Car Loan Chikodi

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Car Loan Chikodi

Best Banks for Car Loan in Chikodi


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Car Loan Chikodi 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 Chikodi

A Car Loan is a type of finance where a vehicle is secured as collateral for a loan. Interest is usually fixed for the life of the loan and the loan term runs usually between 3–7 years. While Car Loan Chikodi is secured, the borrower is also personally responsible for the repayment of the loan.

Car Loan Chikodi


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Car Loan Chikodi Eligibility Criteria

The car loan eligibility requirements are as follows in Chikodi:

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 Chikodi EMI Calculator

Car Loan Chikodi 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 Chikodi Fees and Charges : Leading Banks – May 21 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 Chikodi 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.


car loan

How to Get the Best Car Loan Interest Rates in Chikodi

The interest rates on vehicle loans offered by different lenders in Chikodi may vary, but they are all reasonable and competitive. If you want to get a car loan in Chikodi with the lowest interest rate, follow the steps below:

  • Choose a shorter repayment term – Many car loan applicants believe that longer repayment terms are better because the monthly EMI (equated monthly installment) is low. They are unaware that lenders view lengthier payback terms as an indication of a borrower’s low repayment capabilities, so they charge higher interest rates. So, you should consider a short payment period if you want to save money on your car loan.
  • Research and compare the perks offered by different lenders – If you wish to get a good deal on an auto loan, you must first explore and compare the benefits offered by different lenders. This can help you to figure out which lenders have the best interest rates and which lender you should choose.
  • Maintain a modest debt-to-income ratio – The debt-to-income ratio is a measure of how much of an applicant’s income goes toward loan repayment, and lenders take this into account when setting interest rates. If your debt-to-income ratio is low, you have a better chance of getting a car loan with a lower interest rate.
  • Maintain a good credit score — Lenders will be happy to offer you a car loan with cheaper interest rates if you have a good credit score. A credit score of above 750 is considered to be healthy. Many lenders may give auto loans to people with bad credit but will demand a higher interest rate. Check your credit scores regularly with the Dialabank “Free Credit Score” service to guarantee that you have a good credit score. This will allow you to take remedial action to enhance your credit score if it is low, and it will enable you to approach lenders with confidence if your credit score is good.

How to Apply for a Car Loan in Chikodi?

Availing of a car loan in Chikodi is an easy process with Dialabank. Follow the following steps to avail of the best offers:

  • 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 Chikodi Offers the Best Car Loans?

Many big banks and NBFCs, including HDFC, ICICI, and SBI, offer vehicle loans in Chikodi. The most suitable 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 advisable 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 Chikodi

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Chikodi

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 Chikodi

CIBIL Score plays a vital role while getting a car loan. The higher your CIBIL score the higher amount of loan you will get at minimum time. Generally, the reason behind this a CIBIL score usually shows the behaviour of the applicant towards his/her credits. If the score is not good means the customer has a bad credit record, he/she might not be good with his/her past and present credits or debts. It may create a big problem for the customer. A CIBIL score of more than 700 is usually considered a good credit score.


car loan

Car Loan Chikodi Contact Number

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


car loan

Pre Calculated EMI Table for Car Loan Chikodi

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


car loan

About Chikodi

It is a town situated in the Belagavi district of Karnataka. India. It is very beneficial for an individual to take a Loan from Dialabank, all you have to do is to visit Dialabank.


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Car Loan Banks in Chikodi

BANK OF BARODA GROUND FLOOR NO 704 OPPOSITE TO FEDERAL BANK ASHOK NAGAR NIPPANI CHIKODI TALUK BELGAUM KARNATAKA 591237 BARB0NIPPAN
CORPORATION BANK NO 606532992, NIPPANI-MAHALINGAPUR STATE HIGHWAY, CHIKKODI DISTRICT, BELGAUM, 84 KARNATAKA CORP0001130
CORPORATION BANK H NO 129 NARASIMHA GALLI, AT & POST SAUNDALGA-591241 CORP0001561
CORPORATION BANK H NO 244 MAIN ROAD, AT & POST ADI, TQ CHIKKODI, DIST. BELGAUM-591215 CORP0001562
CORPORATION BANK H.NO 285,OPP LAXMI TEMPLE,NAVALIHAL,CHIKKODI,BELGAUM -591287 KARNATAKA CORP0001665
FEDERAL BANK HOUSE NO.3450, SADGURU PREMNIVAS,,INDIRANAGAR BELGAUM DISTRICT FDRL0001939
HDFC BANK HDFC BANK LTD KHOT BUILDING, MAHALINGPUR, NIPPANI ROAD, HDFC0002351
IDBI BANK VCP NO.2678, RSY NO.409A, SHRI HANUMAN NIVAS, B K COLLEGE ROAD, CHIKODI 591201 IBKL0001340
IDBI BANK 944,945,1STFLOOR,GURUWARPETH,CHIKODI IBKL0101SMU
IDBI BANK 943,GURUWA PETH,CHIKODI,KARNATAKA 591201 IBKL01340DT
ICICI BANK LIMITED ICICI BANK LTD VILLAGE SHIRADWAD CHIKODI TALUKA BELGAUM DIST KARNATAKA 591214 ICIC0002729
ICICI BANK LIMITED KARATGA CHIKODI TALUKA BELGAUM DIST KARNATAKA 591263 ICIC0002730
ICICI BANK LIMITED ICICI BANK LTD PLOT NO 3473 N M ROAD JAYANAGAR CHIKODI 591201 ICIC0002815
INDIAN OVERSEAS BANK PLOT NO 171 BHIMNAGAR EAST PART NAGALINESHWAR COLONY COLG ROAD CHIKKODI BELGAUM DIST 591201 IOBA0002850
KARNATAKA VIKAS GRAMEENA BANK REGIONAL OFFICE,VANTAMUTTE BUILDING, GURUWAR PET, CHIKKODI.591201 KVGB0002200
KARNATAKA VIKAS GRAMEENA BANK HIKKODI BRANCH MIRJE COMPLEX, K.C ROAD . CHIKKODI-591201. TQ CHIKKODI, DIST BELGAUM KVGB0002304
KARNATAKA VIKAS GRAMEENA BANK HUCHCHANNAVAR BLDG NEJ TQ. CHIKKODI DT BELGAUM PIN 591 239 KVGB0002319
KARNATAKA VIKAS GRAMEENA BANK NEAR BUS STAND, AT & PO KAROSHI -591226.TQ. CHIKODI, DIST BELGAUM KVGB0002320
KARNATAKA VIKAS GRAMEENA BANK KARNATAKA VIKAS GRAMEENA BANK, VANTAMUTTE BUILDING, CHIKKODI-BIJAPUR MAIN ROAD, CHIKKODI-591201, KARNATAKA KVGB0002321
KARNATAKA VIKAS GRAMEENA BANK KARNATAKA VIKAS GRAMEENA BANK, RAJASHREE BUILDING, CO ANNA LINGAOUDA PATIL, KHADALAKAT TQ CHIKKODI, DT BELGAUM, KARNATAKA KVGB0002324
KARNATAKA VIKAS GRAMEENA BANK KARNATAKA VIKAS GRAMEENA BANK, CO BEERAPPA SIDAPPA BANNE, SHIRGAON, TQ CHIKKODI, DT BELGAUM, KARNATAKA KVGB0002325
STATE BANK OF INDIA SOMWARPETH, CHIKODI-541201 SBIN0000256
STATE BANK OF INDIA NIPANI MAHALINGPUR ROAD, DISTT. BELGAUM, KARNATAKA 591 201 SBIN0001327
STATE BANK OF INDIA NEAR BUS STAND, SHAMANEWADI, CHIKODI, BELGAUM DISTRICT, KARNATAKA 591214 SBIN0013288
STATE BANK OF INDIA B K COLLEGE ROAD CHIKKODI CHIKKODI TALUK BELGAUM DIST KARNATAKA SBIN0040820
SYNDICATE BANK B K COLLEGE CAMPUS,COLLEGE ROAD,CHIKODI,,BELGAUM ,591 201 SYNB0000558
SYNDICATE BANK HOUSE NO 1944 PKPSS LTD EXAMBA NO 1 VILLAGE EXAMBA CHIKODI TALUK BELAGAVI DIST KARNATAKA INDIA 591244 SYNB0000587
SYNDICATE BANK GRAM DEVATA BANGALI BABA URUS CMT.GPC NO.836 GROUND FLOOR, VILL KARADAGA TQ CHIKODI BELAGAVI KARNATAKA INDIA 591263 SYNB0000592
UNION BANK OF INDIA 93839, GURUWAR PET, CHIKODI, DIST. BELGAUM, KARNATAKA, PIN – 591 201 UBIN0537471
AXIS BANK NO. 5253, INDIRANAGAR N M ROAD, CHIKODI DIST. BELGAUM, KARNATAKA PIN 591201 UTIB0000847
AXIS BANK 944, 945, 1ST FLOOR, GURUWARPETH, CHIKODI 591201 UTIB0SSMUCB

FAQ’s About Car Loan Chikodi

✅ 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.

✅ What options do I have for Repaying my Car Loan?

Standing Instruction (SI), Electronic Clearing Service (ECS), and Post-Dated Cheques are three options for repaying your loan (PDCs). It is usually advised that you return your loan using the first two options because they are speedier and have a lower risk of error, which is not the case with PDCs.

✅ Is a Guarantor required for a Car Loan?

To get a car loan, most lenders will not ask for a guarantor. If your income falls below the required minimum, lenders may want you to offer a guarantee or co-applicant to demonstrate that you will be able to repay the loan.

✅ Where can I get an Interest Calculator for a Car Loan?

You can use the EMI calculator on the Dialabank website or the website of the lending bank. To calculate the EMIs, enter various interest rates. The interest rate can be obtained by filling out an application for a loan, which will require you to provide basic information such as your salary, company, and work experience, depending on which interest rates will be presented.