Car Loan Diu

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Car Loan Diu

Best Banks for Car Loan in Diu


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Car Loan Diu 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

If you’re looking for a car loan in Diu, you’ve come to the right place. Compare interest rates, processing costs, and tenure for free, and even get approval or estimates within 30 minutes. Learn how to improve your Diu car loan eligibility as well as the list of top banks that offer auto loans in Diu and their unique features. To make an informed decision, learn which banks offer 100% financing and have the lowest interest rates.

Car Loan Diu


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Car Loan Diu Eligibility Criteria

The car loan eligibility requirements are as follows in Diu:

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 Diu EMI Calculator

Car Loan Diu 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 Diu 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


car loan

Car Loan Diu 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 Diu

Various lenders in Diu have different interest rates on auto loans, but they are all reasonable and competitive. Follow the steps below to secure a car loan in Diu with the lowest interest rate:

  • Choose a shorter repayment period – Many car loan applicants assume that longer repayment terms are preferable because the EMI (equated monthly installment) is low. Unfortunately, they don’t seem to realise that lenders see longer repayment terms as a sign of a borrower’s poor repayment ability; therefore, they charge higher interest rates; if you want to save money on your car loan, consider shorter payments period.
  • Research and compare the benefits provided by various lenders – If you want to secure a good deal on an auto loan, you must first review and discuss the benefits provided by other lenders. This can assist you in determining which lenders offer the lowest interest rates and, as a result, which lender to select.
  • Maintain the debt-to-income ratio low – The debt-to-income ratio is a calculation that lenders use to determine how much of an applicant’s income goes toward loan repayment. As a result, if your debt-to-income ratio is lower, you have a higher chance of qualifying for a reduced interest auto loan.
  • Maintain a good credit score – If you have a good credit score, lenders will be delighted to provide you with a car loan with lower interest rates. A credit score of 750 or more is considered healthy by lenders. Unfortunately, many lenders may provide negative credit borrowers auto loans, but they will charge a higher interest rate. To ensure you have a decent credit score, check your credit scores regularly using Dialabank’s “Free Credit Score” service. If your credit score is poor, you’ll be able to take steps to improve it, and if your credit score is strong, you’ll be able to approach lenders with confidence.

How to Apply for a Car Loan in Diu?

For availing of a car loan offline with Dialabank, you will have to visit the branch personally, which might turn hectic for you. So we decided to come to you online instead! Availing for a car loan from Diu is an easy process with Dialabank. All you have to do is follow some steps to avail the best offers:

  • Visit our website
  • Click on the car loan option available in the menu.
  • Fill in the details regarding the 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.


car loan

Which Bank in Diu Offers the Best Car Loans?

Vehicle loans are available from many large banks and NBFCs in Diu, including HDFC, ICICI, and SBI. The best lender will be able to give you the loan amount you require at a reasonable interest rate and will be able to release the funds as quickly as possible. As a result, it’s always a good idea to compare around for car loans from various lenders before deciding on one that fulfils all of your requirements, including interest rates.

Car Loan for Major Car Manufacturers in Diu

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Diu

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 Diu

The CIBIL score is referred to as what defines your ability to pay off your credits. A higher Credit score means good credit history and makes your car loan application process smooth and easy; on the other hand, a lower score might charge you a higher interest rate. Mostly, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Diu. However, this score may again vary from bank to bank. Thus, a CIBIL score is an important factor in a car loan.


car loan

Car Loan Diu Contact Number

In case of any queries regarding the car loan in Diu, you may dial up the number 9878981166 for any assistance!


car loan

Pre Calculated EMI Table for Car Loan Diu

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 Diu

Diu is a coastal town at the eastern end of Diu Island and is connected to Gujarat by a bridge. Its places of interest attraction include the Diu Fort, a 16th-century Portuguese citadel featuring a lighthouse and cannons; the St. Paul’s Church, built in elaborate baroque style and the St. Thomas Church, now home to the Diu Museum. Its population is around 52000.


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Car Loan Banks in Diu

DENA BANK GROUND FLOOR, GHODIYA STREET, CHARPITH ROAD, DIU UT OF DAMAN AND DIU 362520 BKDN0311410
BANK OF INDIA MARKET ROADPOST BAG NO. 2, BKID0003397
CENTRAL BANK OF INDIA MAIN MARKET VIA UNA DIU (U.T) CBIN0280728
HDFC BANK WANAKBARA MAIN ROAD PLOT NO. 1-818 3 NEAR GALAXY HOTEL, B-H SPORTS COMPL DIU UNION TERRITORY OF INDIA (UT) 362520 HDFC0002468
ICICI BANK LIMITED ICICI BANK LTD 38, GANDHI HOUSE, BUNDER CHOWK DIU 362520 GUJARAT ICIC0001350
STATE BANK OF INDIA OPP CIVIL ADMINISTRATORS OFFICE, P BNO1, BUNDER ROAD DIU 362520 SBIN0060114
UCO BANK ANAND HOUSE, MARUTI NAGAR, JETHIBHAI MARG, NEAR LALJIBHAI PHIR DARGHA, DIU UNION TERRITO UCBA0003141
AXIS BANK GROUND FLOOR JIVA BHAI SUPER MARKET, NR GOLDMOON BAR, BUNDER ROAD-DIU – 362520 UTIB0001599
YES BANK GANDHI BHAVAN, DIU – 362520 YESB0GSCB20
YES BANK GHOGLA, DIU – 362540 YESB0GSCB22
YES BANK FUDAM, DIU – 362 520 YESB0GSCB31

FAQ’s About Diu Car Loan

✅ What kinds of vehicles can I get a Car Loan for?

Car loans can be used to purchase various passenger vehicles, such as SUVs (Sport Utility Vehicles), MUVs (Multi Utility Vehicles), and other models. A car loan can also be used to purchase a vehicle for commercial purposes. Some lenders also offer loans for trucks, tractors, and construction equipment.

✅ Is a loan on my current vehicle possible?

Yes, many lenders will issue you a loan on your present vehicle if you have a good payment history with your current lender.

✅ What are my alternatives for repaying my Auto Loan?

Three possibilities for repaying your loan are Standing Instruction (SI), Electronic Clearing Service (ECS), and Post-Dated Cheques (PDCs). The first two choices are normally recommended for returning your loan because they are faster and have a lower risk of error, which is not the case with PDCs.

✅ Is a car loan guarantor required?

The majority of lenders will not require a guarantor. However, if your income falls below the statutory minimum, lenders may want a co-applicant or a guarantee to show that you will be able to repay the loan.

✅ Where can I get a car loan interest calculator?

You can use Dialabank websites or the leading websites. Then, enter several interest rates to calculate the EMIs. The interest rate can be found by completing a loan application, which will ask you to give basic information such as your salary, company, and work experience, depending on which interest rates are shown.