What are the conditions that a self-employed individual has to fulfill in order to avail of a car loan?
A self-employed individual has to fulfil the following basic conditions – • The age of the individual should be at least 21 years and not exceed 65 years at the end of the loan period. • His net profit should be greater than Rs. 60,000. • His Bank Account should be at least 1 year in operation. • He should should have been in business for at least 3 years. • He should have a telephone. • He should have a minimum 1-year stay at the current residence.
