Car Loan Badhnikalan

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 Badhnikalan

Best Banks for Car Loan Badhnikalan


car loan

Car Loan Badhnikalan 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

Want to buy a car? But don’t have enough money? Don’t worry. We at Dialabank help customers to compare, analyze and choose the best loan possible.

A car loan is a financial help provided by the banks and the NBFC’s to fulfill your dream of having your own car. They provide the borrower with the necessary funding for purchasing a car which can be on Ex-Showroom Price or On-Road Price of the car. A car loan is a secured loan with many easy repayment options. The loan amount is offered based on Interest charges which may vary from bank to bank. One pays for the vehicle in easy installments.

Car Loan Badhnikalan


car loan

Car Loan Badhnikalan Eligibility Criteria

The car loan eligibility requirements are as follows in Badhnikalan:

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 Badhnikalan EMI Calculator

Car Loan Badhnikalan 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 Badhnikalan Fees and Charges: Leading Banks – May 29 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 Badhnikalan Documents Required

Documents you need to have for a car loan are as follows:

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 Badnikalan

Though the interest rates may vary from bank to bank and lender to lender, all offered interest rates are reasonable and competitive. If you wish to get a lower interest rate on your car loan Badhnikalan, you should follow these steps:

  • Choose a shorter repayment term – Choose a shorter tenure for your repayment period, just enough so that you don’t feel the financial burden when paying the EMI. The longer tenure means that you don’t have to pay a big amount as your monthly EMI, but it also gives the lender an impression that you don’t have the resources to pay the EMIs on time. If you choose to go for the shorter term, the lender might offer a lower interest rate.
  • Research and compare the perks offered by different lenders – Compare and analyze all your lender options before you settle for one. Choose the option that suits your requirements the best.
  • Maintain a modest debt-to-income ratio –Maintain a low debt-to-income ratio, as that encourages the lender to give you a lower interest rate.
  • Maintain a good credit score — Lenders will be pleased to offer you a car loan with a cheaper interest rate if you have a good credit score. Lenders consider a credit score of 750 and above to be healthy. Many lenders may give out auto loans to people with bad credit, but in return, they will demand a higher interest rate. Check your credit scores regularly with the official Dialabank “Free Credit Score” service to make sure you have a good credit score. This will allow you to take necessary measures to enhance your credit score if it is low, and it will allow you to approach lenders with confidence if your credit score is good.

How to Apply for a Car Loan in Badhnikalan?

  • Apply online on Dialabank.
  • Go to the car loan section under the loan section.
  • The applicant will be asked to fill in all the requested details for the car loans and also where they want their loan from, according to their needs.
  • If you have any doubts regarding car loans or for more information on car loans and free guidance, you may call on 9878981166.

car loan

Which Bank in Badhnikalan Offers the Best Car Loans?

Many big banks and NBFCs, including HDFC, ICICI, and SBI, offer vehicle loans in Badhnikalan. The ideal lender is the one that would provide you with the best interest rate, one that suits your requirements the best. One that would have a feature of quick disbursement of funds. Make sure you choose and analyze all the lenders to choose the best one for you.

Car Loan for Major Car Manufacturers in Badhnikalan

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Badhnikalan

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 Badhnikalan

Every financial institution has its criteria for CIBIL score required for processing the Car Loan application in Badhnikalan so that they can minimize the risk of lending to the customer. Most institutions will want you to have a minimum CIBIL score of 750 or above to process your loan application. Also having a good CIBIL score helps you get these loans at a cheaper rate of interest.

The institutions don’t just look at the overall score but also the history of credit on the previous loans taken. This might include details on the type of loan taken and the amount borrowed. Any delayed payments from previous loans can act as a barrier to your availing of a fresh loan.

Car Loan Badhnikalan Contact Number

In case of any queries regarding the car loan Badhnikalan, you may contact on the number 9878981166 for any assistance.


car loan

Pre Calculated EMI Table for Car Loan Badhnikalan

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 Badhnikalan

Badhni Kalan is a town and also a Nagar panchayat in Moga district in Punjab, India. Kalan is a word from the Persian language, that means Big.

As of the 2001 India census, Badhni Kalan had a population of 6373.

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

FAQ’s About Badhnikalan Car Loan

✅ 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.

✅ What are my options for repaying my auto loan?

Standing Instruction (SI), Electronic Clearing Service (ECS), and Post-Dated Cheques are three options for repaying your loan (PDCs). It is usually advised that you return your loan using the first two options because they are speedier 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.