Car Loan Kelambakkam

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Car Loan Kelambakkam

Best Banks for Car Loan in Kelambakkam


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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 Chandernagar


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Car Loan Kelambakkam Eligibility Criteria

The car loan Kelambakkam eligibility requirements are as follows:

Salaried Individual
Age – 21 years to 60 years
Net Monthly Income – Minimum ₹ 20,000
Employment Duration – 1-year minimum
Income Eligibility – Based on Form 16 and salary slip
Self-Employed Individuals
Age – 21-65 years of age
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)
Minimum ITR – Rs. 2 lakh
Employment Duration – 3 years minimum
The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
At least 6-month vintage
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


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Car Loan Kelambakkam EMI Calculator

Car Loan Kelambakkam Fees & Charges

Charges New Car Loan Used Car Loan
Interest Rate

7.35% per annum

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


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Car Loan Kelambakkam Fees and Charges: Leading Banks – May 20 2022

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


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Car Loan Kelambakkam Documents Required

The essential documents required to get a car loan approved in Kelambakkam are as follows:

Salaried Individual

Category
Documents Required
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)
Passport
Birth Certificate
High School Marksheet
Driving Licence
Signature Proof(Any 1)
PAN
Bankers Verification
Passport
Income Proof
Salary Slip and latest Form No.16
Bank Statement
Last 6 month Bank statement
Employment Continuity Proof
Job card by NREGA
ITR of Form no. 16
Salary Slip mentioned with joining date
Letter of Appointment

 

Self-Employed Individuals

Category
Documents Required
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)
PAN
Bankers Verification
Passport
Bank Statement
Bank statement of last 6 months
Employment Continuity Proof
Latest ITRs
Shop & Establishment Act Certificate
Shop & Establishment Act Certificate
Sales Tax or VAT Certificate
Business Proof
Registration Certificate
Telephone Bill/Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate

 

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

Category
Documents Required
Identity Proof (Any 1) Driving Licence
PAN Card
Aadhar Card
Passport
Address Proof (Any 1)
Electricity Bill/Telephone Bill
Aadhar Card
Driving License
Voter ID
Income Proof
Audited Balance Sheet
P&L Account
ITR for the previous 2 years
Bank Statement Last 6 month
Business Continuity Proof
Company ITR of the last 2 years
Audited Balance Sheet
TAX registration Certificate
Current Account Statement
Additional documents
Letter of Authority or PAN Card

 

2. Private Limited/Limited Companies

Category
Documents Required
Identity Proof
The latest copy of MOA and AOA
Copy of Incorporation
Address Proof (Any 1)
SSI/MSME Registration Certificate
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
Sales Tax Certificate
Income Proof
Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Previous 6 Months
Business Continuity Proof
P&L account and
ITR of the Company of the past 2 years
Audited Balance Sheet
Shop & Establishment Act Certificate
Additional documents
List of Shareholding partners and Directors
Board Resolution
PAN Card
Certificate of Commencement of Business for Ltd. Co.


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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, ICICI, 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
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


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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.


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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!


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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


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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).


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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
ICICI BANK LIMITED ICICI 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.