You’re in the market for a new car, and you’ve decided to go with a loan from Federal Bank. But which loan is right for you? Here, we’ll take a look at the features of the Federal Bank Car Loan so that you can make an informed decision.
Maximum Amount of Loan
Federal Bank offers car loans up to 100% of Ex-Showroom price, which is one of the best deals in the market. So, you can be sure that you’ll be able to get the funds you need to buy your dream car. Interest rates start at 8.50%, which is pretty reasonable, and you also have the option of choosing a flexible repayment tenure of up to 7 years. This gives you plenty of breathing room to fit your car loan into your monthly budget.
Low Rate of Interest
When it comes to car loans, Federal Bank is one of the most preferred options around. One of the key reasons for this is the low rate of interest that the bank offers. This means that you can end up saving a lot of money in the long run, which is always a good thing. So make sure you keep Federal Bank in mind when you’re looking for a car loan.
Tenure
Federal Bank offers car loans with flexible tenure options, so you can choose the one that suits your needs. With a car loan from Federal Bank, you can buy a new or used car, and you can even use the loan to pay for the registration and insurance premiums. The interest rates are also very competitive, so you can rest assured that you’re getting the best deal possible.
Additional Benefits
When you take out a car loan from Federal Bank, you’re not just getting a loan for the car. You’re also getting some great additional benefits. For starters, you’ll be eligible for an accident insurance policy that will cover the cost of repairs in case of an accident. Plus, you’ll get a personal accident cover for yourself and your family, which could come in really handy if something happens while you’re driving. And that’s not all. You’ll also get a Roadside Assistance policy that covers the cost of towing and repairs, as well as reimbursement for hotel expenses in case of an accident. So when you take out a car loan from Federal Bank, you’re really getting a lot for your money.
No Pre-payment Charges
That’s a big relief, isn’t it? You don’t have to worry about any pre-payment charges, so you can always pay off your loan as soon as you can. This also means that you can switch to a lower interest rate plan whenever you want, without having to pay any extra charges. And if you’re looking to sell your car before the loan is paid off, you can do that without any penalties too.
Conclusion
A Federal Bank Car Loan can be a great way to buy that car you’ve always wanted. In this article we’ve mentioned some of the significant features you need to know about. Apply for a Federal Bank Car Loan today and get behind the wheel of the car of your dreams!
