Car Loan Bhainsa

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Car Loan Bhainsa

Major Car Loan Providers in Bhainsa

Feature
HDFC Bank
ICICI Bank
Kotak Mahindra Bank
Interest Rate
8% - 8.4 %
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 Bhainsa FeaturesCar loan Bhainsa

A car loan is a financial help provided by banks and NBFC’s to fulfill your dream of having your car. They provide necessary funding for purchasing a car which can be on Ex-Showroom Price or On-Road Price of the car. A Car Loan is a secured loan with easy repayment options. The loan amount is offered on Interest charges which vary from bank to bank. One can pay for the vehicle in easy installments.

Features of car loan in Bhainsa are:

  • Up to 90-95% of the funding available for new cars
  • Up to 80-85% of the funding available for used cars
  • The loan period is usually between 1 to 7 years.
  • The interest rate is calculated based on the compound interest.
  • Equated Monthly Installment is worked out for repayment.
  • Early settlement of the pending amount is available subject to the prepayment penalty.

Car Loan Bhainsa Interest Rate

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 Bhainsa Documents Required

Documents required for car loan are as followed:

For Salaried Employee

  1. Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
  2. Income Proof:  Latest 3-month salary slip with form 16
  3. Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Bank Statement: Last 6 months.

For Self Employed

  1. Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
  2. Income ProofFor Salaried Latest ITR of the firm that applicant is running
  3. Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Bank Statement: Last 6 months.

Car Loan Bhainsa Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Employee

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: For Salaried- 1 year in current employment and a minimum of 2 years of employment
  4. Minimum Annual Income: For these individuals Rs 100000 net annual income

For Self Employed

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: For Salaried-  at least 3 years in operating business
  4. Minimum Annual Income: For such applicant’s  Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars.

Car Loan for Major car Manufacturers in Bhainsa

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TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Bhainsa

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

CIBIL Score Required for Car Loan in Bhainsa

CIBIL score reflects your credit history in the past as well as your defaults in repayment of your previous loans. A good credit score is considered as 750 and above as most of the financial institutions ask for a high credit score. Every bank and NBFC has different criteria for a minimum CIBIL score they require to process your loan. A Lower CIBIL score than 750 can attract a higher rate of interest.

A very low CIBIL score might lead to rejection of your loan as it is the first thing a bank tracks before processing your loan.

Car Loan Bhainsa Contact Number

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For more information regarding the car loan in Bhainsa, you can visit us at Dialabank or call us on 9878981166.

Pre Calculated EMI Table for Car Loan Bhainsa

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 Bhainsa

Bhainsa is a town in the state of Telangana. It falls under the district of Nirmal.

Special Note: Banks do not provide Car Loans to bad credit holders, but one can fulfill their money requirement with Gold Loan easily.

Car Loan EMI Calculator

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