Car Loan Eluru

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Car Loan Eluru

Best Banks for Car Loan in Eluru

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

Car Loan Eluru Features

Car Loan EluruA car loan is a financial help provided by banks and NBFC’s to fulfill your dream of having your car. They provide necessary funding for purchasing your personal car which can be on Ex-Showroom Price or On-Road Price of the car. A Car loan is the 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 installments.

A car is a gift for a family that may not be possible for many people to afford, but still, there is a way to get a car with easy installment options, you can fulfill your desire to buy your dream car. nowadays a car is a necessity as well as a status symbol to be recognized as successful. many of the people just avoid purchasing a car as they lack finance. So don’t worry get a car loan and fulfill your desire to drive your own car

Car Loan Eluru Interest Rate

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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 Eluru Documents Required

Basic documents required for loan application are as follows:

For Salaried Employees

  1. 2 passport size photocopies are necessary.
  2. Proofs like PAN Card, Voters ID card, Driving License are required.
  3. For Salaried– Latest 3-month salary slip with form 16.
  4. Ration card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy is required to apply for the loan.
  5.  The last 6 months’ bank statement is needed.

For Self Employed

  1. 2 passport size photocopies are necessary.
  2. Proofs like PAN Card, Voters ID card, Driving License are required.
  3. For Self Employed- Latest Income tax returns required.
  4. Ration card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy is required to apply for the loan.
  5.  The last 6 months’ bank statement is needed.

Car Loan Eluru Eligibility Criteria

The car loan eligibility criteria differs slightly for a salaried individual and  a self-employed one so here are the criteria that one needs to meet.

Salaried Individuals:

  1. The age should be a minimum of 21years.
  2. He/she should not be more than 60 years to avail a car loan.
  3. A CIBIL score of 750 and above is a must.
  4. He/she should have been working for a minimum of 1 year in current employment and a previous minimum of 2 years of employment
  5. He/she should be earning a minimum of Rs 100000 per year

Self-employed Individuals:

  1. The age should be between 30-65 years to avail of a car loan.
  2. A CIBIL of 750 and above is required.
  3. At least 3 years of working business.
  4. A minimum of Rs. 60000 p.a net profits for standard cars and Rs.100000 p.a. for mid-sized and premium cars

Car Loan for Major Car Manufacturers in Eluru

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Processing Fees & Prepayment Charges on Car Loan Eluru

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

CIBIL Score Required for Car Loan in Eluru

CIBIL score plays an important role in deciding the approval of a loan. The CIBIL score provides a clear picture of credit history and any outstanding dues standing against the applicant. The credit history is necessary to disburse the loan amount after checking the eligible CIBIL score. Normally, CIBIL scores 750 or above are considered as good by many leading banks.

Car Loan Eluru Contact Number

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Apply online with Dialabank and avail the best offers on a car loan with instant approval and extra benefits. or you can make a call on this number 9878981166

Pre Calculated EMI Table for Car Loan Eluru

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 Eluru

Eluru is a city or place and the district in the West Godavari district in the Indian state of Andhra Pradesh. It is one of the fourteen municipal corporations in the state and the Mandal headquarters of Eluru Mandal in the Eluru revenue division. The city is adjoining the Tammileru river

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

Car Loan EMI Calculator

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