All About Car Loan Apra
Need to upgrade? Nedd to gift your loved one a car? Don’t want your budget to be affected by it? Worry no more, Dialabank here will look after all of your needs. Our relationship managers will help you through every step of the process along with all the documentation which would be required.
What is a Car Loan?
A car loan is a financial help offered by different banks and NBFC’s to buy a car. The banks provide the necessary funding for purchasing a vehicle which can be on Ex-Showroom price or the On-Road price of the car. They offered the lowest interest rates and minimum document process.
Interest Rates for Car Loan Apra
- If the requirement of the applicant is less than Rs. Three lacs then the interest rate charged would be 10.25% per annum.
- Simultaneously, if the loan amount is between Rs.3 lacs to Rs.6 lacs, then the interest rate charged would be 9.50% per annum.
- For loan amount between Rs.6 lacs to Rs.10 lacs, a 9.25% interest rate would be charged, per annum.
- If the loan amount varies from Rs.10-20 lacs, then the interest rate charged would be 9.00% per annum.
- For loan amount being more than Rs. 20 lacs the interest rate would be 8.70% per annum.
The interest rate charged for used cars has been fixed at 14.00% per annum.
Eligibility Criteria for Car Loan Apra
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum employment: 1 year in current work and a minimum of 2 years of work.
- Minimum Annual Income: Rs 2,50,000 net annual income.
- Minimum age: 30 years
- Maximum age at loan maturity: 60 years
- Minimum employment: At least two years in business
- Minimum Annual Income: The ITR should show an income of Rs.2,40,000 per annum.
Why should one choose Car Loan Apra?
- Easy monthly repayment options
- Instantly available
- Loan Tenure period varies from 1-7 years.
- Affordable interest Rates
- Easily and quickly available loan
- No hidden charges.
Documents you will need to submit for Car Loan Apra
- Proof of Identity: Passport copy, PAN Card, Voters ID card, Driving License, Aadhar Card
- Income Proof: For Salaried Latest salary slip with form 16 / For Self- Employed Latest ITR
- Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy / PAN Card / Aadhar Card
- Bank Statement: Bank statements for the last six months are also required.
- Car quotation is also required.
Fee and Other Charges for Car Loan Apra
- Stamp duty charged is at actuals.
- Processing fee charged depends upon two categories. For up to the amount of Rs.2.5lacs, the processing fee is Rs.2825/-. For amount more than Rs.2.5lacs, the processing fee is Rs.3850/-. The maximum amount which can be charged for processing fee is Rs.5000/-. However, Dialabank provides the processing fee at an attractive price of Rs.1785/- only.
- Loan cancellation or rebooking charges: In the event of cancellation, interest charges from disbursement date till refund of disbursement amount will be borne by the customer.
- Legal, Repossession and Incidental Charges: At Actuals
- 5)Loan rescheduling charges: At Rs.1000/-
Eligibility for different individuals for Car Loan Apra
If the salary of the individual is more than Rs. 25,000, then the loan, is given on a 100% ex-showroom price.
2) Government Employees:
If the government employee has his own house and has a good CIBIL Cibil score than the loan is given on 100 % on road price.
3) Internal Customer:
1oo% on road loan is given if the customer is from HDFC, Kotak, Yes Bank or Axis bank.
Additional information about Car Loan Apra
- The CIBIL of the applicant needs to be more than 700.
- The loan is given for a period of 60 months to 84 months.
- The minimum amount of credit that can be claimed by the applicant is Rs. 1 lakh.
- Also, the top-up amount is twice the paid loan amount.
- Car Loan is not given to constables.
- The persons having CIBIL 0, 1, -1 are also considered right customers.
- If the installment gets bounced, then the amount charged by the bank will be doubled for the respective month.
Car Loan Apra for the agriculturist
– If the amount is Rs.10 lacs, then the farmer should have a land of about 3-5 acres, and he will get a loan to 65-75% of the total loan amount.
– If the loan amount is more than rs. 10 lacs, then the farmer should own at least 20 acres of land. He will get the percentage of the loan amount depending upon his income and ITR.
It is a village in Punjab. With dialabank providing their services to all parts of the country, it is now feasible to have access to car loans.
Why should you choose DialaBank for a car loan?
- Dialabank offers you a car with the lowest interest rates and with minimum documentation schemes.
- Dialabank is an Indian first Financial Helpline where the company provides eligibility and price comparison for financial products.
- Car Loan is a convenient scheme that allows a person to bring home a vehicle.
- We offer car loans up to 100% ex-showroom price of the car, and up to 7 years tenure.
- Apply now on our official website dialabank for instant approval and faster processing of your car loan.
How to apply for Car Loan Apra?
- Visit dialabank
- Go to the loan section and select auto loan followed by car loan link.
- The applicant will be directed to all the details of the car loan where they can choose their preferred city.
Car Loan Providers
Table of Contents
- 1 All About Car Loan Apra
- 2 What is a Car Loan?
- 2.1 Interest Rates for Car Loan Apra
- 2.2 Eligibility Criteria for Car Loan Apra
- 2.3 Why should one choose Car Loan Apra?
- 2.4 Documents you will need to submit for Car Loan Apra
- 2.5 Fee and Other Charges for Car Loan Apra
- 2.6 Eligibility for different individuals for Car Loan Apra
- 2.7 Additional information about Car Loan Apra
- 2.8 Car Loan Apra for the agriculturist
- 2.9 About Apra
- 2.10 Why should you choose DialaBank for a car loan?
- 2.11 How to apply for Car Loan Apra?
- 2.12 Car Loan Providers