Car Loan Addanki

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Car Loan Addanki

Best Banks for Car Loan in Addanki


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Car Loan Addanki 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

Car Loan Addanki

Need to upgrade? Need to gift your loved one a car? Don’t want your budget to be affected by it? Worry no more, Dialabank here will look after all of your needs. With Dialabank, you can get the loan in a few minutes with minimum documents and attractive interest rates. Our relationship managers will help you through every step of the process, along with all the documentation which would be required.

Car Loan Addanki


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Car Loan Addanki Eligibility Criteria

The car loan eligibility requirements are as follows in Addanki:

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 Addanki EMI Calculator

Car Loan Addanki 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 Addanki Fees and Charges : Leading Banks – May 28 2022

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


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Car Loan Addanki 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 Addanki

A lot of lenders offer car loans at varying interest rates in Addanki, but all of them are comparatively reasonable. Follow the steps stated below to get get the lowest car loan interest rates in Addanki.

  • Choose a shorter repayment term – Car loan applicants often believe that lengthier repayment tenures are better because the monthly EMI’s on them is low. Lenders view long repayment tenures as an indication of a borrower’s low repayment capabilities, so they charge a higher interest rate on longer loans when compared to short-termed loans. Consider a shorter payments period if you want to save some money on your car loan.
  • Research and compare the perks offered by different lenders –  Borrowers must first explore and compare the benefits offered by different lenders before applying for a car loan. This can help them figure out which lenders have the best interest rates and which plan suits them the best.
  • Maintain a low debt-to-income ratio – If a major part of your income isn’t going towards paying off an existing loan, your chances of bagging a new loan increase.
  • Maintain a good credit score — Lenders will be pleased to offer you a car loan with cheaper interest rates if you have a credit score of 750 or above, as it shows you have done timely repayments of your previous loans.

How to Apply for a Car Loan in Addanki?

  • Visit the Dialabank website.
  • Click on the loan section and select the car loan option.
  • Fill up all the required columns with your personal information.
  • In a few minutes, you will receive a call from our experts.
  • Then, you can start the loan process.

Which Bank in Addanki Offers the Best Car Loans?

A number of big banks and NBFCs, including HDFC, ICICI, and SBI, offer vehicle loans in Addanki. A smart borrower should always compare vehicle loans from all these lenders before applying for the one that meets all of his specific needs.

Car Loan for Major Car Manufacturers in Addanki

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Addanki

The processing Fees and Prepayment charges on an auto loan are: –

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 Addanki

CIBIL score always plays a key role in getting a loan. A Good CIBIL score always ranges from 700-900. If the applicant’s CIBIL score is more than 750+ then, the applicant will get loan approvals quickly. If the CIBIL score is below 700 then, the loan might come with a higher interest rate.


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Car Loan Addanki Contact Number

To get instant help and any more queries, you can call 9878981166.


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Pre Calculated EMI Table for Car Loan Addanki

check here of Pre calculated EMI table for a car loan.

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 Addanki

Addanki is a city in the Indian state of Andhra Pradesh. It comes under the district of Prakasam. With Dialabank providing its services to all parts of the country, it is now feasible to have access to car loans in Addanki.


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Car Loan Banks in Addanki

Bank Name Bank Address IFSC code
ANDHRA BANK DOOR NO. 177-8, MAIN ROADADDANKI, PRAKASAM DIST ANDB0000027
THE ANDHRA PRADESH STATE COOPERATIVE BANK LIMITED THE PDCCBANK LTD., MAIN ROAD, ADDANKI, AP, PIN – 523201 APBL0008002
ANDHRA PRAGATHI GRAMEENA BANK ADDANKI -523201 ADDANKI MANDAL PRAKASAM DISTRICT APGB0005169
BANK OF BARODA DNO 34 21 ONGOLE ROAD NAMS HIGHWAY ADDANKI PRAKASAM DISTRICT ADDANKI AP 523201 BARB0ADDANK
BANK OF INDIA CHINNI COMPLEX, NEAR PANCHAYAT OFFICE, BUNGALOW ROAD, ADDANKI, DIST-PRAKASAM BKID0005611
CENTRAL BANK OF INDIA D NO 30-171 ADDANKI CBIN0284496
CANARA BANK CANARA BANK NO 32 264 1 NR DR RANGARAO HOSPITAL OPP INDIAN BANK ADDANKI ADDANKI PRAKASAM DISTRICT ANDHRA PRADESH 523201 CNRB0006612
HDFC BANK HDFC BANK LTD,D.NO.30-171,GRND FLR, BUNGALOW ROAD, NEAR AMBEDKAR STATUE, ADDANKI PRAKASHAM ANDHRA PRADESH 523201 HDFC0003297
INDIAN BANK 34-68, SRINAGAR FIRST LINEADDANKI PRAKASHAM ANDHRA PRADESH – 523201 IDIB000A161
LAXMI VILAS BANK NO 30 – 122 AND 123 BUNGALOW ROAD ADDANKI ANDHRAPRADESH LAVB0000912
STATE BANK OF INDIA DISTPRAKASAM ANDHRA PRADESH 523201 SBIN0003744
AXIS BANK S NO 1096E1A DOOR NO 291 MUNICIPALITY ROAD ADDANKI PRAKASAM DIST AP 523201 UTIB0002807

FAQ’s About Addanki 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 loan tenures from a year to 7 years, depending on the loan amount and the client’s repayment capacities.

✅ Is a guarantor obligatory for a car loan?

A guarantor is required just on the off chance that you can’t meet at least one of the qualification measures indicated by the Bank or NBFC.