Car Loan Akcha

Best Banks for Car Loan in Akcha

Car Loan Akcha 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

Are you fed up with driving that old rusty scooter? Do you want to surprise your family with a new car? Don’t worry! Dialabank is here to help you get a loan easily for both brand-new and second-hand cars. Our experts will guide you throughout the application process and help you decide which plan is the best for you, for free!

Car Loan Akcha

Car Loan Akcha Eligibility Criteria

The car loan eligibility requirements are as follows in Akcha:

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 Akcha EMI Calculator

Car Loan Akcha 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 Akcha Fees and Charges : Leading Banks – Apr 24 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 Akcha Documents Required

The essential documents required to get a car loan approved in Akcha 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 Akcha

Because the monthly EMI (equivalent monthly installment) is cheap, many vehicle loan applicants assume that longer repayment terms are better. They don’t appear to realize that longer payback terms are seen by lenders as a sign of a borrower’s poor repayment ability, therefore they charge higher interest rates. Consider a shorter payment time if you want to save money on your car loan.
If you want to receive a good bargain on your car loan, you should first look into and evaluate the different banks and their plans. This can assist you in determining which lenders offer the lowest interest rates and, as a result, which lender to select.
The debt-to-income ratio calculates how much of an applicant’s income goes toward loan repayment, and it’s used by lenders to determine interest rates. You have a higher chance of securing a car loan with a lower interest rate if your debt-to-income ratio is lower.
If you have an excellent credit score, lenders will be happy to provide you with a car loan with lower interest rates. A credit score of 750 or more is considered healthy by many lenders.

How to Apply for a Car Loan in Akcha?

Availing of a car loan Akcha is an easy process with Dialabank. All you have to do is follow some steps to avail the best offers:

Visit Dialabank’s official website.
Click on the car loan option available on our webpage.
Fill in the required fields with information regarding your loan requirements.
Our experts will soon get in touch with you on the number you provided

Which Bank in Akcha Offers the Best Car Loans?

Vehicle loans are available from a number of large banks and NBFCs in Akcha including HDFC, Private, and SBI. The best lender will be able to give you the loan you require at low interest rates and will be able to release the funds as fast as possible. Before applying for a vehicle loan that fits all of your criteria, such as interest rates, it is usually a good idea to compare vehicle loans from a variety of lenders.

Car Loan for Major Car Manufacturers in Akcha

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Akcha

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 Akcha

The CIBIL score is what plays the most important role in your car loan approval. A good credit score means good credit history and shows that you are a trustworthy borrower, in which case your car loan application process becomes smooth and easy and charges you a lower interest rate.

If you have never applied for a loan before, it doesn’t mean that your credit score is 0, but it might be low. To improve your credit score, you can take to various methods such as taking short-term loans and repaying them on time, or applying for a credit card. We also advise you to keep a regular check on your score. Most banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Akcha.

Car Loan Akcha Contact Number

In case of any queries regarding the car loan in Akcha, you may dial up the number 9878981166 for any sort of assistance!

Pre Calculated EMI Table for Car Loan Akcha

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