Car Loan Banasinga

Best Banks for Car Loan Banasinga

Feature	HDFC Bank	Private 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 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.

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

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

Car Loan Banasinga Fees and Charges: Leading Banks – Apr 25 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 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.

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

Which Bank in Banasinga Offers the Best Car Loans?

In Banasinga, most of the large banks and NBFCs, including HDFC, Private, 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
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 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.

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.

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

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.

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.