Car Loan Vidisha

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Major Car Loan Providers in Vidisha

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 Vidisha Features

A car loan is a financial help provided by banks and NBFC’s to fulfill your dream of having your car. They provide necessary funding for purchasing a car which can be on Ex-Showroom Price or On-Road Price of the car. A Car Loan is a secured loan with easy repayment options. The loan amount is offered on Interest charges which vary from bank to bank. One can pay for the vehicle in easy installments.

Features of car loan in Vidisha are:

Up to 90-95%% of the funding available for new cars
Up to 80-85%% of the funding available for used cars
The loan period is usually between 1 to 7 years.
The interest rate is calculated based on compound interest.
Equated Monthly Installment is worked out for repayment.
Early settlement of the pending amount is available subject to the pre-payment penalty.

Car Loan Vidisha 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

Apply for a Car Loan

Car Loan Vidisha Documents Required

Documents required for car loan are as followed:

For Salaried Employee

Identity Proof required is a copy of Passport, PAN Card, Voters ID card, Driving License
Income Proof For Salaried persons is the Latest 3-month salary slip with form 16
Address Proof required is one of the following: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
And the Bank Statement of the Last 6 months.

For Self Employed

Identity Proof required is a copy of Passport, PAN Card, Voters ID card, Driving License
Income Proof required for such individuals is the latest ITR of the firm
Address Proof required is one of the following: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
And the Bank Statement of the Last 6 months.

Car Loan Vidisha Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Employee

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 experience
Minimum Annual Income: For Salaried Rs 100000 net annual income

For Self Employed

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 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars in Vidisha

Car Loan for Major Car Manufacturers in Vidisha

Apply for a Car Loan

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Vidisha

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 Vidisha

CIBIL score reflects your credit history in the past as well as your defaults in repayment of your previous loans. A good credit score is considered as 750 and above as most of the financial institutions ask for a high credit score. Every bank and NBFC has different criteria for a minimum CIBIL score they require to process your loan. A Lower CIBIL score than 750 can attract a higher rate of interest.

A very low CIBIL score might lead to rejection of your loan as it is the first thing a bank tracks before processing your loan.

Car Loan Vidisha Contact Number

For more details regarding the car loan Vidisha, Call us on 9878981166. You can also visit our website Dialabank

Pre Calculated EMI Table for Car Loan Vidisha

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 Vidisha

Vidisha is a city in the state of Madhya Pradesh. It is located near the state capital Bhopal. The city was also known as Bhilsa during the medieval period. Vidisha had a population of 125,457. It is exceptionally rich in ancient monuments and historic places.

Special Note: Banks do not provide Car Loans to bad credit holders, but one can fulfill their money requirement with Gold Loan easily.