Best Banks Car Loan Providers in Imphal
Feature | HDFC Bank | Private Bank |
Kotak Mahindra Bank
|
Interest Rate (p.a.) | 7.35 % - 7.95 % | 8.5 % - 9.5 % | 11 % |
Min Loan Amt | Metro : 1 Lac & Non Metro: 75000 | 75000 | 75000 |
Max Loan Amt | 1 Cr | 1 Cr | 1 Cr |
Loan Tenure | Upto 7 Years | Upto 5 Years | Upto 5 Years |
Processing Fee | 1999 - 4999 + Tax | 0.25% to 1.50% | 0.25% to 1.50% |
Preclosure Chgs | 2%, Nil after 24 months | 2%, Nil after 36 months | Nil |
Loan to Value (LTV) | Upto 100% on Ex- showroom | Upto 95% on Ex- showroom |
Upto 90% on Ex- showroom
|
Car Loan Imphal Features
A car loan is a financial help given by Financial Institutions to fulfil your dream of having your own car. A car loan provides significant funding for purchasing a car which can be on Ex-Showroom Price or On-Road Price of the car.
Car Loan is a secured loan with easy repayment options. The loan amount is offered on Interest rate charges which vary from bank to bank.
Car Loan Imphal Interest Rates
Bank | Processing Fee |
Prepayment Charges
|
HDFC Bank Car Loan | (1999 - 4999) + Tax |
2%, Nil foreclosure charges after 24 months
|
Axis Bank Car Loan | 1 % to 2.50% | Nil |
Private Bank Car Loan | 0.25% to 1.50% |
2%, Nil foreclosure charges after 36 months
|
SBI Car Loan | 500/- to 0.50% | Nil |
Kotak Car Loan | 1% to 2% |
2.25% of fore closure amount if closed 1 month ahead of the tenure.
|
IIFL Car Loan | Nil | Nil |
Muthoot Car Loan | Nil | Nil |
Manappauram Car Loan | Nil | Nil |
PNB Car Loan | 0.70% to 1% | Nil |
Canara Bank Car Loan | 0.01 | Nil |
Andhra Bank Car Loan | Nil | Nil |
To check Car Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates
Car Loan Imphal Documents Required
Documents required for car loan are as followed:For Salaried Individuals:
- Proof of Identification: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: Latest 3-month salary slip with form 16
- Residence Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
For Self Employed Individuals:
-
- Identification Proof: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: Latest ITR
- Address Proof(anyone): Ration card/ Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
Car Loan Imphal Eligibility Criteria
To obtain the loan amount, a person must meet the Eligibility criteria for car loan.For Salaried Applicants
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum employment: 1 year in current employment and a minimum of 2 years of employment
- Minimum Annual Income: Rs.100000 net annual income
For Self-Employed Applicants
-
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum employment: At least 3 years in business
- Minimum Annual Income: Net profit Rs. 60000 per annum for standard cars and Rs.100000 per annum for mid-sized and premium cars.
Car Loan for Major Car Manufacturers in Imphal
TABLE WILL APPEAR Apply for a Car LoanProcessing Fees / Prepayment Charges on Car Loan Imphal
Category | Details |
Processing Charges |
1999 - 4999 + Tax
|
Prepayment |
No prepayment is allowed until 12 EMIs are paid
|
Preclosure |
No foreclosure is allowed until 12 EMIs are paid
|
Prepayment Charges
|
13-24 months: 2% of loan principal outstanding
|
>36 months: Nil Charges
|
|
Stamp Duty |
As per state laws
|
Cheque Bounce Chgs |
₹ 550/chq + GST
|
Floating Rate of Interest | Not Applicable |
Overdue EMI Interest |
2% p.m.(on overdue amount)
|
Amortisation Schedule Chgs | Rs 200 + GST |
CIBIL Score Required for Car Loan in Imphal
CIBIL score plays an important role in deciding the approval of a loan. The CIBIL score provides a clear picture of credit history and any outstanding dues standing against the applicant. The credit history is necessary to disburse the loan amount after checking the eligible CIBIL score. Normally, CIBIL scores 750 or above considered as good by many leading banks.
Car Loan Imphal Contact Number
You can also call on 9878981166 or visit Dialabank to get a car loan with instant approval and extra benefits. we would be happy to assist you with all your needs.
Apply for a Car LoanPre Calculated EMI Table for Car Loan Imphal
Rate
5 Yrs
4 Yrs
3 Yrs
10.50%
2149
2560
3250
11.00%
2174
2584
3273
11.50%
2199
2608
3297
12.00%
2224
2633
3321
12.50%
2249
2658
3345
13.00%
2275
2682
3369
13.50%
2300
2707
3393
14.00%
2326
2732
3417
14.50%
2352
2757
3442
15.00%
2378
2783
3466
Car Loan EMI Calculator Imphal
About Imphal
Imphal is the capital of Manipur, a state in northeastern India. On the Imphal River, Kangla Fort was once the seat of local rulers, and now houses relics. On the south side of the centuries-old Polo Ground, Manipur State Museum has displays including tribal artifacts and a large royal boat.
FAQs about Car Loan Imphal
✅ Can I get a loan to purchase a used car in Imphal?
Yes, you have to use your credit history and previous arrangement with the prospective bank or any other lender in Imphal to negotiate the interest rate on your car loan. Regularly paying your past loans/credit cards EMI with your prospective bank or any other lender will help you get a car loan with a lower interest rate.✅ What is the typical tenure of a car loan in Imphal?
A car loan can last anywhere between one to five years. The higher the EMI, the shorter your loan term, and the opposite is valid for longer car loan terms. Currently, only limited lenders are offering car loans on terms of up to seven years in Imphal.✅ Do I need a loan guarantor or co-borrower in Imphal?
If you are unable to meet the lending institution’s eligibility standard, such as monthly salary, age, or credit score, a loan guarantor or co-borrower is required. You can even apply for a car loan of your own.Other Car Loan Cities in Manipur
Car Loan Tura | Car Loan Aizawl |
Car Loan Shillong | Car Loan Mokokchung |
Car Loan Lunglei | Car Loan Kohima |
Car Loan Aizwal | Car Loan Dimapur |