Capital First Car Loan

Capital First Car Loan Key Features Apr 27 2024

About Capital First Car Loan

Capital First is a Non-Banking Financial Corporation that provides financial services to individual customers and corporates. Capital First is set up in 2012 by V. Vaidyanathan.

Capital First offers Car Loan who wants to purchase a Car. It offers you flexible repayment options. Also, offers low-interest rates for higher loan amount for Car Loan.

Capital First provides Car Loans at a reasonable interest rate to the customer for buying a car whether new or second-hand. A car loan is easily available which can be got by anyone with a good credit/CIBIL score.

Advantages of Capital First Car Loan

⍟ 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

Capital First Car Loan Eligibility

Documents required for car loans and other eligibility are discussed below.

Capital First Car Loan Interest Rate, Fees, and Charges

Details on car loan interest rate and other charges are given below:

Capital First Car Loan Documents Required

Salaried Individual

Self-Employed Individuals

Self-Employed Non-Individuals

1. Partnership Firms/Societies

2. Private Limited/Limited Companies

How to Increase Your Eligibility for Capital First Car Loan

• Opt for a shorter tenure: When you opt for a shorter tenure to repay the money, the EMI you will pay each month will be higher in Capital First Bank. This will be an indication of your higher repayment capacity for the Capital First Bank Car Loan, which will build a sense of confidence in you.
• Keep your credit score in check: If you wish to increase your Eligibility for a Car Loan for a Capital First Bank car loan, ensure that you have a credit score of over 750. You can use the Free Credit Score tool to check and maintain such a healthy credit score for Capital First Bank Car Loan.
• Maintain a low debt-to-income ratio: A low debt-to-income ratio in Capital First Bank means you have a good balance between your earnings and your spending. This is because before Capital First Bank decide to lend to you, they will check the percentage of your earnings that goes into paying your debts, and a low debt-to-income ratio will indicate your high repayment capacity for Capital First Bank Car Loan.
• Apply for a loan for a lower amount: By applying for a loan for a lower amount, you can increase your eligibility for a Capital First Bank car loan. In addition, a lower loan amount means that the loan will be repaid faster; therefore, the chances of you being eligible for a Capital First Bank loan are higher.

Factors Affecting Capital First Car Loan Eligibility

The eligibility criteria for a car loan will depend on the below-given factors:

• Income: If your income is on the higher side, there is a good chance that your eligibility for a Capital First Bank car loan will be higher. This is because a higher income indicates a higher repayment capacity. To be eligible for a Capital First Bank car loan, your yearly income should be at least Rs.3 lakh.
• Loan amount: Your Eligibility Criteria for Car Loan from Capital First Bank will be higher if you apply for a lower loan amount as if the loan amount is lower, Capital First Bank knows that the loan will be paid off quicker. Hence, they will be more confident to give you the loan for Capital First Bank Car Loan.
• Repayment tenure: Choosing a longer repayment tenure can decrease your eligibility for a car loan in Capital First Bank. It might give an impression to the bank that you do not possess the ability to pay Your Capital First Bank loan.
• Credit score: This is an important factor that every bank, including Capital First Bank, considers when determining your car loan eligibility. A credit score of 750 and above is considered to be a healthy credit score by Capital First Bank and most lenders.
• Relationship with the bank: As stated earlier, Capital First Bank offers instant car loans to their existing customers, which allow Capital First Bank’s customers to avail a loan instantly, at their convenience, with very few List of documents required for a Car Loan.

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

Capital First 24*7 customer care toll-free number all your general enquiries is For Ahmedabad / Bangalore / Chennai / Delhi & NCR / Hyderabad / Kolkata / Mumbai / Pune / Chandigarh / Cochin / Indore / Jaipur / Lucknow dial 1860 500 9900

An applier has the choice to check the EMI’s before getting a Car Loan. Thus, you can easily check through the link below:

Car Loan EMI Calculator

Capital First Car Loan Types

Capital First offers 3 types of car loans to its consumers. You have a choice of choosing the offer which suits your need the best. Capital First provides the following types of Car Loans:

1. New Car Loan –  If you want to buy a new car, this is the scheme for you. You can get a Car Loan from Capital First for a minimum of Rs. 10,000 and a minimum tenure of 7 years.
2. Used Car Loan – If you want to purchase a used car then you can choose to offer a minimum loan of Rs. 10,000 and a minimum tenure of 5 years.
3. Loan Against Car – You can choose this proposal if you need urgent funds where you can keep your cars as collateral with the bank.

Capital First Car Loan Pre Calculated EMI

How to Apply for Capital First Car Loan?       

1. Visit Dialabank and fill a form.
2. Our Relationship Manager will contact you and guide you throughout the process.
3. You can compare various offers from banks and choose the offer according to your suitability.
4. So, you can easily apply for a Car Loan through Dialabank and enjoy the best offers.
5. Eligibility criteria for a car loans are discussed in the above contents.

Tips to Decide the Right Amount of EMI in Car Loan

• Ascertain the amount you need to borrow: It is important that before approaching Capital First Bank for a loan, you inform them about the amount of loan you need to borrow. Limit your Capital First Bank loan amount after accounting for your own available funds.
• Review your current obligations: Before taking a Capital First Bank loan, it is advisable to check your expenses, including any EMI obligations that you have on your current loans. This assessment will help you estimate the amount of EMI you will be able to pay comfortably for the Capital First Bank Loan after taking into account other obligations.
• Calculate your Capital First Bank car loan eligibility: Your Capital First Bank eligibility is an assessment of your repayment capacity based on your monthly income. Capital First Bank provides an LTV up to 100 % of the ex-showroom price and expects the borrower to fund the remaining value of the property with their own money.
• Multiplier-based loan amount eligibility: Capital First Bank also calculates your eligibility by applying a multiplier to your net take-home salary. This is the simplest method for calculating Your Capital First Bank loan eligibility.
• FOIR based loan amount eligibility: Capital First Bank will also estimate your Fixed Income to Obligations Ratio (FOIR) to find out the maximum EMI you can service based on your current income and other monthly expenses. Capital First Bank applies a certain ratio to your income to estimate your monthly expenses and then adds your other EMI obligations in Capital First Bank or other banks to calculate your fixed obligations.

Car Loan EMI Changes in Case of Pre-payment

In case you prepay your vehicle loan, a small penalty is issued. Prepayment in Capital First is 5% from 13-24 months, 3% after 24 months. When you prepay, the outstanding balance on your vehicle loan reduces. Capital First gives you two options:

• Reduce your loan tenure and keep EMI on your car loan unchanged
• Reduce the amount of EMI and keep your loan tenure the same

How to Calculate Capital First Car Loan EMI

Before you avail of a car loan from Capital First, you may want to know how much amount you will be paying every month. This is simply known as EMIs or equated monthly instalments and it offers an easy way to repay your car loan. By calculating the EMI, you will be able to budget your monthly expenses better.

You can calculate the EMI for your car loan by using the below-given formula:

E = P*r*[(1+r) ^n/((1+r) ^n-1)]

In the above formula, E is the EMI, P the principal amount, r the interest rate, and n the number of years or tenure of the loan.

You can also calculate the EMI by using the EMI Calculator tool wherein you just need to enter the loan amount, interest rate, repayment tenure, processing fee, etc. The tool will calculate the EMI and display it to you.

Capital First Car Loan for Top Selling Cars

Other Available Products from Capital First

Compare Capital First Car Loan With Other Banks In India

FAQs for Capital First Car Loan

✅ What is Capital First Car Loan?

Capital First Car Loan is a car loan for you that provides you funds for purchasing a new car and used car as well.

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

You can get a car loan from Capital First by visiting the nearest Capital First branch. You will get the benefit to apply from anywhere.

✅How does Capital First Car Loan work?

Capital First works for providing funds for a car loan at attractive interest rates. You can avail a car loan easily and quickly. Capital First offers a flexible loan tenure period.

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

The interest rate in Capital First for a car loan starts at 7.50%.

✅How to Check Car Loan status in Capital First?

You must visit the Capital First branch to check your car loan status. Also, you can use the net-banking services of Capital First to know your car loan status.

✅How to Calculate Car Loan interest in Capital First?

To calculate your car loan interest in Capital First, the information required is:

• Loan tenure
• Loan amount
• Interest rate

You can calculate your car loan interest and EMI in Capital First through the EMI calculator.

✅What is the maximum loan amount I can avail myself of on a Car Loan from Capital First?

The maximum loan amount that you can avail of for a car loan from Capital First is up to 100% of the Car Price or up to Rs. 5 lakh.

✅What is the loan tenure of Capital First Car Loan?

The loan tenure of Capital First ranges between 1 to 7 years.

✅Can I get a 100% Car Loan from Capital First?

Yes, you can get a loan up to 100% Car Loan from Capital First.

✅How much processing fee is applicable to Capital First Car Loan?

2% of the loan amount is the processing fee applicable to Capital First for getting a car loan.

✅What are the EMI options available on Capital First Car Loan?

The EMI option available on Capital First car loan is Step-up EMI.

✅What are the charges for Prepayment in Capital First Car Loan?

The prepayment charges in Capital First is 4% of the principal outstanding for availing of a car loan.

✅Can I get a top-up loan on my existing Capital First Car Loan?

Yes, you can get a top-up loan on your existing Capital First car loan. Also, get a top-up car loan by visiting the online platform of Dialabank.

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

No, there is no need for a guarantor to avail a car loan from Capital First.

✅How to get a Capital First Car Loan Statement?

For getting a car loan statement of capital First, you can utilize Capital First’s mobile banking app. Also, visit the nearest Capital First branch.

✅How to pay Capital First Car Loan interest online?

You can pay your car loan interest using the net-banking services of Capital First. If you want a low-interest car loan, you must visit Dialabank online.

✅What if I can’t pay the interest on Capital First Car Loan for 3 months?

If you can’t pay the interest on Capital First Car Loan for 3 months, then it will add up to the outstanding loan amount and repayment charges will reframe.

✅How can I apply for EMI Moratorium on Capital First Car Loan?

You can apply for EMI Moratorium on Capital First by visiting the nearby branch of Capital First or you can submit a request through an email. Also, if you want relief for the balance duration, you must apply through Dialabank.

✅What is the number for Capital First Car Loan agent?

The number for Capital First Car Loan agent is 9878981166.

✅Can I close the Capital First car loan online?

You can close your car loan from Capital First by using Capital First’s net-banking page. You have to log in with your details on the net -banking page and pay your car loan.

✅What is Capital First Car Loan Customer Care Number?

The customer care number of Capital First for car loan queries is 9878981166.

✅How can I get NOC from Capital First for a car loan?

You can get a car loan NOC from Capital First when you will pay your car loan amount.

✅ What is the Capital First Car Loan closure procedure?

• Just go to the bank with the documents.
• Write a letter for pre-closure of the Capital First Car Loan account.
• Pay the pre-closure charges as per Capital First Car Loan.

✅ What are the Capital First Car Loan preclosure charges?

Capital First Car Loan preclosure charges are 2% of the outstanding principal.

✅ What is the Capital First Car Loan maximum tenure?

The Capital First Car Loan’s maximum tenure is 7 years.

✅ What is the Capital First Car Loan minimum tenure?

The Capital First Car Loan minimum tenure is 1 year.