Best Banks for Car Loan in Coimbatore
Car Loan Coimbatore Features
Now the dream of every common man of owning a luxury car will not be restricted by monetary constraints. Car Loans will help you finance your car at affordable rates and minimal documentation. No need to pay repeated visits to the banks. Apply for Car Loan online and get instant funds without any hassle.
This secured loan does not need any additional assets as collateral. The car you purchase through the loan acts as collateral itself. Moreover, if any individual wishes to buy a used or pre-owned car, they can do so by availing a used car loan. Car loans are a widely opted means of financing the car as almost all the major banks and NBFCs provide it with a flexible repayment structure.
Car Loan Coimbatore 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 |
| Private 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 Coimbatore Documents Required
Documents required for car loan are as followed:
For Salaried Individuals:
- Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: Latest 3-month salary slip with form 16
- Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
For Self Employed Individuals:
- Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: Latest Income Tax Return
- Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
Car Loan Coimbatore Eligibility Criteria
The car loan eligibility requirements are as followed in Coimbatore:
For Salaried Individuals:
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum employment: 1 year in the current place of work and 2 years of total employment.
- Minimum Annual Income: Rs 100000 net annual income.
For Self Employed Individuals:
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum employment: A minimum of 3 years in business.
- Minimum Annual Income: Net profit of Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars
How to Apply for Car Loan in Coimbatore?
Availing a car loan Coimbatore is an easy process with Dialabank. Just follow some steps to avail the best offers:
- Visit our website and click on the car loan option available on the menu. Fill in the details regarding the car type and your income. Our relationship manager will soon get in touch with you on your provided number.
- You may also contact our relationship managers on the number +919878981166 in case of any queries regarding the loan.
- For availing a car loan offline you will have to visit the branch personally, which might turn hectic for you. So we advise you to do it online!
Car Loan for Major Car Manufacturers in Coimbatore
TABLE WILL APPEARProcessing Fees & Prepayment Charges on Car Loan Coimbatore
Category
Details
Processing Charges
Prepayment
Preclosure
Stamp Duty
Cheque Bounce Chgs
Floating Rate of Interest
Not Applicable
Overdue EMI Interest
Amortisation Schedule Chgs
Rs 200 + GST
CIBIL Score Required for Car Loan in Coimbatore
CIBIL score plays an important role in the loan approval process. All the lending institutions consider CIBIL score as essential and should be above 800 for an applicant to be eligible for a car loan. However, this minimum score requirement varies from bank to bank.
Note that any pending dues or debts might create inconvenience in availing of a fresh car loan. Hence, it is advised that one must always keep a check and maintain their CIBIL score to avoid any problems.
Apply for a Car LoanCar Loan Coimbatore Contact Number
Dial us up at +919878981166 to get more information about car loans at Coimbatore and we will give you the best advice to help you fulfill your dream easily, quickly and efficiently.
Pre Calculated EMI Table for Car Loan Coimbatore
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
You can calculate your EMI here: Car Loan EMI Calculator
About Coimbatore
Earlier known as Kovai, Coimbatore is a city in the Indian state, Tamil Nadu. Gass Forest Museum has a huge collection of preserved animals and tree trunks. It is popular for its textile mills, educational institutions, and manufacturing goods. The city is the healthcare and manufacturing hub of Tamil Nadu and is well linked by road, railways, and air.
Special Note: Banks do not provide Car Loans to applicants with poor credit history, but one can fulfill their money requirement with Gold Loan easily.
Apply for a Car LoanCar Loan EMI Calculator
