Ratnakar Bank Car Loan

Hi I want to take car loan from the Ratnakar Bank so can you please tell me that what is the requirement and minimum income required for the loan???

Well the loan for cars ranging from small & compact cars to super premium cars, SUVs and MUVs


New Car Loan amount ranging from Rs. 50000 upto Rs. 30 Lakhs for salaried individuals and upto Rs. 1 Crore for self-employed individuals and self-employed professionals

Convenient loan repayment tenure from 12 to 60 months

LTV upto 90% of the value of the New Car (includes Ex-Showroom Price + VAT + Insurance)

New Car loans at attractive fixed rates of interest available

Requirements for the Car Loan -Salaried Person


Applicant’s age should be minimum 21 years and maximum 58 years at loan maturity (maximum 60 years for Govt. employees.)

Minimum total work experience of 3 years required.

Minimum one landline contact at residence or office and a post-paid mobile connection required.

Minimum income required

Segment Tier1 – Small Tier2 – Compact Tier3 – Mid-sized Tier4 – Large-
sized Premium Cars

Minimum Income Rs.1 Lakh Rs.1.5 Lakhs Rs.3.5 Lakhs Rs.5.5 Lakhs Rs.9 Lakhs


Requirements for the Car Loan Self-Employed Individuals / Professionals

Applicant’s age should be minimum 25 years and maximum 65 years at loan maturity.

Minimum 3 years of experience required in the same line of business.

Minimum one landline contact at residence or office and a post-paid mobile connection required.

Minimum income required

Segment Tier1 – Small Tier2 – Compact Tier3 – Mid-sized Tier4 – Large-sized Premium Cars
Minimum Income Rs.1 Lakh Rs.1.5 Lakhs Rs.3 Lakhs Rs.4 Lakhs Rs.7.5 Lakhs

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Answered By StudyChaCha Member