Car Loan Adalaj

Best Banks for Car Loan in Adalaj

Feature	HDFC Bank	Private 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

Car Loan Adalaj 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

A number of lending institutions like banks and NBFC provide funds for buying a car with offers so exciting you would not want to miss out. Dialabank will get you the best offers on car loans and guide you throughout the application and approval process.

Car Loan Adalaj Eligibility Criteria

The car loan eligibility requirements are as follows in Adalaj:

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 Adalaj EMI Calculator

Car Loan Adalaj 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 Adalaj Fees and Charges : Leading Banks – Apr 25 2024

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
Private 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 Adalaj Documents Required

Documents required for 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.

How to Get the Best Car Loan Interest Rates in Adalaj

Lenders in Adalaj offer a number of plans with varying interest rates when it comes to car loans, but all of them are comparatively reasonable. To get car loans in Adalaj with the lowest Interest rates, follow the steps below:

Choose a short repayment tenure – A number of car loan applicants believe that long repayment tenures are better because the EMI’s on them is low. They aren’t aware of the fact that lenders charge higher interest rates from people with longer repayment plans. If the borrower wants to save some money on their car loan, they should consider a short repayment tenure.
Research and compare different lenders – If you want to get a good deal on your car loan, you must first compare the plans offered by different banks. Dialabank can help you in this step; our representatives can help you figure out which bank has the best interest rates.
Maintain an acceptable debt-to-income ratio – The debt-to-income ratio of an individual helps measure how much of the borrower’s income goes toward an existing loan’s repayment. If the borrower’s debt-to-income ratio is low, they have a better chance of getting a car loan with better interest rates.
Maintain a good credit score — Banks and NBFCs consider a credit score of above 750 to be healthy. You can check your credit scores regularly with Dialabank’s “Free Credit Score” service to guarantee you have a good credit score at the time of applying for a car loan. If your credit score is low, you can take remedial actions and fix it before applying for a loan.

How to Apply for a Car Loan in Adalaj?

Applying for a car loan in Adalaj is a pretty easy process when Dialabank is by your side. Follow the following steps to apply for a car loan:

Visit Dialabank’s official website.
Click on the car loan option available on the website menu.
Fill in the required fields regarding your car type and your income.
Wait as our relationship manager will instantly get in touch with you on the number you provided.
You may also contact our relationship managers on 9878981166 in case of any queries regarding the loan.
For availing of a car loan offline, you will have to visit the branch personally, which might turn to be hectic for you.

Which Bank in Adalaj Offers the Best Car Loans?

Many lenders, including SBI, HDFC, and Muthoot offer vehicle loans in Adalaj. The best lender for you is one that can provide you with the loan amount you need at a reasonable interest rate and can disburse funds as fast as feasible. The borrower should always compare vehicle loans from various lenders before applying for one that meets all of his needs.

Car Loan for Major Car Manufacturers in Adalaj

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Adalaj

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
Prepayment Charges	>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

CIBIL Score Required for Car Loan in Adalaj

CIBIL score is the score that a bank checks before it processes your loan application. You can also check your CIBIL score on the CIBIL website so that you can understand how to make your CIBIL score better and also make a better saving on the interest rates and may also get a better offer from the banks. A good CIBIL score generally ranges from 750 to 900.

Car Loan Adalaj Contact Number

You can get a car loan in Adalaj easily by contacting Dialabank representatives on the number 9878981166.

Pre Calculated EMI Table for Car Loan Adalaj

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 Adalaj

Adalaj is a town in Gandhinagar district in the Indian state of Gujarat. As per the 2001 Census, it has a population of around 9774 people.

Car Loan Banks in Adalaj

CENTRAL BANK OF INDIA	OPP.GRAM PANCHAYAT OFFICE, ADALAJ, DIST-GANDHINAGAR, GUJARAT-382 421	CBIN0280466
CORPORATION BANK	GROUND AND FIRST FLOOR, KRISHNA COMPLEX, BALAPIR CHOKDI, CHANDKHEDA HIGHWAY ROAD, ADALAJ-382421	CORP0001363
UNION BANK OF INDIA	SIMANCHAR CITY TRIMANDIR CAMPUSAHMEDABAD KALAOL HIGHWAY ADALAJ GANDHINAGAR GUJARAT 382421	UBIN0556769
YES BANK	SHOP NO 19-20, CITY MALL, SABARMATI ROAD, ADALAJ, GUJARAT-382421	YESB0000363

FAQ’s About Adalaj Car Loan

✅ What types of cars can I purchase with a car loan?

Car loans can be used to buy various passenger vehicles, including SUVs (Sport Utility Vehicles), MUVs (Multi Utility Vehicles), and other types of vehicles. You can also get a car loan to acquire a vehicle for business purposes. Truck, tractor, and construction equipment loans are also available from some lenders.

✅ Is a guarantor required for a car loan?

To get a car loan, most lenders will not ask you for a guarantor. But, if your income falls below the required minimum, some lenders may want you to offer a guarantee or co-applicant to demonstrate that you will be able to repay the loan amount.