FAQs (Car Loan)

 

Q. What makes of cars does TSCB finance?
A. We finance all makes of new cars, and secondhand cars not more than five years old. Thus, you are free to choose any vehicle you want to own.

Q. Can my spouse's income be included for calculating the loan amount?
A. Yes, your spouse's income can be included provided he/she guarantees the loan.

Q. Do I have the option of choosing a fixed or floating rate for the loan?
A. You have the option to avail the loan with either a fixed interest rate or a floating interest rate. In the case of a fixed rate loan, the interest rate on the loan will remain fixed through the entire tenure of the loan, whereas in the case of a floating rate loan, the interest rate could decline or rise in line with the changes in the State Bank Advance Rate (SBAR). Fixed Rate option is available only for Car Loans upto Rs. 5 lac.

Q. What is the repayment schedule like?
A. The minimum amount that you are expected to pay every month is the EMI.You can repay the loan in upto 84 EMIs.