Car Loan Gandhinagar

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Car Loan Gandhinagar

Best Banks for Car Loan in Gandhinagar

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 Gandhinagar 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 Gandhinagar

If you’re looking for a car loan in Gandhinagar, you’ve come to the right place. Compare interest rates, processing costs, and tenures for free, and even get approval or estimates within 30 minutes. Learn how to improve your Gandhinagar car loan eligibility, as well as the list of top banks that offer auto loans in Gandhinagar and their unique features. To make an informed decision, learn which banks offer 100% financing and have the lowest interest rates.

Car Loan Gandhinagar


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Car Loan Gandhinagar Eligibility Criteria

The car loan eligibility requirements are as follows in Gandhinagar:

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 Gandhinagar EMI Calculator

Car Loan Gandhinagar 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 Gandhinagar Fees and Charges: Leading Banks – Oct 28 2021

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 Gandhinagar 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 Gandhinagar

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

  • Choose a shorter repayment term – Many car loan applicants believe that lengthier repayment terms are better because the monthly EMI (equated monthly instalment) is low. They don’t seem aware that lenders view lengthier payback terms as an indication of a borrower’s low repayment capabilities, so they charge higher interest rates. So, if you want to save money on your car loan, consider a shorter payments period.
  • Research and compare the perks offered by different lenders – If you want to get a decent deal on an auto loan, you must first explore and compare the benefits offered by different lenders. This can help you figure out which lenders have the best interest rates and, as a result, which lender to choose.
  • Maintain a modest debt-to-income ratio – The debt-to-income ratio measures how much of an applicant’s income goes toward loan repayment, and lenders take this into account when setting interest rates. If your debt-to-income ratio is lower, you have a better chance of getting a car loan with a lower interest rate.
  • Maintain a good credit score — Lenders will be pleased to offer you a car loan with cheaper interest rates if you have a good credit score. Lenders consider a credit score of above 750 to be healthy. Many lenders may give auto loans to people with bad credit, but they will demand a higher interest rate. Check your credit scores regularly with Dialabank “Free Credit Score” service to guarantee you have a good credit score. This will allow you to take remedial action to enhance your credit score if it is low, and it will allow you to approach lenders with confidence if your credit score is good.

How to Apply for a Car Loan in Gandhinagar?

Availing of a car loan in Gandhinagar is an easy process with DialaBank. Follow the following steps to avail of the best offers:

  • Visit our website Dialabank.
  • Click on the car loan option available in the menu
  • Fill in the details regarding the car type and your income
  • Wait as our relationship manager will soon get in touch with you on your provided number.
  • You may also contact our relationship managers on 9878981166 in case of any queries regarding the loan.
  • For availing of a car loan offline, you will have to visit the branch personally, which might turn to be hectic for you.


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Which Bank in Gandhinagar Offers the Best Car Loans?

Many big banks and NBFCs, including HDFC, ICICI, and SBI, offer vehicle loans in Gandhinagar. The finest lender is one that can provide you with the loan amount you need at a reasonable interest rate and can distribute the funds as quickly as feasible. 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 Gandhinagar

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Gandhinagar

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 Gandhinagar

The CIBIL score is referred to as what defines your ability to pay off your credits. A higher Credit score means good credit history and makes your car loan application process smooth and easy to be processed. Mostly, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Gandhinagar.

This score may again vary from bank to bank. In case of a low CIBIL score than the required value, you will be required to pay a high rate interest rate on the loan amount, while if your CIBIL score is good, then you may have to pay a low rate of interest. Thus, a CIBIL score is an important factor in a car loan.


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Car Loan Gandhinagar Contact Number

In case of any queries regarding the car loan in Gandhinagar, you may contact on the number 9878981166 for any assistance.


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Pre Calculated EMI Table for Car Loan Gandhinagar

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 Gandhinagar

Located in the western Indian state of Gujarat, Gandhinagar is a well-established city. The Akshardham is one of the massive Hindu temples with ornate carvings and sculpted pillars, plus a water show in its beautiful gardens. Dandi Kutir museum traces the life of the great Mahatma Gandhi, who was born in Gujarat. In the south, along the Sabarmati River, the Indroda Nature Park has a zoo and botanical gardens, with extraordinary dinosaurs and fossil parks.


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FAQ’s About Gandhinagar Car Loan

✅ What types of vehicles can I purchase with a car loan?

Car loans can be used to buy various passenger vehicles, including SUVs (Sport Utility Vehicles), MUVs (Multi Utility Vehicles), and other types of vehicles. You can also get a car loan to acquire a vehicle for business purposes. Truck, tractor, and construction equipment loans are also available from some lenders.

✅ Is it possible to acquire a loan on my current vehicle?

Yes, if you have a strong payment history with your current lender, many lenders will grant you a loan on your current vehicle.

✅ What options do I have for repaying my auto loan?

Standing Instruction (SI), Electronic Clearing Service (ECS), and Post-Dated Cheques are three options for repaying your loan (PDCs). It is usually advised that you return your loan using the first two options because they are speedier and have a lower risk of error, which is not the case with PDCs.

✅ Is a car loan forgiven in case the applicant expires?

No, the death of the person who availed of the loan doesn’t mean that the loan will be waived off.

✅ Where can I get an interest calculator for a car loan?

You can use the EMI calculator on the Dialabank website or the website of the lending bank. To calculate the EMIs, enter various interest rates. The interest rate can be obtained by filling out an application for a loan, which will require you to provide basic information such as your salary, company, and work experience, depending on which interest rates will be presented.