Car Loan Chennai

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Buy your dream Car

Rates as low as 7.35%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

Best Banks for Car Loan in Chennai

Feature
HDFC Bank
ICICI Bank
Kotak Mahindra Bank
Interest Rate
8% - 8.4 %
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

Car Loan Chennai Features

Car Loan Chennai

The car has become an indispensable part of everybody’s life. Without it, no one can imagine life to run smoothly. But buying a car requires a large amount of financing and it is quite difficult to arrange finance with limited income. Getting a vehicle advance in Chennai is the most ideal way and the most gainful technique to benefit money in a brief period.

Here in Dial-a-bank, we will help you to get the most affordable car loan with lesser interest rates. With some banks offering loan amount in the lakhs, which means you are not limited in your choice of cars.

Car Loan Chennai Interest Rate

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
1%
Nil
Andhra Bank Car Loan
Nil
Nil

 

To check Personal Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates

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Car Loan Chennai Documents Required

  1. You will need any one of the Proofs of Identity like a Passport copy, PAN Card, Voters ID card, Driving License
  2. You must show any one of the Proofs of Income  for Salaried applicant is the Latest 3-month salary slip with form 16 and for Self Employed is the Latest Income Tax Returns (ITR)
  3. You will need any one of the Proofs of Address like Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Lastly, you will need 6 months of Bank Statement

Car Loan Chennai Eligibility Criteria

1.SALARIED INDIVIDUALS

  • Minimum age: 21 years
  • Maximum age at loan maturity: 65 years
  • Minimum employment: 1 year in current employment and a minimum of 2 years of employment.
  • Lowest Annual Income: Rs 100000 net annual income.

2.SELF-EMPLOYED INDIVIDUALS

  • Minimum age: 30 years
  • Maximum age at loan maturity: 65 years
  • Minimum employment: At least 2 years in business
  • Minimum Annual Income: Net profit Rs. 60,000 Per Annum for standard cars and Rs.1,00,000 Per Annum for mid-sized and premium cars

How to Apply for Car Loan in Chennai?

  1. Visit us at dialabank
  2. Go to the loan section and click on the auto loan link.
  3. Fill out the form with details and submit the form.
  4. We will contact you in a short period of time.
  5. For further information please contact 9878981166.

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Car Loan for Major Car Manufacturers in Chennai

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Chennai 

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

CIBIL Score Required for Car Loan in Chennai

A CIBIL score is a numeric score that describes an applicant’s ability to repay his past loans efficiently and regularly. Maintaining a good CIBIL score is essential if you want to avail of a car loan at a lower interest rate. Also, having a good CIBIL score increases the processing speed of your application.

Most of the banks except a 750+ score to process your car loan in Chennai but these may be higher or lower depending upon the individual requirements of the banks. The minimum CIBIL score requirement for car loans in Chennai may vary from banks to banks.

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Car Loan Chennai Contact Number

Customers can contact us at 9878981166 to get exclusive car loan deals right from your home or can apply

Pre Calculated EMI Table for Car Loan Chennai

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 Chennai 

Chennai, on the Bay of Bengal in eastern India, is the capital of the territory of Tamil Nadu. The city is home to Fort St. George, implicit 1644 and now a gallery exhibiting the city’s underlying foundations as a British military battalion and East India Company exchanging station when it was called Madras. Strict locales incorporate Kapaleeshwarar Temple, enhanced with cut and painted divine beings, and St. Mary’s, a seventeenth-century Anglican church.

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