Car Loan Adhewada

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Car Loan Adhewada

Best Banks for Car Loan in Adhewada


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Car Loan Adhewada 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 Adhewada

All of us have a dream of having a car for ourselves. But, the cost deters us from buying the car of our dreams. A car loan is a saviour for people looking to fulfil their dream of having a car. It is an instant loan option with instant finances and a hassle-free process. 

Car Loan Adhewada


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Car Loan Adhewada Eligibility Criteria

The car loan eligibility requirements are as follows in Adhewada:

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 Adhewada EMI Calculator

Car Loan Ahewada 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 Adhewada Fees and Charges : Leading Banks – Nov 27 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


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Car Loan Adhewada 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 Adhewada

A number of lenders offer car loans in Adhewada at varying interest rates, but all of them are reasonable and competitive. If you want to get a car loan in Adhewada with a comparatively lower interest rate, follow the steps below: –

  • Choose a shorter repayment term – Many loan seekers often believe that long repayment terms will help them pay off a large loan in small instalments, and aren’t aware of the fact that lenders view lengthier payback terms as an indication of a borrower’s low repayment capabilities, and charge higher interest rates. So, if you want to save money on your car loan, consider a shorter payments period.
  • Research and compare the perks offered by different lenders – To get a decent deal on a car loan, you must first explore and compare the benefits offered by different lenders. This will help you figure out which lenders have the best interest rates and, as a result, which lender to choose for your loan.
  • Maintain a modest debt-to-income ratio – The debt-to-income ratio measures how much of the borrowers income goes toward a loan’s repayment; lenders often take this into account when setting interest rates. If your debt-to-income ratio is low, you have a better chance of getting a car loan with a lower interest rate.
  • Maintain a good credit score — Lenders would offer you a car loan with cheaper interest rates if you have a good credit score. A credit score of 750 or above looks healthy to the lenders.

How to Apply for a Car Loan in Adhewada?

Getting a car loan in Adhewada is an easy process with Dialabank. Follow the following steps to avail of the best offers:

  • Visit the Dialabank website.
  • Click on the car loan option on the website.
  • Fill in the required fields on the form.
  • Our relationship managers will soon 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 quite a hectic process for you.


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Which Bank in Adhewada Offers the Best Car Loans?

Large lenders including HDFC, ICICI, and SBI offer vehicle loans in Adhewada. A good lender is one that can provide you with the loan amount you need at the lowest possible interest rate and can disburse the funds as fast as possible. A borrower should always compare vehicle loans from a number of lenders before applying for the one that meets all of his needs, such as interest rates.

Car Loan for Major Car Manufacturers in Adhewada

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Adhewada

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 Adhewada

The CIBIL score defines your ability to pay off your loans. A high Credit score makes your car loan application process smooth and easy to process. Most reputed lenders consider a credit score of 750 and above as a good score to approve your loan application process in Adhewada.


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Car Loan Adhewada Contact Number

In case of any queries regarding the car loan in Adhewada, you may contact on the number 9878981166 for any assistance.


car loan

Pre Calculated EMI Table for Car Loan Adhewada

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 Adhewada

Adhewada is a village in the Bhavnagar district in Gujrat and is around 3 kilometres away from Bhavnagar itself.


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FAQ’s About Adhewada Car Loan

✅ What types of vehicles 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. However, If your income falls below the required minimum, lenders might want you to offer a guarantee or co-applicant to demonstrate that you will be able to repay the loan.

✅ Where can I get an Interest Calculator for a Car Loan?

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