Car Loan Balugaon

Best Banks for Car Loan in Balugaon

Car Loan Balugaon 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 to get the financial support from a bank for purchasing a car that you desire. We, at Dialabank, help you choose, analyse, and compare between all the best deals available in car loan Balugaon.

Car Loan Balugaon

Car Loan Balugaon Eligibility Criteria

The car loan Balugaon eligibility requirements are as follows:

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 Balugaon EMI Calculator

Car Loan Balugaon 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 Balugaon Fees and Charges: Leading Banks – Apr 27 2024

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 Balugaon Documents Required

Documents required for car loan Balugaon 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 Balugaon

The interest rates on vehicle loans offered by different lenders in Balugaon may vary, but they are all reasonable and competitive. If you want to get a car loan in Balugaon with the lowest interest rate, follow the steps below:

Choose a shorter repayment term – Choosing a longer tenure means that you don’t have to pay huge sums of money in the form of EMI every month, but that encourages the lender to give you a higher interest rate. Choose the shortest term possible for yourself, to avail the lower interest rate from the lender.
Research and compare the perks offered by different lenders – Make sure you have done your research on all the banks and NBFCs offering the car loan Balugaon. This will help you make the right choice and choose yourself a bank that will fulfil all your requirements.
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 Balugaon?

Availing of a car loan in Balugaon is an easy process with DialaBank. Follow these steps to avail of the best offers:

Firstly, visit our website DialaBank
Secondly, Fill the online application form.
Thirdly, Enter the basic information in the above application form.
After that, you will get a call from our side
Moreover, for more information, you can call at 9878981166 with your city code.
For availing of a car loan offline, you will have to visit the branch personally, which might turn to be hectic and time-consuming for you.

Which Bank in Balugaon Offers the Best Car Loans?

Most of the big banks and NBFCs, including HDFC, Private, and SBI, offer vehicle loans in Balugaon. The best lender is the one that gives you the lowest interest rate, comfortable tenure of the repayment period, and 100% financing of the on-road price of the car.

Car Loan for Major Car Manufacturers in Balugaon

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Balugaon

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
Prepayment Charges	>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 Balugaon

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

Car Loan Balugaon Contact Number

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

Pre Calculated EMI Table for Car Loan Balugaon

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 Balugaon

Balugaon is a small town in the Khordha district of Odisha, India. It is situated near Lake Chilika about 90 km away from Bhubaneswar and 76 km from the Berhampur in Ganjam. It is a significant economic centre of Khordha district due to its prawn and fish business.

Car Loan Banks in Balugaon

Bank Name	Bank Address	IFSC Code
ANDHRA BANK	MIAN ROAD, BALUGAON. PIN – 752 030	ANDB0000742
Private BANK LIMITED	Private BANK LTD., MAIN ROAD, NH-5, BALUGOAN-752030, DIST. KHURDA, ORISSA	ICIC0002552
STATE BANK OF INDIA	DISTKHURDA ORISSA 752030	SBIN0003311

FAQ’s About Car Loan Balugaon

✅ 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.