Car Loan Birkona

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Car Loan Birkona

Best Banks for Car Loan in Birkona

Feature
HDFC Bank
ICICI 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


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Car Loan Birkona 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 Birkona

You’ve come to the right place if you’re looking for a Car Loan in Birkona. Compare interest rates, processing costs, and tenures for free, and get approval or estimates in as little as 30 minutes. Learn how to improve your Birkona Car Loan eligibility, as well as a list of the top banks in Birkona that offer auto Loans and their unique features. Learn which banks offer 100% financing and have the lowest interest rates to make an informed decision.

Car Loan Birkona


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Car Loan Birkona 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 Birkona EMI Calculator

Car Loan Birkona 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 Birkona 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


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Car Loan Birkona 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 Birkona

The interest rates on vehicle Loans in Birkona vary, but they are all reasonable and competitive. Follow the steps below to get the best interest rate on a car loan in Birkona:

  • 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. 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.
  • 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 Birkona consider a credit score of 750 or higher to be good. Conversely, many lenders will provide auto loans to people with bad credit but higher interest rates.

How to Apply for a Car Loan in Birkona?

  • First, go to our website. Dialabank
  • The second step is filling the online application form.
  • Third, fill out the above application form with your basic information.
  • Following that, you will receive a phone call from us.
  • If you have any questions about the Loan, please contact our relationship managers at 9878981166.
  • To obtain a Car Loan offline, you must personally visit the branch, which may be inconvenient for you.

Which Bank in Birkona Offers the Best Car Loans?

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

Car Loan for Major Car Manufacturers in Birkona

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Birkona

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 Birkona

When applying for a car loan, your CIBIL score is very important. The higher your CIBIL score, the larger the loan amount you will receive in the shortest amount of time. In general, this is that a CIBIL score usually reflects the applicant’s attitude toward their credits. Conversely, if the score is low, the customer has a poor credit history and may not be responsible for their past and current credit or debts.


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Car Loan Birkona Contact Number

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


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Pre Calculated EMI Table for Car Loan Birkona

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


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About Birkona

Birkona is a town located in Bilaspur Tehsil of Chattisgarh. India. Gold Loan from Dialabank in Birkona is very beneficial for any individual. All you have to do is to visit Dialabank and you may contact on the number 9878981166 for any assistance related to Gold loan in Birkona.


car loan

FAQ’s About Birkona Car Loan

✅ What is the maximum loan tenure for a Car Loan?

The Loan tenure of a Car Loan varies due to a variety of factors. Banks offer loans for a maximum period of 84 months. But it is ultimately upon you to decide whether you want to increase your repayment tenure or have a shorter repayment tenure because Longer the repayment tenure, the lower the EMI, and the shorter the repayment tenure, the higher the EMI. Your repayment tenure also reflects your repayment capacity, so you should choose wisely.

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

No, in most cases, you do not require a guarantor with the bank to avail a Car Loan. This is because a Car Loan in Birkona is a Secured Loan. However, if you do not meet the income eligibility criteria or you have a poor credit history, you might require to have a guarantor to improve your chances of your Loan application being approved.

✅ What is part payment of the Loan?

It means repaying your Loan early in parts, i.e. before the Loan tenure ends. Part-payment reduces your Loan tenure as well as your Loan amount. This ensures that you also pay lower EMI on your Loan. But part payment can only be made after the lock-in period of your Loan gets over and if your bank allows you to do so. Banks also levy a fee for part payment.