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Buy your dream Car

Rates as low as 7.05%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

Capital First Bank Car Loan

Capital First Bank Car Loan Features –

About Capital First Bank Car Loan

Capital First Bank now has a strong fund asset base of more than ₹ 1,10,400 crore, 37% in the retail segment. Net Interest Margin has expanded to 3.0% post-merger quarterly. The Bank now is leading in some of the retail asset segments.

Achieve your dream of buying a car with the help of Capital First Bank Car Loan. A car loan is provided upto 90% of the vehicle loan amount upto 50 lakhs. Loan tenure is upto maximum of 10 years. Avail of a car loan or an opt pre-approved car loan from Capital First Bank Car Loan now and get the best interest rate.

Individuals with mediocre CIBIL score can apply for Car Loan too. Ensure the monthly EMI in Dialabank EMI calculator online before availing of a car loan.

Advantages Of Capital First Bank Car Loan

Capital First Bank Car Loan

Capital First Bank Car Loan Eligibility

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

Capital First Bank Car Loan Interest Rate, Fees, and Charges

Charges New Car Loan Used Car Loan
Interest Rate 7.05% per annum 11.80% p.a. to 13.80% p.a.
Car loan Processing fees 0.004 0.004
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

How to Increase Your Eligibility for Capital First Bank Car Loan

Capital First Bank or any other banks provides Car loan after checking your eligibility. learn how to increase your eligibility of getting Capital First Bank Car Loan

  • Opt for a short time loan: If you choose a short tenure to repay the money, the EMI you will be paying each month will be higher. It will indicate your higher repayment capacity; it will help you reflect your eligibility positively on the lenders, making the loan process more accessible. Boost your eligibility for a car loan by choosing a short time loan.
  • Build your credit score: Building your credit score can be beneficial for you in availing of a car loan. Whenever you make a credit purchase and pay your monthly bills on time, it helps you build your credit score and the credit score is recorded and is referred by banks whenever you apply for a car loan to check your loan eligibility.
  • Maintain a low debt-to-income ratio: The debt-to-income ratio, AKA DTI ratio, is a metric used by Banks to determine your ability to pay your debts and make interest payments. The DTI ratio compares your monthly debt payments to your monthly gross income. Maintaining Low debt-to-income ratio will help you enhance your eligibility for Capital First Bank Car Loan.
  • The amount for loan: Capital First Bank Car Loan or any bank/lender will look into the amount of loan you have applied for higher loan amount will lead to higher checking, and the Bank may ask for collateral as security. So make sure you use for a low loan amount from Capital First Bank Car Loan

Factors Affecting Capital First Bank Car Loan Eligibility

  • Income: Capital First Bank Car Loan or any other lender checks your income and its stability. If your income is high, you can easily get a new car from Capital First Bank Car Loan because a higher income indicates a higher repayment capacity and gives assurity to be eligible for a Capital First Bank Car Loan.
  • Your loan amount: A vital factor Capital First Bank or any bank/lender looks into is the amount of loan you have applied for higher loan amount will lead to higher perusal. The Bank may ask for collateral as security. 
  • Repayment history: Capital First Bank strictly looks at your credit and loan repayment history. Any unpaid debts stay put until seven years, which will affect your loan eligibility. If you have any outstanding loan or poor loan history, the creditor might hesitate to approve your car loan.
  • Credit score: Pay your monthly bills on time; it helps you build your credit score. The credit score is recorded and is referred by banks whenever you apply for a car loan to check your loan eligibility. Your credit score must be above 750 to apply for a loan.

Capital First Bank Car Loan Processing Fees

Capital First Bank Car Loan Processing Fees: Upto 3.5% of your loan amount

New Car Loan: Pre-owned car Loan & Loan against Car

  • Pre-owned car loan: Get a pre-owned car loan instantly from Capital First Bank Car Loan with a low-interest rate of 12.99%.Loan tenure for used cars is up to a maximum of 10 years. Processing fees is zero
  • Loan against Car: Money to invest or to start your own business? Capital First Bank Car Loan will issue you a loan against your vehicle.

Capital First Bank Car Loan Customer Care – Toll-Free Number

  • INDIA 1860 500 9900 – Toll-free 
  • USA 18337039805, CANADA 18337039811, UK 0 8000 478 414, SINGAPORE 800 101 4006, AUSTRALIA 1800314585, UAE 8000 187 922.

Visit dialabank or call 9878981166 for other banks like Uttarbanga Kshetriya Gramin Bank

Capital First Bank Car Loan Interest Rates and Charges

Capital First Bank Car Loan Pre-Owned Car Loans Other Charges

Capital First Bank Car Loan Car Documents Required.

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.

Capital First Bank Car Loan EMI Calculator

  • Please make use of the EMI calculator provided by us to calculate your EMI before availing of a car loan

Capital First Bank Car Loan Types

Capital First Bank provides different types of car loans. You can choose any car loan according to your need. Types of car loans are as follow:

  • New car loan: Individuals who want to buy a new car can apply for a car loan from Capital First Bank Car Loan. The loan is provided upto 90% of the vehicle upto an amount of 50 lakh with an 8.5% interest rate. The maximum tenure is one year up to 10 years.
  • Used car loan: Can’t afford a new car buy a used car with the help of Capital First Bank Car Loan. Zero processing fee and 12.99% interest rate.
  • Loan against the car: You need money to start to establish your start-up or pay medical expenses; get a loan against your car up to 10lakhs from Capital First Bank Car Loan. You need to keep your car as collateral and get money without waiting for days.

How to Apply for Capital First Bank Car Loan?

  • Take your mobile or laptop, visit Dialabank and fill a quick form
  • The relationship managers will reach out to you ASAP and guide you thoroughly through the Capital First Bank Car Loan.
  • The team will provide their best with all the required procedures. You just need to compare and select the plan that suits your requirements.
  • Dialabank is a trusted financial helpline. Applying for a loan with the help of our expert’s assistance would aid you with all offers that you might not know with transparent financial reports.

Tips to decide the right amount of EMI

  • Decide the amount you need: The first thing you need to do is determine the amount of money you need to borrow from Capital First Bank before applying for a car loan. Decide the correct amount according to your capability and your income stability and find the best Bank. 
  • Review your current obligations: Ensure all your income sources and examine all your expenses before going to Capital First Bank Car Loan. Check your EMI obligation of any ongoing loan. Once you go through every detail, you can consider taking a loan without any concern.
  • Calculate your Capital First Bank Car Loan eligibility: It is better to calculate your eligibility. It is the evaluation to know your capacity of making repayments according to your monthly income. You don’t want to wreck your hard-earned credit score by making some arbitrary decisions.
  • Multiplier-based loan amount eligibility – Capital First Bank or any bank calculates borrower’s eligibility by applying a multiplier to your net pay; this is the primary method of calculating the loan eligibility of any borrower. It is between 2.5 to 3 times the annual salary for salaried individuals and six times the yearly income for self-employed professionals.
  • FOIR based loan amount eligibility – Fixed Income to Obligations Ratio (FOIR) is a parameter Capital First Bank will use to determine your maximum EMI capability you can pay in accordance with your current income and all other expenses. To estimate your monthly expenses, the Bank will add a particular ratio to all your incomes with your other EMI obligations and finalize the estimate. The proportion of fixed earnings to your calculated fixed obligations will give you (FOIR). By and large, the Bank will lend up to a maximum FOIR of 0.50, and based on the FOIR; the Bank will also estimate the total amount of EMI you can service as a borrower.

Capital First Bank Car Loan EMI – EMI changes in case of prepayment

  • Maximum upto ten years of EMIs are allowed for New Car Loan.
  • Capital First Bank Car Loan prepayment fee is 5% of the outstanding principal amount.

How to Calculate Capital First Bank Car Loan EMI

Any person would prefer to calculate the EMI as it will help you estimate the exact amount you will pay every month.
Simple formula to find your EMI
E = P*r*[(1+r) ^n/((1+r) ^n-1)].
E is the EMI, P stands for the principal amount, r stands for interest rate, and n stands for the number of years or tenure of the loan.
You can also calculate the EMI simply by using the EMI Calculator tool available in Dialabank.

Compare Capital First Bank Car Loan With Other Banks In India.

FAQs for Capital First Bank Car LoanCapital First Bank Car Loan

✅ What is Capital First Bank Car Loan

Capital First Bank Car Loan is financial support given by the Bank to all its eligible customers to buy a car.

✅ How can I get a Car Loan from Capital First Bank?

Give a missed call on 8448986445 and submit the required documentation; they will reach out to you.
Apply with Dialabank to get a Capital First Bank Car Loan with accurate details.

✅ How does Capital First Bank Car Loan work?

Capital First Bank gives a Car Loan by keeping your new car as collateral against the loan. Call 8448986445 with the required documents, and the car key will be in your hand.

✅ What is the Car Loan Interest Rate in First Capital Bank?

Capital First Bank Car Loan Interest rate is 8.5%
Interest Rate is the cost loan amount, expressed as a percentage of the loan amount.

✅Do I need to provide a guarantor to get myself a car loan from Capital First Bank?

NO, Capital Bank Car Loan doesn’t ask for any guarantor from its borrower to avail Car Loan.

News about Car loan

Bank’s net profit hiked by 34%.

The income of the banks is currently increasing at a steady pace. The increase in income is due to loans like car loans, home loans, and gold loans. Apart from this, the hike in the savings account and the fixed deposit is the reason for the increase by 34% income of banks.

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