Best Banks for Car Loan in Tirupur
Car Loan Tirupur Features
In a car loan, we borrow money from the bank or non-banking financial organization at some rate of interest for a period of time. Under this loan, the bank provides you a loan to buy a new or a used car. Bank can finance your car up to 90-95%% of the ex-showroom value.
You have to pay some rates of interest to the bank and non-banking companies. The car loan usually comes in the category of secured loan. A secured loan is a loan where you pledge something to the bank as a security.
However, you don’t pledge anything from your existing property in a car loan but you pledge the car to the bank that you are buying. Bank or other lender is completely liable to bind your car if you don’t return the loan.
Car Loan Tirupur Interest Rates
Bank
Processing Fee
HDFC Bank Car Loan
(1999 - 4999) + Tax
Axis Bank Car Loan
1 % to 2.50%
Nil
Private Bank Car Loan
0.25% to 1.50%
SBI Car Loan
500/- to 0.50%
Nil
Kotak Car Loan
1% to 2%
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 Tirupur Documents Required
The main documents required to get a car loan approved in Tirupur are as follows:
For Salaried Individuals
- Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: – Latest 3-month salary slip with form 16
- Residence Proof: Any one of the following (Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill)
- Bank Statement: Last 6 months.
For Self Employed
- Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: – Latest ITR reports.
- Residence Proof: Any one of the following (Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill)
- Bank Statement: Last 6 months
Car Loan Tirupur Eligibility Criteria
Eligibility criteria for a Car Loan Tirupur are as followsSalaried
- Firstly, the minimum age of the applicant should be not less than 21 years.
- Further, the maximum age should be 65 for loan maturity.
- Minimum employment: At least 1 year in current employment and a minimum of 2 years of employment.
- Minimum Annual Income: It should be Rs 1,00,000 net annual income.
- Also, the contact number is required.
Self Employed
- Firstly, the minimum age of the applicant should be 30 years or above
- The maximum age should be 60 at loan maturity
- In this, minimum employment should be at least 2 years in business
- Furthermore, the minimum annual income should be Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars.
Car Loan for Major Car Manufacturers in Tirupur
TABLE WILL APPEAR Apply for a Car LoanProcessing Fees & Prepayment Charges on Car Loan in Tirupur
Category
Details
Processing Charges
Prepayment
Preclosure
Stamp Duty
Cheque Bounce Chgs
Floating Rate of Interest
Not Applicable
Overdue EMI Interest
Amortisation Schedule Chgs
Rs 200 + GST
Car Loan Tirupur Agent Contact Number
To get an easy and instant car loan you can visit DialaBank or call on 9878981166 to get personalized assistance. Our relationship managers are well trained and will assist you in the best ever way possible in order to provide you with a deal most suited for you.
Pre Calculated EMI Table for Car Loan Tirupur
Dialabank provides the customers with a pre-calculated EMI table for their car loan. You can check here of Pre calculated EMI table for a car loan.
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 Tirupur
Car loan EMI can be calculated by the Car loan EMI Calculator provided by Dialabank. It is free to use and you can use it an infinite number of times. Equated Monthly Installments(EMI) is the monthly fixed charges that you pay to the bank as monthly repayment for the loan amount borrowed. Based on the profile, the interest rate on the loan is determined. EMI is calculated based on the car loan Interest Rate you are charged by the bank and the amount of loan you have to take and the period for which you enjoy the car loan.Apply for a Car Loan
About Tirupur
Tiruppur or Tirupur is a city in the Indian state of Tamil Nadu. Tiruppur is the administrative headquarters of Tiruppur district and the fifth largest city as well as an urban agglomeration in Tamil Nadu
FAQs about Car Loan Tirupur
✅ Can I get a loan to purchase a used car in Tirupur?
Yes, you have to use your credit history and previous arrangement with the prospective bank or any other lender in Tirupur 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 Tirupur?
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 Tirupur.✅ Do I need a loan guarantor or co-borrower in Tirupur?
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 Cities with the Car loan:
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