Car Loan Adalaj

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Car Loan Adalaj

Best Banks for Car Loan in Adalaj

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 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


car loan

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


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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


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Car Loan Adalaj Fees and Charges : Leading Banks – Nov 28 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 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.


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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.


car loan

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
>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


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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.


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Car Loan Adalaj Contact Number

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


car loan

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


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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

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.

✅ Where can I get an interest calculator for my car loan?

You can use the EMI calculator on Dialabank’s website or the website of your bank.