Car Loan Birbhum

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Car Loan Birbhum

Best Banks for Car Loan in Birbhum

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car loan

Car Loan Birbhum 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

Car Loan Birbhum

A car loan is a form of funding or financial assistance provided by banks and NBFCs to applicants at a low-interest rate to assist them in purchasing a vehicle. Cars have become a necessity for everyone, but their cost is increasing rapidly daily. This is where a Car Loan comes in to help you realise your dream of owning a luxurious vehicle. The following are the main characteristics of a Car Loan Birbhum:

  • Low-interest car loans are readily available.
  • In Birbhum, almost all major banks and NBFCs offer car loans.
  • The documentation procedure is simple and straightforward.
  • Dialabank makes it simple to get a car loan.

Car Loan Birbhum


car loan

Car Loan Birbhum 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 Birbhum EMI Calculator

Car Loan Birbhum 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 Birbhum Fees and Charges: Leading Banks – May 26 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 Birbhum 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 Birbhum

Different lenders in Birbhum offer different interest rates on vehicle loans, but they are all reasonable and competitive. Follow the steps below to get the lowest interest rate on a Car Loan Birbhum:

  • Select a shorter repayment term – Many Car Loan applicants believe that longer repayment terms are preferable because the monthly EMI (equated monthly instalment) is low. However, they don’t seem to realise that lenders view longer repayment terms as indicating a borrower’s poor repayment ability, so they charge higher interest rates. Consider a shorter payment period if you want to save money on your car loan.
  • Investigate and compare the benefits provided by various lenders – If you want to get a good deal on an auto loan, you must first investigate and compare the benefits provided by various lenders. This can assist you in determining which lenders have the best interest rates and, as a result, which lender to select.
  • Maintain a low debt-to-income ratio – The debt-to-income ratio measures how much of an applicant’s income goes toward loan repayment, and lenders consider this when determining interest rates. Therefore, you have a better chance of getting a Car Loan with a lower interest rate if your debt-to-income ratio is lower.
  • Maintain a good credit score — If you have a good credit score, lenders will be happy to offer you a Car Loan with lower interest rates. Lenders in Birbhum consider a credit score of 750 or higher to be good. Unfortunately, many lenders will make auto loans to people with bad credit but higher interest rates.

How to Apply for a Car Loan in Birbhum?

Dialabank makes it simple to obtain a Car Loan Birbhum.

  • Dialabank can be found on the internet.
  • Select the Car Loan option from the menu.
  • Fill in the blanks with information about your car and your income.
  • Please be patient as our relationship manager will contact you shortly.
  • You can also reach our relationship managers at 9878981166.
  • To obtain a Car Loan offline, you must personally visit the nearest branch.
  • To obtain a Car Loan offline, you must personally visit the branch, which may be inconvenient for you.


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Which Bank in Birbhum Offers the Best Car Loans?

Vehicle loans are available from several large banks and NBFCs in Birbhum, including HDFC, ICICI, and SBI. The best lender is one who can give you the loan amount you require at a reasonable interest rate and distribute the funds as soon as possible. Therefore, before applying for a vehicle loan that meets all of your needs, such as interest rates, it is always a good idea to compare them from various lenders.

Car Loan for Major Car Manufacturers in Birbhum

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Birbhum

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 Birbhum

The CIBIL score determines your ability to repay your debts. A higher credit score defines your good credit history and makes the application process smooth and simple. Banks and NBFCs typically require a credit score of 750 or higher to approve your loan application in Birbhum. This score may differ from one bank to other in Birbhum. If your CIBIL score falls below the required level, you will be required to pay a high-interest rate on the loan amount. This is referred to as what determines your ability to repay your debts.


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Car Loan Birbhum Contact Number

In case of any queries regarding the Car Loan in Birbhum, you may contact on the number 9878981166 for any assistance.


car loan

Pre Calculated EMI Table for Car Loan Birbhum

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 Birbhum

Birbhum district is a local government unit in the Indian state of West Bengal. Birbhum is the northernmost district of the Burdwan division, and one of West Bengal’s 5 administrative divisions. Suri is the district headquarters. Rampurhat, Bolpur, and Sainthia are also important cities.


car loan

Car Loan Banks in Birbhum

BANK NAME BANK ADDRESS BANK IFSC CODE
BANDHAN BANK LIMITED TARULIYA MORE,LOBA GRAM PANCHAYAT,PO JHIRUL,PS DUBRAJPUR,DIST-BRIBHUM,WEST BENGAL,PIN-731124 BDBL0001839
BANK OF INDIA N S ROAD, NICHUPATTYNEAR DURGAMANDIR), BOLPUR BKID0004398
BANK OF INDIA MALLARPUR ROY PARA BUS STANDVILL & PO MALLARPUR, DISTT BIRBHUM BKID0004399
INDIAN OVERSEAS BANK BAHINA MORE,KANACHI,MOLLARPUR,KANACHI,PIN 731216 IOBA0001121
STATE BANK OF INDIA PONISCHINTAPURDISTBIRBHUM SBIN0005920
STATE BANK OF INDIA PO TARAPITHDISTBIRBHUM SBIN0006931
STATE BANK OF INDIA VILLAGE AND POST BARABAGAN,SURI, DIST BIRBHUM, WB-731103 SBIN0018611
UCO BANK JANU BAZAR SABUJ SAMITY,JANUBAZAR UCBA0003051
YES BANK GROUND FLOOR,SANTINIKETAN ROAD,BOLPUR,BIRBHUM,WEST BENGAL,PIN – 731204 YESB0000676

FAQ’s About Birbhum Car Loan

✅ What happens after I pay my last EMI?

After you pay the last EMI, your lender will issue a form and NOC (No Objection Certificate) to the RTO, which falls under the jurisdiction of your car. After this, the lender’s name will be removed from the RC, and yours will be added.

✅ Can I get a pre-approved Car Loan Birbhum from my bank?

Yes absolutely! Many banks offer pre-approved Car Loans to their existing customers whose credit history is known to them. To be eligible for a pre-approved Car Loan, you must have a good credit record and a good credit history.

✅ What is an EMI?

EMI is Equated Monthly Installment which is the mode of repayment of your loan. The loan amount (principal and interest) has to be paid monthly via EMIs to the bank. The EMI constitutes a major chunk of interest payments in the first few years of your repayment tenure.