Best Banks for Car Loan in Bhanpuri
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 Bhanpuri 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
The period when owning a car or a two-wheeler was considered a luxury is long gone. It is now a must for everyone to have their own vehicle. An auto loan puts anything within reach, whether it’s your first automobile, an expensive upgrade of an older model, a used car, a business vehicle, or a two-wheeler.
Car Loan Bhanpuri Eligibility Criteria
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 Bhanpuri EMI Calculator
Car Loan Bhanpuri 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 Bhanpuri Fees and Charges: Leading Banks – Apr 24 2024
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 Bhanpuri Documents Required
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 Bhanpuri
Varied lenders in Bhanpuri offer different interest rates on automobile loans, but they are all sensible and competitive. Follow the steps below to secure a car loan in Bhanpuri with the lowest interest rate:
- Choose a shorter repayment period – Many vehicle loan applicants assume that longer repayment terms are preferable because the EMI (equated monthly instalment) is low. Unfortunately, they don’t seem to realize that lenders in Bhanpuri see longer repayment terms as a sign of a borrower’s poor repayment ability. Therefore they charge higher interest rates. As a result, if you want to save money on your car loan, cons are a good option.
- Investigate and compare the benefits provided by various lenders. If you want to secure a good deal on an auto loan, you must first investigate and compare the benefits provided by other lenders.
- Maintain a low debt-to-income ratio — The debt-to-income ratio measures how much of an applicant’s income goes toward loan repayment. It is taken into account by lenders when determining interest rates. As a result, if your debt-to-income ratio is lower, you’ll have a higher chance of securing a reduced-interest auto loan.
- Maintain an excellent credit score – If you have a good credit score, lenders will be happy to provide you with a car loan with lower interest rates. A credit score of 750 or more is considered healthy by lenders in Bhanpuri. Many lenders may provide negative credit borrowers auto loans, but they will charge a higher interest rate. To ensure a good credit score, use Dialabank’s “Free Credit Score” service frequently. 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 in Bhanpuri?
Dialabank makes getting a car loan in Bhanpuri a simple process. To take advantage of the best deals, follow these steps:
- Dialabank is our website.
- Select the option for a car loan from the menu.
- Fill in the facts about the vehicle and your earnings.
- You then Wait for our relationship manager to contact you at the phone number you provided.
- If you have any questions or queries about the loan, you can call our relationship managers at 9878981166.
- To take out a car loan Bhanpuri offline, you will have to visit the branch personally, which might be hectic for you.
Which Bank in Bhanpuri Offers the Best Car Loans?
Car loans Bhanpuri provides several large banks and NBFCs, including HDFC, Private, and SBI. The best lender 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 a good idea to evaluate auto loans from various lenders before applying for one that fulfils all of your requirements, such as interest.
Car Loan for Major Car Manufacturers in Bhanpuri
TABLE WILL APPEAR
Processing Fees / Prepayment Charges on Car Loan Bhanpuri
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 in Bhanpuri
The CIBIL score is a value that determines your ability to repay your debts. A higher credit score indicates a positive credit history and facilitates the processing of your vehicle loan application. Most banks and NBFCs in Bhanpuri consider a credit score of 750 or higher to be a good score when approving the application for a loan.
Car Loan Bhanpuri Contact Number
If you have any queries about the car loan Bhanpuri, you may contact the number 9878981166 for any assistance.
Pre Calculated EMI Table for Car Loan Bhanpuri
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 Bhanpuri
Bhanpuri is a city in the state of Orissa, India. Bhanpuri is a town in the Ganjam District of Odisha, India, and a Notified Area Council. Bhanpuri was originally named Russellkonda after George Russell, then President of the Board of Revenue, but was later renamed Kabi Samrat Upendra Bhanja.
If you are in urgent need of money and you have any query feel free to contact Dialabank.
Car Loan Banks in Bhanpuri
Bank | Band Address | IFSC |
CENTRAL BANK OF INDIA | GOLDEN MARKET RING ROAD NO 2 BHANPURI PO BIRGAON KHAMATARAI RAIPUR 493 221 | CBIN0283482 |
HDFC BANK | HDFC BANK LTD C-8, GOLDEN ORBIT MARKET RING ROAD NO.2, DIST-RAIPUR BHANPURI | HDFC0002110 |
Private BANK LIMITED | Private BANK LTD., ORBIT GOLDEN MARKET, C-9, C-10, BHANPURI, RAIPUR – 493221, CHATTISGARH | ICIC0001817 |
STATE BANK OF INDIA | BHANPURI,BILASPUR ROAD,BHANPURI,,BHANPURI,DIST RAIPUR,DISTRAIPUR 493221 | SBIN0012147 |
FAQ’s About Bhanpuri Car Loan
✅ How can I tell if my auto loan has been paid off?
Go to the RTO website, click on ‘Vehicle details,’ and enter your Vehicle Regn No and other information. You will then be given full RC records, which may include Hypothecation information if applicable.
✅ Will paying extra on my auto payment lower my monthly cost?
Paying extra will assist in minimizing the overall amount of interest you’ll pay if your loan doesn’t have precalculated interest.
✅ Is it a good idea to pay off a car loan Bhanpuri early?
The most significant advantage of prepaying a car loan is that it eliminates debt and eliminates the need to make monthly payments. In addition, when you pay off a car loan, the hypothecation on the vehicle is released, and you gain full ownership.