Best Banks for Car Loan in East Champaran
Feature
HDFC Bank
Private 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
⍟ Loan Approval in 30 Minutes
If purchasing a car is your dream and you lack funds for it, then you have come to the right place. We provide you with the best in market Interest rates and help you check your Eligibility. Get the best car loan with easy documentation and the Lowest EMIs. The car loan eligibility requirements are as follows in East Champaran:
7.35% per annum Documents required for a car loan are as follows: The interest rates on vehicle loans offered by different lenders in East Champaran may vary, but they are all reasonable and competitive. If you want to get a car loan in East Champaran with the lowest interest rate, follow the steps below: With Dialabank, getting a car loan in East Champaran is simple. To take advantage of the best deals, follow these steps: Many big banks and NBFCs, including HDFC, Private, and SBI, offer vehicle loans in East Champaran. The finest lender is one that can provide you with the loan amount you need at a reasonable interest rate and can distribute the funds as quickly as feasible. Therefore, it is always a good idea to compare vehicle loans from many lenders before applying for one that meets all of your needs, such as interest rates. TABLE WILL APPEAR The CIBIL score is used to determine your ability to repay your debts. A higher credit score indicates a positive credit history, making the car loan application smooth and simple. In most cases, banks and NBFCs in East Champaran consider a credit score of 750 or higher to be a decent score when approving your loan application. This score may differ from one bank to the next. For example, if your CIBIL score is lower than the required number, you will be needed to pay a high interest rate on a loan; however, if your CIBIL score is strong, you may be asked to pay a low interest rate. As a result, a CIBIL score plays a significant role in obtaining a car loan. If you have any queries regarding the car loan in East Champaran, you may contact the number 9878981166 for any assistance. East Champaran is a district located in the Indian state of Bihar. Motihari is home to the district headquarters. Nepal forms its northern border, with Sitamadhi and Sheohar on the east, Muzaffarpur on the south, and Gopalganj on the west. Champaran gets its name from Champa-aranya or Champkatanys. Magnolia is known as Champa or Champaka, and Aranya is known as a forest. Champaranya, therefore, refers to a forest of Magnolia (CHAMPA) trees. Car loans do not include insurance or registration fees, which must pay at the time of purchase. Auto insurance, required by law, must be acquired separately, as must all vehicle your car loan does not cover registration-related expenditures. When you take out a loan, some banks will require you to pay the dealer a percentage of the car’s worth (typically 5% to 15%) before releasing the loan. Yes, everyone who finances a vehicle is required to carry full coverage auto insurance for the duration of their loan. Any car with a balance due on loan is still theoretically owned by the lender. To protect their investment, lenders need consumers to have full coverage auto insurance. Most lenders will not require a guarantor to obtain a car loan. However, if your income falls below the required minimum, lenders may want a co-applicant or a guarantee to show that you will be able to repay the loan. Car loans can be used to purchase various vehicles, including SUVs, MUVs, and other models. In addition, one can use it to purchase a vehicle for business use. Some lenders may also lend money for trucks, tractors, and construction equipment.
Car Loan East Champaran 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 East Champaran 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 East Champaran EMI Calculator
Car Loan East Champaran 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 East Champaran 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 East Champaran 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 East Champaran
How to Apply for a Car Loan in East Champaran?
Which Bank in East Champaran Offers the Best Car Loans?
Car Loan for Major Car Manufacturers in East Champaran
Processing Fees /Prepayment Charges on Car Loan East Champaran
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 East Champaran
Car Loan East Champaran Contact Number
Pre Calculated EMI Table for Car Loan East Champaran
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 East Champaran
Car Loan Banks in East Champaran
STATE BANK OF INDIA
VILLSUGAULI, EAST CHAMPARAN, 845456
SBIN0013153
STATE BANK OF INDIA
1ST FLOOR OF MOTIHARI BAZAR BR, PO MOTIHARI, EAST CHAMPARAN, DIST EAST CHAMPARAN 845401
SBIN0013727
UNION BANK OF INDIA
ARERAJ BRANCHARERAJ CHOWKPOARERAJ EAST CHAMPARAN BIHAR PINCODE845411
UBIN0574490
UTKARSH SMALL FINANCE BANK
VILLAGE – YOGIYAD JANERAWA, P.S – GOBINDGANJ, ARERAJ, DIST – EAST CHAMPARAN, STATE – BIHAR – 845411, KHATA NO-240, KHESARA NO – 1121, THANA NO – 103, TAUZI NO – 951
UTKS0001137
UTKARSH SMALL FINANCE BANK
GROUND FLOOR, MAUZA – MOTIHARI KOLHUARWA, THANA – MOTIHARI, DISTRICT – EAST CHAMPARAN, BIHAR
UTKS0001194
FAQ’s About East Champaran Car Loan
✅ Is the registration charge covered in a car loan?
✅ What is the minimum amount for a car down payment?
✅ Do I require insurance to obtain a car loan?
✅ Is it necessary to have a guarantor for a car loan?
✅ What kind of vehicles can I get a car loan for?