Best Banks for Car Loan in Coonoor
⍟ Loan Approval in 30 Minutes A car loan is financial help provided by banks and NBFC’s to fulfill your dream of having your own car. They provide the funding necessary for purchasing a car which can be on Ex-Showroom Price or On-Road Price of the car. A car loan is a secured loan and has easy repayment options. The loan amount is offered on Interest charges which vary from bank to bank. One can pay for the vehicle in easy installments. The car loan eligibility requirements are as follows in Coonoor:
7.35% per annum Documents required for car loan are as follows: The interest rates on vehicle loans offered by different lenders in Coonoor may vary, but they are all reasonable and competitive. If you want to get a car loan in Coonoor with the lowest interest rate, follow the steps below: Many big banks and NBFCs, including HDFC, Private, and SBI, offer vehicle loans in Coonoor. 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. TABLE WILL APPEAR CIBIL score reflects your credit history in the past as well as your defaults in repayment of your previous loans. A good credit score is considered as 750 and above as most financial institutions have the requirement of a high credit score. Every bank and NBFC has different criteria for a minimum CIBIL score that they require to process your loan. A CIBIL score lower than 750 can attract a higher rate of interest. A very low CIBIL score may lead to rejection of your loan as it is the first thing a bank tracks before processing your loan. To get a car loan in Coonoor, you can contact us on 9878981166. Coonoor is a hill station in the state of Tamil Nadu. It is located at an elevation of 1850m above sea level. It is famous for its tea estates. Car loans can be used to buy various passenger vehicles such as 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. Yes, if you have a strong payment history with your current lender, other lenders will be okay with granting you a loan on your current vehicle. Standing Instruction (SI), Electronic Clearing Service (ECS), and Post-Dated Cheques are three options that you have for repaying your loan (PDCs). It is generally 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. To get a car loan, most lenders do 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. You can use the EMI calculator on the Dialabank website or the one available on the website of the lending bank. To calculate the EMIs, enter the various interest rates. The interest rate can be obtained by filling out an application for the loan, which will require you to provide some basic information such as your salary, company, and work experience, depending on which interest rates will be presented.
Car Loan Coonoor Features
⍟ 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 Coonoor Eligibility Criteria
Salaried Individual
Net Monthly Income – Minimum ₹ 20,000
Employment Duration – 1-year minimum
Income Eligibility – Based on Form 16 and salary slip
Self-Employed Individuals
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)
Employment Duration – 3 years minimum
The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
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
Car Loan Coonoor EMI Calculator
Car Loan Coonoor Fees & Charges
Charges
New Car Loan
Used Car Loan
Interest Rate
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
Car Loan Coonoor Fees and Charges : Leading Banks – Mar 28 2024
Bank
Processing Fee
HDFC Bank Car Loan
(1999 - 4999) + Tax
Axis Bank Car Loan
1 % to 2.50%
Nil
Private Bank Car Loan
0.25% to 1.50%
SBI Car Loan
500/- to 0.50%
Nil
Kotak Car Loan
1% to 2%
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 Coonoor Documents Required
Salaried Individual
Category
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)
Birth Certificate
High School Marksheet
Driving Licence
Signature Proof(Any 1)
Bankers Verification
Passport
Income Proof
Bank Statement
Employment Continuity Proof
ITR of Form no. 16
Salary Slip mentioned with joining date
Letter of Appointment
Self-Employed Individuals
Category
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)
Bankers Verification
Passport
Bank Statement
Employment Continuity Proof
Shop & Establishment Act Certificate
Shop & Establishment Act Certificate
Sales Tax or VAT Certificate
Business Proof
Telephone Bill/Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
Category
Identity Proof (Any 1)
Driving Licence
PAN Card
Aadhar Card
Passport
Address Proof (Any 1)
Aadhar Card
Driving License
Voter ID
Income Proof
P&L Account
ITR for the previous 2 years
Bank Statement
Last 6 month
Business Continuity Proof
Audited Balance Sheet
TAX registration Certificate
Current Account Statement
Additional documents
2. Private Limited/Limited Companies
Category
Identity Proof
Copy of Incorporation
Address Proof (Any 1)
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
Sales Tax Certificate
Income Proof
P&L Account and ITR for the previous 2 years
Bank Statement
Previous 6 Months
Business Continuity Proof
ITR of the Company of the past 2 years
Audited Balance Sheet
Shop & Establishment Act Certificate
Additional documents
Board Resolution
PAN Card
Certificate of Commencement of Business for Ltd. Co.
How to Get the Best Car Loan Interest Rates in Coonoor
How to Apply for a Car Loan in Coonoor?
Which Bank in Coonoor Offers the Best Car Loans?
Car Loan for Major Car Manufacturers in Coonoor
Processing Fees & Prepayment Charges on Car Loan Coonoor
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 Coonoor
Car Loan Coonoor Contact Number
Pre Calculated EMI Table for Car Loan Coonoor
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 Coonoor
Car Loan Banks in Coonoor
BANK OF BARODA
57, GRAYS HILL ROAD, P.B.NO.22, COONOOR TAMIL NADU 643101
BARB0COONOO
BANK OF INDIA
MOUNT ROADPOST NO. 27,
BKID0008207
CENTRAL BANK OF INDIA
NO. 30 MOUNT ROAD, COONOOR -643102
CBIN0280906
CANARA BANK
PB NO9, 27 SALEM ROAD, COONOOR-643102,
CNRB0001247
CORPORATION BANK
88-89 SIMS PARK ROAD, GRAYS HILL, COONOOR 643101
CORP0000154
HDFC BANK
HDFC BANK LTD SHOP NO 34 AND 5 SREEJI COMPLEX BEDFORD CIRCLE COONOOR TAMIL NADU 643101
HDFC0004006
IDBI BANK
NO-92, GANDHIGIRI, GRAYS HILL, BEDFORD, COONOOR 643101
IBKL0001737
Private BANK LIMITED
891A9 GANDHIGIRI, GRAYS HILL, BEDFORD, COONOOR-643101
ICIC0000354
INDIAN BANK
P B NO 22 CASH BAZAAR COONOORNILGIRI DISTRICT643102
IDIB000C033
INDUSIND BANK
6, NANJAPPA RAO BUILDING, BEDFORD, COONOOR – 643101
INDB0000182
INDIAN OVERSEAS BANK
83ABY1 GRACE HILL SIMS PARK ROAD COONOR THE NILGIRIS 643101
IOBA0002677
INDIAN OVERSEAS BANK
SF NO 256 6 INR S NO 135 2 YEDAPALLI VILLAGE AND POST-COONOOR TK
IOBA0003757
KARNATAKA BANK LIMITED
K N M COMPOUND, OOTY ROAD, COONOOR, PIN – 643102
KARB0000154
KARUR VYSYA BANK
6 ALLAI SAIT COMPOUND, NEAR LAWLEY HOSPITAL MOUNT ROAD, COONOOR-643102
KVBL0001123
PUNJAB NATIONAL BANK
214. CD CHEMBERS, MOUNT ROAD
PUNB0437600
STATE BANK OF INDIA
COONOOR, NILGIRIS, TAMILNADU, PIN – 643102
SBIN0000828
STATE BANK OF INDIA
PBNO33CHURCHROAD, BEDFORDCIRCLE, COONOOR HPO643101 COONOOR ATSBTCOIN
SBIN0070389
SYNDICATE BANK
FIGURE OF 8 ROAD BEDFORD UPPER COONOORNILGIRIS DIST TAMIL NADU
SYNB0006234
TAMILNAD MERCANTILE BANK LIMITED
278, FIRST FLOOR, MOUNT ROAD, YMCA CORNER, MOUNT ROAD, COONOOR – 643 102
TMBL0000305
UNION BANK OF INDIA
14B, MOUNT ROAD, POST BOX NO. 24, UPPER COONOOR, DIST. NILGIRIS,TAMIL NADU, PIN – 643 101.
UBIN0533441
UCO BANK
19-B, ISSU COMPLEX, BEDFORD CIRCLE 643101
UCBA0001331
Ujjivan Small Finance Bank Limited
TS NO.24, BLOCK 20, WARD B, RS NO.1770 SUREY NO.(OLD ) F 149, MOUNT ROAD COONOOR 643102 NILGIRIS TAMIL NADU
UJVN0001612
UNITED BANK OF INDIA
77&78,MOUNT ROAD,DT-CCCNOOR
UTBI0COX828
AXIS BANK
SREEJI CHAMBERS MOUNT ROAD COONOOR
UTIB0003209
FAQ’s About Coonoor Car Loan
✅ What types of vehicles can be purchased with a Car Loan?
✅ Is it possible for me to acquire a loan on my Current Vehicle?
✅ What options do I have for repaying my Auto Loan?
✅ Is a guarantor a requirement for a Car Loan?
✅ Where can I get an Interest Calculator for a Car Loan?