Car Loan Ambala

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Car Loan Ambala

Best Banks for Car Loan in Ambala

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 Ambala Features

car loan ambala

Getting one’s own car is everyone’s dream. A car loan is something that helps you achieve that dream with convenience. Car loans are provided by banks and NBFC’s for both ex-showroom and on-road prices and for both brand new and second-hand cars. You can easily get car loans in Ambala tailor-made for you, by choosing the tenure of the loan yourself! The Car Loan Interest Rate vary from bank to bank, so it’s important to compare and chose what’s best for you.

Visit Dialabank and get yours now.

Car Loan Ambala Interest Rate

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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
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 Ambala Documents Required

Documents required for car loan are as followed:

For salaried employees

Identity proofs can include any of the given the applicant’s passport copy, PAN card, voters ID card, and driving license

Income proof which requires the latest 3-month salary slip with form 16

Address proof which the applicant can choose Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card

Bank statements from the last 6 months.

For Self-employed

Identity proofs can be any of the given: passport copy, PAN card, voters ID card, and driving license

Income proof which requires the latest ITR

Address proof which you can choose among Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card

Bank statements from the last 6 months are mandatory to submit.

Car Loan Ambala Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Employee

The Minimum age required for sanctioning a loan is 21 years while the Maximum age at loan maturity is 65 years

The minimum employment period should be 1 year in current employment and also a minimum of 2 years of total employment

The Minimum Annual Income for a salaried-employee is Rs 100000 net annual income

For Self- Employed

  1. An applicant should belong to an age group between 21 to 65 years of age
  2. A Self-employed individual must have their business running from at least the last three years.
  3. Minimum Annual Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for best mid-sized and premium cars

Car Loan for Major Manufacturers in Ambala

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Processing Fees & Prepayment Charges on Car Loan Ambala

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 Ambala

A CIBIL score is a score that measures your credibility and your repayment history. While a score of 650 is considered as ‘fair’, it comes close to a ‘poor’ rating. It is advisable to have a score of 750 and above to get your car loan sanctioned without any trouble!

Car Loan Ambala Contact Number

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Dial-up at 9878981166 or visit Dialabank to get more information about car loans in Ambala and get the best advice from us!

Pre Calculated EMI Table for Car Loan Ambala

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 Ambala

Ambala is a city in Haryana which is located close to the capital city Chandigarh. Ambala is widely famous for its textile, and the markets are bustling during the marriage season. The most demanded items are sarees and silk clothing. Its population lies around 2 lakhs.

Special Note: Banks do not provide Car Loans to bad credit holders, but one can fulfill their money requirement with Gold Loan easily.

Car Loan EMI Calculator

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