Car Loan Bhangala

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Car Loan Bhangala

Best Banks for Car Loan in Bhangala


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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


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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


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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


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Car Loan Bhangala Fees and Charges: Leading Banks – May 21 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


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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.


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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?

  1. Visit Dialabank.
  2. Go to the loan.
  3. Choose your preferred city.
  4. 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, ICICI, 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
>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 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.


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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.


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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


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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.


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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.