Best Banks for Car Loan in Ernakulam
Car Loan Ernakulam Features
- Thinking of purchasing your first car? Facing a shortage of cash? No need to worry now. A car loan is an easiest and most convenient waydue to the largest to finance your car at an affordable rate of interest and require minimum hassle-free documentation and affordable car loan interest rates 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
HDFC Bank Car Loan
(1999 - 4999) + Tax
Axis Bank Car Loan
1 % to 2.50%
Nil
Private Bank Car Loan
0.25% to 1.50%
SBI Car Loan
500/- to 0.50%
Nil
Kotak Car Loan
1% to 2%
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 Ernakulam Documents Required
Documents required for car loan interest rates are as followed:
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
The eligibility criteria for car loan requirements are as followed in Ernakulam:
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 Apply for a Car Loan
Processing Fees & Prepayment Charges on Car Loan Ernakulam
Category
Details
Processing Charges
Prepayment
Preclosure
Stamp Duty
Cheque Bounce Chgs
Floating Rate of Interest
Not Applicable
Overdue EMI Interest
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
About Ernakulam
Yes, you have to use your credit history and previous arrangement with the prospective bank or any other lender in Ernakulam to negotiate the interest rate on your car loan. Regularly paying your past loans/credit cards EMI with your prospective bank or any other lender will help you get a car loan with a lower interest rate. A car loan can last anywhere between one to five years. The higher the EMI, the shorter your loan term, and the opposite is valid for longer car loan terms. Currently, only limited lenders are offering car loans on terms of up to seven years in Ernakulam. If you are unable to meet the lending institution’s eligibility standard, such as monthly salary, age, or credit score, a loan guarantor or co-borrower is required. You can even apply for a car loan of your own.
FAQs about Car Loan Ernakulam
✅ Can I get a loan to purchase a used car in Ernakulam?
✅ What is the typical tenure of a car loan in Ernakulam?
✅ Do I need a loan guarantor or co-borrower in Ernakulam?
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