Car Loan Canacona

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Car Loan Canacona

Best Banks for Car Loan in Canacona


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Car Loan Canacona 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 Canacona

Looking for a car loan in Canacona, this article might be a great help for you. Differentiate between interest rates, processing costs, and tenures for free. You might even get approval in as little as 30 minutes. Know eligibility and a list of banks offering car loans in your city.

Car Loan Canacona


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Car Loan Canacona Eligibility Criteria

The car loan eligibility requirements are as follows in Canacona:

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 Canacona EMI Calculator

Car Loan Canacona 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 Canacona Fees and Charges : Leading Banks – May 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 Canacona Documents Required

Documents required for car loan are as follows:

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 Cancona

The financing costs on car loans offered by various loan specialists in Canacona may differ; however, they are largely sensible and serious. Assuming you need to get a car loan in Canacona with the most minimal loan fee, follow the means beneath:

  1. Pick a more limited reimbursement term – Many car loan candidates accept that lengthier reimbursement terms are better on the grounds that the month-to-month EMI (likened to regularly scheduled payment) is low. They don’t appear to be mindful that moneylenders see lengthier payback terms as a sign of a borrower’s low reimbursement abilities, so they charge higher loan fees. Assuming you need to get a good deal on your car loan, think about a shorter installments period.
  2. Research and analyze the advantages offered by various banks – If you need to get a respectable arrangement on a car loan, you should initially investigate and think about the advantages offered by various moneylenders. This can help you sort out which moneylenders have the well-being rates and, therefore, which bank to pick.
  3. Keep a modest relationship of debt to salary after taxes – The relationship of outstanding debt to take-home pay estimates the amount of a candidate’s pay goes toward loan repayment, and lenders consider this when setting interest rates. On the off chance that your debt-to-income ratio to take-home pay is lower, you have a superior shot at getting a car loan with a lower financing cost.
  4. Keep a decent credit score — Lenders will be satisfied to offer you a car loan with less expensive interest rates on the off chance that you have a good credit score. Banks consider a credit score of over 750 to be solid. Check your credit score consistently with Dialabank’s “Free Credit Score” administration to promise you to have a decent financial assessment.

How to Apply for a Car Loan in Canacona?

It’s an easy process to avail of a car loan in Canacona with Dialabank. Following are the steps you can follow to get the best offers out there:

  • Visit our website Dialabank.
  • Click on the car loan option available in the menu.
  • Fill in the details regarding the car type and your income.
  • Wait as our relationship manager will soon get in touch with you on your provided number.
  • You may also contact our relationship managers on 9878981166 in case of any queries regarding the loan.
  • For availing of a car loan offline, you will have to visit the branch personally, which might turn to be hectic for you.


car loan

Which Bank in Canacona Offers the Best Car Loans?

Many big banks and NBFCs, including HDFC, ICICI, and SBI, offer vehicle loans in Canacona. The finest lender is one that can provide you with the loan amount you need at a reasonable interest rate and can distribute the funds as quickly as feasible. It is always a good idea to compare vehicle loans from many lenders before applying for one that meets all of your needs, such as interest rates.

Car Loan for Major Car Manufacturers in Canacona

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Canacona

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 Canacona

The CIBIL score is the one that defines your capability to pay off your credits on time. It is always good to have a higher credit score to make good credit history with the lender. The banks mostly prefer you to have a credit score above 750 to approve the loan application process in Canacona. 

You can again say that this score varies from one bank to another bank. In case of a low CIBIL score than the required value, you will be required to pay a high rate interest rate on the loan amount, while if your CIBIL score is good, then you may have to pay a low rate of interest. Thus, a CIBIL score is an important factor in a car loan.


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Car Loan Canacona Contact Number

In case of any queries regarding the car loan in Canacona, you may contact on the number 9878981166 for any assistance.


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Pre Calculated EMI Table for Car Loan Canacona

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 Canacona

Canacona is a municipal council in the district of South Goa, the Indian State of Goa. Canacona taluka includes places like Loliem-Polem, Agonda, Patnem, Chaudi, Poinguinim, and Gaumdongre.


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Car Loan Banks in Canacona

BANK OF BARODA OPPOSITE COLA GRAM PANCHAYAT OFFICE COLA BARB0COLAXX
CENTRAL BANK OF INDIA CHAUDI, CANCONA, CANCONA SUBYARD MARKET, DISTRICT SOUTH GOA, GOA 403702 CBIN0284641
CANARA BANK SHOP NO 18,19,20, PHASE II, MANGALWAN COMPLEX, CHAWDI, CANACONA, GOA -403702 CNRB0002905
CORPORATION BANK LIC OF INDIA, 1ST FL., 93K CANACONA PALACE, CHAWDI, CANACONA 403702 CORP0002114
ICICI BANK LIMITED ICICI BANK LTD., MARTIN ARCADE, KARWAR ROAD, CANACONA – 403702, SOUTH GOA DIST., GOA. ICIC0001140
BANK OF MAHARASHTRA OMKAR BUILDING, NAGARCEM-CHAUDI, NEAR KTC BUST STAND, CANACONA GOA – 403702 MAHB0001534
STATE BANK OF INDIA SOUTH GOA GOA 403702 SBIN0002146
STATE BANK OF INDIA DISTSOUTH GOA GOA 403702 SBIN0004751
YES BANK LOLIEM, CANACONA, GOA – 403702. YESB0GSCB13
YES BANK NAGARCEM, CANACONA, GOA-403702 YESB0GSCB14

FAQ’s About Canacona Car Loan

✅ What types of vehicles can I purchase with a car loan?

Car loans can be used to buy various passenger vehicles, including SUVs (Sport Utility Vehicles), MUVs (Multi Utility Vehicles), and other types of vehicles. You can also get a car loan to acquire a vehicle for business purposes. Truck, tractor, and construction equipment loans are also available from some lenders.

✅ Is it possible to acquire a loan on my current vehicle?

Yes, if you have a strong payment history with your current lender, many lenders will grant you a loan on your current vehicle.

 How can I calculate EMI for a Car Loan?

You can use the Dialabank website for an EMI calculator. To calculate the EMIs, enter the interest rate, loan amount, and loan tenure. You will be able to calculate the EMIs within seconds.