Car Loan Ferozepur

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Car Loan Ferozepur

Best Banks for Car Loan in Ferozepur

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 Ferozepur Features

car loan ferozepur

Are you searching for a car loan? If yes, then your wait is over as we at Dialabank brings you amazing offers for a Car Loan in Ferozepur. We provide the lowest interest rate for car loans Ferozepur, which you won’t find anywhere else.

We offer instant Car loan for both Self-employed and salaried people. We offer car loans on new as well as used cars.

A car loan is a financial help provided by banks and NBFC’s to fulfill your dream of having your own car. They offer necessary funding for buying a car which can be 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 range from bank to bank. One can pay for the vehicle in easy installments.

Car Loan Ferozepur Interest Rates

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

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

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Car Loan Ferozepur Documents Required

Documents required for car loan are as followed:

For Salaried Individuals:

  1. Proof of Specification: Passport copy, PAN Card, Voters ID card, Driving License
  2. Income Proof: Latest 3-month salary slip with form 16
  3. Residence Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Bank Statement: Last 6 months.

For Self Employed Individuals:

  1. Specification Proof: Passport copy, PAN Card, Voters ID card, Driving License
  2. Income Proof: Latest ITR
  3. Address Proof(anyone): Ration card/ Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Bank Statement: Last 6 months.

Car Loan Ferozepur Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Applicants

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: 1 year in current employment and a minimum of 2 years of employment
  4. Minimum Annual Income: Rs.100000 net annual income

For Self-Employed Applicants

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: At least 3 years in business
  4. Minimum Annual Income: Net profit Rs. 60000 per annum for standard cars and Rs.100000 per annum for mid-sized and premium cars

Car Loan for Major Car Manufacturers in Ferozepur

TABLE WILL APPEAR

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Processing Fees/ Prepayment Charges on Car Loan in Ferozepur

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 Ferozepur

A CIBIL score of 750 and above is taken into consideration to be very good and it attracts a lower interest rate for car loans in Ferozepur. However, a CIBIL score between 650 to 750 could be taken if you have a good income but a bit higher rate of interest on car loan will be offered in that case. If you have defaulted in your CIBIL score is very low, then your application might be refused.

Most institutions prefer to give loans only with a minimum CIBIL score of 750. The institutions don’t just look at the overall score but also check out for the detailed behavior on the previous loans taken. This involves details on the type of loan taken and the loan amount you have borrowed. Any late payments for previous loans can create a barrier to your availing a fresh car loan.

Check your CIBIL score in your credit report for more information on the score.

Car Loan Ferozepur Contact Number

Call us at 9878981166 to get on car loans in Ferozepur and exclusive offers on car loans.

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Pre Calculated EMI Table for Car Loan Ferozepur

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 Ferozepur

About Ferozepur

Firozpur also called Ferozepur, is a city on the banks of the Sutlej River in Firozpur District, Punjab, India. It was founded by Sultan Firoz Shah Tughluq (1351–88), a ruler of the Tughluq dynasty, who reigned over the Sultanate of Delhi from 1351 to 1388. 

After the Partition of India in 1947, it became a border town on the Indo-Pakistani border with memorials of India’s freedom fighters. 

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