Car Loan Budhlada

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Car Loan Budhlada

Best Banks for Car Loan in Budhlada

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 Budhlada 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

Are you within the marketplace for a brand-new four-wheeler? however lack the monetary suggests that to try and do so? With the assistance of Dialabank, you’ll be able to currently simply acquire a personal loan at extraordinarily low interest rates from a range of banks and NBFCs. We’ll assist you in choosing the simplest loan for your circumstances, guiding you thru the appliance procedure and helping you in making ready your documentation.

Car Loan Budhlada

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Car Loan Budhlada Eligibility Criteria

The car loan eligibility requirements are as follows in Budhlada:

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 Budhlada EMI Calculator

Car Loan Budhlada 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 Budhlada Fees and Charges : Leading Banks – Nov 27 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 Budhlada Documents Required

The documents required for applying for a car loan in Budhlada are: –

Salaried Individual

Documents Required
Identity Proof (Any 1) Passport
Voter ID
Aadhar Card
Driving License
Address Proof (Any 1) Aadhar Card
Driving License
Electricity Bill
Date of Birth Proof(Any 1)
Birth Certificate
High School Marksheet
Driving Licence
Signature Proof(Any 1)
Bankers Verification
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

Documents Required
Identity Proof (Any 1) PAN Card
Voter ID
Aadhar Card
Address Proof (Any 1) PAN Card
Voter ID
Electricity Bill
Date of Birth Proof (Any 1) Birth Certificate
Driving Licence
Signature Proof (Any 1)
Bankers Verification
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

Documents Required
Identity Proof (Any 1) Driving Licence
PAN Card
Aadhar Card
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

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 Budhlada

  • Choose a shorter repayment term – Due to a misconception among borrowers, some people prefer longer loans but end up paying a lot more as interest. If you want to save some money on your loan, try getting a loan with a shorter tenure.
  • Research and compare the perks offered by different lenders – Smart and financially responsible borrowers always compare a huge variety of plans offered by various lenders to choose the one that best suits their specific set of needs.
  • Maintain a modest debt-to-income ratio – A borrower’s debt-to-income ratio helps in determining how much of the loan seeker’s income is spent in the repayment of an older loan; The chances of getting a new loan approved increase if this metric is low.
  • Maintain a good credit score — One of the biggest factors that come into play while approving a car loan application is the CIBIL score of the borrower in question. Lenders usually prefer applicants with a credit score of at least 750.

How to Apply for a Car Loan in Budhlada?

Applying for a car loan in Budhlada is a pretty easy process with DialaBank, just follow the following steps written below to avail of the best offers in your locality: –

  • Visit our webportal Dialabank.
  • Click on the car loan option available on the website.
  • Fill up the concerned fields with details regarding the car type and your yearly income.
  • Our relationship manager will soon get in your touch.
  • You may also contact us on 9878981166 in case you have any queries regarding the loan.

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Which Bank in Budhlada Offers the Best Car Loans?

A lot of car loan providers in Budhlada, including the likes of HSBC and SBI, offer loans at really reasonable interest rates with a range of repayment tenures. It must be quite hectic for busy professionals to go through all these plans alone, but Dialabank representatives can help you complete this step. After you fill up a form, our representatives will instantly get in your touch and walk you through the entire loan application process and help you prepare the necessary documentation ready for the application process.

Car Loan for Major Car Manufacturers in Budhlada


Processing Fees / Prepayment Charges on Car Loan Budhlada

Category Details
Processing Charges
1999 - 4999 + Tax
No prepayment is allowed until 12 EMIs are paid
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 Budhlada

A loan seeker’s CIBIL Score is one of the most essential parameters a lender takes into consideration when it comes to approving a car loan. Most of the major players in the car loan business require the borrower to maintain a score between 750 to 900 to process their application. A CIBIL score in this range portrays that the borrower has successfully paid off his previous loans and credit card bills on time. Sometimes, the lenders provide credit to individuals with low CIBIL scores, but they charge a comparatively higher interest rate.

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Car Loan Budhlada Contact Number

If you have any queries regarding the auto loan in Budhlada, please contact us on 9878981166 for any assistance.

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Pre Calculated EMI Table for Car Loan Budhlada

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 Budhlada

Budhlada is a city and a municipal council in Mansa district in the state of Punjab, India. You can easily avail Car loan via Dialabank.

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FAQ’s About Budhlada Car Loan

Will banks finance my car’s accessories too?

No, most banks and NBFC’s provide a loan amount sufficient only for the standard trim of the car.

What form of collateral do lenders require for a car loan in Budhlada?

Lenders consider the car you are buying as a collateral asset for your loan.

What is the maximum age limit to apply for a car loan in Budhlada?

The maximum age limit to apply for a car loan in Budhlada is usually set between 60-70.