Car Loan Banasinga

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Car Loan Banasinga

Best Banks for Car Loan Banasinga

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

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Car Loan Banasinga 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

Car Loan Banasinga

A vehicle loan is financial assistance provided by banks and non-bank financial institutions (NBFCs) to help people acquire cars. The banks offer the necessary funds for developing the vehicle, which can be purchased at the Ex-Showroom or On-Road pricing. They also had the lowest interest rates and required the least amount of paperwork. Dialabank will assist you in selecting, comparing, and analysing all of the most acceptable auto loan Ban options available.


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Car Loan Banasinga Eligibility Criteria

The car loan Banasinga 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

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Car Loan Banasinga EMI Calculator

Car Loan Banasinga 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

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Car Loan Banasinga Fees and Charges: Leading Banks – May 20 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


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Car Loan Banasinga Documents Required

Documents required for car loan Banasinga 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.

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How to Get the Best Car Loan Interest Rates in Banasinga

Varying banks and NBFCs have different interest rates for auto loans in Banasinga, but they are all acceptable and competitive. Follow the steps below to get the best interest rate on a car loan in Banasinga:

  • Choose a shorter repayment term – Choosing a more prolonged period means you won’t have to pay as much in EMIs each month, but it will encourage the lender to charge you a higher interest rate. To get the lowest interest rate from the lender, choose the shortest term available.
  • Research and compare the perks offered by different lenders – Make sure you’ve looked into all of the banks and NBFCs that offer vehicle loans in Baidpura. This will assist you in making the best decision and selecting a bank that will meet all of your needs.
  • Maintain a modest debt-to-income ratio – The debt-to-income ratio determines how much of an applicant’s income goes toward loan repayment. It is taken into account by lenders when determining interest rates. As a result, if your debt-to-income ratio is low, you’ll have a greater chance of securing a low-interest auto loan.
  • Maintain a good credit score — If you have a strong credit score, lenders will be happy to provide you with a low-interest auto loan. A credit score of 750 or higher is considered ideal and perfect by lenders. Many lenders may provide negative credit borrowers auto loans, but they will charge a higher interest rate in exchange. To ensure a good credit score, use Dialabank’s official “Free Credit Score” service regularly. This will allow you to take the necessary measures to enhance your credit score if it is low, and it will enable you to approach lenders with confidence if your credit score is good.

How to Apply for a Car Loan Banasinga?

Availing of a car loan Banasinga is an easy process with DialaBank. Follow the steps given below to avail of the best offers:

  • Visit our website Dialabank from your browser.
  • Now go to the loan part of the page and select the car loan option.
  • The applicant will next be requested to fill out all of the auto loan data, including selecting their preferred city based on their requirements.
  • Call 9878981166 for more information on vehicle loans and additional assistance

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Which Bank in Banasinga Offers the Best Car Loans?

In Banasinga, most of the large banks and NBFCs, including HDFC, ICICI, and SBI, offer vehicle loans. Compare all of your alternatives for a vehicle loan in Banasinga on the market and pick the best one that meets all of your needs. The best option is one that provides you with a cheap interest rate, a long repayment period, and 100 per cent financing of the car’s on-road costs.

Car Loan for Major Car Manufacturers in Banasinga

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Banasinga

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

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CIBIL Score Required for Car Loan Banasinga

Your creditworthiness is determined by your CIBIL score, which is based on your previous transactions. As a result, it is a crucial consideration when taking out a car loan. The minimum CIBIL score necessary for vehicle loans varies by bank. MOST BANKS CONSIDER a CIBIL score of 750 ideal and flawless, making it easy to execute your vehicle loan application. In case of a low CIBIL score, you might be required to pay a higher interest rate on the loan amount to get the loan.


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Car Loan Banasinga Contact Number

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


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Pre Calculated EMI Table for Car Loan Banasinga

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

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About Banasinga

Banasinga is a village in Dhenkanal, Orissa, India, in the Gandia Tehsil. If you need a Car Loan Banasinga, come to our website and apply for a low-interest loan.


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FAQ’s About Car Loan Banasinga

✅ What are my options for repaying my auto loan?

You have three alternatives for repaying your loan: Standing Instruction (SI), Electronic Clearing Service (ECS), and Post-Dated Cheques (PDCs). However, you usually recommend that you repay your loan using the first two alternatives because they are speedier and have a more negligible risk of error, whereas PDCs do not.

✅ Where can I get an EMI interest car loan calculator?

You can use the EMI calculator on Dialabank’s official website or the one provided by your lending institution. Enter several interest rates that may be given to you to calculate the EMIs. You may get the interest rate by filling out a loan application, which will ask you for basic information like your salary, company, and work experience, depending on which prospective interest rates are provided.

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

Any vehicle can be purchased with the help of a car loan. It is unconcerned with the type of four-wheeler you choose to get.