Car Loan Jammu

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Car Loan Jammu

Best Banks for Car Loan in Jammu

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 Jammu Features

Car Loan Jammu

With the introduction of brand new cars in the Indian market weekly, the people are getting amazed by the different looks of cars, but the high price tags discourage them to buy those cars.

A car loan is the best way to attain cash in a small interval of time which will help you to arrange funds without any hindrance and hassle.   

car loan is financial assistance provided by banks and NBFC’s to individuals to fulfill their dreams of having their car. They provide the necessary funding according to your eligibility for purchasing a vehicle which can be on Ex-Showroom Price or On-Road Price of the car.

A car loan is a secured form of a loan with easy repayment options. Low-interest rates EMI options are available for car loans in Jammu.

Car Loan Jammu Interest Rate

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 Jammu Documents Required

Documents required for car loan are as followed:

For Salaried Individuals:

  1. Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
  2. Income Proof: Latest 3-month salary slip with form 16
  3. Address 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. Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
  2. Income Proof: Latest Income Tax Return
  3. Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Bank Statement: Last 6 months.
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Car Loan Jammu Eligibility Criteria

The car loan eligibility requirements are as followed in Jammu:

For Salaried Individuals:

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

For Self Employed Individuals:

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: A minimum of 3 years in business.
  4. Minimum Annual Income:  Net profit of Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars

How to Apply for Car Loan in Jammu?

Availing a car loan Jammu is an easy process with Dialabank. Just follow some steps to avail the best offers:

  • Visit our website and click on the car loan option available on the menu. Fill in the details regarding the car type and your income. Our relationship manager will soon get in touch with you on your provided number.
  • You may also contact our relationship managers on the number +919878981166 in case of any queries regarding the loan.
  • For availing a car loan offline you will have to visit the branch personally, which might turn hectic for you. So we advise you to do it online!

You may also visit the nearest branch personally to avail a car loan which may be a bit hectic for you.

Car Loan for Major Car Manufacturers in Jammu

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Jammu

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 Jammu

CIBIL score also known as credit score is the score that defines the credit-history of an applicant. The effectiveness with which a person has paid off his previous loans can be depicted through this score.

Any kind of loan including the car loan requires a good CIBIL score of the applicant. The exact value may differ from one bank to another. But, a score of 750 and above is considered a good score and makes the entire process of car loan availability easy and convenient.

The higher the CIBIL score, the easier it becomes for an individual to avail a car loan.

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Car Loan Jammu Contact Number

Dial us up at +919878981166 to get more information about car loans at Jammu and we will give you the best advice to help you fulfill your dream easily, quickly and efficiently.

Pre Calculated EMI Table for Car Loan Jammu

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 Jammu

Jammu is the winter capital and the largest city in Jammu district of the Indian union territory of Jammu and Kashmir. It is surrounded by the Himalayas in the north and the northern-plains in the south. Jammu is the second most populous city of the union territory.

Known as the City of Temples for its ancient temples and Hindu shrines, Jammu is the most visited place in the union territory. Jammu city shares its borders with the neighboring Samba district.

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Car Loan EMI Calculator

You may also check the car loan EMI calculator available on our website.

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