Car Loan Alappuzha

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Car Loan Alappuzha

Best Banks for Car Loan in Alappuzha

Private Bank
Kotak Mahindra Bank
Interest Rate
8% - 8.4 %
8.5 - 9.5 %
Min Loan Amt
Metro : 1 Lac & Non Metro: 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
Loan to Value (LTV)
Upto 100% on Ex- showroom
Upto 95% on Ex- showroom
Upto 90% on Ex- showroom

Car Loan Alappuzha Features

A car loan is a financial help provided by banks and NBFC’s to fulfill your dream of having your car. Necessary funding for purchasing a car which can be on Ex-Showroom Price or On-Road Price of the car is easily provided by them. With easy repayment options, Car Loan is a secured loan. The amount of loan is offered from bank to bank where the Interest charges may vary. One can pay for the vehicle in easy installments.

Car Loan Alappuzha Interest Rate

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

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Car Loan Alappuzha Documents Required

Documents required for car loan are as followed:

For Salaried Individuals:

  1. Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License of the applicant
  2. Income ProofFor Salaried– Latest 3-month salary slip with form 16 of the applicant
  3.  For Self Employed- Latest Income Tax Report of the applicant
  4. Address Proof: Ration card/Driving license/Voters card/Passport Copy/Telephone Bill/Electricity Bill/Life Insurance Policy/PAN Card of the applicant
  5. Bank Statement: Applicant’s last 6 months bank statement is required.

For Self Employed Individuals:

  1. Identification Proof: Passport copy, PAN Card, Voters ID card, Driving License
  2. Income Proof: Latest ITR
  3. Address Proof(anyone): Ration card/ Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Bank Statement: Last 6 months.

Car Loan Alappuzha Eligibility Criteria

The car loan eligibility requirements are as followed in Alappuzha:

    For Salaried Applicants

  1. Minimum age: 21 years old
  2. Maximum age at loan maturity: 65 years old
  3. Minimum employment: For Salaried- minimum of 2 years of employment experience and 1 year in current employment. 
  4. For Self Employed– at least 3 years in business
  5. Minimum Annual Income: Rs 100000 net annual income is minimum requirement for salaried person.
  6. For Self- Employed Net profit Rs.100000 per annum for mid-sized and premium cars Rs. 60000 p.a for standard cars.

    For Self-Employed Applicants

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: At least 3 years in business
  4. Minimum Annual Income: Net profit Rs. 60000 per annum for standard cars and Rs.100000 per annum for mid-sized and premium cars

Car Loan for Major Car Manufacturers in Alappuzha

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Processing Fees & Prepayment Charges on Car Loan Alappuzha

Category Details
Processing Charges
1999 - 4999 + Tax
No prepayment is allowed until 12 EMIs are paid
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 Alappuzha

For processing the Car Loan application in Satara, every lending institution has its criteria for the minimum CIBIL score required so that they can minimize the risk of lending to you. Most institutions require a minimum score of CIBIL of 750 or above to process your loan application. Also having a good CIBIL score helps to loans at a cheaper rate of interest.

CIBIL score when higher helps to get a low level of interest rate on car loans.

The institutions don’t just look at the overall score but also the detailed behavior on the previous loans taken. This includes details on the type of loan taken and the amount borrowed. Any delayed EMI payments for previous loans can become an obstacle to your availing a fresh loan.

Car Loan Alappuzha Contact Number

By contacting the number 9878981166, you can get a car loan Alappuzha easily from dialabank.

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Pre Calculated EMI Table for Car Loan Satara

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 Alappuzha

Car Loan Alappuzha

Also known by its former name Alleppey, Alappuzha is in the Indian State of Kerala the administrative headquarters of Alappuzha District. Alappuzha ranks third among the districts in literacy rate in the State of Kerala is a city and a municipality in Kerala with an urban population of 174,164. In 2016, Alappuzha was the cleanest town in India, was rated by the Centre for Science and Environment. The lighthouse built on the coast of the city is the first of its kind along the Laccadive Sea coast, Alappuzha is considered to be the oldest planned city in this region as well.

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Car Loan EMI Calculator

By Car loan EMI Calculator provided by Dialabank, Car loan EMI can be calculated. One can use it an infinite number of times as it is free to use. Equated Monthly Installments(EMI) is the monthly fixed charges that you pay to the bank as monthly repayment for the loan amount borrowed. Based on the profile, the interest rate on the loan is determined. EMI is calculated based on the Interest Rate you are charged by the bank and the amount of loan you have to take and the period for which you enjoy the car loan.

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