Car loan finance.
This query is : Resolved
surbhi agrawal
(Querist)
14 December 2016
Hello, I want to know that how banks calculate and disbursement of car loan amount after retaining their margin %. Lets suppose,i want to buy Rs.15 lakh car and having a net profit of Rs.6.5 lakh for the two preceding year of the relevant current year of applying a loan, Please let me know the criteria of assessing loan granting approach of banks ,as my client has a relevant query of the said example Do reply
Unnikrishnan B
(Expert)
14 December 2016
It duffers with each bank .in your case you have net profit of 6.5 lakhs
Net profit. 6.5 lakhs
Add depreciation xx
Add other income. xx
(Including exempted income)
Less income tax paid/ payable
Less extraordinary income
Net amount. xx
Less existing liabilities. xx
Eligible amount. xx
60 % of the eligible income xx
(% Varies according to the amount of income)
This is a general reply
Less
Net
Net profit. 6.5 lakhs
Add depreciation xx
Add other income. xx
(Including exempted income)
Less income tax paid/ payable
Less extraordinary income
Net amount. xx
Less existing liabilities. xx
Eligible amount. xx
60 % of the eligible income xx
(% Varies according to the amount of income)
This is a general reply
Less
Net
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