Car Loan Karaikudi

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Car Loan Karaikudi

Best Banks for Car Loan in Karaikudi

Feature
HDFC Bank
ICICI 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 Karaikudi Features

car loan karaikudi

A car loan is a financial help provided by banks and NBFC’s to fulfill your dream of having your car. The various banks provide immediate funding for purchasing any car which can be in accordance with the Ex-Showroom Price or On-Road Price of the car. A car loan is a type of secured loan which is available with easy repayment options. The loan amount is sanctioned based on the Interest charges which is different from bank to bank. One can pay for the vehicle in easy installments.

Car Loan Karaikudi 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 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

Apply for a Car Loan

Car Loan Karaikudi 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. Residence Proof: Any one of the following (Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill)
  4. Bank Statement: Last 6 months.

 For Self Employed

  • Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
  • Income Proof: – Latest ITR reports.
  • Residence Proof: Any one of the following (Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill)
  • Bank Statement: Last 6 months.

Car Loan Karaikudi Eligibility Criteria

The eligibility criteria for a car loan  in Karaikudi are:

For Salaried Applicants

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

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 of at least Rs. 60000 p.a for standard car loans and approx. Rs.100000 p.a. for mid-sized and premium cars.

Car Loan for Major Car Manufacturers in Karaikudi

TABLE WILL APPEAR Apply for a Car Loan

Processing Fees & Prepayment Charges on Car Loan in Karaikudi

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 Karaikudi

Every lending institution has its criteria for the minimum CIBIL score required for processing the Car Loan application in Karaikudi so that they can minimize the risk of lending to you. Most institutions require a minimum score of CIBIL of 750 or above to process your loan application. Also having a good CIBIL score helps to loans at a cheaper rate of interest.

CIBIL score when higher helps to get a low level of interest rate on car loans.

The institutions don’t just look at the overall score but also the detailed behavior on the previous loans taken. This includes details on the type of loan taken and the amount borrowed. Failing in paying any payments for the previous loans can be a barrier for the user to avail a fresh loan.

Car Loan Karaikudi Contact Number

To get a car loan Karaikudi you can seek help from dialabank by contacting the number 9878981166. Apply for a Car Loan

Pre Calculated EMI Table for Car Loan Karaikudi

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

Car Loan EMI Calculator

Car loan EMI can be calculated by the Car loan EMI Calculator provided by Dialabank. It is free to use and you can use it an infinite number of times. Equated Monthly Installments(EMI) is the monthly fixed charges that you pay to the bank as monthly repayment for the loan amount borrowed. Based on the profile, the interest rate on the loan is determined. EMI is calculated based on the Interest Rate you are charged by the bank and the amount of loan you have to take and the period for which you enjoy the car loan.

About Karaikudi

Karaikudi is a City in Sivagangai district in the Indian state of Tamil Nadu. It is the 20 th largest urban agglomeration of Tamil Nadu based on 2011 census data.

car loan

FAQs about Car Loan Karaikudi

✅ Can I get a loan to purchase a used car in Karaikudi?

Yes, you have to use your credit history and previous arrangement with the prospective bank or any other lender in Karaikudi to negotiate the interest rate on your car loan. Regularly paying your past loans/credit cards EMI with your prospective bank or any other lender will help you get a car loan with a lower interest rate.

✅ What is the typical tenure of a car loan in Karaikudi?

A car loan can last anywhere between one to five years. The higher the EMI, the shorter your loan term, and the opposite is valid for longer car loan terms. Currently, only limited lenders are offering car loans on terms of up to seven years in Karaikudi.

✅ Do I need a loan guarantor or co-borrower in Karaikudi?

If you are unable to meet the lending institution’s eligibility standard, such as monthly salary, age, or credit score, a loan guarantor or co-borrower is required. You can even apply for a car loan of your own.

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