Car Loan Boha

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All About Car Loan Boha

Car Loan BohaAs the size of the family increases, it’s not possible to travel with everyone on a two-wheeled vehicle. It’s also not safe to travel on a scooter or motorcycle with family. A Car is the best option as it is comfortable and convenient for all these purposes. And you can buy a car easily by applying for a car loan with us.

What is a Car Loan?

Car is a dream for every person; everyone wants that their family can go places altogether under a single roof without the hassle of dust, sunlight, rain, etc. Overall car is a safe option for traveling with proper comfort and many facilities, so everyone wants to own a car.

But owning a car isn’t that simple as it doesn’t come in a few pennies. A standard Hatchback car can cost you a minimum of 5 lacks, and it is not possible for everyone to manage this big amount altogether.

But here we make owning your car simple by the help of Car Loan where just by fulfilling a few processes you can have your dream cat at your home.

Features and Benefits of Car Loan Boha

  1. A car loan helps you purchase a better car than the one that you can buy with your savings.
  2. It helps you to buy your car without spending too much time in saving for that car.
  3. Car Loan is a secured loan where your purchased car is your security and in case of non-repayment of EMIs.
  4. The loan amount depends on the income, credit score, and professional background of the applicant. It also depends on the car, and the rates may vary from bank to bank.
  5. Banks generally provide 75%-80% finance on car loan depending on the profile of the applicant and for grade A applicant it may go to 100% finance.

Car Loan Boha Eligibility

There are various eligibility criteria to take a car loan depending on individuals i.e.

SALARIED

Profession: The person should be working in a government, private or MNC Company.

Eligible Age: The Minimum age to apply for a Personal Loan is 21 years, and the maximum is 60 years.

Minimum income: The person should be getting a minimum of 18,000p.m. Salary.

Work Experience: The applicant should have at least three years of working experience, and more than three months of experience in the current company.

CIBIL score and EMI percentage: The minimum CIBIL score required for Personal Loan is 650 & maximum EMI should be not more than 65% of monthly income.

SELF-EMPLOYED

Profession: The Person should be professionals like Doctors, CA, CS, Architects, Lawyer, or, doing his own business.

Eligible Age: The minimum age to apply for a personal loan is 23 years, and the maximum is 65 years.

Minimum income:  The minimum revenue from business or the profession should be not less than 25,000p.m.

Work Experience: The person should have at least three years of his professional experience.

CIBIL score and EMI percentage: The minimum CIBIL score required for Personal Loan is 650 & maximum EMI should be not more than 65% of monthly income.

PARTNERSHIP FIRMS 

Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars.

Minimum turnover: Turnover Rs. 4.5 lakhs.

PRIVATE LIMITED COMPANY

Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 pa for mid-sized and premium cars

Minimum turnover: Turnover Rs 4.5 lakhs

PUBLIC LIMITED COMPANY 

Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a for mid-sized and premium cars

Minimum turnover: Turnover Rs 4.5 lakhs

Car Loan Boha Documentation

Salaried

  • Identity Proof: Adhar Card, Passport, Voter ID card or Driving License
  • Address proof: Ration card, Passport, Rent agreement, electricity/water bill.
  • Last six months Bank statement & 3 months’ salary slip
  • Latest form 16
  • PAN card

Self-Employed

  • Identity Proof: Adhar Card, Passport, Voter ID card or Driving License
  • Address proof: Ration card, Passport, rent agreement, electricity/water bill.
  • Latest six months of Bank statement.
  • Latest ITR along with computation of income along with P/L audited by certified CA for the previous two years.

Car Loan Boha for the agriculturist

 If the amount is Rs.10 lacks, then the farmer should have a land of about 3-5 acres, and he will get a loan to 65-75% of the total loan amount.

 If the loan amount is more than Rs. 10 lacks, then the farmer should own at least 20 acres of land. He will get the percentage of the loan amount depending upon his income and ITR.

Additional information about Car Loan Boha

  1. The CIBIL of the applicant needs to be more than 700.
  2. The loan is given for a period of 60 months to 84 months.
  3. The minimum amount of credit that can be claimed by the applicant is Rs. 1 lakh.
  4. Also, the top-up amount is twice the paid loan amount.
  5. Car Loan is not given to constables.
  6. The persons having CIBIL 0, 1, -1 are also considered right customers.
  7. If the installment gets bounced, then the amount charged by the bank will be doubled for the respective month.

Car Loan Boha Interest Rate

The interest rate for a car loan depends from bank to bank and the profile of the applicant. But we provide your car loan with interesting and reasonably low-interest rates.

The interest rates start with 8.60% p.a. and may vary on the loan amount.

Interest Rate

New Car

Less than 3 lacs

10.25%

3-6 lacs

9.50%

6-10 lacs

9.25%

10-20 lacs

9.00%

More than 20 lacs

8.70%

Used Car

14.00%

 

Car Loan Boha Fees & Charges

Fees & Charges

Stamp Duty

At Actuals

Processing fees

Up to 2.5 Lacs: Rs.2825

Over Rs. 2.51 Lakhs up to 4 Lakhs: Rs. 3850/-<

Maximum 5000

*SPECIAL OFFER from DialaBank: Rs.1750/-*

Loan cancellation / re-booking charges

In the event of cancellation, interest charges from disbursement date till refund of disbursement amount will be borne by the customer

Legal, Repossession & Incidental charges

At Actuals

Loan Reschedulement charges

Rs. 1000/-

 

 

 For EMI Calculator click here:-

Leading Car Loan Providers (Click to Apply)

  1. HDFC Car Loan
  2. Kotak Mahindra Car Loan
  3. Yes Bank Car Loan
  4. ICICI Bank Car Loan
  5. Axis Bank Car Loan
  6. State Bank of India Car Loan
  7. Canara Bank Car Loan
  8. IndusInd Bank Car Loan
  9. Others

Special Note: Banks do not provide Car Loan to bad credit holder, but one can fulfill their money requirement with Gold Loan easily.

 About Boha

Boha a large muncipality of Mansa district in state Odisha. The Banks and NBFCs are also willing to process the Car Loans in Bohaas more as possible. Visit dialabank.com  and get assistance as soon as possible.

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