Car Loan Bhangala

Best Banks for Car Loan in Bhangala

Car Loan Bhangala 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

When you take out a car loan from a bank in Bhangala, you receive your money in one lump sum and then you can pay it back over time (plus interest). The size of your monthly payment is determined by how much you borrow, how long it takes you to repay it, and your interest rate.

Car Loan Bhangala

Car Loan Bhangala Eligibility Criteria

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 Bhangala EMI Calculator

Car Loan Bhangala 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 Bhangala Fees and Charges: Leading Banks – Apr 24 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 Bhangala 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.

How to Get the Best Car Loan Interest Rates in Bangala

The interest rates on vehicle loans offered by different lenders in Bhangala may vary, but they are all reasonable and competitive. If you want to get a car loan in Bhangala with the lowest interest rate, follow the steps below:

Choose a shorter repayment period – Car loan applicants frequently believe that longer repayment terms are preferable because they can pay the loan off in smaller instalments. This notion is incorrect, and it typically leads to higher interest rates, so consider a shorter repayment time if you want to save money on your auto loan.
Examine and compare the benefits provided by various lenders – If consumers are seeking a car loan, a thorough evaluation of different banks and their plans is required. Our customer service professionals can assist you with this step and even walk you through the approval process.
Maintain a low debt-to-income ratio — The debt-to-income ratio determines how much of an applicant’s income is used to repay a previous loan, and lenders use this ratio when considering your loan application. You have a higher chance of securing a car loan with a reduced interest rate if your debt-to-income ratio is low.
Maintain a strong credit score – If you have a solid credit history and a credit score of 750 or higher, lenders will gladly provide you with a car loan with low-interest rates. In addition, a strong credit score demonstrates that you have made timely payments on your prior loans.

How to Apply for a Car Loan in Bhangala?

Visit Dialabank.
Go to the loan.
Choose your preferred city.
For more call 9878981166.

Which Bank in Bhangala Offers the Best Car Loans?

Vehicle resources are offered in Bhangala from several large banks and NBFCs, including HDFC, Private, and SBI. The best lenders in Bhangala will be able to give you the loan amount you require at a reasonable interest rate and will be able to release the funds as soon as possible. As a result, it’s usually a good idea to shop around for auto loans from various lenders in Bhangala before settling on one that fulfils all of your requirements.

Car Loan for Major Car Manufacturers in Bhangala

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Bhangala

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 in Bhangala

A credit score is a numerical representation of a person’s capacity to repay a loan. It’s a depiction of their creditworthiness in numbers. A credit score is a three-digit figure that ranges from 300 to 900, with 900 being the highest. Credit bureaus across the country determine credit scores after considering a variety of factors such as the length of your credit history, revolving debt, and payment history.

Car Loan Bhangala Contact Number

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

Pre Calculated EMI Table for Car Loan Bhangala

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 Bhangala

Bhangala is a miniature village which is located in the Abohar Block of Fazilka district of Punjab, India. If you want to take Car Loan Bhangala, visit our website and get the loan at a low-interest rate.

Car Loan Banks in Bhangala

Bank	Bank Address	IFSC
HDFC BANK	HDFC BANK LTD., GHUMAN SHOPPING COMPLEX V.P.O. BHANGALA, TEHSIL-MUKERIAN, HOSHIARPUR PUNJAB 144306	HDFC0003171

FAQ’s About Bhangala Car Loan

✅ Is it possible to pay off the auto loan before the end of the term?

Banks demand a prepayment fee if you pay off your auto loan early. The prepayment penalty is a modest percentage of the auto loan’s outstanding principal. You can save money on interest by pre-closing your car loan. Even if the borrower wants to prepay the car loan, the bank may not agree.

✅ What is the procedure for obtaining a car loan?

A vehicle loan functions similarly to other types of loans. First, you obtain a car loan from a financial organization, such as a bank or the auto dealer where you purchase the vehicle. That institution agrees to lend you money to purchase the car, and you agree to repay the loan in monthly instalments, plus interest.

✅ Is CIBIL affected if a loan is closed before it is due to be paid off?

Your score may not be affected by the pre-closure period. However, your prospects of building a strong credit history will lead to a higher credit score and be harmed. Even if you have the necessary finances, you recommend keeping up with your payments and cancelling your account on the due date.