Car Loan Abu Road

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Car Loan Abu Road

Best Banks for Car Loan in Abu Road

Feature
HDFC Bank
ICICI Bank
Kotak Mahindra Bank
Interest Rate (p.a.)
7.35% - 7.95 %
8.5 - 9.5 %
11%
Min Loan Amt
Metro : 1 Lac & Non Metro: 75000
75000
75000
Max Loan Amt
1 Cr
1 Cr
1 Cr
Loan Tenure
Upto 7 Years
Upto 5 Years
Upto 5 Years
Processing Fee
1999 - 4999 + Tax
0.25% to 1.50%
0.25% to 1.50%
Preclosure Chgs
2%, Nil after 24 months
2%, Nil after 36 months
Nil
Loan to Value (LTV)
Upto 100% on Ex- showroom
Upto 95% on Ex- showroom
Upto 90% on Ex- showroom


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Car Loan Abu Road Features

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

Most leading banks and NBFC’s provide car loans to help borrowers fulfil their dream of having their own car. They provide the necessary funding for purchasing a car with easy repayment options. The loan amount is offered on Interest charges which can vary from bank to bank. Borrowers can pay off the vehicle in easy instalments.

Car Loan Abu Road


car loan

Car Loan Abu Road Eligibility Criteria

The car loan eligibility requirements are as follows in Abu Road:

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


car loan

Car Loan Abu Road EMI Calculator

Car Loan Abu Road Fees & Charges

Charges New Car Loan Used Car Loan
Interest Rate

7.35% per annum

11.80% p.a. to 13.80% p.a.
Car loan Processing fees 0.5% 0.5%
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


car loan

Car Loan Abu Road Fees and Charges: Leading Banks – Dec 05 2021

Bank Processing Fee
Prepayment Charges
HDFC Bank Car Loan (1999 - 4999) + Tax
2%, Nil foreclosure charges after 24 months
Axis Bank Car Loan 1 % to 2.50% Nil
ICICI Bank Car Loan 0.25% to 1.50%
2%, Nil foreclosure charges after 36 months
SBI Car Loan 500/- to 0.50% Nil
Kotak Car Loan 1% to 2%
2.25% of fore closure amount if closed 1 month ahead of the tenure.
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

Car Loan Abu Road Documents Required

Documents required for a car loan are as follows:

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.


car loan

How to Get the Best Car Loan Interest Rates in Abu Road

Several lenders offer car loan plans in Abu Road, and despite varying interest rates, all of them are competitive and reasonable. Follow the steps stated below to get a car loan with the best interest rates in Abu Road: –

  • Choose a shorter repayment term – Car loan seekers often assume that long repayment terms are better because they can pay off the loan in small instalments. This assumption is falsely placed and often results in higher interest rates, so if you want to save money on your car loan, consider a shorter repayment period.
  • Research and compare the perks offered by different lenders -A thorough comparison of different banks and their plans is a must if borrowers are looking for a car loan. Our representatives can help you in this step and even guide you through the approval process.
  • Maintain a modest debt-to-income ratio – The debt-to-income ratio measures how much of an applicant’s income goes toward the repayment of a previous loan, and lenders take this ratio into account when evaluating your loan application. If you have a low debt-to-income ratio, you have a better chance of getting a car loan with a lower interest rate.
  • Maintain a good credit score — Lenders will happily offer you a car loan with cheap interest rates if you have a good credit history and a credit score of 750 or above. A good credit score shows you have paid off your previous loans on time.

How to Apply for a Car Loan in Abu Road?

Applying for a car loan in Abu Road is an easy process with Dialabank. Follow the following steps to apply for a car loan:

  • Visit the dialabank website.
  • Click on the auto loan option on the Dialabank website.
  • Fill out all the required fields in the form.
  • Wait for our team of experts to get in touch with you.
  • You can also visit the nearest branch or call us on 9878981166.

Which Bank in Abu Road Offers the Best Car Loans?

Huge and reputed lenders like HDFC, ICICI, and SBI offer vehicle loans in Abu Road. The best lender for you is the one that can provide you with the loan amount you need at the lowest interest rate and can disburse the funds as fast as feasible.

Car Loan for Major Car Manufacturers in Abu Road

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Abu Road 

Category Details
Processing Charges
1999 - 4999 + Tax
Prepayment
No prepayment is allowed until 12 EMIs are paid
Preclosure
No foreclosure is allowed until 12 EMIs are paid
Prepayment Charges
13-24 months: 2% of loan principal outstanding
>36 months: Nil Charges
Stamp Duty
As per state laws
Cheque Bounce Chgs
₹ 550/chq + GST
Floating Rate of Interest Not Applicable
Overdue EMI Interest
2% p.m.(on overdue amount)
Amortisation Schedule Chgs Rs 200 + GST


car loan

CIBIL Score Required for Car Loan in Abu Road

Your CIBIL score reflects your credit history as well as your defaults in repayment of your older loans. A credit score between 750 and 900 is considered necessary by most financial institutions. Every lender has different criteria for a minimum CIBIL score they require to process your loan. A Lower CIBIL score than 750 can attract a higher rate of interest.


car loan

Car Loan Abu Road Contact Number

For any queries regarding the car loan in Abu Road, you can call us on 9878981166.


car loan

Pre Calculated EMI Table for Car Loan Abu Road

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


car loan

About Abu Road

Abu Road is a city in the Sirohi district of Rajasthan.


car loan

Abu Road: Bank and IFSC Codes

BANK OF BARODA ABU ROAD, DIST SIROHI, PIN-387026 BARB0ABROAD
DENA BANK EABAK, AMBAJI ROAD, NEAR HPC PETROL PUMP, ABROAD, ISTTSIROHI, RAJASTHAN 307026 BKDN0751841
CENTRAL BANK OF INDIA PARSI CHAL, P.O.ABU ROAD, DIST-SIROHI, RAJASTHAN-307 026. CBIN0282458
HDFC BANK HDFC BANK LTD MEWARA COMPLEX, NEAR SHANTI KUNJ PARK, MOUNT ROAD HDFC0002339
ICICI BANK LIMITED ICICI BANK LTD., SHREE RAM COMPLEX, RICCO SHOPPING CENTRE, ABU ROAD, SIROHI, RAJASTHAN- 307026 ICIC0001743
ICICI BANK LIMITED ICICI BANK LTD, MAIN ROAD GIRWAR TEH-ABUROAD DISTT-SIROHI STATE-RAJASTHAN PIN-307026 ICIC0004069
ICICI BANK LIMITED SADAR BAZAR,ABU ROAD,TEH.ABU ROAD,307026 ICIC0006802
INDIAN OVERSEAS BANK WARD NO 3 MOUNT RAOD, ABU ROAD, 307026 IOBA0002330
PUNJAB NATIONAL BANK BANK STREET ABU ROAD PUNB0000200
STATE BANK OF INDIA DISTTSIROHI 307026 SBIN0031520
STATE BANK OF INDIA STATE BANK OF INDIA, LIC BUILDING, RIICO INDUSTRIAL AREA, ABU ROAD PIN CODE 307026. SBIN0032102
SYNDICATE BANK 8284,MAIN MARKET,AZAD MAIDAN,ABU ROAD,DISTT SIROHI,RAJASTHAN307026 SYNB0008435
AXIS BANK GROUND FLOOR, PLOT NO.2 (A&B), WARD NO. 30, MOUNT ROAD, NEAR SHANTI KUNJ, ABU ROAD, RAJASTHAN, PIN 307026 UTIB0001126
VIJAYA BANK NR MANALI HOTEL, OLD CHECK POST, ABU ROAD, RAJASTHAN VIJB0007062
YES BANK GROUND FLOOR, KHASRA NO 78 AND 79, MOUNT ROAD, NR SHANTI KUNJ, PO ABU, ROAD, DISTT SIROHI, ABU ROAD, RAJASTHAN-307026 YESB0000325

FAQ’s About Abu Road Car Loan

✅ Is a car loan interest rate negotiable?

The car loan interest rate is negotiable depending on your FICO rating, record and past relationship with the lender you usually work with.

✅ What car loan tenures are usually there?

Most banks offer car loans with tenures ranging from a year to 7 years, depending on the loan amount and client’s reimbursement capacities.

✅ Is a guarantor obligatory for a car loan?

A guarantor is required just in case you can’t meet at least one of the qualification measures indicated by the Bank or NBFC.