Latest Updates

Do I need collateral for a car loan?

Just as the name suggests, a car loan is a loan granted to an individual interested in buying a car. Therefore a car loan is a secured loan where the car you buy acts as a collateral. Therefore, there is no additional collateral requirement for a car loan. However, you do have to get the RC (registration certificate) of the car endorsed with the bank. This endorsement is cancelled after repayment of the loan is completed.

Leave a Reply

Your email address will not be published. Required fields are marked *

Share

    Get A Call Back from us

    Discuss your requirements with our Loan Specialist

    Select Your Service