Car Loan Bilimora

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Car Loan Bilimora

Best Banks for Car Loan in Bilimora


car loan

Car Loan Bilimora 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

A Car Loan is a financial help offered by different banks in Bilimora and NBFCs to buy a car. The banks in Bilimora provide the necessary funding for purchasing a vehicle which can be on Ex-Showroom price or the On-Road price of the car. The interest rates and document processes were the lowest. Compare free interest rates, cost of processing and tenure and obtain approval or estimates in 30 minutes. Learn which banks provide 100% financing and have the lowest interest rates to make an informed decision.

Car Loan Bilimora


car loan

Car Loan Bilimora 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 Bilimora EMI Calculator

Car Loan Bilimora 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 Bilimora Fees and Charges: Leading Banks – Nov 28 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 Bilimora 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 Bilimora

The rates of interest offered by various Bilimora lenders vary. If you want to get the lowest interest rate for a car loan in Bilimora, follow the following steps:

  • Select a shorter repayment term – a shorter repayment period will help you save money on your loan, as it is seen by banks as an indication of your repayments. Many borrowers think longer reimbursement times are better because the monthly EMI is low, but this is not always the case.
  • Research and comparison of the performance of the different lenders – Research by the various lenders and comparison of the offers is advisable and more prudent. This will help you if you want a decent car loan deal.
  • Hold a small debt to income ratio – How much of your income goes to loans repayments is measured by the debt to revenue ratio. When setting interest rates, lenders take this into account. You have a better chance to get a car loan with a smaller interest rate when your debt-to-income ratio is lower.
  • Maintain a good credit score – if you have a good credit score above 750 that is considered healthy, you will be glad to offer you a loan for the car at lower interest. Many lenders can lend to people with poor loans, but in that case, they charge a higher interest rate. Check the dial bank “Free Credit Score” for your credit results on a regular basis to correct your loan score if it is low.

How to Apply for a Car Loan in Bilimora?

A car loan is easy to obtain with Dialabank in Bilimora. To use the best offers, follow the following steps:

The applicant is informed of all the details of the car loan where he can select his favourite city.

  • Visit Dialabank
  • Go to the Loan section and select the Car Loan link.
  • The Car Loan details you can choose from will direct you to all your favourite cities.
  • Wait for your number soon to be contacted by our relationship manager.
  • If you have any questions concerning the loan, you may also contact our relationship managers on 9878981166.
  • To use an Offline Car Loan, you must personally come to the branch, which could make you hectic.


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Which Bank in Bilimora Offers the Best Car Loans?

Many banks and NBFCs in Bilimora offer motor loans. The best lender is the one to provide the loan at a reasonable rate and to distribute the money as fast as possible. Before you apply for one that meets all your needs, such as interest rates, it’s always good to compare vehicle loans from many lenders.

Car Loan for Major Car Manufacturers in Bilimora

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Bilimora

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 Bilimora

The score for CIBIL reflects your ability. A higher credit score means that you have a good credit history and makes it easy to handle your application for car loans. Banks and the NBFCs are generally of the opinion that your loan application process in Bilimora is approved with a credit score of 750 and above.

Again, this score can vary between banks. If a low CIBIL score exceeds the required amount, you must pay a high-interest rate on the loan amount while you may have a low rate of interest if the CIBIL score is good. Therefore, in a car loan, a CIBIL score is a key factor.


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Car Loan Bilimora Contact Number

If you have any queries about the car loan in Bilimora you can ask for any help by contacting 9878981166.


car loan

Pre Calculated EMI Table for Car Loan Bilimora

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 Bilimora

Bilimora is a town on the banks of the Ambika River, located in Gujarat district of the state of Gandevi taluka and Navsari in India. You can visit our website and get the loan at low-interest rates if you wish to take a car loan Bilimora.


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Car Loan Banks in Bilimora

BANK NAME BANK ADDRESS BANK IFSC CODE
BANK OF BARODA JAWAHAR ROAD BRANCH,BANK OF BARODA,P.B.NO.51,JAWAHAR RD (MAIN), BILIMORA,BILIMORA,396321 BARB0BILIMO
BANK OF BARODA GOHAR BAUG BRANCH,MAIN ROAD, GOHAR BAUG, BILIMORA, DIST. NAVSARI,BILIMORA,396321 BARB0GOHARB
CANARA BANK CANARA BANK , SHOP NO 13, 5 AND 6, RAJVI COMPLEX BILIMORA CHIKHLI ROAD GOHARBAUG, BILIMORA (EAST) PIN – 396321 DT NAVSARI CNRB0003809
CORPORATION BANK 5084, MAHATMA GANDHI ROAD,BILLIMORA (WEST),NAVSARI 396321 GUJARAT CORP0001740
FEDERAL BANK GROUND FLOOR, LABDHI SQUARE, OPP. HONEST TRADING CO., GOHARBAUG, NAVSARI DIST FDRL0001828
HDFC BANK GROUND FLOOR & FIRST FLOORBHERUNATH PLAZA, GOHARBAUG,CHIKHLI ROAD, HDFC0000937
IDBI BANK BESIDE BANK OF BARODA, GAUHARBAUG, BILIMORA – 396321, DIST. NAVSARI IBKL0068GP3
ICICI BANK LIMITED ICICI BANK LTD., GROUND FLOOR, BHAIRAVNATH COMPLEX, J.C PARK, MAHADEV NAGAR, BILIMORA, TALUKA. GANDEV, DIST. NAVSARI, PIN CODE – 396321. ICIC0001382
INDIAN OVERSEAS BANK GOUHARBAUGH ROAD,NEAR J. P. JEWELERS,BILIMORA,DIST NAVSARI PIN 396 321 IOBA0002226
KOTAK MAHINDRA BANK LIMITED GR FLR CITY SURVEY NO 3363 3 A B LAXMIBAUG BILIMORA CHIKHLI MAIN RD DIST NAVSARI GUJARAT PIN 396321 KKBK0003032
BANK OF MAHARASHTRA 1, DHULICHAND NAGAR, COLLEGE ROAD, CHIKHLI ROAD, (OLD BAJAJ SHOW ROOM) BILIMORA-396321 MAHB0001638
PRIME COOPERATIVE BANK LIMITED NISHCHAY COMPLEX, COLLAGE ROAD, GOHAR BAUGH, BILIMORA, DIST NAVSARI PMEC0101313
STATE BANK OF INDIA A BY 391,GAUHAR BAUG,MAHADEVNAGAR ROAD BILIMORA 396321 DIST NAVSARI SBIN0060202
TAMILNAD MERCANTILE BANK LIMITED SHOP NO 6 AND 7 , KADAMB ENCLAVE, NURSERY ROAD, BILIMORA 396 321, GUJARAT TMBL0000461
UNION BANK OF INDIA MAHADEV NAGAR P.O.BILLIMORA TALUKA GANDEVI DIST.VALSAD GUJARAT PIN 396321 UBIN0536989
UCO BANK TULIP RESIDENCY, GROUND FLOOR, NR. HARSIDDHICE FACTORY, NURSERY ROAD, DEVSAR BILIMORA, D 396321 UCBA0002841
AXIS BANK GR FLOOR SHOP NO 2492 LABDHI HOUSE GOHAR BAUG MORARJI DESAI MARG BILIMORA NAVSARIGUJARA 390013 UTIB0002997
VIJAYA BANK RAMIBA COMPLEX,GOHARBAG,BILIMORA TAGANDEVI,DIST.NAVSARI VIJB0007380

FAQ’s About Bilimora Car Loan

✅ What types of vehicles can I purchase from in Bilimora Car Loan?

Car Loans can be used to buy various passenger vehicles as well as for business purposes. You can buy cars like SUVs (Sport Utility Vehicles), MUVs (Multi Utility Vehicles), etc. For business purposes.

✅ What is the minimum salary required for availing of a Car Loan?

Most banks do not specify a minimum required salary to avail a Loan. You just need to meet the basic eligibility criteria of your selected bank to avail a Car Loan with them. Your debt-to-income ratio may also be checked. In case you do not meet the above-mentioned criteria, you can avail of the loan with a co-borrower or a guarantor to improve your chances of getting the Loan.

✅ Are there tax benefits on a Car Loan?

Unlike Home Loans, there are no tax benefits on a Car Loan under Income Tax Act, 1961.