Best Banks for Car Loan in Erode
Car Loan Erode Features
Thinking of purchasing a new car? But don’t have the required funds for it?
Do not worry! Dialabank presents to you the easiest steps to avail a car loan so that you can fulfill your dream with great convenience.
Car loans are provided by banks and NBFCs for both brand-new and second- hand cars, and for both ex-showroom and on-road prices.
Car loans are provided by banks and NBFC’s for a specific period of time varying from 24 months to 60 months, for both brand new and second-hand ones.
Car Loan Erode Interest Rate
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 Erode Documents Required
Documents required for car loan are as followed:
For Salaried Individuals:
- Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: Latest 3-month salary slip with form 16
- Bank Statement: Last 6 months.
- Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
For Self Employed Individuals:
- Income Proof: Latest Income Tax Return
- Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
- Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
Car Loan Erode Eligibility Criteria
The car loan eligibility requirements are as followed in Erode:
For Salaried Individuals:
- Minimum age: 21 years
- Minimum employment: 1 year in the current place of work and 2 years of total employment.
- Minimum Annual Income: Rs 100000 net annual income.
- Maximum age at loan maturity: 65 years
For Self Employed Individuals:
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum Annual Income: Net profit of Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars
- Minimum employment: A minimum of 3 years in business.
How to Apply for Car Loan in Erode?
Availing a car loan Erode is an easy process with Dialabank. Just follow some steps to avail the best offers:
- Visit our website and click on the car loan option available on the menu. Fill in the details regarding the car type and your income. Our relationship manager will soon get in touch with you on your provided number.
- You may also contact our relationship managers on the number +919878981166 in case of any queries regarding the loan.
- For availing a car loan offline you will have to visit the branch personally, which might turn hectic for you. So we advise you to do it online!
Car Loan for Major Car Manufacturers in Erode
TABLE WILL APPEARProcessing Fees & Prepayment Charges on Car Loan Erode
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 Erode
The CIBIL score is referred to as what defines your ability to pay off your credits. A higher Credit score means good credit history and makes your car loan application process smooth and easy to be processed. Mostly, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Erode.
This score may again vary from bank to bank. In case of a low CIBIL score than the required value, you will be required to pay a high interest rate on car loan amount. Thus, a CIBIL score is an important factor in a car loan.
Apply for a Car LoanCar Loan Erode Contact Number
Dial us up at +919878981166 to get more information about car loans at Erode and we will give you the best advice to help you fulfill your dream easily, quickly and efficiently.
Pre Calculated EMI Table for Car Loan Erode
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 Erode
Erode is a city in Tamil Nadu and is the seventh-largest urban conglomerate. It is known as the ‘turmeric city’ for its turmeric market. Apart from this, it is famous for its plantain, coconuts, and white silk.
Apply for a Car LoanCar Loan EMI Calculator
Other Cities For Car Loan In Tamil Nadu
Car Loan Chengalpattu | Car Loan Sircilla |
Car Loan Batlagundu | Car Loan Secunderabad |
Car Loan Zahirabad | Car Loan Rangareddy |
Car Loan Warangal | Car Loan Ramagundam |