Car Loan Balasore

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Car Loan Balasore

Best Banks for Car Loan in Balasore

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 Balasore Features Car Loan Balasore

Having a personal car is the dream of most of the people. But most people cant fulfill their dream due to insufficient financial conditions. Don’t worry. We are here to help you. Dialabank helps people to compare, analyze, and choose the best loan possible for their needs. Just apply for the car loan through Dialabank. If your CIBIL score is good then you will get a good rate of interest and also you will get high tenure for repayment of the loan

All the banks and NBFCs are ready to provide car loans. you can get the loan amount for the Ex-showroom price and also, if required you will get a loan for on-road price also.

Car Loan Balasore Interest Rate

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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 Balasore Documents Required

Documents required for car loan are as followed:

For salaried employees

Identity proofs can include any of the given the applicant’s passport copy, PAN card, voters ID card, and driving license

Income proof which requires the latest 3-month salary slip with form 16

Address proof which the applicant can choose Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card

Bank statements from the last 6 months.

For Self-employed

Identity proofs can be any of the given: passport copy, PAN card, voters ID card, and driving license

Income proof which requires the latest ITR

Address proof which you can choose among Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card

Bank statements from the last 6 months are mandatory to submit.

Car Loan Balasore Eligibility Criteria

The car loan eligibility requirements are as followed in Balasore:

For Salaried Employee

The Minimum age required for sanctioning a loan is 21 years while the Maximum age at loan maturity is 65 years

The minimum employment period should be 1 year in current employment and also a minimum of 2 years of total employment

The Minimum Annual Income for a salaried-employee is Rs 100000 net annual income

For Self- Employed

  1. An applicant should belong to an age group between 21 to 65 years of age
  2. A Self-employed individual must have their business running from at least the last three years.
  3. Minimum Annual Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for best mid-sized and premium cars

Car Loan for Major Car Manufacturers in Balasore

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TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Balasore

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 Balasore

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

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

Car Loan Balasore Contact Number

You can get a car loan Balasore easily from Dialabank by contacting the number 9878981166.

Pre Calculated EMI Table for Car Loan Balasore

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 Balasore

Balasore or Baleshwar is a city in the state of Odisha, about 194 kilometres (121 mi) north of the state capital Bhubaneswar and 152 kilometres (94 mi) from Kolkata, in eastern India. It is the largest city of northern Odisha and the administrative headquarters of Balasore district. It is best known for Chandipur beach. The Indian Ballistic Missile Defense Program’s Integrated Test Range is located 18 km south of Balasore.

According to the 2011 Indian Census, Balasore had a total population of 144,373.

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 EMI Calculator

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Car loan EMI can be calculated by the Car loan EMI Calculator provided by Dialabank. It is free to use and you can use it an infinite number of times. Equated Monthly Installments(EMI) is the monthly fixed charges that you pay to the bank as monthly repayment for the loan amount borrowed.

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