Car Loan Bapurasapuram

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Car Loan Bapurasapuram

Best Banks for Car Loan Bapurasapuram

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


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Car Loan Bapurasapuram 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

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Car Loan Bapurasapuram Eligibility Criteria

The car loan eligibility requirements are as follows in Bapurasapuram:

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 Bapurasapuram EMI Calculator

Car Loan Bapurasapuram 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 Bapurasapuram Fees and Charges: Leading Banks – Apr 19 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


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Car Loan Bapurasapuram Documents Required

Documents required for a car loan 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 Bapurasapuram

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

  • Choose a shorter repayment term – Because the monthly EMI (equal monthly instalment) is cheap, many vehicle loan applicants assume that longer repayment terms are better. They don’t appear to realise that lenders see longer payback terms 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 various 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 lenders use it to determine interest rates. If your debt-to-income ratio is lower, you have a higher chance of securing a car loan with a lower interest rate.
  • Maintain a good credit score — If you have an excellent credit score, lenders will be happy to provide you with a car loan with lower interest rates.  To ensure a decent credit score, check your credit scores regularly 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 Bapurasapuram?

Availing of a car loan Bapurasapuram 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.
  • Please 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.


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Which Bank in Bapurasapuram Offers the Best Car Loans?

Several prominent banks and NBFCs, including HDFC, Private, and SBI, offer car loans in Bapurasapuram. The finest lender will be able to provide you with the loan amount you need at a fair interest rate and release the funds as quickly as feasible. As a result, it is always a good idea to compare vehicle loans from multiple lenders before applying for a vehicle loan that meets all of your criteria, such as interest rates.

Car Loan for Major Car Manufacturers in Bapurasapuram

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Bapurasapuram

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 Bapurasapuram

The CIBIL score is a numerical indicator of your ability to repay debts. A higher credit score shows a good credit history and makes your vehicle loan application easier to process. Banks and NBFCs in Bapurasapuram are more likely to approve your loan application if you have a credit score of 750 or above.

From one bank to the next, this score may differ. If your CIBIL score is below the acceptable level, you will be obliged to pay a high interest rate on a loan; conversely, if your CIBIL score is high, you may be requested to pay a low interest rate. As a result, while applying for a car loan, a CIBIL score is an important factor to consider.


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Car Loan Bapurasapuram Contact Number

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


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Pre Calculated EMI Table for Car Loan Bapurasapuram

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 Bapurasapuram

Bapurasapuram is a city in Tamil Nadu, India. If you want to take Car Loan Bapurasapuram, visit our website and get the loan at a low-interest rate.


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FAQ’s About Car Loan Bapurasapuram

✅ What kinds of automobiles can I get a Car Loan for?

Various passenger vehicles, such as SUVs (Sport Utility Vehicles), MUVs (Multi Utility Vehicles), and other models, can be purchased with car loans. A car loan can be utilised to buy a vehicle for commercial purposes as well. Trucks, tractors, and construction equipment may also be financed by some lenders.

✅ Is it feasible to get a loan on my existing car?

Yes, many lenders will issue you a loan on your present vehicle if you have a good payment history with your current lender.

✅ What are my repayment options for my Auto Loan?

Three possibilities for repaying your loan are Standing Instruction (SI), Electronic Clearing Service (ECS), and Post-Dated Cheques (PDCs).