Car Loan Kangeyam

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Best Banks for Car Loan in Kangeyam

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 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 amount 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. 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
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

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Car Loan Kangeyam Documents Required

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

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
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 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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