Capital Small Finance Bank Car Loan Key Features – Jan 2021
| Capital Small Finance Bank Car Loan Interest Rate | 7.35% per annum |
| Min Loan Amount | ₹ 1,00,000 |
| Max Loan Amount (Loan to Value) |
Loan up to 80% of On Road Price or 100% of Ex-showroom Price |
| Loan Tenure | Up to 7 Years |
| Lowest EMI / Lac | ₹ 1,300 |
| Minimum Net Monthly Income | ₹ 20,000 |
| Minimum ITR for Self Employed | ₹ 2,00,000 |
| Age Criteria | Salaried: 21 years to 60 years Self Employed: 21 years to 65 years |
| Types of Cars | For All New Passenger Cars, Multi Utility Vehicles (MUVs), and Sport Utility Vehicle (SUVs). |
| Processing Fee | 0.40% |
| Foreclosure Charges | As per the lender’s terms and conditions. |
| Basic Documentation | Car quotation, Salary Slip, ID Proof, Address Proof and Bank Statement |
About Capital Small Finance Bank Car Loan
Capital Small Finance Bank started working on April 24, 2016, as India’s first small finance bank. It was earlier Capital Local Area Bank and was most significant in the business.
Headquartered in Jalandhar, Punjab, Capital Small Finance Bank has their card acceptance in more than 2.40 lakh ATMs. Capital Small Finance Bank provides car loans at a reasonable rate of interest by checking the eligibility criteria set by the authority.
Advantages of Capital Small Finance Bank Car Loan
Capital Small Finance Bank Car Loan Eligibility
Documents required for a car loan and other eligibility are discussed below.
| Salaried Individual |
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| Self-Employed Individuals |
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| Self-Employed Non-Individuals (Company/Partnership) |
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| Priority Customers |
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Capital Small Finance Bank Car Loan Interest Rate, Fees and Charges
Details on car loan interest rate and other charges are given below:
| Charges | New Car Loan | Used Car Loan |
| Interest Rate | 7.35% per annum |
14.80% p.a. to 16.80% p.a. |
| Processing fee | 0.40% | 0.40% |
| Issuance of Duplicate Repayment Schedule Charges | Approx Rs.400 | Approx Rs.400 |
| Foreclosure Charges | As per lender’s terms and conditions. | As per lender’s terms and conditions. |
| Penal Interest | Not applicable | Not applicable |
| Part Payment charges | 5% of the paid amount | 5% of the paid amount |
| Cheque/Instrument Swap Charge | Approx Rs.400 | Approx Rs.400 |
| Documentation Charge | Approx Rs.400 + GST | Approx Rs.400 + GST |
| Issuance of Duplicate No Dues Certificate Charges | Approx Rs.400 | Approx Rs.400 |
| Registration Certification Collection Charge | Approx Rs.200 | Approx Rs.200 |
| Cheque Bounce/Instrument Return Charges | Approx Rs.400 | Approx Rs.400 |
| Issuance of Duplicate Statement Charges | Approx Rs.400 | Approx Rs.400 |
| Loan Cancellation/Re-booking Charges | 5% + GST | 5% + GST |
| Issuance of Credit Report | Approx Rs.50 | Approx Rs.50 |
How to Increase Your Eligibility for Capital Small Finance Bank 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 Small Finance Bank. This will be an indication of your higher repayment capacity for the Capital Small Finance 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 Car Loan for a Capital Small Finance 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 Small Finance Bank Car Loan.
- Maintain a low debt-to-income ratio: A low debt-to-income ratio in Capital Small Finance Bank means you have a good balance between your earnings and your spending. This is because before Capital Small Finance 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 Small Finance 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 Small Finance 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 Small Finance Bank loan are higher.
Factors Affecting Capital Small Finance Bank Car Loan Eligibility
The eligibility for availing of a Yes Bank car 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 Small Finance Bank car loan will be higher. This is because a higher income indicates a higher repayment capacity. To be eligible for a Capital Small Finance Bank car loan, your yearly income should be at least Rs.3 lakh.
- Loan amount: Your Eligibility Criteria for Car Loan from Capital Small Finance Bank will be higher if you apply for a lower loan amount as if the loan amount is lower, Capital Small Finance Bank knows that the loan will be paid off quicker. Hence, they will be more confident to give you the loan for Capital Small Finance Bank Car Loan.
- Repayment tenure: Choosing a longer repayment tenure can decrease your eligibility for a car loan in Capital Small Finance Bank. It might give an impression to the bank that you do not possess the ability to pay Your Capital Small Finance Bank loan.
- Credit score: This is an important factor that every bank, including Capital Small Finance 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 Small Finance Bank and most lenders.
- Relationship with the bank: As stated earlier, Capital Small Finance Bank offers instant car loans to their existing customers, which allow Capital Small Finance Bank’s customers to avail a loan instantly, at their convenience, with very few List of documents required for a Car Loan.
Capital Small Finance Bank Car Loan Documents Required
Salaried Individual
| Category | Documents Required |
| Identity Proof
(Any 1) |
Aadhar Card Passport Voter ID PAN Card |
| Address Proof
(Any 1) |
Electricity Bill Aadhar Card Driving License |
| Date of Birth Proof
(Any 1) |
Birth Certificate Aadhar card High School Marksheet |
| Signature Proof
(Any 1) |
Banker’s Verification Passport |
| Income Proof | Latest Form 16 and Salary Slips |
| Bank Statement | Bank statement of last three months |
| Employment Continuity Proof | Salary Slip with Joining Date Work Experience Certificate ITR of Form 16 |
Self-Employed Individuals
| Category | Documents Required |
| Identity Proof (Any 1) | Aadhar card PAN Card Passport DL |
| Address Proof (Any 1) | Utility Bill Driving License Electricity Bill Rent Agreement |
| Date of Birth Proof (Any 1) | Birth Certificate Passport High school Mark Sheet Driving License |
| Signature Proof (Any 1) | Bankers Verification PAN |
| Income Proof | Form 16 and Salary Slips |
| Bank Statement | Bank statement of the previous three months |
| Employment Continuity Proof | Current Account Statement Shop & Establishment Act Certificate Sales Tax or VAT Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Business Proof | Shop & Establishment Act Certificate Telephone Bill/Electricity Bill SSI or MSME Registration Certificate Registered Lease Document and utility bills of the same |
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
| Category | Documents Required |
| Identity Proof (Any 1) | PAN Card Aadhar Card Passport |
| Address Proof (Any 1) | Passport Driving License Electricity Bill |
| Income Proof | P&L Account and ITR for at least last 2 Years Balance Sheet Audited |
| Bank Statement | Bank statement of the previous two months at least |
| Business Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Additional documents | Authority Letter/PAN cards |
2. Private Limited/Limited Companies
| Category | Documents Required |
| Identity Proof | Copy of Latest MOA Copy of Incorporation Copy of Latest AOA |
| Address Proof (Any 1) |
Current Account Statement
Telephone Bill Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate Registered Lease Document with other utility bills |
| Income Proof | Audited Balance Sheet P&L Account and ITR for the previous two years |
| Bank Statement | Bank statement of last three months |
| Business Continuity Proof | SSI or MSME Registration Certificate Shop & Establishment Act Certificate Sales Tax or VAT Certificate Current Account Statement |
| Additional documents |
PAN Card
List of Directors and Shareholding Partners Board Resolution Certificate of Commencement of Business for Ltd. Co. |
Capital Small Finance Bank Car Loan Pre Calculated EMI
| Loan Amount | 2 Years | 3 Years | 5 Years | 7 Years |
| 1 Lakh | ₹ 4,480 | ₹ 3,090 | ₹ 1,982 | ₹ 1,512 |
| 3 Lakh | ₹ 13,439 | ₹ 9,270 | ₹ 5,947 | ₹ 4,535 |
| 5 Lakh | ₹ 22,398 | ₹ 15,450 | ₹ 9,912 | ₹ 7,559 |
| 10 Lakh | ₹ 44,795 | ₹ 30,900 | ₹ 19,825 | ₹ 15,117 |
How to Apply for Capital Small Finance Bank Car Loan?
- Fill a form on Dialabank’s website.
- Get assistance from our Relationship Manager throughout the loan process.
- Our representative will guide you and help you compare among various options available.
- Choose Dialabank to apply for Car Loan for getting best deals on it.
Tips to decide the right amount of EMI
The car loan EMI – EMI changes in case of prepayment
In case you prepay your loan for the vehicle, a small penalty is charged. Prepayment in Capital Small Finance Bank is 5% from 13-24 months, 3% after 24 months. When you prepay, the outstanding balance on your loan for the vehicle reduces. Capital Small Finance Bank provides you two options:
How to Calculate EMI on Capital Small Finance Bank Car Loan
Before an applicant avail of a car loan from Capital Small Finance Bank, you may require to understand how much amount you will be paying towards the loan each month. This is simply known as EMIs or equated monthly installments and it offers an easy way to repay your car loan. By calculating the EMI, you will be able to budget your monthly expenses finely.
One can easily 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 denotes the EMI, P the principal amount, in the interest rate, and n the number of years or tenure of the loan.
One 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 Small Finance Bank Car Loan EMI Calculator
Calculate your Capital Small Finance Bank Car Loan EMI Easily using Dialabank’s Calculator in just simple steps.
Capital Small Finance Bank Car Loan Types
Considering customer needs to buy a car Capital Small Finance provides various types of Car Loans:
- New Car Loan – Buy any new car and get a loan for a long tenure of up to 7 years.
- Used Car Loan – Buy any used car and get a loan for a long tenure of up to 5 years.
- Loan Against Car – Get a loan against your pre-owned car and avail funds for any of your needs.
Compare Yes Bank Car Loan with other Banks in India
| Car loan Banks | Interest Rates | EMI per Rs 1 lakh for 7 Years |
| Bank Of Baroda Car Loan | 8.80% – 10.55% | Rs. 1,599 – Rs. 1,689 |
| Canara Bank Car Loan | 8.70% – 9.35% | Rs. 1,594 – Rs. 1,627 |
| Corporation Bank Car Loan | 8.75% – 9.50% | Rs. 1,596 – Rs. 1,634 |
| HDFC Bank Car Loan | 8.50% – 11.25% | Rs. 1,584 – Rs. 1,725 |
| Private Bank Car Loan | 8.82% – 12.75% | Rs. 1,600 – Rs. 1,806 |
| Union Bank Car Loan | 8.85% – 11.85% | Rs. 1,601 – Rs. 1,757 |
| SBI Car Loan | 8.65% – 9.70% | Rs. 1,609 – Rs. 1,645 |
Capital Small Finance Bank Car Loan for Top Selling Cars
Other Available Products from Capital Small Finance Bank
| Personal Loan | Car Loan | Education Loan |
| LAP | TWL | Home Loan |
FAQs for Capital Small Finance Bank Car Loan
✅ What is Capital Small Finance Bank Car Loan?
Capital Small Finance Bank Car Loan is a financial product of Capital Small Finance Bank which provides Loan to the customers for purchasing a Car.
✅ How can I get a Car Loan from Capital Small Finance Bank?
You can apply for Car Loan with Capital Small Finance Bank by directly contacting the branch or apply with Dialabank for exciting offers on Car Loan.
✅ How does Capital Small Finance Bank Car Loan work?
Capital Small Finance Bank provides Loan to applicants willing to purchase a new car and car is the only collateral involved in the process. Monthly EMIs are fixed with interest rates being charged on it.
✅ What is the Car Loan Interest Rate in Capital Small Finance Bank?
7.35% per annum
is the Minimum Rate of Interest charged by the Capital Small Finance Bank against the loan.✅ How to Check Car Loan status in Capital Small Finance Bank?
You can check your Car Loan status by directly entering your Loan details in “Loan Status” address on Capital Small Finance Bank official website. Or contact your Capital Small Finance Bank Loan Department.
✅ How to Calculate Car Loan Interest in Capital Small Finance Bank?
You can easily calculate Interest as well as EMI of your Loan by using Dialabank’s EMI Calculator.
✅ What is the maximum loan amount I can avail on Car Loan from Capital Small Finance Bank?
Maximum Loan depends upon the Profile of the applicant and Price/variant of the car. Whereas, you can get a loan up to 100% value of the ex-showroom price.
✅ What is the loan tenure of Capital Small Finance Bank Car Loan?
Tenure of Capital Small Finance Bank car Loan can go up to 7 Years.
✅ Can I get a 100% Car Loan from Capital Small Finance Bank?
Yes, you can avail 100% Car Loan on the ex-showroom price of the car.
✅How much Processing Fee is applicable on Capital Small Finance Bank Car Loan?
0.40% is the basic Processing Fee charged by Capital Small Finance Bank on Car Loans.
✅What are the EMI options available on Capital Small Finance Bank car loan?
The EMI options are Step-Up EMI and Balloon EMI.
✅What are the charges for Prepayment in Capital Small Finance Bank Car Loan?
Capital Small Finance Bank Car Loan prepayment Charges are as per the lender’s terms and conditions.
✅Can I get a top-up loan on my existing Capital Small Finance Bank car loan?
Yes, Capital Small Finance Bank provides an option of Top-up Loan on Capital Small Finance Bank Car Loan for existing customers.
✅Do I need to provide a guarantor to avail a car loan from Capital Small Finance Bank?
No, Capital Small Finance Bank Car Loan Doesn’t require any guarantor.
✅How to get the Capital Small Finance Bank Car Loan Statement?
Get your Car Loan Statement from Capital Small Finance Bank Car Loan portal by logging in to it. Or Get it directly from the branch.
✅How to Pay Capital Small Finance Bank Car Loan Interest Online?
Pay your Capital Small Finance Bank car Loan online by using Net Banking on Capital Small Finance Bank’s official website.
✅What if I can’t pay the interest on Capital Small Finance Bank Car Loan for three months?
Bank can take legal actions against you if you fail to pay interest for three months before any prior notice.
✅How can I apply for EMI Moratorium on Capital Small Finance Bank Car Loan?
You can apply for EMI Moratorium by the direct link provided by the Bank through SMS or By visiting Capital Small Finance Bank Official Website.
✅What is the number for Capital Small Finance Bank Car Loan agent?
Dialabank is the most reliable Car Loan agent of Capital Small Finance Bank so Call us at 9878981166.
✅ Can I close Capital Small Finance Bank car loan online?
You can initiate the Loan Closure procedure online but have to visit the branch to finish it.
✅ What is Capital Small Finance Bank Car Loan Customer Care Number?
Ring us at 9878981166 for any of your questions.
✅ How can I get NOC from Capital Small Finance Bank for a car loan?
Collect your NOC directly from the branch after closing your loan account and paying off all your outstanding amounts.
✅ What is the Capital Small Finance Bank Car Loan closure procedure?
- Just go to the bank with the documents.
- Write a letter for pre-closure of the Capital Small Finance Bank Car Loan account.
- Pay the pre-closure charges as per Capital small Finance Bank Car Loan.
✅ What is the Capital Small Finance Bank Car Loan preclosure charges?
Capital Small Finance Bank Car Loan preclosure charges are as per the lender’s terms and conditions.
✅ What is the Capital Small Finance Bank Car Loan maximum tenure?
The Capital small Finance Bank Car Loan maximum tenure is 7 years.
✅ What is the Capital Small Finance Bank Car Loan minimum tenure?
The Capital small Finance Bank Car Loan minimum tenure is 1 year.
