Car Loan Ernakulam

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Rates as low as 8.50%*
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Best Banks for Car Loan in Ernakulam

Feature
HDFC Bank
ICICI Bank
Kotak Mahindra Bank
Interest Rate
8% - 8.4 %
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 Ernakulam Features

car loan ernakulamThinking of purchasing your first car? Facing a shortage of cash? No need to worry now. A car loan is an easiest and most convenient way to finance your car at an affordable rate of interest and require minimum hassle-free documentation. The eligibility criteria aren’t also stringent as compared to the other loans in the market. If an individual has a stable source of income and fulfills the requirement of necessary documents, then the banks and NBFCs provide car loans easily in Ernakulam without any hassle. Just visit our website and get the best offers on car loans throughout the country.

Car Loan Ernakulam Interest Rate

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
1%
Nil
Andhra Bank Car Loan
Nil
Nil

 

To check Personal Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates

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Car Loan Ernakulam Documents Required

For salaried:

  • 2 recent passport size colored photographs
  • Identity Proof: in the form of Aadhar Card/ Driving License/ Passport Copy, etc.
  • Address Proof: in the form of Water Bill/ Telephone bill/ Voter ID/ Passport Copy
  • Income Proof: Previous 3 months bank statements and salary slips for a salaried individual are required

For self-employed:

  • 2 recent passport size colored photographs
  • Identity Proof: in the form of Aadhar Card/ Driving License/ Passport Copy, etc.
  • Address Proof: in the form of Water Bill/ Telephone bill/ Voter ID/ Passport Copy
  • Income Proof:  recent ITR files for a self-employed individual are required

Car Loan Ernakulam Eligibility Criteria

For salaried:

  • The age limit for a car loan in Ernakulam is 21 to 65 years
  •  An employed individual must have a salary of Rs 25000 and above.
  • A salaried employee must be working in the current organization for a minimum of a year.

For self-employed:

  • The age limit for a car loan in Fatehpur is 21 to 65 years
  •  An employed individual must have a salary of Rs 25000 and above.
  • A Self-employed individual must have an operating business from the last 3 years.

Car Loan for Major Car Manufacturers in Ernakulam

TABLE WILL APPEAR

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Processing Fees & Prepayment Charges on Car Loan Ernakulam

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 Ernakulam

CIBIL score is one of the most important criteria based on which the banks and NBFCs approve your car loan. The minimum requirement of a CIBIL score for availing a car loan in Ernakulam is different for every lending institution. Mostly, a score of 750 and above makes getting a loan easier as it is considered a good credit score.

It is also important that one should clear all the pending dues and debts of the previously held loans in order to maintain a good credit score. Default in your credit score will create a hindrance for any future loan process.

Car Loan Ernakulam Contact Number

To get an instant car loan in Ernakulam you can visit DialaBank or call on 9878981166 to get personalized assistance.

Pre Calculated EMI Table for Car Loan Ernakulam

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 EMI Calculator

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