Are you thinking of buying a car? Agar haan, to khudse ek aur sawal puchiye – Kya mujhe tension hai about how to arrange all the money ek saath? If the answer is yes, humare pass ek solution hai apke liye, i.e. Car Loan.
Now let us simplify a Car Loan for you in three questions:
Suppose Ram wants to buy a car from any company but uske paas paise nahi hai to cover the cost of the car. So he reaches a bank and asks them to lend him money. Bank, loan dene se pehle Ram ka record check karte hai to see if he can be given a loan. If yes, then jo amount bank car company ko deta hai that is known as Car loan.
It is the interest rate jo bank charge karta hai Ram se for the loan given. Interest rate ispe bhi depend karta hai ki kitne time ke liye loan liya gaya hai. For example, if Ram promises ki wo loan 12 months mein bhar dega then his interest rate will be say 10% but agar wo loan 24 months mein bharta hai then the interest rate will be more than 10%. So Ram has to pay this interest rate every month
Bank ye nahi chahta ki aap loan ek sath bhare isliye they have introduced Kishts. Equated monthly installments (EMI)/ Loan ki kisht is the monthly amount that Ram has to pay taki loan dheere dheere pura bank ko bhar sake. Loan ke amount ko ek fixed time me pay karna hota hai. For example, if Ram takes a loan of Rs. 1 lakh for a period of 12 months then usse, let’s say, har mahine Rs. 8333 ki kisht bharni padegi. Lekin agar wo 24 months ke liye loan leta hai, to usse Rs. 4166 ki kisht bharni padegi. But keep one thing in mind that 24 months ke loan pe interest rate will be high. Hence, at the end of the month, Ram has to pay kisht with interest.
Hence, after knowing the basics of car loan, you can safely sit back and imagine your family and you driving comfortably in a car.
Car loan lena simple hai. Ab apni dream car ke liye apply karo.
Read more about how to fill a cheque