Car Loan Badgam

I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Buy your dream Car

Rates as low as 7.05%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

Car Loan Badgam

Best Banks for Car Loan in Badgam


car loan

Car Loan Badgam Features

Loan Approval in 30 Minutes
Lowest Rate of Interest
Up to 100% on Road Loan
Minimum Documentation
Paperless Process
Flexible Repayment
Zero Foreclosure
24 x 7 Online Payment Facility
No Hidden Charges

A car loan is what you can avail of to fulfill your dream. A car loan is a secured loan with easy repayment options available for applicants in the form of monthly installments. The loan amount is offered on different Interest rates which vary from one lender to another respectively. You can apply for a car loan for purchasing a new car as well as a used car. So if you are thinking of purchasing your dream car, get an instant Car loan in Badgam with Dialabank at an affordable car loan interest rate.

Car Loan Badgam


car loan

Car Loan Badgam Eligibility Criteria

The car loan eligibility requirements are as follows in Badgam:

Salaried Individual
Age – 21 years to 60 years
Net Monthly Income – Minimum ₹ 20,000
Employment Duration – 1-year minimum
Income Eligibility – Based on Form 16 and salary slip
Self-Employed Individuals
Age – 21-65 years of age
Minimum ITR – Rs.2 lakh
Employment Duration – Minimum 3 years
Income Eligibility – Depends on the latest Income Tax Returns
Self-Employed Non-Individuals (Company/Partnership)
Minimum ITR – Rs. 2 lakh
Employment Duration – 3 years minimum
The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
At least 6-month vintage
Average Quarterly Balance – 2 quarters balance at a minimum of Rs.1 lakh
Maximum Loan Amount – 3 times the Average Quarterly Balance of the last 2 Quarters

car loan

Car Loan Badgam EMI Calculator

Car Loan Badgam Fees & Charges

Charges New Car Loan Used Car Loan
Interest Rate

7.35% per annum

11.80% p.a. to 13.80% p.a.
Car loan Processing fees 0.5% 0.5%
Issuance of Duplicate Repayment Schedule Charges Around Rs.500 Around Rs.500
Foreclosure Charges 0.06 0.06
Penal Interest 2% PM 2% PM
Car loan Part Payment charges 6% of the amount 6% of the amount
Cheque/Instrument Swap Charge Around Rs.500 Around Rs.500
Documentation Charge Around Rs. 500 Around Rs. 500
Issuance of Duplicate No Dues Certificate Charges Around Rs. 500 Around Rs. 500
Registration Certification Collection Charge Around Rs. 200 Around Rs. 200
Cheque Bounce/Instrument Return Charges Around Rs. 500 Around Rs. 500
Issuance of Duplicate Statement Charges Around Rs. 500 Around Rs. 500
Loan Cancellation/Re-booking Charges Around Rs. 1000 Around Rs. 1000
Issuance of Credit Report Around Rs. 50 Around Rs. 50

car loan

Car Loan Badgam Fees and Charges : Leading Banks – May 25 2022

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


car loan

Car Loan Badgam Documents Required

Documents required when taking a car loan are as followed:

Salaried Individual

Category
Documents Required
Identity Proof (Any 1) Passport
Voter ID
Aadhar Card
Driving License
Address Proof (Any 1) Aadhar Card
PAN
Driving License
Electricity Bill
Date of Birth Proof(Any 1)
Passport
Birth Certificate
High School Marksheet
Driving Licence
Signature Proof(Any 1)
PAN
Bankers Verification
Passport
Income Proof
Salary Slip and latest Form No.16
Bank Statement
Last 6 month Bank statement
Employment Continuity Proof
Job card by NREGA
ITR of Form no. 16
Salary Slip mentioned with joining date
Letter of Appointment

 

Self-Employed Individuals

Category
Documents Required
Identity Proof (Any 1) PAN Card
Passport
Voter ID
Aadhar Card
Address Proof (Any 1) PAN Card
Voter ID
Passport
Electricity Bill
Date of Birth Proof (Any 1) Birth Certificate
Passport
Driving Licence
PAN
Signature Proof (Any 1)
PAN
Bankers Verification
Passport
Bank Statement
Bank statement of last 6 months
Employment Continuity Proof
Latest ITRs
Shop & Establishment Act Certificate
Shop & Establishment Act Certificate
Sales Tax or VAT Certificate
Business Proof
Registration Certificate
Telephone Bill/Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate

 

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

Category
Documents Required
Identity Proof (Any 1) Driving Licence
PAN Card
Aadhar Card
Passport
Address Proof (Any 1)
Electricity Bill/Telephone Bill
Aadhar Card
Driving License
Voter ID
Income Proof
Audited Balance Sheet
P&L Account
ITR for the previous 2 years
Bank Statement Last 6 month
Business Continuity Proof
Company ITR of the last 2 years
Audited Balance Sheet
TAX registration Certificate
Current Account Statement
Additional documents
Letter of Authority or PAN Card

 

2. Private Limited/Limited Companies

Category
Documents Required
Identity Proof
The latest copy of MOA and AOA
Copy of Incorporation
Address Proof (Any 1)
SSI/MSME Registration Certificate
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
Sales Tax Certificate
Income Proof
Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Previous 6 Months
Business Continuity Proof
P&L account and
ITR of the Company of the past 2 years
Audited Balance Sheet
Shop & Establishment Act Certificate
Additional documents
List of Shareholding partners and Directors
Board Resolution
PAN Card
Certificate of Commencement of Business for Ltd. Co.

car loan

How to Get the Best Car Loan Interest Rates in Badgam

The Interest rates offered by the various banks and NBFCs in Badgam are fairly reasonable and competitive. Should you try and get a car loan in Badgam you should follow these steps:

  • Choose a shorter repayment term – You should opt for a shorter repayment period, short enough that it won’t affect your daily finances. Since many lenders consider that having a longer repayment period means that the applicant can’t afford to pay the monthly EMIs, which makes them give you a higher interest rate.
  • Research and compare the perks offered by different lenders – Considering that everyone wants the best interest rate available to them, you should research all the different lenders in Badgam to make sure you avail the car loan from the right lender, one which suits your requirements the best.
  • Maintain a modest debt-to-income ratio – You should have a lower debt-to-income ratio, as then you would be offered a lower interest rate.
  • Maintain a good credit score — As long as you have a credit score above 750, the lenders won’t mind giving you a lower interest car loan. The lenders also give loans to people with bad credit, but they give them to them at a high interest rate.

Check your credit scores regularly with Dialabank’s “Free Credit Score” service to make sure you have a good credit score. This will allow you to take measures to enhance your credit score if it is low, and will allow you to approach lenders with confidence if your credit score is good.

How to Apply for a Car Loan in Badgam?

Applying for a car loan in Badgam is easy with Dialabank. Visit our official website and follow the steps:

  • Click on the car loan options available in the menu of the loan on the website.
  • Fill in the required details as required, like name, location, and information related to the car, etc.
  • Accept the privacy policy and wait for our relationship manager to connect.
  • You will be contacted by our car loan Badgam Relationship manager soon to assist you further through the process.

You can also apply for a car loan offline in the city by visiting the nearest branch of banks offering car loans. But that would limit your options. You would also require to make multiple visits to the lender to get your loan approved. Thus, when you think of a car loan Dialabank is your best option available as an agent.


car loan

Which Bank in Badgam Offers the Best Car Loans?

Many big banks and NBFCs, including HDFC, ICICI, and SBI, offer vehicle loans in Badgam. Choose the lender that provides you with your required loan amount at a reasonable interest rate. Make sure they can also disburse the funds quickly. It is advisable if you can check and research all the banks giving car loans to choose what’s best for you.

Car Loan for Major Car Manufacturers in Badgam

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Badgam

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

car loan

CIBIL Score Required for Car Loan in Badgam

Every banking and lending institution has its criteria for the minimum CIBIL score required for processing the Car Loan application in Badgam because they want to avoid the risk of lending money to a risky borrower and for that they need you to have a CIBIL score of 750 or above to process your loan application faster and they can also help you get a cheaper rate of interest on your loan if you ask for it. Please keep a regular check on your CIBIL score and also maintain your CIBIL score by not defaulting on your payments.


car loan

Car Loan Badgam Contact Number

For any queries regarding the car loan in Badgam, you may contact the number 9878981166.


car loan

Pre Calculated EMI Table for Car Loan Badgam

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

car loan

About Badgam

Budgam area is a region of the Indian-directed association domain of Jammu and Kashmir. Made in 1979 with its central station at Budgam, it is the region with the most noteworthy measure of Shias found in the Kashmir valley.

District Budgam offers many shocking areas and has colossal travel industry potential that has generally stayed undiscovered up until this point.


car loan

Car Loan Banks In Badgam

Bank Name Bank Address IFSC Code
HDFC BANK HDFC BANK LTD., MAIN BUS STOP, MAGAM, NEAR PASTA RESTAURANT, BUDGAM JAMMU AND KASHMIR 193401 HDFC0002901
STATE BANK OF INDIA HYDERIYA SHOPPING COMPLEX, GULMARG ROAD, MAGAM, DISTT. BUDGAM. JAMMU AND KASHMIR 193401 SBIN0015981

FAQ’s About Badgam Car Loan

✅ What are my options for repaying my auto loan?

You may pay back the loan using Standing Instruction (SI), Electronic Clearing Service (ECS), and Post-Dated Cheques are three options for repaying your loan (PDCs). It is normally advised that you repay your loan using the first two options because they are faster and have a lower risk of error, which is not the case with PDCs.

Do I need a guarantor when applying for a car loan?

A guarantor is required only when your income falls below the bare required minimum.

Where can I get an EMI interest car loan calculator?

You can use the EMI calculator on the official Dialabank website or the one from your lending bank. To calculate the EMIs, enter various possible interest rates that can be offered to you. You can obtain the interest rate when you fill out an application for a loan, which will require you to provide basic information such as your salary, company, and work experience, depending on which possible interest rates will be presented.

What are the types of vehicles I can purchase with a car loan?

Car Loans can be used to buy all types of cars, it doesn’t discriminate with the type of four-wheeler you wish to buy.

Is it possible for me to acquire a loan on my current vehicle?

Yes, if you have a credit history with your current lender, many lenders will grant you a loan on your current vehicle.