Car Loan Duburi

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Car Loan Duburi

Best Banks for Car Loan in Duburi

Feature HDFC Bank ICICI Bank
Kotak Mahindra Bank
Interest Rate (p.a.) 7.35 % - 7.95 % 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


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Car Loan Duburi 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

Nowadays everyone wants to own a car. But that’s not possible for everyone due to weak financial conditions. But don’t worry. We Dialabank financial services help customers to compare, analyze and choose the best loan possible. So you have to apply for a car loan through Dialabank. If your CIBIL score is good, you will get a good rate of interest, and also, you will get high tenure for loan repayment.

All the banks and NBFCs are ready to provide car loans. You can get the loan amount for the Ex-showroom price, and also, if required, you will get a loan for an on-road price.

Car Loan Duburi


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Car Loan Duburi Eligibility Criteria

The car loan eligibility requirements are as follows in Duburi:

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 Duburi EMI Calculator

Car Loan Duburi 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 Duburi Fees and Charges : Leading Banks – May 25 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 Duburi Documents Required

Documents required for a 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 Duburi

The interest rate for a car loan depends from bank to bank and the profile of the applicant. But we provide your car loan with interesting and reasonably low interest rates.

The interest rates start with 8.60% p.a. and may vary on the loan amount.

  • Choose a shorter repayment term – Because the monthly EMI (equivalent monthly installment) is low, many vehicle loan applicants assume that longer repayment terms are better. Unfortunately, they don’t appear to realize that lenders see longer payback terms as a sign of a borrower’s poor repayment ability. Therefore they charge higher interest rates. Instead, consider a shorter payment time if you want to save money on your car loan.
  • Evaluate and compare the benefits provided by various lenders- If you want to get a good deal on a car loan, you should first examine and evaluate the different lenders’ features. This can assist you in determining which lenders offer the lowest interest rates and, as a result, which lender to choose.
  • Maintain a low debt-to-income ratio – The debt-to-income ratio is a calculation that lenders use to determine how much of an applicant’s income goes toward loan repayment. You have a higher chance of securing a car loan with a lower interest rate if your debt-to-income ratio is lower.
  • Maintain an excellent 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 applicants 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 bad, you’ll be able to take steps to improve it, and if your credit score is good, you’ll be able to approach lenders with trust.

How to Apply for a Car Loan in Duburi?

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

  • Visit Dialabank
  • Go to the loan section and select auto loan, followed by the car loan link.
  • The applicant will be directed to all the car loan details where they can choose their preferred city.
  • If you have any questions about the loan, you can call our relationship managers at 9878981166.
  • You will have to visit the bank in person to apply for a car loan, which may be inconvenient for you.


car loan

Which Bank in Duburi Offers the Best Car Loans?

Car loans are available from many large banks and NBFCs in Duburi, 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 soon as possible. Therefore, before applying for a car loan that fits all of your criteria, such as interest rates, it is usually a good idea to compare car loans from various lenders.

Car Loan for Major Car Manufacturers in Duburi

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Duburi

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 Duburi

Every financial institution has its criteria for the CIBIL score required for processing the Car Loan application in Duburi to minimize the risk of lending to the customer. Most institutions require a minimum score of CIBIL of 750 or above to process your loan application. Also, having a good CIBIL score helps to loans at a cheaper rate of interest.


car loan

Car Loan Duburi Contact Number

For more information regarding car loans in Duburi, you can call on 9878981166.


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Pre Calculated EMI Table for Car Loan Duburi

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


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About Duburi

Duburi village is located in Kalinganagar Tehsil of Jajapur district in Odisha, India.


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Car Loan Banks in Duburi

ANDHRA BANK PLOT NO 668 EXPRESS HIGHWAY SIDEATPO- DUBURI, KALING NAGAR JAJPUR ANDB0001411
BANK OF BARODA SHREE MANDIR MARKET AT DUBURI KALINGA JAJPUR DUBURI ORISSA 755026 BARB0DUBURI
DENA BANK VILL AND PO DUBURI, PS KALINGANAGAR DIST JAJPUR, ODHISHA, PIN 755026 BKDN0911396
CANARA BANK CANARA BANK,ATPO-BARAGADIA,KALINGA NAGAR,DUBURI,DIST-JAJPUR,ORISSA PIN-755026 CNRB0003364
IDBI BANK GURUSHAKTI MARKET COMPLEX, DUBURI CHHAK, DUBURI, DISTRICT- JAJPUR, ORISSA 755026 IBKL0000327
ICICI BANK LIMITED ICICI BANK LTD., NEAR KAPILESHWAR HIGH SCHOOL, AT-DUBURI, PS -KALINGANAGAR, DUBURI – 755026, JAJPUR DIST., ORISSA ICIC0002023
STATE BANK OF INDIA AT KALINGANAGAR, PO GOBARGHATI, DISTT. JAJPUR, ORISSA 755 026 SBIN0005757
SYNDICATE BANK GR FLOOR DUBURI CHHAK KALINGA NAGARDUBURI DIST JAJPUR ODISHA 755026 SYNB0008054
AXIS BANK AXIS BANK LTD GROUND FLOOR AT PODUBURIPSKALINGA NAGAR DUBURI 755026 UTIB0003026

FAQ’s About Duburi Car Loan

✅ Is it possible to negotiate interest rates?

Yes, car loan interest rates are not fixed. They are negotiable. If you are a long-term customer of a bank and have made on-time payments on past loans, they may consider revising your current interest rate.

How do I pay your EMIs? What is prepaying?

You can pay your EMIs with post-dated cheques or by having your bank debit your account every month using the ECS (electronic clearing system) option. Although part payments are not permitted on car loans, you can pre-pay the entire debt after 6 to 1 year. However, it would help if you double-checked this guideline with your bank. If you pay ahead of time, you will be charged a penalty of 2-4 per cent of the outstanding balance.

✅ Is the registration charge included in the auto loan?

Car loans do not include insurance or registration fees, which must pay at the time of purchase. Car insurance, required by law, must be acquired separately, as must all vehicle your car loan does not cover registration-related expenditures.

✅ Is it a good idea to pay off a car loan early?

Paying off the loan early may be a good way to avoid the long repayment period. However, it is not smart to proceed with the pre-closure if the penalty amount is significantly higher than the interest charges. In reality, pre-closing a car loan is unlikely to have a significant impact on your credit score.

✅ Is insurance required for a car loan?

Yes, everyone who finances a vehicle is required to carry full coverage car insurance for the duration of their loan. Any car with a balance due on loan is still technically held by the lender. To protect their investment, lenders need consumers to have full coverage car insurance.