Car Loan East Kameng

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Car Loan East Kameng

Best Banks for Car Loan in East Kameng

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 East Kameng 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 East Kameng

Having a dream of purchasing your own car? But don’t have enough money? Don’t worry. Here is the best car loan for you. We Dialabank financial services, which helps customers compare, analyze and choose the best possible loans.

A car loan is financial help provided by banks to fulfil your dream of having your own car. They provide necessary funding for purchasing a car on Ex-Showroom Price or On-Road Price of the car. A car loan is a secured loan with 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 instalments.

Car Loan East Kameng


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Car Loan East Kameng Eligibility Criteria

The car loan eligibility requirements are as follows in East Kameng:

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 East Kameng EMI Calculator

Car Loan East Kameng 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 East Kameng Fees and Charges: Leading Banks – May 26 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


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Car Loan East Kameng 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 East Kameng

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

  • Choose a shorter repayment term -Because the monthly EMI (equivalent monthly installment) is low, many car loan applicants assume that longer repayment terms are better. Unfortunately, they don’t appear to realise that lenders see longer payback terms as a sign of a borrower’s low repayment ability; therefore, they charge higher interest rates. Consider a shorter payment time if you want to save money on your car loan.
  • Research and compare the perks offered by different 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 select.
  • Maintain a modest debt-to-income ratio – The debt-to-income ratio calculates how much of an applicant’s income goes toward loan repayment, and lenders use it to determine interest rates. So you have a higher chance of securing a car loan with a lower interest rate if your debt-to-income ratio is lower.
  • Maintain a good credit score — If you have an excellent credit score, lenders will be happy to provide you with a car loan with lower interest rates. Lenders consider a credit score of 750 or higher to be good. Unfortunately, many lenders will make auto loans to people with bad credit but at a higher interest rate. To ensure you have, visit score, check your credit scores regularly with Dialabank’s “Free Credit Score” service. This enables you to take corrective action to improve your credit score if it is low, and it enables you to approach lenders with confidence if your credit score is good.

How to Apply for a Car Loan in East Kameng?

Applying for a car loan is a simple and easy process. The best way to apply for a car loan is by applying online.

    1. Apply online on Dialabank
    2. Select Car Loans on the homepage.
    3. Fill an online application form stating all the personal and professional details.
    4. Please provide your current contact number so that our executives can get in touch with you for further assistance. In addition, if you have any questions about the loan, you can call our relationship managers at 9878981166.
    5. You will have to visit the bank in person; they can easily pay for a car loan, which may be inconvenient.


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Which Bank in East Kameng Offers the Best Car Loans?

Many big banks and NBFCs, including HDFC, ICICI, and SBI, offer vehicle loans in East Kameng. The finest lender can provide you with the loan amount need at a reasonable interest rate and can return the loan amount quickly as feasible. Therefore, it is always a good idea 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 East Kameng

TABLE WILL APPEAR

Processing Fees /Prepayment Charges on Car Loan East Kameng

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 East Kameng

CIBIL Score is a three-digit numeric summary of your credit history. The score is derived using the credit history found in the CIBIL Report (also known as CIR, i.e. Credit Information Report). A CIR is an individual’s credit payment history across loan types and credit institutions over a period of time. A CIR does not contain details of your savings, investments or fixed deposits. For example, a 750 and above CIBIL score must get a car loan in East Kameng.


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Car Loan East Kameng Contact Number

To get an instant car loan, you can visit our website or call on 9878981166 to get personalized assistance. Our executives are well trained and will assist you in the best way to provide you with a deal most suited for you.


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Pre Calculated EMI Table for Car Loan East Kameng

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 East Kameng

East Kameng district is one of the 24 districts of Arunachal Pradesh state in northeastern India. It shares an international border with Tibet in the north and a state border with Assam and district borders with West Kameng, East Kameng, Papumpare and Kurung Kumey, bifurcated from East Kameng district 1 December 2018.

According to the 2011 census, East Kameng district has a population of 78,690.

Special Note: Banks do not provide Car Loans to bad credit holders, but they can easily fulfil their money requirement with Gold Loan.


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FAQ’s About East Kameng Car Loan

✅ Is the registration charge covered in a car loan?

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

✅ What is the minimum amount for a car down payment?

When you take out a loan, some banks will require you to pay the dealer a percentage of the car’s worth (typically 5% to 15%) before releasing the loan.

✅ Do I require insurance to obtain a car loan?

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

✅ Is it necessary to have a guarantor for a car loan?

Most lenders will not require a guarantor to obtain a car loan. However, if your income falls below the required minimum, lenders may want a co-applicant or a guarantee to show that you will be able to repay the loan.

✅ What kind of vehicles can I get a car loan for?

Car loans can be used to purchase various vehicles, including SUVs, MUVs, and other models. In addition, one can use it to purchase a vehicle for business use. Some lenders may also lend money for trucks, tractors, and construction equipment.