Car Loan Balaghat

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Best Banks for Car Loan in Balaghat

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 Balaghat Features

Thinking of purchasing your dream car? But don’t have the required funds for it? Worry not! A car loan is here to fulfill your dreams. A car loan is a means of funding or financial help provided by banks and NBFCs to applicants at an affordable rate of interest to aid them in buying a car of their choice. Since cars have now become a necessity for everyone, but the cost of cars is growing rapidly daily, a car loan has also become important and fulfills your desire to be the owner of a luxurious car. The main features of a car loan Balaghat are:

Car loans are available at affordable low-interest rates in the market
All banks and lenders offer car loans in Balaghat
The documentation process is quick and hassle-free on applying with DialaBank
Car loans are easily available through DialaBank and disbursed quickly

Car Loan Balaghat Interest Rate

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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 Balaghat Documents Required

The documents required to get a car loan approved in Balaghat city are as follows:

For Salaried Employee

Identity Proof: in the form of any one of the following Passport copy, PAN Card, Voters ID card, Driving License
Income Proof 3-month salary slip with form 16 submission
Address Proof: Ration card / Passport Copy / Telephone Bill /PAN Card or any other valid document / Electricity Bill / Life Insurance Policy
Bank Statement: for the last 6 months.

For Self Employed

Identity Proof: in the form of any one of the following Passport copy, PAN Card, Voters ID card, Driving License
Income Proof: Latest ITR proof of the operating firm owned by the applicant
Address Proof: Ration card / Passport Copy / Telephone Bill /PAN Card or any other valid document / Electricity Bill / Life Insurance Policy
Bank Statement: for the last 6 months.

Car Loan Balaghat Eligibility Criteria

The car loan eligibility requirements are as followed in Balaghat:

For Salaried Employee

Minimum age: 21 years for salaried and 30 years in case of self-employed applicants is the requirement
The Maximum age at loan maturity should not exceed 60 and 65 years
Minimum employment: 1 year in existing, current employment and a minimum of 2 years and above of employment
Minimum Annual Income: Rs 100000 net annual income of the applicant from Balaghat
Usually getting a car loan in Balaghat is easier when the applicant possesses a CIBIL score of 750 and above which is an essential factor required for loan approval.

For Self Employed

Minimum age: 21 years for salaried and 30 years in case of self-employed applicants is the requirement
The Maximum age at loan maturity should not exceed 60 and 65 years
Minimum employment: at least 3 years in business for self-employed in Balaghat
Minimum Annual Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars
Usually getting a car loan in Balaghat is easier when the applicant possesses a CIBIL score of 750 and above which is an essential factor required for loan approval.

Car Loan for Major Car Manufacturers in Balaghat

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Processing Fees & Prepayment Charges on Car Loan Balaghat

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
Prepayment Charges	>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 Balaghat

The Cibil score is the score that defines your ability to pay off your credits.

A higher Credit score means you have a good credit history and makes your application process smooth and easy to be approved.
Usually, banks and NBFCs require a credit score of 750 and above to approve any loan application process in Balaghat. This score requirement may vary from bank to bank.
In case a CIBIL score is less than the required value you may be required to pay a high rate interest rate to avail the loan.

Car Loan Balaghat Contact Number

In case of any queries regarding the car loan in Balaghat, you may contact on the number 9878981166 for any sort of assistance. Or you simply visit us at Dialabank.

Pre Calculated EMI Table for Car Loan Balaghat

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

About Balaghat

Balaghat is a city and a municipality situated in the Balaghat district in Madhya Pradesh. Balaghat is also the administrative headquarters of the Balaghat District. The town was originally known as Burha or Boora. Balaghat had a population of 75,061 as on 2011. Hindi and English are the major languages used in Balaghat.