Best Banks for Car Loan in Shimla
Car Loan Shimla Features
As the development of our country speeds up, so does the development of roads. This increases the desire to have one’s own means of travel, but paying out of one’s own pocket isn’t always a viable option. This is where car loans help you. Dialabank assists you to acquire a car loan easily and on your own terms, for both brand-new and second-hand cars, and for both ex-showroom and on-road prices. The features of car loans in Shimla are as follows:
- Car loans are available at low-interest rates
- Almost all major banks and NBFCs offer car loans in Shimla in your vicinity
- The documentation process is quick and hassle-free
- Car loans are easily available through DialaBank
Car Loan Shimla Interest Rate
Bank
Processing Fee
HDFC Bank Car Loan
(1999 - 4999) + Tax
Axis Bank Car Loan
1 % to 2.50%
Nil
Private Bank Car Loan
0.25% to 1.50%
SBI Car Loan
500/- to 0.50%
Nil
Kotak Car Loan
1% to 2%
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 Shimla Documents Required
Documents required for car loan are as followed:
For Salaried Individuals:
- Proof of Identification: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: Latest 3-month salary slip with form 16
- Residence Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
For Self Employed Individuals:
- Identification Proof: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: Latest ITR
- Address Proof(anyone): Ration card/ Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
Car Loan Shimla Eligibility Criteria
To obtain the loan amount, a person must meet the Eligibility criteria for car loan.
You should be at least 21 years of age to apply for car loan. The maximum age of a person should be 65 years at the time of maturity of the loan.
For Salaried: You should be having a minimum of 2 years of employment and you should be working for at least 1 year in your current employment. The minimum annual salary required is Rs. 100000 as net annual income.
For Self Employed: You should be in the business for at least 3 years. A net profit of at least Rs. 60000 p.a. should be there for standard cars and Rs. 100000 p.a. for mid-sized and premium cars.
Car Loan for Major Car Manufacturers in Shimla
TABLE WILL APPEARProcessing Fees & Prepayment Charges on Car Loan Shimla
Category
Details
Processing Charges
Prepayment
Preclosure
Stamp Duty
Cheque Bounce Chgs
Floating Rate of Interest
Not Applicable
Overdue EMI Interest
Amortisation Schedule Chgs
Rs 200 + GST
CIBIL Score Required for Car Loan in Shimla
The CIBIL score is very important for a car loan and is referred to as what defines your ability to pay off your credits and is based on your repayment history. A higher credit score means good credit history and makes your car loan application process smooth and easy, while a lower score might charge you higher interest rates. Mostly, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Shimla. This score may again vary from bank to bank.
Car Loan Shimla Contact Number
In case you have any queries regarding the best car loan in Shimla, you may call us on the number 9878981166 for any sort of assistance.
Pre Calculated EMI Table for Car Loan Shimla
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 Shimla
Shimla is the capital of the state of Himachal Pradesh. It is known for its Victorian architecture, its handicraft shops, it’s pedestrian avenue as well as the Lakkar Bazaar which specializes in wooden toys and crafts. Its population is around 1.7 lakhs.
Car Loan EMI Calculator