Car Loan Bilga

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Car Loan Bilga

Best Banks for Car Loan in Bilga


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Car Loan Bilga 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

Everyone in the world now dreams of owning a private car, but ordinary people typically don’t have a restricted income, and loans assist you. Attractive interest rates and inexpensive EMIs are also provided with loans. Loans differ depending on the model and kind of automobile you want to buy, so be sure to select the bank that meets your needs properly. Functions such as You can also access:

  • Nearly all major banks and NBFCs in the city provide car loans in Bilga.
  • The documentation process is fast, efficient and hassle-free, which enables you to receive the best offers and helps you to find the process for yourself at every stage.

Car Loan Bilga


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Car Loan Bilga 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 Bilga EMI Calculator

Car Loan Bilga 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 Bilga Fees and Charges: Leading Banks – Jul 03 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


car loan

Car Loan Bilga 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 Bilga

The rates of interest on auto loans available by various lenders may vary in Bilga, but they are all acceptable and competitive. If you want to acquire a lowest interest rate car loan in Bilga, take the following steps:

  • Choose a shorter repayment period — Many applicants for car loans feel that longer repayment durations should be preferable because the monthly EMI is cheap. Unfortunately, lenders are not aware that lengthy payback periods show the low repayment capacities of a borrower, thus greater interest rates are charged. Therefore, consider a shorter payment time if you want to save money on your car loan.
  • Search and compare the advantages of various lenders – If you want a decently constructed car credit contract, first of all you must explore and compare the advantages of various lenders. This helps you to determine which creditors have the best interest rates and which creditor to pick from.
  • Keep a small debt-to-income ratio – The ratio of debt-to-income measures the amount of the applicant’s income towards loan repayment. Therefore you have a greater chance of receiving a reduced-interest-rate car loan if your debt-to-revenue ratio is lower.
  • Keep your credit score excellent – if you have a strong credit score, you will be glad to provide a car loan that has reduced interest rates. Lenders think that a loan score of more than 750 is solid. Many lenders can lend their cars to badly credited customers but require a higher rate. To ensure a good credit score, check your credit score periodically using the Free Credit Score service of Dialabank. This enables you to make corrections to improve your credit score if it is low and enables you to confidently contact creditors if your credit score is good.

How to Apply for Car Loan in Bilga?

Follow these procedures for a car loan with Dialabank:

  • Click on the car loan page to make a visit to our website.
  • You will be routed to a website where all your personal and professional data will have to be filled out.
  • Our professional staff will soon call you and guide you through our registered number.
  • After that, you can call our contact managers at 9878981166.

This provides you with a huge edge over the others because our website spares you from the difficulty of visiting the NBFCs and the banks, which becomes incredibly tired and chaotic. We are your finest agent, thus!


car loan

Which Bank in Bilga Offers the Best Car Loans?

Many banks and NBFCs such as the HDFC, ICICI, SBI provide Bilga car loans. The best lender is one that can provide you with the loan at a fair rate and deliver the cash as fast as possible. Therefore, comparing car loans from several lenders before applying for a loan that matches your demands like interest rates is usually a smart idea.

Car Loan for Major Car Manufacturers in Bilga

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Bilga

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


car loan

CIBIL Score Required for Car Loan in Bilga

The CIBIL score is your credibility and indicates your accountability for the repayment of loans. This is not only a characteristic of your process, but mostly affects whether or not you receive permission. In general, your Car Loan procedure is simplified with a CIBIL score of 750. A worse score will charge greater charges for you.


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Car Loan Bilga Contact Number

To obtain more details, call 9878981166 to receive the finest advice!


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Pre Calculated EMI Table for Car Loan Bilga

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


car loan

About Bilga

Bilga is located in the state of Punjab and is a historic village near Nurmahal. Its population is around 10000.


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Car Loan Banks in Bilga

Bank Name Bank Address Bank IFSC Code
CAPITAL SMALL FINANCE BANK LIMITED NEAR PATTI NELOWAL CHOWK, V.&P.O. BILGA-144036, TEHSIL PHILLAUR, DISTT. JALANDHAR CLBL0000020
CANARA BANK PATTI NILOWAL BILGA V.& P.O., JALANDHAR 141 306 CNRB0002090
HDFC BANK HDFC BANK LTD NOORMAHAL ROAD VPO.BILGA,TEHSIL-PHILLAUR BILGA PUNJAB HDFC0002298
UNION BANK OF INDIA PATI NILOWAL MAIN BAZAR VILL.POST BILGA DIST.JULLUNDER PUNJAB PIN 141036 UBIN0530867

FAQ’s About Bilga Car Loan

✅ What collateral or security do I need to provide for a Car Loan?

You do not need to provide any collateral or security with most banks to avail of a Car Loan. Your purchased car in itself is collateral/security, which the bank hypothecates for the Loan period.

✅ What is Part-payment and can I do it?

Part-payment refers to repaying your Loan in parts before your repayment period. This means that your overall Loan tenure your EMI amount will be reduced. It is beneficial because your financial burden will reduce. At the same time, it can also affect your credit score. Banks also charge a penalty for part payment.

✅ Do I need to provide a guarantor to avail myself of a Car Loan?

No, generally, you do not need to provide a guarantor to avail of a Car Loan because it is a secured Loan as your car acts as collateral with the bank. However, if you have a bad credit history or a low CIBIL score, your bank may ask you to provide a guarantor.