Car Loan Madikeri

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Car Loan Madikeri

Best Banks for Car Loan in Madikeri

Feature
HDFC Bank
Private Bank
Kotak Mahindra Bank
Interest Rate
8% - 8.4 %
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 Madikeri Features

Apply for a car loanCar loan madikeri

Purchasing a car from your pocket is a difficult task for the earner of the family, but there is a saying if all of the doors are shut there is always a ray of hope. Thus, Car Financing is the best way to attain cash in a short duration of time. It is a better way to arrange funds to buy the dream car with ease.

We provide car loans starting at an attractive rate of interest to both self-employed as well as salaried individuals. We offer car loans whether it is new or used.

Some key features of car loan in Madikeri are the following:

  • Easy monthly repayment options are accessible for you.
  • Instantly car loan available
  • Loan Tenure Duration varies from 1-7 years
  • There is a provision of affordable interest rates offers to fulfill your wishes.
  • There are no hidden or additional charges for guidance about the car loan.

Car Loan Madikeri Interest Rates

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

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Car Loan Madikeri Documents Required

Documents required for car loan are as followed:

For Salaried Individuals:

  1. Proof of Identification: Passport copy, PAN Card, Voters ID card, Driving License
  2. Income Proof: Latest 3-month salary slip with form 16
  3. Residence Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Bank Statement: Last 6 months.
  5. Passport size photos: 2

For Self Employed Individuals:

  1. Identification Proof: Passport copy, PAN Card, Voters ID card, Driving License
  2. Income Proof: Latest ITR
  3. Address Proof(anyone): Ration card/ Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Bank Statement: Last 6 months.
  5. Passport size photos: 2

Car Loan Madikeri Eligibility Criteria

The car loan eligibility requirements are as followed in Madikeri:

For Salaried Applicants

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: 1 year in current employment and a minimum of 2 years of employment
  4. Minimum Annual Income: Rs.300000 net annual income

For Self-Employed Applicants

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: At least 3 years in business
  4. Minimum Annual Income: Net profit Rs. 60000 per annum for standard cars and Rs.100000 per annum for mid-sized and premium cars

Car Loan for Major Car Manufacturers in Madikeri

TABLE WILL APPEAR

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Processing Fees / Prepayment Charges on Car Loan in Madikeri

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
>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 Madikeri

CIBIL score plays a key role while getting the loan. If your CIBIL score is between 750-900. then you will get the quick car loan approvals. If the CIBIL score is less than 700 then your application will be pending. so, check your CIBIL score before you apply for the car loan. If you pay your EMIs in time then your CIBIL score will be increased.

A very low CIBIL score can not be accepted as it is the first thing a bank tracks before processing your car loan. Your record of previous loans is considered for a Car Loan Madikeri. If there are any delay payments for previous loans, it will create a hurdle for availing of a fresh loan.

Car Loan Madikeri Agent Contact Number

Apply with Dialabank on the online platform and avail the best deals and offers on a car loan with instant approval and extra benefits or you can make a missed call on this number for any queries about the car loan in Madikeri  9878981166.

Our customer care executive offers you guidance to solve your queries regarding the car loan.

Pre Calculated EMI Table for Car Loan Madikeri

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 Madikeri

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About Madikeri

Madikeri is a hill station in Madikeri taluk in the Indian states of Karnataka. There are many tourist places in Madikeri. It is the headquarters of Kodagu district. Also known by its former name Mercara.

According to the 2011 census. Madikeri had a population of 33,381.

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