Best Banks for Car Loan in Amaravati
⍟ Loan Approval in 30 Minutes Want to buy a brand new car? Difficulty in collecting money? No need to worry now. A car loan is an easiest and most convenient way to finance your car at affordable interest rates and with the minimum documentation required. Compared to the other loans, the eligibility criteria are also not stringent. If an individual has a stable source of income and required documents, then the banks and NBFCs easily provide car loans without any trouble. The car loan eligibility requirements are as follows in Amaravati:
7.35% per annum Documents required for car loan are as follows: Nowadays, it is pretty simple to get a car loan online as it saves you time as well as physical inconvenience If you wish to opt for the offline method, you can do so by physically visiting the nearest branch office of the lender and filling up the application form. Thereafter, the relationship manager will assist you in further procedures. Vehicle loans are available from a number of large banks and NBFCs in Amaravati, including HDFC, Private, and SBI. The best lender will be able to give you the loan amount you require at a reasonable interest rate and will be able to disburse the funds as fast as possible. Before applying for a vehicle loan that fits all of your criteria, such as interest rates, it is usually a good idea to compare vehicle loans from a variety of lenders. TABLE WILL APPEAR CIBIL score is a significant criterion on the basis of which banks and NBFCs accept any customer’s car loan. For each lending institution, the minimum criteria for a CIBIL score on a car loan are different. A score above 800 is usually considered to be good for any person to be eligible for a car loan. It is important that one should clear all the pending dues and debts in order to maintain a good credit score. Default in your credit score may hinder your opportunities for availing of a fresh loan in the future. To get an instant car loan in Amaravati 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 way possible in order to provide you with a deal most suited for you. Amaravati is the capital town of the state of Andhra Pradesh. A car loan can be obtained for a term ranging from one year to seven years by salaried people, self-employed workers, and businessmen between the ages of 21 and 60. Depending on the value of the vehicle and the amount of EMI you will spend on car loans, banks offer car loans up to 100% of the ex-showroom costs. Yes, banks may offer car loans up to 100% of the vehicle’s ex-showroom costs. The car’s ex-showroom price includes customs tax but it excludes state duties and statutory costs. Banks, on the other hand, assess the borrowers’ repayment potential depending on the car’s expense. With a decent credit score and consistent wage, you will get a low-interest rate on a car loan. Individuals who have a good history with a bank could be eligible for low-interest loans.
Car Loan Amaravati Features
⍟ Lowest Rate of Interest
⍟ Up to 100% on Road Loan
⍟ Minimum Documentation
⍟ Paperless Process
⍟ Flexible Repayment
⍟ Zero Foreclosure
⍟ 24 x 7 Online Payment Facility
⍟ No Hidden Charges
Car Loan Amaravati Eligibility Criteria
Salaried Individual
Net Monthly Income – Minimum ₹ 20,000
Employment Duration – 1-year minimum
Income Eligibility – Based on Form 16 and salary slip
Self-Employed Individuals
Minimum ITR – Rs.2 lakh
Employment Duration – Minimum 3 years
Income Eligibility – Depends on the latest Income Tax Returns
Self-Employed Non-Individuals (Company/Partnership)
Employment Duration – 3 years minimum
The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
Average Quarterly Balance – 2 quarters balance at a minimum of Rs.1 lakh
Maximum Loan Amount – 3 times the Average Quarterly Balance of the last 2 Quarters
Car Loan Amaravati EMI Calculator
Car Loan Amaravati Fees & Charges
Charges
New Car Loan
Used Car Loan
Interest Rate
11.80% p.a. to 13.80% p.a.
Car loan Processing fees
0.5%
0.5%
Issuance of Duplicate Repayment Schedule Charges
Around Rs.500
Around Rs.500
Foreclosure Charges
0.06
0.06
Penal Interest
2% PM
2% PM
Car loan Part Payment charges
6% of the amount
6% of the amount
Cheque/Instrument Swap Charge
Around Rs.500
Around Rs.500
Documentation Charge
Around Rs. 500
Around Rs. 500
Issuance of Duplicate No Dues Certificate Charges
Around Rs. 500
Around Rs. 500
Registration Certification Collection Charge
Around Rs. 200
Around Rs. 200
Cheque Bounce/Instrument Return Charges
Around Rs. 500
Around Rs. 500
Issuance of Duplicate Statement Charges
Around Rs. 500
Around Rs. 500
Loan Cancellation/Re-booking Charges
Around Rs. 1000
Around Rs. 1000
Issuance of Credit Report
Around Rs. 50
Around Rs. 50
Car Loan Amaravati Fees and Charges : Leading Banks – Mar 29 2024
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 Amaravati Documents Required
Salaried Individual
Category
Identity Proof (Any 1)
Passport
Voter ID
Aadhar Card
Driving License
Address Proof (Any 1)
Aadhar Card
PAN
Driving License
Electricity Bill
Date of Birth Proof(Any 1)
Birth Certificate
High School Marksheet
Driving Licence
Signature Proof(Any 1)
Bankers Verification
Passport
Income Proof
Bank Statement
Employment Continuity Proof
ITR of Form no. 16
Salary Slip mentioned with joining date
Letter of Appointment
Self-Employed Individuals
Category
Identity Proof (Any 1)
PAN Card
Passport
Voter ID
Aadhar Card
Address Proof (Any 1)
PAN Card
Voter ID
Passport
Electricity Bill
Date of Birth Proof (Any 1)
Birth Certificate
Passport
Driving Licence
PAN
Signature Proof (Any 1)
Bankers Verification
Passport
Bank Statement
Employment Continuity Proof
Shop & Establishment Act Certificate
Shop & Establishment Act Certificate
Sales Tax or VAT Certificate
Business Proof
Telephone Bill/Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
Category
Identity Proof (Any 1)
Driving Licence
PAN Card
Aadhar Card
Passport
Address Proof (Any 1)
Aadhar Card
Driving License
Voter ID
Income Proof
P&L Account
ITR for the previous 2 years
Bank Statement
Last 6 month
Business Continuity Proof
Audited Balance Sheet
TAX registration Certificate
Current Account Statement
Additional documents
2. Private Limited/Limited Companies
Category
Identity Proof
Copy of Incorporation
Address Proof (Any 1)
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
Sales Tax Certificate
Income Proof
P&L Account and ITR for the previous 2 years
Bank Statement
Previous 6 Months
Business Continuity Proof
ITR of the Company of the past 2 years
Audited Balance Sheet
Shop & Establishment Act Certificate
Additional documents
Board Resolution
PAN Card
Certificate of Commencement of Business for Ltd. Co.
How to Get the Best Car Loan Interest Rates in Amaravati
How to Apply for a Car Loan in Amaravati?
Which Bank in Amaravati Offers the Best Car Loans?
Car Loan for Major Car Manufacturers in Amaravati
Processing Fees & Prepayment Charges on Car Loan Amaravati
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
CIBIL Score Required for Car Loan in Amaravati
Car Loan Amaravati Contact Number
Pre Calculated EMI Table for Car Loan Amaravati
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 Amaravati
Car Loan Banks in Amaravati
BANK OF INDIA
JAISTAMBH CHOWKSTATION ROAD,
BKID0009675
BANK OF INDIA
NEAR SAMARTH HIGH SCHOOL, BADNERA ROAD, AMRAVATI.
BKID0009677
BANK OF INDIA
BHARAT KESHAVPRASAD RATHI, CO GURU KRUPA MAVRINDAVAN COLONY, CHANDUR BAZAR
BKID0009681
ORIENTAL BANK OF COMMERCE
PLOT NO. 55, GROUND FLOOR, KHATRI MALL, KHATRI COMPOUND, NR MALVIYA BHAWAN, AMARAVATI
ORBC0101327
PUNJAB NATIONAL BANK
SHYAM CHOWK AMRAWATI
PUNB0001600
FAQs about Amaravati Car Loan
✅ What are the eligibility criteria for a car loan?
✅ Can I get a 100% car loan?
✅ How can I get a low-interest rate on a car loan?