Best Banks for Car Loan Bapurasapuram
Feature
HDFC Bank
Private 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
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
Car Loan Bapurasapuram Eligibility Criteria
The car loan eligibility requirements are as follows in Bapurasapuram:
Salaried Individual
Net Monthly Income – Minimum ₹ 20,000
Employment Duration – 1-year minimum
Income Eligibility – Based on Form 16 and salary slip
Self-Employed Individuals
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)
Employment Duration – 3 years minimum
The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
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 Bapurasapuram EMI Calculator
Car Loan Bapurasapuram Fees & Charges
7.35% per annum
Charges
New Car Loan
Used Car Loan
Interest Rate
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 Bapurasapuram Fees and Charges: Leading Banks – Jun 08 2023
Bank
Processing Fee
HDFC Bank Car Loan
(1999 - 4999) + Tax
Axis Bank Car Loan
1 % to 2.50%
Nil
Private Bank Car Loan
0.25% to 1.50%
SBI Car Loan
500/- to 0.50%
Nil
Kotak Car Loan
1% to 2%
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 Bapurasapuram Documents Required
Documents required for a car loan are as follows:
Salaried Individual
Category
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)
Birth Certificate
High School Marksheet
Driving Licence
Signature Proof(Any 1)
Bankers Verification
Passport
Income Proof
Bank Statement
Employment Continuity Proof
ITR of Form no. 16
Salary Slip mentioned with joining date
Letter of Appointment
Self-Employed Individuals
Category
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)
Bankers Verification
Passport
Bank Statement
Employment Continuity Proof
Shop & Establishment Act Certificate
Shop & Establishment Act Certificate
Sales Tax or VAT Certificate
Business Proof
Telephone Bill/Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
Category
Identity Proof (Any 1)
Driving Licence
PAN Card
Aadhar Card
Passport
Address Proof (Any 1)
Aadhar Card
Driving License
Voter ID
Income Proof
P&L Account
ITR for the previous 2 years
Bank Statement
Last 6 month
Business Continuity Proof
Audited Balance Sheet
TAX registration Certificate
Current Account Statement
Additional documents
2. Private Limited/Limited Companies
Category
Identity Proof
Copy of Incorporation
Address Proof (Any 1)
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
Sales Tax Certificate
Income Proof
P&L Account and ITR for the previous 2 years
Bank Statement
Previous 6 Months
Business Continuity Proof
ITR of the Company of the past 2 years
Audited Balance Sheet
Shop & Establishment Act Certificate
Additional documents
Board Resolution
PAN Card
Certificate of Commencement of Business for Ltd. Co.
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.
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
Prepayment
Preclosure
Stamp Duty
Cheque Bounce Chgs
Floating Rate of Interest
Not Applicable
Overdue EMI Interest
Amortisation Schedule Chgs
Rs 200 + GST
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.
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.
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
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.
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).