Car Loan Amritsar

Best Banks for Car Loan in Amritsar

Feature
HDFC Bank
ICICI Bank
Kotak Mahindra Bank
Interest Rate (p.a.)
7.35 - 7.95%
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 Amritsar Features

Car Loan Amritsar

 With lower interest rates and repayment tenure of up to 7 years, you can find the most suitable Car loan for your needs with the help of dial-a-bank. Save your valuable time. There is no need for frequent visits to any bank. We will assist you in getting the Best Loan to buy your dream car. You can take the loan amount for 80 percent of the Ex-showroom or on-road price of the car.

To avail of the best car loans in Amritsar, visit us at Dialabank.

What is a Car Loan?

A Car Loan is a financial help provided by banks and NBFC’s to fulfill your dream of having your own car. They give important funding for buying a car which can be on Ex-Showroom Estimate or On-Road Price of the car. A car loan is a secured loan with easy repayment options. The loan amount is offered on Interest charges which vary from bank to bank. One can pay for the vehicle in easy installments.

Car Loan Amritsar 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
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 Amritsar Documents Required

Documents required for car loan are as followed:

For Salaried:-

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

For Self Employed:-

  • Identity Proof: PAN Card, Passport copy, Voters ID card, Driving License
  • Income Proof: Latest ITR
  • Address Proof: Driving license / Passport Copy / Ration card / Voters card / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  • Bank Statement: Last 6 months.

Car Loan Amritsar Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried:-

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: 1 year in current employment and a minimum of 2 years of employment
  4. Minimum Annual Income: Rs 1,00,000 net annual income

For Self-Employed:-

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: at smallest 3 years in the trade
  4. Minimum Annual Income: Net profit Rs. 60,000 p.a for normal cars and Rs.1,00,000 p.a. for mid-sized and superior cars

How to Apply for Car Loan in Amritsar?

  1. Car Loan AmritsarVisit us at Dialabank.
  2. Go to the loan section and press on the auto loan section.
  3. Fill out the application with details and present the information.
  4. We will contact you in a short period of time.
  5. For further information please contact 9878981166.

Apply for a Car Loan Now

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Car Loan for Major Car Manufacturers in Amritsar

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Amritsar

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 Amritsar

You can check your CIBIL report to verify your credit score. The general range of score is from 300 to 900 but a score of 750 or more can get you a low Car Loan Interest Rate. However, the interest rate for a score of 650 to 750 which may provide a high-interest rate. If you have defaulted in your CIBIL report, or have a very low score, your application may be rejected.

The CIBIL score is based on your salary history over investments and credit cards. Keep your CIBIL score in order to conserve more money.

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Car Loan Amritsar Contact Number

Consumers can reach us at 9878981166 to get particular car loan deals right from your home or can practice on our website Dialabank.

Pre Calculated EMI Table for Car Loan Amritsar

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 Amritsar

Amritsar, city, northern Punjab state, north-western India. Amritsar is the biggest and most famous city in Punjab and is a major advertisement, cultural, and transportation hub. It is also the center of Sikhism and the site of the Sikhs’ principal place of worship—the Harmandir Sahib, or Golden Temple.

Amritsar is a center for the textile and chemical industries and also engages in food milling and processing, silk weaving, tanning, canning, and the manufacture of machinery. The city lies on the main highway from Delhi to Lahore, Pakistan, and is a major rail hub. An airport is nearby. Amritsar is home to Guru Nanak Dev University, the leading educational center of the Sikhs

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

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Car Loan EMI Calculator Amritsar

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