Car Loan Guntur

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Car Loan Guntur

Major Car Loan Providers in Guntur

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 Guntur Features

Having your own car has become a need in this era. Everybody is not able to afford it due to a shortage of funds. To fulfill this, we act as a mediator by providing you loans for your car to fulfill your needs and let you own the car of your choice.

You might have come across many loan providers in Guntur and you would be facing trouble in taking time to go to their branches and offices to get yourself a car loan. We have fixed that for you as we bring all the major financial institutions and banks at one place on our website. You can just apply with us for a car loan and we will provide you with the best car loan at the lowest rate of interest.

Car loan Guntur

What is a car loan?

A car loan is a financial help provided by banks and NBFC’s to fulfill your dream of having your own car. They provide necessary funding for purchasing a car which can be on Ex-Showroom Price or On-Road Price of the car. Car Loan is a secured loan with easy repayment options. The loan amount is offered on Interest charges which vary from bank to bank. One can pay for the vehicle in easy installments.

Car Loan Guntur Interest Rate

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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

Car Loan Guntur Documents Required

Documents required for car loan are as followed:

For Salaried Individuals:

  1. Identity Proof: Passport copy, Driving License, PAN Card, Electoral Photo ID card can be used as ID proof.
  2. Income Proof: Last three months’ or last six months’ salary slip along with Income Tax Return.
  3. Address Proof: Driving License, Electricity Bill, PAN Card, Electoral Photo ID Card, and Life Insurance Policy are valid address proofs.
  4. Bank Statement for the preceding six months.

For Self-employed individuals:

  1. Identity Proof: Passport copy, Driving License, Electoral Photo ID card or PAN Card can be used as ID proof.
  2. Income Proof: Income Tax Return.
  3. Address Proof: Driving License, Electricity Bill, PAN Card, Electoral Photo ID Card, and Life Insurance Policy are valid address proofs.
  4. Bank Statement for the preceding six months.

Car Loan Guntur Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried applicants:

  1. Minimum age should be 21 years,
  2. Maximum age the time of loan maturity should be 65 years.
  3. The applicant should have served 1 year in current employment and total work experience of 2 years.
  4. The minimum annual income needs to be at 100000 Indian rupees as a net annual income.

For Self-Employed Applicants:

  1. Minimum age should be 21 years,
  2. Maximum age the time of loan maturity should be 65 years.
  3. The applicant should be active for at least 3 years in business.
  4. The net profit required is Rs 60000 per annum for standard cars and Rs 100000 per annum for mid-sized premium cars

How to Apply for Car Loan in Guntur?

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Applying for a car loan with Dialabank is an easy process. Follow the steps to apply for a car loan:

  • For Car Loan Guntur, visit Dialabank.
  • Fill the form on the Car Loan page.
  • Submit it.
  • Once you’re done, Car Loan Durgapur agents will contact you for more assistance.

Car Loan for major car manufacturers in Guntur

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Guntur

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 Guntur

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CIBIL score indicates your credit history in the past as well as your defaults in repayment of your previous loans. A good credit score is acknowledged as 750 and above as most of the financial companies ask for a high credit score. Every bank and NBFC has distinctive criteria for the least CIBIL score they require to process your loan. A lower CIBIL score than 750 can invite a higher car loan rate of interest.

Car Loan Guntur Contact Number

To get assistance for car loan details and offers, you can call us on 9878981166

Pre Calculated EMI Table for Car Loan Guntur

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

About Guntur

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On the coast of the Bay of Bengal, Guntur is a city in the state of Andhra Pradesh. The city holds a coastline of 100 kilometers. Despite being the 11th most densely populated city in India and 24th in the world, Guntur is a place one should definitely visit. Two major languages spoken in Guntur are Telegu and Urdu. As of 2020, it has a population of 8.5 lakhs.

Special Note: Banks do not provide Car Loans to poor credit holders, but one can accomplish their money requirement with Gold Loan easily.

Car Loan EMI Calculator Guntur

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