Major Car Loan Providers in Bid
Feature
|
HDFC Bank
|
Private Bank
|
Kotak Mahindra 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
|
Upto 90% on Ex- showroom
|
Car Loan Bid 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
Going on a trip with family and friends gives immense happiness and exceptional comfort. So go on road trips anywhere and anytime in your car. Avail car loan from Dialabank on easy terms and conditions and get the maximum amount of loan. A car loan is a financial help provided by banks and NBFC’s to fulfil your dream of having your own car. They provide necessary funding for purchasing a car 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 instalments.
The car loan eligibility requirements are as follows in Bid:
7.35% per annum Documents required for car loan are as follows: Varied lenders in Bid offer different interest rates on automobile loans, but they are all sensible and competitive. Follow the steps below to secure a car loan in Bid with the lowest interest rate: Dialabank makes getting a car loan in Bid a simple process. To take advantage of the best deals, follow these steps: Car loans Bid 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. TABLE WILL APPEAR 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 Bid consider a credit score of 750 or higher to be a good score when approving the application for a loan. From one bank to another, this score may differ. For example, you may be charged a high interest rate on the loan amount if your CIBIL score is lower than the required number; however, if your CIBIL score is great, you may be charged a low interest rate. As a result, while applying for a car loan, a CIBIL score is an important factor to consider. If you have any queries about the car loan Bid, you may contact 9878981166 for any assistance. Beed is a city in Maharashtra, India, located in the central area. It serves as the administrative centre for the Beed district. Paying extra will assist in minimizing the overall amount of interest you’ll pay if your loan doesn’t have precalculated interest. You’ll be able to pay off your loan sooner. If the loan you paid off was the sole account with a low balance before you paid it off, and now all of your active accounts have a high balance compared to the account’s credit limit or original loan amount, your credit score may suffer. A credit score of at least 750 is required to be eligible to buy a car.
Car Loan Bid 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 Bid EMI Calculator
Car Loan Bid Fees & Charges
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 Bid Fees and Charges : Leading Banks – Apr 25 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 Bid 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 Bid
How to Apply for a Car Loan in Bid?
Which Bank in Bid Offers the Best Car Loans?
Car Loan for Major Car Manufacturers in Bid
Processing Fees / Prepayment Charges on Car Loan Bid
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 Bid
Car Loan Bid Contact Number
Pre Calculated EMI Table for Car Loan Bid
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 Bid
Car Loan Banks in Bid
IDBI BANK
S T DIVISIONAL OFFICE, GROUND FLOOR BEED431122
IBKL0617S45
STATE BANK OF INDIA
MIOGTUTQMJOGIIST
SBIN0021332
FAQ’s About Bid Car Loan
✅ Will paying extra on my auto payment lower my monthly cost?
✅ When I paid off my car, why did my credit score plummet?
✅ To buy a car, what credit score is required?