Best Banks for Car Loan in Gangtok
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 Gangtok Features
The main features of a car loan in Gangtok are:
- The documentation process is quick and hassle-free
- Car loans are easily available through DialaBank
- Car loans are available at low-interest rates
- Almost all major banks and NBFCs offer car loans in Gangtok
Car Loan Gangtok Interest Rates
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
Apply for a Car LoanCar Loan Gangtok Documents Required
For Salaried Individuals:
- Proof of Identification: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: Latest 3-month salary slip with form 16
- Residence Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
For Self Employed Individuals:
- Identification Proof: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: Latest ITR
- Address Proof(anyone): Ration card/ Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
Car Loan Gangtok Eligibility Criteria
For Salaried Applicants
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum employment: 1 year in current employment and a minimum of 2 years of employment
- Minimum Annual Income: Rs.100000 net annual income
For Self-Employed Applicants
-
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum employment: At least 3 years in business
- 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 Gangtok
TABLE WILL APPEAR Apply for a Car LoanProcessing Fees / Prepayment Charges on Car Loan in Gangtok
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 Gangtok
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 Gangtok. 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. Thus, a CIBIL score is an important factor in a car loan.
Car Loan Gangtok Contact Number
In case of any queries regarding the car loan in Gangtok, you may contact the number 9878981166 or visit the website Dialabank for any sort of assistance.
Apply for a Car LoanPre Calculated EMI Table for Car Loan Gangtok
Car Loan EMI Calculator Gangtok
Other Car Loan Cities In Sikkim
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Table of Contents
- 1 Best Banks for Car Loan in Gangtok
- 2 Car Loan Gangtok Features
- 3 Car Loan Gangtok Interest Rates
- 4 Car Loan Gangtok Documents Required
- 5 Car Loan Gangtok Eligibility Criteria
- 6 Car Loan for Major Car Manufacturers in Gangtok
- 7 Processing Fees / Prepayment Charges on Car Loan in Gangtok
- 8 CIBIL Score Required for Car Loan in Gangtok
- 9 Car Loan Gangtok Contact Number
- 10 Pre Calculated EMI Table for Car Loan Gangtok
- 11 Car Loan EMI Calculator Gangtok