Car Loan Bodhgaya

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Car Loan Bodhgaya

Best Banks for Car Loan in Bodhgaya


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Car Loan Bodhgaya 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

If you want to buy a car, a car loan is a fantastic option. A car loan is financial aid provided by a lender, such as a bank or a non-bank financial institution, to help you purchase a vehicle. This allows you to pay monthly payments to quickly repay the loan amount over time. You’ve come to the right place if you’re looking for a car loan in Bodhgaya. Learn which banks offer 100% financing and have the lowest interest rates to make an informed decision.

Car Loan Bodhgaya


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Car Loan Bodhgaya 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 Bodhgaya EMI Calculator

Car Loan Bodhgaya 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 Bodhgaya 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


car loan

Car Loan Bodhgaya 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 Bodhgaya

In Bodhgaya, the interest rates on automobile loans given by various lenders are all acceptable and competitive. Follow the procedures below to secure a car loan in Bodhgaya with the lowest interest rate:

  • A credit rating tells a lender that you’re a less dangerous borrower because you’ve previously made on-time payments, as indicated by your score.
  • The interest rate you pay on your auto loan is determined by the amount you borrow. You may be able to acquire a cheaper interest rate if you choose a larger loan amount.
  • If you have an excellent payment and activity history, companies may be willing to offer you a cheaper interest rate on a vehicle loan.
  • When you earn more money, you may be eligible for a lower interest rate because a higher income suggests a stronger ability to repay the loan.
  • When debt-to-income ratios are low, customers have a higher chance of receiving a new mortgage at a lower rate.

How to Apply for a Car Loan in Bodhgaya?

A car loan is straightforward with Dialabank to obtain in Bodhgaya:

  • Select the car loan choice from the drop-down menu, check our website. Enter the car facts and your income. Wait then for our financial advisor to contact you at your telephone number. You can call our relationship managers at9878981166 if you have any questions about the loan.
  • This can be a tough circumstance for you to go to the branch itself. You must accomplish this.


car loan

Which Bank in Bodhgaya Offers the Best Car Loans?

A number of major banks and financial non-banks offer auto loans in the city. The best lender will naturally be able to give you with the loan at a fair value and to distribute the funds as soon as possible. It is always always a good idea to examine different lenders’ vehicle loans before applying for one that fulfils all your criteria, for example interest rates.

Car Loan for Major Car Manufacturers in Bodhgaya

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Bodhgaya

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 Bodhgaya

The CIBIL scoring represents your past credit history and all previous credit defaults. Due to the high credit value that most financial institutions demand, the decent credit rating is 750 or above. Nevertheless, every bank and NBFC has their own minimum standards for a CIBIL loan score. If there is a CIBIL score of less than 750 the interest rate may be higher.

A poor CIBIL score may lead to a rejection of your loan as it is the first item that a bank is looking into prior to your application.


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Car Loan Bodhgaya Contact Number

For questions concerning the Bodhgayan car loan, contact 9878981166 for assistance. For further information, please contact us.


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Pre Calculated EMI Table for Car Loan Bodhgaya

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

About Bodhgaya

It’s a village in Bihar, India’s Gaya district. It is one of the Buddhist pilgrimage destinations of most importance. It is on the west side of the river Phalgu, a river Ganga affiliate.


car loan

Car Loan Banks in Bodhgaya

Bank Name Bank Address IFSC Code
ORIENTAL BANK OF COMMERCE NR INTERNATIONAL MEDITATION CENTRE, BEHIND MAYA SAROVAR, BODHGAYA, DIST GAYA, BIHAR, PIN 824231 ORBC0101965

FAQ’s About Bodhgaya Car Loan

✅ What is the most common reason for a car loan application getting denied?

A poor or bad credit score is one of the most common reasons why a loan application gets rejected. If you have a bad credit history, then the chances of your loan application getting rejected are high. If you regularly default in paying EMIs, have many loans in your name, etc. then the lender will lose trust in your ability to repay your loan.

✅ Is it cheaper to repay your car loan early?

It depends. If you repay your loan early i.e. in the initial years of your loan repayment period, then you will save a lot on interest payouts. However, if you are repaying your loan in the later months of your loan repayment period, then you might experience more costs in the form of fees and penalties.

✅ What happens if I pay extra in EMI?

If you pay more than the required EMI, then that extra amount will be adjusted towards your loan amount. This will in turn reduce your loan tenure as well.