Best Banks for Car Loan in Bageshwar
Car Loan Bageshwar Features
⍟ Loan Approval in 30 Minutes
⍟ 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
If you’re looking for a car loan Bageshwar, you’ve come to the right place. We will guide you through the entire process, while you can sit back and relax. You can learn how to increase your eligibility for the car loan Bageshwar as well as the documents needed and the process involved for you to get the lowest interest rate possible.
Car Loan Bageshwar Eligibility Criteria
The car loan eligibility in Bageshwar requirements are as follows:
Salaried Individual |
Age – 21 years to 60 years
Net Monthly Income – Minimum ₹ 20,000 Employment Duration – 1-year minimum Income Eligibility – Based on Form 16 and salary slip |
Self-Employed Individuals |
Age – 21-65 years of age
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) |
Minimum ITR – Rs. 2 lakh
Employment Duration – 3 years minimum The applicant has to present IT returns and audited financials of 2 years with Calculated Income. |
Priority Customers |
At least 6-month vintage
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 Bageshwar EMI Calculator
Car Loan Bageshwar Fees & Charges
Charges | New Car Loan | Used Car Loan |
Interest Rate | 7.35% per annum |
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 Bageshwar Fees and Charges : Leading Banks – Apr 20 2024
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 Bageshwar Documents Required
Documents needed for car loan are as follows:
Salaried Individual
Category |
Documents Required
|
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) |
Passport
Birth Certificate High School Marksheet Driving Licence |
Signature Proof(Any 1) |
PAN
Bankers Verification Passport |
Income Proof |
Salary Slip and latest Form No.16
|
Bank Statement |
Last 6 month Bank statement
|
Employment Continuity Proof |
Job card by NREGA
ITR of Form no. 16 Salary Slip mentioned with joining date Letter of Appointment |
Self-Employed Individuals
Category |
Documents Required
|
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) |
PAN
Bankers Verification Passport |
Bank Statement |
Bank statement of last 6 months
|
Employment Continuity Proof |
Latest ITRs
Shop & Establishment Act Certificate Shop & Establishment Act Certificate Sales Tax or VAT Certificate |
Business Proof |
Registration Certificate
Telephone Bill/Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate |
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
Category |
Documents Required
|
Identity Proof (Any 1) | Driving Licence PAN Card Aadhar Card Passport |
Address Proof (Any 1) |
Electricity Bill/Telephone Bill
Aadhar Card Driving License Voter ID |
Income Proof |
Audited Balance Sheet
P&L Account ITR for the previous 2 years |
Bank Statement | Last 6 month |
Business Continuity Proof |
Company ITR of the last 2 years
Audited Balance Sheet TAX registration Certificate Current Account Statement |
Additional documents |
Letter of Authority or PAN Card
|
2. Private Limited/Limited Companies
Category |
Documents Required
|
Identity Proof |
The latest copy of MOA and AOA
Copy of Incorporation |
Address Proof (Any 1) |
SSI/MSME Registration Certificate
Telephone Bill Electricity Bill Shop & Establishment Act Certificate Sales Tax Certificate |
Income Proof |
Audited Balance Sheet
P&L Account and ITR for the previous 2 years |
Bank Statement | Previous 6 Months |
Business Continuity Proof |
P&L account and
ITR of the Company of the past 2 years Audited Balance Sheet Shop & Establishment Act Certificate |
Additional documents |
List of Shareholding partners and Directors
Board Resolution PAN Card Certificate of Commencement of Business for Ltd. Co. |
How to Get the Best Car Loan Interest Rates in Bageshwar
The interest rates for the car loan Bageshwar may differ, but they are all reasonable and competitive. If you want to get the lowest interest rate possible, do follow these steps:
- Choose a shorter repayment term – Having a longer tenure means that you won’t be paying huge EMIs every month, but that also leaves the lender with an impression that you do not have the financial capabilities to pay the monthly EMIs on a shorter tenure. Therefore, choose the shortest tenure possible for you making the lender give you the lowest possible interest rate.
- Research and compare the perks offered by different lenders – Choose the best lender possible that might give you the lowest interest rate as well as fulfill all your requirements.
- Maintain a modest debt-to-income ratio – Having a low debt-to-income ratio makes the lender give you a low interest rate, as having a higher interest rate would cause you to have a financial burden.
- Maintain a good credit score — Lenders will be pleased to offer you a car loan with a low interest rate if you have a good credit score. Banks and NBFCs consider a credit score of 750 and above to be ideal. Many lenders may give auto loans to people with bad credit, but they will give it at a higher interest rate. Check your credit scores regularly with the official Dialabank “Free Credit Score” service to make sure you have a good credit score. This will allow you to take the necessary and needed measures to enhance your credit score if it is low, and it will allow you to approach your lenders with confidence since you have a good credit score.
How to Apply for a Car Loan in Bageshwar?
Availing of a car loan in Bageshwar is an easy process with Dialabank. Follow the steps given below to avail of the best offers:
- Visit our website Dialabank.
- Click on the car loan option available in the menubar.
- Fill in the details regarding your car type as well as your income
- Wait as our relationship manager gets in touch with you on your provided number.
- You may also contact our relationship managers on 9878981166 in case of any doubts regarding the loan.
- To avail of a car loan offline, you will have to visit the branch personally, which might be hectic and time-consuming for you.
Which Bank in Bageshwar Offers the Best Car Loans?
Most big banks and NBFCs, including HDFC, Private, and SBI, offer car loan Bageshwar. The best lender would be the one who gives you the lowest interest rate, comfortable tenure, and 100% financing of the car price.
Car Loan for Major Car Manufacturers in Bageshwar
TABLE WILL APPEARProcessing Fees / Prepayment Charges on Car Loan Bageshwar
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 Bageshwar
CIBIL score plays a very important role while getting the loan. If your CIBIL score is 750 or above, then you will get quick loan approvals. If the CIBIL score is less than 750 then your application would be reluctantly processed. So, you should check your CIBIL score before you apply for the loan. If you pay your EMIs on time then your CIBIL score will be good and high. If you do not repay Your EMI on time your CIBIL score will be reduced. The applicant must pay monthly EMIs according to the schedule of the bank.
Car Loan Bageshwar Contact Number
In case of any queries regarding the car loan in Bageshwar, you may contact on the number 9878981166 for any assistance.
Pre Calculated EMI Table for Car Loan Bageshwar
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 Bageshwar
Bageshwar is a town in the district Bageshwar in Uttarakhand. The town is famous for the Shiva temple that was built in 1640.
IFSC Codes for Banks in Bageshwar
Bank Name | Bank Address | IFSC Code |
CENTRAL BANK OF INDIA | STATION ROAD, NEAR LIC BUILDING, BAGESHWAR, BAGESHWAR-263642, BAGESHWAR, UTTARAKHAND | CBIN0284628 |
STATE BANK OF INDIA | DIST BAGESHWAR, UTTARANCHAL 263642 | SBIN0001693 |
YES BANK | STATION ROAD, BAGESHWAR – 263642 | YESB0KNSB04 |
FAQ’s About Bageshwar Car Loan
✅ Is there a requirement for a minimum salary when applying for a car loan?
Most lenders do not have a salary bar, but your application will be rejected if they determine that you cannot pay your monthly EMIs on time due to you having a low salary. Under these circumstances, having a co-applicant might help.
✅ Is a loan guarantor or guarantor required?
A loan guarantor or co-borrower is required if you cannot meet the lending institution’s eligibility criteria, such as monthly income, age, or credit score. You may also apply for a car loan on your own.
✅ In what circumstances might my car loan application be denied?
If you have a bad credit score, have defaulted on your payments, or have applied for and been rejected for loans multiple times, your loan application may be denied. To get your loan approved, you must also meet the bank’s eligibility criteria, including a minimum income level, age, and previous relationship with the bank.
✅ Are there any tax advantages to taking out a car loan?
No. A car loan, unlike a home loan, has no tax benefits at all. As a result, car loan amounts should always be tied to your actual need, and splurging on a fancy car by taking out a large loan is not a good idea.
✅ Is it possible to negotiate interest rates?
Yes, you can use your credit history and previous relationship with the prospective lender to negotiate the interest rate on your car loan. Regularly paying your EMIs on previous loans/credit cards with your prospective lender can help you get a car loan with a lower interest rate.