Car Loan Bishnah

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Car Loan Bishnah

Best Banks for Car Loan in Bishnah

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 Bishnah 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 personal automobile, which was formerly considered a luxury, has now become a necessity. However, most people are unable to pursue this demand, either because they cannot shoulder the financial strain or because qualifying for a Car Loan is too hard for them. Dialabank can assist you with these issues.

Car Loan Bishnah


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Car Loan Bishnah 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 Bishnah EMI Calculator

Car Loan Bishnah 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 Bishnah Fees and Charges: Leading Banks – May 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


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Car Loan Bishnah 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 Bishnah

Varied lenders in Bishnah offer different interest rates on vehicle loans, but they are all sensible and competitive. Follow the steps below to get the best interest rate on a car loan in Bishnah

  • Select a shorter repayment period – Many Car Loan applicants assume that longer repayment terms are preferable because the monthly EMI (equated monthly instalment) is low. They don’t appear to realise that lenders consider longer repayment terms to indicate 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 secure a good deal on an auto loan, you must first investigate and compare the benefits provided by other lenders. This can assist you in determining which lenders offer the best interest rates and, as a result, which lender to select.
  • Maintain a low debt-to-income ratio — The debt-to-income ratio assesses how much of an applicant’s income goes toward loan repayment, and lenders consider this when determining interest rates. Therefore, you have a higher chance of receiving a Car Loan with a lower interest rate if your debt-to-income ratio is lower.
  • Maintain an excellent credit score – If you have a strong credit score, lenders will be happy to provide you with a Car Loan with lower interest rates. Lenders in Bishnah consider a credit score of 750 or higher to be good. Many lenders will provide auto loans to persons with bad credit but at a higher interest rate.

How to Apply for a Car Loan in Bishnah?

To obtain a Car Loan offline, you must personally visit the bank, which may be a time-consuming experience for you. Dialabank relieves you of this burden. DialaBank makes it simple to obtain a Car Loan Bishnah. All you have to do is follow these procedures to get the greatest deals:

  • Please visit our website at Dialabank
  • Click on the Car Loan option on the menu and enter your information, such as your income structure and phone number, in the box provided.
  • After that, all you have to do is wait for few moments. Then, our experts will call you shortly and assist you in selecting the best loan offer for you.


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Which Bank in Bishnah Offers the Best Car Loans?

Vehicle Loans are available from many large banks and NBFCs in Bishnah, including HDFC, ICICI, and SBI. The best lender is one that can give you the loan amount you require at a reasonable interest rate and transfer the funds as soon as possible. Before applying for one that meets all of your criteria, such as interest rates, it is always a good idea to compare auto loans from other lenders.

Car Loan for Major Car Manufacturers in Bishnah

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Bishnah

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 Bishnah

A CIBIL score is vital for a Car Loan because it assists banks and NBFCs in avoiding bad loans, i.e. borrowers’ failure to repay. A higher credit score indicates that you are a reliable applicant. On the other hand, a lower score may result in a higher interest rate and a delay in approval.

Most banks and NBFCs consider a credit score of 750 or higher to be satisfactory for approving your Loan application process in Bishnah. However, this score may differ from one bank to other in Bishnah.


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Car Loan Bishnah Contact Number

If you have any questions about the Car Loan in Bishnah, you can call 9878981166 for help.


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Pre Calculated EMI Table for Car Loan Bishnah

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 Bishnah

Bishnah is a town and a published area committee in the Jammu district in the Indian union territory of Jammu and Kashmir. Famous Contestant Ankush Sharma belongs to the same town. Ankush Sharma is the winner of KBC12 in the year 2020. This place is located in the Union Territory of Jammu and Kashmir.


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FAQ’s About Bishnah Car Loan

✅ What is the processing time for a Car Loan?

The entire process of applying for a Car Loan is hassle-free. Once you apply for the loan, you will be asked to complete the formalities – submit the documents, fill the form, sign the application, etc. Once your application gets approved by the lender, the loan will be sanctioned within 3-7 days.

✅ Can interest rates be negotiated?

Yes, interest can be negotiated. The bank does not fix interest rates, and they decide it depends upon your income, past payment history, credit score and consider a wide variety of factors. If you are a loyal customer and have a good credit history, you can easily negotiate to get a good interest rate.

✅ What are the types of Car Loan interest rates?

There are two types of interest rates – floating and fixed interest rates. You can choose any of them which suits you better!