Best Banks for Car Loan in Bagru
Car Loan Bagru 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 personal vehicle, which used to be a luxury, had become a necessity today. However, most people aren’t able to pursue this necessity mainly because they can’t handle the financial burden, or because applying for a car loan is too complicated for their liking. Dialabank helps you exactly with these problems.
In Bagru, you can get access to a wide range of appealing features when it comes to a car loan, from a flexible tenure extending up to a period of 7 years or even more, to affordable interest rates and EMIs.
Car Loan Bagru Eligibility Criteria
The car loan eligibility requirements are as followed in Bagru:
| 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 Bagru EMI Calculator
Car Loan Bagru 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 Bagru Fees and Charges : Leading Banks – Mar 21 2023
| 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 Bagru Documents Required
The essential documents required to get a car loan approved in Bagru 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. |
How to Get the Best Car Loan Interest Rates in Bagru
The interest rates on vehicle loans offered by different lenders in Bagru may vary, but they are all reasonable and competitive. If you want to get a car loan Bagru with the lowest interest rate, follow the steps below:
- Choose a shorter repayment term – Many car loan applicants believe that lengthier repayment terms are better because the monthly EMI (equated monthly instalment) is low. They don’t seem to be aware that in lenders’ view lengthier payback terms are an indication of a borrower’s low repayment capabilities, so they charge higher interest rates. So, if you want to save money on your car loan, you should consider a shorter payments period.
- Research and compare the perks offered by different lenders – If you wish to get a decent deal on your auto loan, then you must first explore and compare the benefits that are offered by different lenders. This can help you figure out which lenders will have the best interest rates and, as a result, which lender to choose.
- Maintain a modest debt-to-income ratio – The debt-to-income ratio measures how much of an applicant’s income goes towards their loan repayment, and lenders take this into account when giving you interest rates. If your debt-to-income ratio is low, then you have a better chance of getting a car loan with a lower interest rate.
- Maintain a good credit score — Lenders will be pleased to offer you a car loan with low interest rates if you have a good credit score. Lenders consider a credit score of above 750 to be ideal and perfect. Many lenders may give auto loans to people with bad credit, but they will demand a higher interest rate in return. Check your credit scores regularly with Dialabank’s official “Free Credit Score” service to make sure you have a good credit score. This will allow you to take the 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 Bagru?
For availing of a car loan offline with Dialabank, you will have to visit the branch personally, which might turn out to be a tiresome experience for you. Dialabank saves you from this hassle. Availing of a car loan Bagru is an easy process with Dialabank. All you have to do is follow these steps to avail the best offers:
- Visit our website Dialabank.
- Click on the car loan option available on the menu and fill in your details in the space provided such as your income structure and your phone number.
- After that, you have to just wait. At some time our team will contact you and help you choose the loan offer that fits best for you.
So what are you waiting for? Apply now!
Which Bank in Bagru Offers the Best Car Loans?
Many big banks and NBFCs, including HDFC, Private, and SBI, offer vehicle loans in Bagru. 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 Bagru
TABLE WILL APPEARProcessing Fees / Prepayment Charges on Car Loan Bagru
| 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 Bagru
A CIBIL score is important when it comes to a car loan because it helps the banks and NBFCs to avoid bad loans, i.e. a failure by the borrowers in repayment. A higher credit makes you a trustworthy applicant. On the other hand, a lower score might charge you a higher interest rate and delay your approval.
Most banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Bagru. This score might vary from bank to bank.
Car Loan Bagru Contact Number
In case of any queries regarding the car loan in Bagru, you may contact our relationship manager on 9878981166.
Pre Calculated EMI Table for Car Loan Bagru
| 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 Bagru
Bagru is located in the state of Rajasthan and is known for its Bagru print, which is one of the traditional techniques of printing with natural colour followed by the ‘chippas’. Its tourist spots include the Bagru Fort, the Vishwakarma Madir, the Jugal Maharaja Madir, etc. Its population is around 32000.
Car Loan Banks in Bagru
| Bank Name | Bank Address | IFSC Code |
| HDFC BANK | HDFC BANK LTD G S COMPLEX LINK ROAD, DIST-JAIPUR | HDFC0002217 |
| BANK OF BARODA | BAGRU ROAD,BEGAS,DIST JAIPUR,RAJASTHAN 303005. | BARB0BEGASX |
| STATE BANK OF INDIA | H 140 BAGRU INDUSTRIAL ASSOCIATION BUILDING, RIICO INDUSTRIAL AREA BAGRU EXTENSION 303007 | SBIN0032119 |
FAQ’s About Car Loan Bagru
✅ 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.
