Jeep Compass Price

Check Jeep Compass Price in India with low EMI option

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Jeep Compass has won the hearts of many with its beauty and unique features. The impact of Jeep Compass India launch is visible everywhere as it has now become the talk of the town! 2017 Jeep Compass price currently ranges from Rs. 14.95 lakhs to Rs. 20.65 lakhs. Thus, you can now become the owner of this latest SUV car by paying just Rs. 24,000/- per month EMI.

All this is possible if you apply for the best car loan. The current falling lending rates on car loans have made it easier for the customer to get a affordable car loan and enjoy the ride. If done proper research, you can get the rates as low as 9% per annum and also the car loan for up to 100% ex-showroom price. So, have a look at the car loan rates at some of the top banks and also check the eligibility to apply for a car loan.

Jeep Compass Price

Car Loan Interest Rates

Below are some of the top car loan lenders in India where you can apply for a car loan and get low EMI option:

  1. SBI Car Loan Interest Rate- 9.10% per annum onwards
  2. ICICI Car Loan Interest Rate-12.75% per annum onwards
  3. UCO Bank Car Loan Details- 9% per annum onwards

Eligibility Criteria

Have a look at the eligibility criteria for a car loan at top banks in India:

ICICI Car Loan Eligibility-

For Salaried:

  • Age must be between 25-58 years
  • Minimum annual salary should be ₹2.5 lakhs
  • Overall work experience of at least 2 years with the experience of minimum 1 year with the current employer

For Self-employed:

  • Age must be between 28-65 years
  • Minimum annual income should be ₹2 lakhs
  • Minimum 1 year of stability in the profession

SBI Car Loan Eligibility

For Salaried:

  • Age should be between 21-65 years
  • Net annual salary of the applicant and/or co-applicant, if any, together should at least be ₹2.5 lakhs
  • Maximum loan amount up to 48 times of net monthly salary

For Self-employed:

  • Age should be between 21-65 years
  • Net annual salary of the applicant and/or co-applicant, if any, together should at least be ₹4 lakhs (You can club the income of co-applicants such as your spouse, son, daughter, sister or brother)
  • Maximum loan amount up to 4 times Net Profit or Gross Taxable income as per ITR after adding back depreciation and repayment of all the existing loans running in your account

For Agriculturists:

  • Age should be between 21-65 years
  • Net annual salary of the applicant and/or co-applicant, if any, together should at least be ₹4 lakhs
  • Maximum loan amount up to 3 times of net annual income

HDFC Car Loan Eligibility-

For Salaried:

  • Age of the applicant should be between 21-60 years
  • Minimum annual income of the applicant should be at least ₹1,80,000
  • Minimum work experience of 2 years is required in addition to at least 1 year of experience with the existing employer.
  • Telephone at Residence or Office/Post Paid Mobile Connection is also mandatory

For Self-employed:

  • Age of the applicant should be between 21-65 years
  • Minimum annual income of the applicant should be at least ₹60,000-₹1,50,000
  • Minimum experience of 2 years is required in the same profession
  • Telephone at Residence or Office/Post Paid Mobile Connection is also mandatory

Axis Bank Car Loan Eligibility-

Salaried Individuals:

  • Should have attained the age of 21 years while applying for a loan
  • Maximum age at the time of maturity of loan should be 70 years
  • Annual income of a minimum of ₹2,40,000 is necessary
  • There should be a continuous employment for a period of at least one year

Self-employed Individuals:

  • The applicant should be at least 18 years old while applying for a loan application
  • Maximum age while the loan matures needs to be 75 years
  • Annual income of a minimum of ₹1,80,000 is necessary
  • A business stability of a period of at least three years is required

Self-employed Non-individuals:

  • Annual income of a minimum of ₹1,80,000 is needed for selected car models while for others the requirement is a minimum of ₹2 Lakhs
  • Business stability of a period of at least three years  is needed

Priority/Wealth/Privee customers eligible for a loan:

  • Customers with a vintage of 6 months
  • Minimum Average Quarterly Balance (AQB) as below:
  • An AQB of ₹1 lakh for last 2 completed quarters AQB requirement to be met for both the quarters
  • Maximum loan amount restricted to 3 times the AQB in the last 2 quarters

Salary Customers eligible for a car loan-

  • Customers who have a Salary A/c with Axis Bank since the past 3 months
  • Those who work with the following organisations:
    • Public Limited and Private Limited Companies
    • MNCs
    • Permanent employees of State / Central Government
    • Permanent employees of Public Sector Undertakings
    • Permanent employees of reputed schools / colleges

Other factors

    • Minimum 21 years of age
    • Maximum 70 years of age at loan maturity
    • Minimum Net Annual Salary of ₹2,40,000 p.a.
    • Income eligibility based on latest salary slip and Form 16
    • Minimum 1 year of continuous employment

Kunal Jaiswal is a digital marketing Executive and has written many topics in the related field.

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