Best Banks for Car Loan in Kelambakkam
Car Loan Kelambakkam Features
⍟ Loan Approval in 30 Minutes
⍟ Lowest Rate of Interest
⍟ Up to 100% on Road Loan
⍟ Minimum Documentation
⍟ Paperless Process
⍟ Flexible Repayment
⍟ Zero Foreclosure
⍟ 24 x 7 Online Payment Facility
⍟ No Hidden Charges
Are you tired of riding that rusted scooter? Do you wish to buy a new car for your family as a surprise? Don’t be concerned! Dialabank is here to assist you in obtaining a loan for both new and used vehicles. Free of charge, our specialists will walk you through the application process and help you choose the best plan for you.
Car Loan Kelambakkam Eligibility Criteria
The car loan Kelambakkam eligibility requirements are as follows:
Salaried Individual
Net Monthly Income – Minimum ₹ 20,000
Employment Duration – 1-year minimum
Income Eligibility – Based on Form 16 and salary slip
Self-Employed Individuals
Minimum ITR – Rs.2 lakh
Employment Duration – Minimum 3 years
Income Eligibility – Depends on the latest Income Tax Returns
Self-Employed Non-Individuals (Company/Partnership)
Employment Duration – 3 years minimum
The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
Average Quarterly Balance – 2 quarters balance at a minimum of Rs.1 lakh
Maximum Loan Amount – 3 times the Average Quarterly Balance of the last 2 Quarters
Car Loan Kelambakkam EMI Calculator
Car Loan Kelambakkam Fees & Charges
7.35% per annum
Charges
New Car Loan
Used Car Loan
Interest Rate
11.80% p.a. to 13.80% p.a.
Car loan Processing fees
0.5%
0.5%
Issuance of Duplicate Repayment Schedule Charges
Around Rs.500
Around Rs.500
Foreclosure Charges
0.06
0.06
Penal Interest
2% PM
2% PM
Car loan Part Payment charges
6% of the amount
6% of the amount
Cheque/Instrument Swap Charge
Around Rs.500
Around Rs.500
Documentation Charge
Around Rs. 500
Around Rs. 500
Issuance of Duplicate No Dues Certificate Charges
Around Rs. 500
Around Rs. 500
Registration Certification Collection Charge
Around Rs. 200
Around Rs. 200
Cheque Bounce/Instrument Return Charges
Around Rs. 500
Around Rs. 500
Issuance of Duplicate Statement Charges
Around Rs. 500
Around Rs. 500
Loan Cancellation/Re-booking Charges
Around Rs. 1000
Around Rs. 1000
Issuance of Credit Report
Around Rs. 50
Around Rs. 50
Car Loan Kelambakkam Fees and Charges: Leading Banks – Mar 28 2024
Bank
Processing Fee
HDFC Bank Car Loan
(1999 - 4999) + Tax
Axis Bank Car Loan
1 % to 2.50%
Nil
Private Bank Car Loan
0.25% to 1.50%
SBI Car Loan
500/- to 0.50%
Nil
Kotak Car Loan
1% to 2%
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 Kelambakkam Documents Required
The essential documents required to get a car loan approved in Kelambakkam are as follows:
Salaried Individual
Category
Identity Proof (Any 1)
Passport
Voter ID
Aadhar Card
Driving License
Address Proof (Any 1)
Aadhar Card
PAN
Driving License
Electricity Bill
Date of Birth Proof(Any 1)
Birth Certificate
High School Marksheet
Driving Licence
Signature Proof(Any 1)
Bankers Verification
Passport
Income Proof
Bank Statement
Employment Continuity Proof
ITR of Form no. 16
Salary Slip mentioned with joining date
Letter of Appointment
Self-Employed Individuals
Category
Identity Proof (Any 1)
PAN Card
Passport
Voter ID
Aadhar Card
Address Proof (Any 1)
PAN Card
Voter ID
Passport
Electricity Bill
Date of Birth Proof (Any 1)
Birth Certificate
Passport
Driving Licence
PAN
Signature Proof (Any 1)
Bankers Verification
Passport
Bank Statement
Employment Continuity Proof
Shop & Establishment Act Certificate
Shop & Establishment Act Certificate
Sales Tax or VAT Certificate
Business Proof
Telephone Bill/Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
Category
Identity Proof (Any 1)
Driving Licence
PAN Card
Aadhar Card
Passport
Address Proof (Any 1)
Aadhar Card
Driving License
Voter ID
Income Proof
P&L Account
ITR for the previous 2 years
Bank Statement
Last 6 month
Business Continuity Proof
Audited Balance Sheet
TAX registration Certificate
Current Account Statement
Additional documents
2. Private Limited/Limited Companies
Category
Identity Proof
Copy of Incorporation
Address Proof (Any 1)
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
Sales Tax Certificate
Income Proof
P&L Account and ITR for the previous 2 years
Bank Statement
Previous 6 Months
Business Continuity Proof
ITR of the Company of the past 2 years
Audited Balance Sheet
Shop & Establishment Act Certificate
Additional documents
Board Resolution
PAN Card
Certificate of Commencement of Business for Ltd. Co.
How to Get the Best Car Loan Interest Rates in Kelambakkam
- Many vehicle loan applicants believe that lengthier repayment terms are better because the monthly EMI (equivalent monthly instalment) is low. They don’t seem to understand that lenders view extended payback terms as a symptom of a borrower’s weak repayment capabilities. Therefore they charge higher interest rates. If you want to save money on your car loan, consider a shorter payment period.
- If you want to get a good deal on a car loan, you need first to investigate and compare the various banks and their plans. This might help you figure out which lenders have the best interest rates and, as a result, which lender you should choose.
- Lenders use the debt-to-income ratio to determine interest rates by calculating how much an applicant’s income goes toward loan repayment. If your debt-to-income ratio is low, you have a better chance of getting a car loan with a lower interest rate.
- Lenders will gladly offer you a car loan with cheaper interest rates if you have a good credit score. Many lenders consider a credit score of 750 or higher to be healthy.
How to Apply for a Car Loan in Kelambakkam?
Availing for a car loan Kelambakkam is an easy process with Dialabank. All you have to do is follow some steps to avail the best offers:
- Dialabank’s official website can be found here.
- On our website, you can apply for a car loan by clicking on the auto loan option.
- Complete the appropriate fields with information about your financing needs.
- Our professionals will contact you as soon as possible at the phone number you provided.
Which Bank in Kelambakkam Offers the Best Car Loans?
In Kelambakkam, prominent banks and NBFCs such as HDFC, Private, and SBI offer vehicle loans. The most acceptable lender will be able to provide you with the loan you need at a reasonable rate of interest and release the funds as quickly as feasible. Therefore, before applying for a vehicle loan that fits all of your criteria, such as interest rates, it is usually a good idea to compare vehicle loans from various lenders.
Car Loan for Major Car Manufacturers in Kelambakkam
TABLE WILL APPEAR
Processing Fees & Prepayment Charges on Car Loan Kelambakkam
Category
Details
Processing Charges
Prepayment
Preclosure
Stamp Duty
Cheque Bounce Chgs
Floating Rate of Interest
Not Applicable
Overdue EMI Interest
Amortisation Schedule Chgs
Rs 200 + GST
CIBIL Score Required for Car Loan in Kelambakkam
The CIBIL score is an essential factor in obtaining a car loan. A strong credit score indicates that you have a solid credit history and that you are a reliable borrower, in which case your vehicle loan application process will be quick and straightforward. You will be charged a cheaper interest rate.
If you have never asked for a loan before, your credit score is unlikely to be zero, but it may be below. You can use various strategies to enhance your credit score, such as taking out short-term loans and returning them on time or applying for a credit card. We also recommend that you monitor your score frequently. When approving your loan application, a credit score of 750 or more is considered good by most banks and NBFCs in Kelambakkam.
Car Loan Kelambakkam Contact Number
In case of any queries regarding the car loan in Kelambakkam, you may dial up the number 9878981166 for any assistance!
Pre Calculated EMI Table for Car Loan Kelambakkam
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 Kelambakkam
Kelambakkam is a residential and suburban area in Chennai, India. It’s on the Old Mahabalipuram Road (OMR) in the city’s south-eastern reaches, roughly 5 km from Siruseri IT Park and 12 km from Sholinganallur junction. After Sholinganalur, another significant intersection connects the GST road (Vandalur) with the ECR road (Kovalam).
Car Loan Banks in Kelambakkam
Bank | Bank Address | IFSC |
CANARA BANK | OLD NO.1222, NEW NO.1161, KOVALAM ROAD, KELAMBAKKAM, CHENNAI – 603103 DIST KANCHEEPURAM, (TN) | CNRB0003168 |
HDFC BANK | NO. 221, SUSILA NAGAR KELAMBAKKAM KELAMBAKKAM 603103 | HDFC0002075 |
Private BANK LIMITED | Private BANK LTD., NO.162, KOVALAM MAIN ROAD, KELAMBAKKAM – 603108,TAMIL NADU | ICIC0002700 |
INDIAN BANK | ANAND INSTITUTE OF HIGHER TECHNOLOGY CAMPUS, OLD MAHABALIPURAM ROAD, SIRUSERI 603103 | IDIB000S146 |
INDIAN OVERSEAS BANK | 1 BY 33 PADMAVATHY COMPLEX,RAJIV GANDHI SALAI,OMR,SIRUSERI,PIN 603103 | IOBA0001740 |
INDIAN OVERSEAS BANK | HINDUSTHAN UNIVERSITY CAMPUS,POST BOX NO 1,RAJIV GANDHI SALAI,T N 603103 | IOBA0002554 |
INDIAN OVERSEAS BANK | NO.1 BY 146,EAST COAST ROAD ECR PALAVAKKAM,NEAR PALAVAKKAM MOSQUE,CHENNAI 600041 | IOBA0003269 |
INDIAN OVERSEAS BANK | 715,I FLOOR,GANAPATHY SYNDICATE COLONY,SEMMANCHERRY,CHENNAI 600 119 | IOBA0003440 |
INDIAN OVERSEAS BANK | 1,KELAMBAKKAM VANDALUR ROAD,MAMBAKKAM CHENNAI 600127 TAMIL NADU | IOBA0003623 |
KOTAK MAHINDRA BANK LIMITED | KOTAK MAHINDRA BANK LTD VINAYAGA MANSION, FIRST FLOOR DOOR NOS.244, 245, 246, 247 & 248 SUSHEELA NAGAR LAYOUT, RAJIV GANDHI ROAD OMR, KELAMBAKKAM, TAMIL NADU – 603 103. | KKBK0000467 |
KARUR VYSYA BANK | PLOT NO. 12, MALAYAPPA MUDALI STREET, KELLAMBAKKAM , CHENNAI-603103 | KVBL0001293 |
STATE BANK OF INDIA | R61LD181EWMETTUSTREETKELAMBAKKAM | SBIN0021869 |
TAMILNAD MERCANTILE BANK LIMITED | NO.3BY45, FIRST FLOOR, RAJIVGANDHI ROAD, OMR, KELAMBAKKAM, CHENNAI 603103 | TMBL0000424 |
AXIS BANK | 221, SUSEELA NAGAR, RAJIV GANDHI SALAI,( OLD MAHABALIPURAM ROAD ), KELAMBAKKAM,DIST. KANCHEEPURAM, TAMIL NADU, PIN 603103. | UTIB0001373 |
FAQ’s About Kelambakkam Car Loan
✅ Is there a requirement for collateral on a car loan?
An automobile loan is a secured loan, with the vehicle serving as collateral. If the borrower defaults on the loan, the bank will sell the vehicle.
✅ How long does a car loan last?
An automobile loan typically has a term of one to five years. Some lenders, however, may give a loan with a longer-term.
✅ Is it possible to negotiate the rate of interest on a car loan?
You can work with banks to get a loan with reduced interest rates based on your credit history and credit score.