Car Loan Banswada

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Car Loan Banswada

Best Banks for Car Loan Banswada

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 Banswada 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 Banswada


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Car Loan Banswada Eligibility Criteria

The car loan eligibility requirements are as follows in Banswada:

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 Banswada EMI Calculator

Car Loan Banswada 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 Banswada Fees and Charges: Leading Banks – May 26 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


car loan

Car Loan Banswada Documents Required

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.


car loan

How to Get the Best Car Loan Interest Rates in Banswada

Varied lenders in Banswada offer different interest rates on auto loans, but they are all sensible and competitive. Follow the steps below to secure a car loan in Banswadai with the lowest interest rate:

  • Choose a shorter repayment term – Because the monthly EMI (equivalent monthly instalment) is cheap, many vehicle loan applicants assume that longer repayment terms are better. They don’t appear to realise that longer payback terms are seen by lenders as a sign of a borrower’s poor repayment ability, therefore they charge higher interest rates. Consider a shorter payment time if you want to save money on your car loan.
  • Research and compare the perks offered by different lenders – If you want to receive a good bargain on an auto loan, you should first look into and evaluate the different lenders’ features. This can assist you in determining which lenders offer the lowest interest rates and, as a result, which lender to select.
  • Maintain a modest debt-to-income ratio – The debt-to-income ratio calculates how much of an applicant’s income goes toward loan repayment, and it’s used by lenders to determine interest rates. You have a higher chance of securing a car loan with a lower interest rate if your debt-to-income ratio is lower.
  • Maintain a good credit score — If you have an excellent credit score, lenders will be happy to provide you a car loan with lower interest rates. A credit score of 750 or more is considered healthy by lenders. Many lenders may provide negative credit borrowers auto loans, but they will charge a higher interest rate. To ensure you have a decent credit score, check your credit scores on a regular basis using Dialabank’s “Free Credit Score” service. If your credit score is poor, you’ll be able to take steps to improve it, and if your credit score is strong, you’ll be able to approach lenders with confidence.

How to Apply for a Car Loan Banswada?

Availing of a car loan Banswada is an easy process with DialaBank. To take advantage of the best deals, follow these steps:

  • Visit our website Dialabank.
  • Select the option for a car loan from the menu.
  • Fill in the facts about the vehicle and your earnings.
  • Wait for our relationship manager to contact you at the phone number you provided.
  • If you have any questions about the loan, you can call our relationship managers at 9878981166.
  • You will have to visit the bank in person to apply for a car loan, which may be inconvenient for you.


car loan

Which Bank in Banswada Offers the Best Car Loans?

The CIBIL score is a number that determines your ability to repay your debts. A higher credit score indicates a positive credit history and facilitates the processing of your vehicle loan application. Most banks and NBFCs in Banswada consider a credit score of 750 or higher to be a good score when approving your loan application.

Car Loan for Major Car Manufacturers in Banswada

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Banswada

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


car loan

CIBIL Score Required for Car Loan Banswada

The CIBIL score is a number that determines your ability to repay your debts. A higher credit score indicates a positive credit history and facilitates the processing of your vehicle loan application. Most banks and NBFCs in Banswada consider a credit score of 750 or higher to be a good score when approving your loan application.

From one bank to the next, this score may differ. If your CIBIL score is below the minimum, you will be obliged to pay a high interest rate on the loan; however, if your CIBIL score is above the minimum, you may be requested to pay a low interest rate. As a result, a CIBIL score is a crucial consideration when applying for a car loan.


car loan

Car Loan Banswada Contact Number

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


car loan

Pre Calculated EMI Table for Car Loan Banswada

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


car loan

About Banswada

Banswada is a Town located in Kamareddy district of the Indian state Telangana. Visit our official site for more information about Car Loans.


car loan

Car Loan Banks in Banswada

Bank Name Bank Address IFSC code
ANDHRA BANK TADUKOL ROAD,BANSWADA,NIZAMABAD DIST,AP ANDB0000197
CORPORATION BANK GROUND FLOOR DOOR NO 1 1 83 15 1 TADKDE ROAD BANSWADA TADKDE ROAD CORP0003171
HDFC BANK HDFC BANK LTD., NO 1-1-13, 1,2,3,4,5,6 OLD BANSWADA RD,AMBEDKAR CHOWRASTA NIZAMABAD ANDHRA PRADESH 503187 HDFC0003180
STATE BANK OF INDIA NO.1183 BY 15 BY 1 TO 15,TADKOLE ROAD,BANSWADA,NIZAMABAD DIST,A P 503187 SBIN0012968
STATE BANK OF INDIA O51612OLDBASWADAROADCAITAYACOLOYBASWADAIZAMABAD SBIN0021958
SYNDICATE BANK MAIN ROAD,BANSWADA,,,NIZAMABAD ,503 187 SYNB0003513
TELANGANA STATE COOP APEX BANK 2467,OPP FOREST OFFICE,YELLAREDDY ROAD,BANSWADA TSAB0018003
TELANGANA STATE COOP APEX BANK H.NO 352,HANMAJIPET,BANSWADA MANDAL TSAB0018042

FAQ’s About Car Loan Banswada

✅ What kind of vehicles are eligible for a Car Loan?

Car loans are available for a variety of passenger vehicles, including SUVs, MUVs, and other models. A business vehicle can also be purchased with the help of a car loan. Trucks, tractors, and construction equipment are also available from some lenders.

✅Is a loan on my current vehicle possible?

Many lenders will provide you a loan on your present vehicle if you have a good payment history with your current lender.

What are my alternatives for repaying my Auto Loan?


Three possibilities for repaying your loan are Standing Instruction (SI), Electronic Clearing Service (ECS), and Post-Dated Cheques (PDCs). The first two choices are normally recommended for returning your loan because they are faster and have a smaller risk of error, which is not the case with PDCs.