Car Loan Akola

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Car Loan Akola

Best Banks for Car Loan in Akola

Feature
HDFC Bank
ICICI Bank
Kotak Mahindra Bank
Interest Rate
8% - 8.4 %
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 Akola FeaturesCar Loan Akola

We are the most reliable Car loan providers in the city of Akola, Maharashtra. We give car loans up to 100% finance on the Ex-showroom Price as well as the On-Road price of the car. We have tie-ups with top finance companies and Banks of the country. We provide loans to Salaried and self-employed people.

You can Avail Car Loan Online at a lucrative rate of interest on new or used cars as we render assistance for both. 

What is a Loan against the car?

Car Loan Akola aims to provide loans against the car by pledging your vehicle for funds or other purposes than purchasing a car. It is a faster way to get a loan by keeping your car as collateral with a bank or financial institution.

To have the best car loans in Akola Apply Here.

Car Loan Akola Interest Rates

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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
1%
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 Akola Documencts Required

Documents required for car loan are as followed:

For Salaried Individuals:

  1. Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License, or other recognized documents.
  2. Income Proof: Latest 3-month salary slip with form 16 is needed.
  3. Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Bank Statement: Last 6 months.

For Self Employed Individuals:

  1. Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License, or other recognized documents
  2. Income ProofFor Salaried– Latest 3-month salary slip with form 16 /
  3. Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Bank Statement: Last 6 months.
  5. Latest Income Tax Return

Car Loan Akola Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Individuals:

  1. The minimum required age is 21 years while the maximum age on loan maturity is 65 years.
  2. The minimum employment duration is 1 year in current employment and a minimum of 2 years of total employment.
  3. A net annual income of Rs 100000 is required as the minimum annual income

For Self-employed Individuals:

  1. The minimum expected age is 21 years while the maximum age at loan maturity is 65 years.
  2. The minimum term claimed is at least 3 years in business.
  3. For self-employed individuals, the net profit is Rs. 60000 per annum for standard cars and Rs.100000 per annum for mid-sized and premium cars

How to Apply for Car Loan in Akola?

Apply for a Car Loan
  1. For Car Loan Akola visit Dialabank.
  2. Fill out the form on the Car Loan page.
  3. Submit it.
  4. Once you’re through, Car Loan Akola agents will connect with you.

Car Loan for major car manufacturers in Akola

TABLE WILL APPEAR

Processing Fees/Prepayment Charges on Car Loan in Akola

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

CIBIL Score Required for Car Loan in Akola

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The minimum CIBIL Score expected to avail of ar loan is 750. Most financial institutions demand a score of 750 and higher to process a loan as it assures them of regular repayment of loans granted by them. An extremely low score or default in the credit report can move to rejection of your loan application.

The organizations don’t just look at the overall score but also the specific behavior on the previous loans taken. This includes details on the type of loan taken and the amount pledged. Any delayed payments for past loans can act as a barrier to availing a fresh loan

Car Loan Akola Contact Number

Contact us on 9878981166 to avail of interesting offers and exclusive rates of interest on car loans.

Pre Calculated EMI Table for Car Loan Akola

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 Akola

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In the renowned state of Maharashtra, Akola is a city in the Vidarbha region and is the third-largest city in the Vidarbha region. The city is famously known for its Vardahi language. Akola has a clock tower in the center of the city which is known as Akola Tower. Besides, it is famous for a few places like the Narnala wildlife sanctuary, Akola fort, and Raj Rajeshwar Mandir.

Special Note: Banks do not provide Car Loans to inadequate credit holders, but one can fulfill their money requirement through Gold Loan efficiently.

Car Loan EMI Calculator Akola

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