GET INSTANT CAR LOAN

I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Buy your dream Car

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

Capital Small Finance Bank Car Loan

Capital Small Finance Bank Car Loan Key Features – Jan 2021

Capital Small Finance Bank Car Loan Interest Rate 7.05% 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.

Capital Small Finance Bank Car Loan Eligibility

Documents required for a car loan and other eligibility are discussed below.

Salaried Individual
  • Age – 21-60 years of age
  • Employment Duration – More than one year
  • Income Eligibility – Present Form 16 and Salary Slip
  • Net Monthly Income – should be a minimum of ₹ 20,000
Self-Employed Individuals
  • Age – 21-65 years of age
  • Minimum ITR  – Rs. 2 Lakh or more depending on the car variant.
  • Employment Duration – >3 years
  • Income Eligibility – Based on ITR
Self-Employed Non-Individuals (Company/Partnership)
  • Minimum ITR  – Rs.2 Lakhs
  • Employment Duration – A Minimum of 3 years
  • ITR and Audited Documents of Previous 2 Financial Years.
Priority Customers
  • Maximum Loan Amount – 3 X Average Quarterly Balance of Last two quarters
  • Average Quarterly Balance – Minimum Rs.1 lakh for the last two quarters

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   7.05% 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 choose a shorter repayment tenure, the EMI that you will be paying each month will be higher. This is an indication of your higher repayment capacity which will lead to banks feeling confident to lend to you. So, if you wish to boost your eligibility for a car loan, opt for a shorter repayment tenure.
  • Keep your credit score in check – If you wish to increase your eligibility for a Capital Small Finance Bank car loan, make sure that you maintain a credit score of over 750. You can use the Free Credit Score tool to check and maintain a healthy credit score. Checking your credit score regularly can let you take corrective measures to improve it if your score is low or give you the confidence to approach the bank if it is high.
  • Maintain a low debt-to-income ratio – A low debt-to-income ratio means that you have a good balance between your earnings and spends. Before banks lend to you, they will check how much percentage of your earnings goes into paying your debts and a low debt-to-income ratio will be an indication of your high repayment capacity. To enhance your eligibility for a car loan, you should ensure that you maintain a low debt-to-income ratio.
  • 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. A lower loan amount means that the loan will be repaid sooner and hence, the chances of you being eligible for a loan is higher. Eligibility criteria for a car loan is dicussed in the above contents

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 are good chances of your eligibility for a Capital Small Finance Bank car loan being higher. This is because a higher income indicates 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 for a car loan from Capital Small Finance will be higher if you apply for a lower loan amount simply because if the loan amount is lower, the bank knows that the loan will be paid off quicker. Hence, they will be more confident to lend to you.
  • Repayment tenure – Choosing a longer repayment tenure can lower your eligibility for a car loan as it might give an impression to the bank that your ability to pay the loan is lower. This is because longer repayment tenure results in lower EMIs and the lender may tend to think that you cannot afford to pay higher EMIs. Therefore, the bank may be reluctant to lend to you.
  • Credit score – This is an important factor that most banks, including Capital Small Finance Bank, consider when determining your eligibility for a car loan. A credit score of 750 and above is considered a healthy credit score by most lenders. If you have a healthy CIBIL score, banks will be happy to offer you a car loan and hence, your eligibility will be higher.
  • Relationship with the bank – As stated earlier, Capital Small Finance Bank offers instant car loans to their existing customers through the ZipDrive feature. This feature allows Yes Bank customers to can avail of loans instantly, at their convenience, with negligible documentation. This indicates that your relationship with the bank is an important factor while determining your eligibility.

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 Licence
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?

  1. Fill a form on Dialabank’s website.
  2. Get assistance from our Relationship Manager throughout the loan process.
  3. Our representative will guide you and help you compare among various options available.
  4. Choose Dialabank to apply for Car Loan for getting best deals on it.

Tips to decide the right amount of EMI

  • Ascertain the amount you need to borrow: It is important that before approaching a bank for a loan, you inform them about the amount of loan you need to borrow. Limit your loan amount after accounting for your own available funds. Furthermore, based on the EMI you can service, try to opt for the lowest tenure of loans as long tenure loans can result in huge interest outgo.
  • Review your current obligations: Before taking a loan, it is advisable to check your expenses, including any EMI obligations that you have on your current loans. This assessment will help you to estimate the amount of EMI which you will be able to pay comfortably after taking into account other obligations. Once you arrive at the EMI, you can also decide on the right loan tenure.
  • Calculate your Axis Bank car loan eligibility: Your eligibility is an assessment of your repayment capacity based on your monthly income. Capital Small Finance Bank provides an LTV up to 100 % of the ex-showroom price and expects the borrower to fund the remaining value of the property by own money
  • Multiplier-based loan amount eligibility – Capital Small Finance Bank also calculates your eligibility by applying a multiplier to your net take-home salary. This is the simplest method for calculating loan eligibility used by banks. Usually, it is 2.5 to 3 times the annual salary for salaried individuals and 6 times the annual income for self-employed professionals. The multiplier depends on the bank’s internal categorization of your company that is based on its reputation, stability, size, and growth in turnover.
  • FOIR based loan amount eligibility – Capital Small Finance 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. The bank applies a certain ratio to your income to estimate your monthly expenses and then adds your other EMI obligations to calculate your fixed obligations. The proportion of fixed income to your calculated fixed obligations gives your FOIR. Generally, banks lend up to a maximum FOIR of 0.50. Based on the FOIR, the bank will also estimate the maximum amount of EMI you can service as a borrower. Capital Small Finance Bank’s assessment may be different from your own assessment. Any differences in assessment may require you to readjust your loan amount requirement. You may also consider paying back other running short-term loans to improve your eligibility.

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:

  • Reduce your loan tenure and keep EMI on your car loan unchanged: This alternative allows you to shut your loan prior and save the interest outgo associated with the remaining term. This is suitable for borrowers who feel that they have adequate income to continue servicing the same level of EMIs.
  • Reduce the amount of EMI and keep your loan tenure same: This option provides you to reduce your monthly EMI and hence, increases the availability of monthly surplus which you can deploy for other purposes. This is suitable for borrowers who anticipate higher monthly personal expenses and hence, would require to reduce their monthly EMI obligations.

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.

Car Loan EMI Calculator

Capital Small Finance Bank Car Loan Types

Considering customer needs to buy a car Capital Small Finance provides various types of Car Loans:

  1. New Car Loan –  Buy any new car and get a loan for a long tenure of up to 7 years.
  2. Used Car Loan – Buy any used car and get a loan for a long tenure of up to 5 years.
  3. 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
ICICI 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?

7.05% 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.

Punjab Gramin Bank Business Loan Syndicate Bank Business Loan
Sutlej Kshetriya Gramin Bank Business Loan Shriram City Business Loan
Sarva Haryana Gramin Bank Business Loan South Indian Bank Business Loan
Utkal Grameen Bank Business Loan Uttar Bihar Gramin Bank Business Loan

 

 

Table of Contents