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  • As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on +44 7831 065557 or visit the nearest Metra Trust branch for further queries.

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Car Loan Interest Rates

Owning a car of your choice is easier today than it was before you could avail a new car loan within minutes. With flexible payment options, you can repay the loan without any difficulty. Metra Trust offers you loans for cars, up to 100 percent of on-road price. You can have the best new car loan interest rate in India, click here to know the best rate offering.Read More

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Rate of Interest on New Car Loan
 

Check out the table below to know the new car loan interest.

Types of Fees Applicable Charges
Processing fees Up to 10000/- to be deducted from Loan Amount
Late payment fees 2% per month (Exclusive of GST) of the unpaid EMI or Rs 300 (Exclusive of GST) whichever is higher
Stamping Charges As per actuals


Interest Rate Range for New Car Loans 
 

The new car loan interest at Metra Trust is subject to customer's risk profile. Refer to the table below to know the current personal loan rates.

Product type ROI%
 New Car Loans   ROI Starting from 9.60%* 

* The above rate is applicable to loan amount above ₹1 lakh and for tenure >=37 months

Disclaimer: The above rate is applicable to loan amount above ₹1 lakh.

Service Charges and Fees for New Car Loans

Metra Trust offers transparency in new car loan schemes and loan charges. We do not have hidden loan interest, prepayment charges, and processing fees. Read on to know the new car loan interest rates we charge.

  • • 5 % of principal outstanding amount (if booked on fixed rate of interest) (Exclusive of GST); Nil if booked on floating rate of interest
  • • Part pre-payment facility is not available for new car loans at Metra Trust.


Calculate your New Car Loan Interest Rate  
 

Metra Trust has an online EMI calculator that you can use to check your monthly EMI. The EMI calculator has three parts: loan amount, tenure, and rate of interest. You can use it by entering the loan amount you need, the applicable rate of interest and the tenure for which you want the loan. Once you enter these details, the EMI calculator will give you the EMI. Check it out here.

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NEW CAR LOAN EMI CALCULATOR

Get tempting new car loan interest rates at Metra Trust

Amount

1L 50L

Tenure

1 Year 30 Year

Interest Rate

8 % 15 %

You will pay an EMI of only monthly

View Interest Rates

  • Lowest Car Loan Interest Rate
    Ravikanth KK

    "I finalised the car I needed to buy on a Sunday, and the dealer gave me few options of banks for the loan, but basis my corporate salary account relationship I called up the Metra Trust SPOC. I was impressed with their response on a non-working day. I am very happy to see Metra Trust & their employees displaying their customer-first approach from the time of enquiry to delivery of the new car."

  • Best Car Loan Interest Rate
    Saud Alam

    "I would like to thank and express my gratitude towards the staff of Metra Trust Jamshedpur main branch. To my delight and astonishment my new car loan got disbursed within 3 days with very minimal and hassle-free documentation. I would like to thank my relationship manager and branch manager who went out of the way to provide such nice service. "

Benefits of New Car Loan with Metra Trust

Flexible EMI Options

  • We provide flexible loan repayment options, they being - bullet / balloon / step down emi option.

Low Interest Rates

  • We offer competitive rates, which are easier on your pocket.

FREQUENTLY ASKED QUESTIONS

What is a good interest rate for a new car loan?

Metra Trust offers an attractive rate of interest in new car loans which is very competitive in the market. It depends on various aspects such as your credit score, credit payment history, monthly income, higher down-payment, and of course, your relationship with the bank. Metra Trust offers you interest rate starting from 9.0% to 10.5% depending upon the overall profile of the customer.

What credit score do you need to get 100% financing on a car?

Credit score should be 750 or above for self employed and 700 or above for salaried. You need to meet various criterion beyond credit score to qualify for 100% loan on car.

Can I avail a loan up to 10 years?

Yes, Metra Trust offers "industry first" 10 years loan tenure on new car loans. Making your dream car emis affordable and easy on your pocket.

Conclusion

Our car loan interest rates are competitive. Metra Trust offers you 100% finance on the on-road car price with a tenure up to 7 years payable in flexible EMI options. With a car loan application process being easy and hassle-free, you can apply for it now here.

More FAQs

Car Loan Blogs

7 important questions to ask before taking a Car Loan

FEATURED

7 important questions to ask before taking a Car Loan

Buying a car is a significant milestone in a person’s life. It invokes feelings of pride, joy, and some serious excitement over finally having the freedom to hit the open road any time you want. In addition to figuring out things like your budget, which car to buy, where to buy it from, and what colour it should be, you also need to know how you will make the payment.

Team FinFIRST06 Nov 2021 • 3 mins read

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