Car Loan Kangeyam

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Car Loan Kangeyam

Best Banks for Car Loan in Kangeyam

Feature HDFC Bank Private 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

Car Loan Kangeyam Features

Want to own a car but don’t have enough funds to purchase one? Worry not! A car loan might just be what you need to fulfil your desire. Car Loan is a secured loan with easy repayment options available for the applicants in the form of monthly instalments. The loan amount is offered on Interest rates, which differ from one lender to another according to your city.

You can avail a car loan in Kangeyam for purchasing a new car as well as a used car, as per your needs.  The car loan requirements and criteria vary from one lender to another. So if you are thinking of purchasing your dream car, get an instant Car loan Kangeyam with DialaBank at best offers available in the city.

Car Loan Kangeyam Interest Rates

New Car:

  1. If the requirement of the applicant is less than Rs. Three lacs then the interest rate charged would be 10.25%.
  2. Simultaneously, the interest rate charged would be 9.50% if the loan amount is between Rs.3 lacs to Rs.6 lacs.
  3. For loan amounts between Rs.6 lacs to Rs.10 lacs, a 9.25% interest rate would be charged.
  4. If the loan amount varies from Rs.10-20 lacs, then the interest rate charged would be 9.00%.
  5. The interest rate would be 8.70% for loan amount being more than Rs. 20 lacs.

Used Car:

The interest rate charged for used cars has been fixed at 14.00%.

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
Private 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 Kangeyam Documents Required

A person should review the documents required for car loan before making a decision.

For Salaried Individuals:

  1. Identity Proof : Passport copy, PAN Card, Voters ID card, Driving License or any other proof
  2. Income Proof : Latest 3-month salary slip with form 16 / and Latest ITR for self-employed
  3. Address Proof: Ration card / Driving license / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card or any other address proof
  4. Complete Bank Statements for the last 6 months.
  5. ITR filing of the previous 2 years for self-employed people is necessary.                        

For Self Employed Individuals:

  1. Identification 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 Kangeyam Eligibility Criteria

To obtain the loan amount, a person must meet the Eligibility criteria for car loan.

For Salaried Applicants:

  1. Minimum age: 21 years for salaried persons and 30 years for self-employed persons for a car loan
  2. Maximum age at loan maturity: 60 years for salaried and 65 for self-employed is the maximum age limit
  3. Minimum employment: For Salaried- 1 year in current organization and a minimum of total 2 years of employment / For Self Employed– a minimum of 3 years in business
  4. Minimum Annual Income: For Salaried Rs 100000 net annual income is necessary / For Self- Employed Net profit Rs.100000 p.a. for mid-sized and premium cars are essential, Rs. 60000 p.a for standard cars.

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.100000 per annum for mid-sized and premium cars, Rs. 60000 per annum for standard cars.

Car Loan for Major Car Manufacturers in Kangeyam

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Processing Fees & Prepayment Charges on Car Loan Kangeyam

Category Details
Processing Charges
1999 - 4999 + Tax
No prepayment is allowed until 12 EMIs are paid
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 Kangeyam

CIBIL score is a credit value what describes your creditworthiness of the past repayment of loans. So, it is an important factor to keep in mind while availing or applying for a car loan in Kangeyam. The CIBIL score required for car loans may keep varying from one lender to another depending on their own requirements respectively. Most banks and NBFCs accept a CIBIL score of 750 and above to process your car loan application in Kangeyam. In case of a low CIBIL score, you might be required to pay quite a heavy interest rate on the total loan amount, which is why a CIBIL score is so important.

Car Loan Kangeyam Contact Number

For any queries regarding the car loan in Keonjhar, you may contact on the number 9878981166.

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Pre Calculated EMI Table for Car Loan Kangeyam

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 Kangeyam

Kangeyam is a municipality in Kangeyam taluk of Tirupur district in the Indian state of Tamil Nadu, India. If you want to take Car Loan Kangeyam, visit our website and get the loan on low rate of interest.

Car Loan EMI Calculator

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