get your car in seven easy steps!

  • Document Collection
  • File Login
  • Field Verification
  • Approval
  • Agreement
  • Disbursements
  • Delivery of Car
  • Required documents:
  • For Salaried Individuals:

Required documents:

Salaried Individuals:

  • Photo
  • Identity & Address Proof
  • Last 6 months Salary Crediting Bank Statement
  • 3 months' Pay Slip
  • Form 16 for last 2yrs
  • Appointment Letter & Relieving Letter
  • Post-dated cheques / EMI
  • Signature Proof

Self-Employed Individuals:

  • Photo
  • Identity & Address Proof
  • Last 6 months Bank Statement
  • 2 yrs. IT Returns (saral , computation of income, balance sheet, P & l A/C)
  • Registration Certificates
  • Post-Dated cheques/EMI
  • Signature Proof

Partnership, Public Ltd and Pvt Ltd Companies:

  • Partnership deed & letter of authority
  • MOA & AOA
  • Board Resolution
  • Last 6 months' Bank Statement
  • 2 years' IT Returns (Saral, Computation of Income, Balance Sheet, P & l A/C)
  • Identity & Address Proof (Signing Authority)
  • Post-dated cheques/ECS
  • Signature Proof (Signing Authority)

No income Proof:

  • Tax paid Challan/ Electric Bill /Water Bill/Sale Deed
  • Last 6 months Bank Statement
  • Identity & Address Proof
  • Five photos
  • Cheques/ ECS
  • Signing Proof

Please allow 24-48 hours after submission of aforesaid documents for approval and final dispersal.

What is CIBIL?

CIBIL stands for "Credit Information Bureau of India Limited". Incorporated in 2000, CIBIL is a credit-rating to facilitate approval of loans to individuals and companies. It provides comprehensive credit information report (CIR) for commercial and consumer borrowers. A good COR reflects a good payment history derived from past payments, existing credit line and sources of income. Further detailed information can be found at https://www.cibil.com

Why do loans get rejected?

  • Negative Field Investigation.
  • Incomplete Documentation.
  • Invalid Document.
  • When the customer doesn't meet credit worthiness parameters of the issuing bank.
  • Defaulter list of CIBIL.
  • Discretion of Loan Sanctioning Agencies.

What are Floating and Fixed Rates of Interest?

  • Depending on the bank, customers have an option of going in for Floating or Fixed Car Loan Rate. Fixed Rate as the name suggests offer fixed rate of interest on a reducing basis. The rate remains fixed during entire tenure of loan. Floating Rate move downwards when general interest rate registers a fall and move up when general interest rates move up.
  • Customers should clarify with bank before availing any of the options.
  • Fixed Rate of Interest with all private finance institution and floating rate of interest with PSU banks.

What is EMI?

  • EMI- Equated Monthly Installment is the total amount paid by the customer every month during the total loan tenure.
  • Is recovered by the bank in the form of Electronic clearing of payment from your bank account.
  • If ECS facility is availed, banks normally take undated security cheques.

How is the Rate of Interest computed?

Interest rate will be decided by the bank based on the customer profile and their financial stabilities (Loan Amount, EMI and Tenure).

What is down payment?

It is the difference between the Price of the vehicle and the Total Amount Paid by the customer upfront.

What is FI (Field Investigation)?

Field Investigation is done by bank representative to verify the contact point of the customer. Customers should ensure that he is present &co-operate during investigation to enable positive FI. FI has to be compulsorily positive for the loan to be sanctioned.

What do customers need to do for faster approval of loan?

  • Ensure documents submitted are complete with proper authorization & signatures at all required places.
  • Proof of Current Address along with Permanent Address is provided.
  • Presence at the Address during Field Investigation.

How can I increase/reduce my EMI amount?

Not possible with private banks but only nationalized banks provide this option.

What if I want to sell my hypothecated vehicle during the tenure of loan? Do I need to take approval from bank?

Since hypothecation status name of financier gets updated on your Registration Certificate (RC), it is necessary to get an NOC from financier (Form 35) to facilitate removal of hypothecation status from your RC. This change in vehicle ownership status will enable you to sell your vehicle with all necessary documentation. The new owner can also re-register the vehicle without any issues.

What Is Foreclosure?

Foreclosure is a term stating pre-closure of loan before the Total Loan Tenure. Banks generally attach a service charge to enable foreclosure.

Private Banks charge anywhere between 4-5% outstanding principal amounts, nationalized banks charge Nil. The changes are subject to review periodically; please clarify with your bank during loan sanctioning process.

What are the formalities & complications involved during switching of bank?

Switching of loan to a different bank is not permitted as per the current financial regulations relating to vehicle loans.

*Finance approval and its sanction is the sole discretion of banks/ finance company.