Car Loan Khadur Sahib

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Car Loan Khadur Sahib

Best Banks for Car Loan in Khadur Sahib

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


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Car Loan Khadur Sahib 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

Car Loan in Khadur Sahib


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Car Loan Khadur Sahib Eligibility Criteria

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 Khadur Sahib EMI Calculator

Car Loan Khadur Sahib 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 Khadur Sahib Charges: Leading Banks – May 27 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


car loan

Car Loan Khadur Sahib Documents Required

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.


car loan

How to Get the Best Car Loan Interest Rates in Khadur Sahib

The interest rates on vehicle loans offered by different lenders in Khadur Sahib may vary, but they are reasonable and competitive. If you want to get a car loan in Khadur Sahib with the lowest interest rate, follow the steps below:

  • Choose a shorter repayment term – Because the monthly EMI (equivalent monthly instalment) is cheap, many vehicle loan applicants assume that longer repayment terms are better. They don’t appear to realise that lenders see longer payback terms as a sign of a borrower’s poor repayment ability. Therefore they charge higher interest rates. Consider a shorter payment time if you want to save money on your car loan.
  • Research and compare the perks offered by different lenders – If you want to receive a good bargain on an auto loan, you should first look into and evaluate the different lenders’ features. This can assist you in determining which lenders offer the lowest interest rates and, as a result, which lender to select.
  • Maintain a modest debt-to-income ratio – The debt-to-income ratio calculates how much of an applicant’s income goes toward loan repayment, and lenders use it to determine interest rates. If your debt-to-income ratio is lower, you have a higher chance of securing a car loan with a lower interest rate.
  • Maintain a good credit score — If you have an excellent credit score, lenders will be happy to provide you with a car loan with lower interest rates. A credit score of 750 or more is considered healthy by lenders in Khadur Sahib. Many lenders in Khadur Sahib may provide negative credit borrowers auto loans, but they will charge a higher interest rate. To ensure your decent credit score, check credit scores regularly using Dialabank’s “Free Credit Score” service.

How to Apply for a Car Loan in Khadur Sahib? 

Availing of a car loan in Khadur Sahib is an easy process with Dialabank.

  • Visit our website Dialabank.
  • Click on car loans.
  • Fill in details.
  • Wait for a few minutes and our relationship manager to get in touch.
  • You can also call 9878981166 in case of any queries regarding the loan in Khadur Sahib.
  • For availing of a car loan offline in Khadur Sahib, you will have to visit the branch personally, which might turn to be hectic for you.


car loan

Which Bank in Khadur Sahib Offers the Best Car Loans?

Vehicle loans are available in Khadur Sahib from several large banks and NBFCs, including HDFC, ICICI, and SBI. The best lender will be able to give you the loan amount you require at a reasonable interest rate and will be able to release the funds as soon as possible. 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 Khadur Sahib

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Khadur Sahib

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


car loan

CIBIL Score Required for Car Loan in Khadur Sahib  Car Loan Khadur Sahib

When applying for a car loan, your CIBIL score is quite important. The higher your CIBIL score, the more money you’ll be able to borrow in the shortest length of time. The reason for this is that a CIBIL score usually reflects the applicant’s attitude toward their debts. If the score is low, it indicates that the consumer has a poor credit history and may have difficulty managing their past and current debts. It may create a big problem for the customers in Khadur Sahib. A CIBIL score of more than 700 is usually considered a good credit score in Khadur Sahib.


car loan

Car Loan Khadur Sahib Contact Number

In case of any queries regarding the car loan in Khadur Sahib, you may contact on the number 9878981166 for any assistance.


car loan

Pre Calculated EMI Table for Car Loan Khadur Sahib

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

About Khadur Sahib

Khadur Sahib is a town and a Nagar Panchayat in Punjab’s Majha area, in the Tarn Taran district of the Khadur Sahib Tehsil. Khadur Sahib has been visited by eight out of ten Sikh gurus, making it a historically significant shrine. The postal index number for Khadur Sahib is 143117. 

FAQ’s About Car Loan Khadur Sahib

✅ What kinds of automobiles am I able to buy with a car loan in Khadur Sahib?

A wide range of passenger vehicles, including SUVs, MUVs, and other types, are eligible for car loans in Khadur Sahib. A car loan can also be used to purchase a corporate vehicle.

✅ Is it feasible to get a loan on my existing vehicle?

Yes, many lenders will provide you with a loan on your present vehicle if you have a good payment history with your current lender.

✅ What are my alternatives for repaying my car loan?

Standing Instruction (SI), Electronic Clearing Service (ECS), and (PDC) Post-Dated Cheques are three options for repaying your loan in Khadur Sahib. However, the first two options for recovering your debt are frequently advised because they are speedier and have a lower risk of error than PDCs.

✅ Is it necessary to have a guarantor for a car loan?

To obtain a car loan, most lenders in Khadur Sahib do not demand a guarantor. However, lenders in Khadur Sahib may ask for a co-applicant or a guarantee if your income is below the statutory minimum.