Car Loan Khamanon

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Car Loan Khamanon

Best Banks for Car Loan in Khamanon

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 Khamanon Features

Car loan Khamanon

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A car loan is a financial help provided by banks and NBFC’s to fulfill your dream of having your own car. They offer necessary funding for purchasing a car which can be on Ex-Showroom Price or On-Road Price of the car. A car loan is a secured loan with easy repayment choices. The loan amount is offered on Interest Rates which differ from bank to bank. One can pay for the vehicle in easy installments.

We provide car loans starting at a reasonable rate of interest to both self-employed as well as salaried individuals. We offer car loans on new and used cars.

Some of the key features of car loan in Khamanon are the following:

  • Up to 90-95% of the funding available for new cars
  • Up to 80-85% of the funding accessible for used cars
  • The loan tenure duration is up to 7 years.
  • Equated Monthly Installment is worked out for a refund.
  • Early settlement of the pending amount is convenient subject to the pre-payment penalty.
  • There is a provision of reasonable interest rates provides to fulfill your desires.
  • There are no hidden or secondary charges for assistance.

Car Loan Khamanon 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

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Car Loan Khamanon 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. Salary Proof: Latest 3-month salary slip with form 16
  3. Residence Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Bank Statement: Last 6 months.

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 Khamanon Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Applicants

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: 1 year in current employment and a minimum of 2 years of 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 Rs. 60000 per annum for standard cars and Rs.100000 per annum for mid-sized and premium cars

Car Loan for Major Car Manufacturers in Khamanon

TABLE WILL APPEAR

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Processing Fees / Prepayment Charges on Car Loan in Khamanon

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 Khamanon

CIBIL score reflects your credit history in the past as well as your defaults in repayment of your previous loans. A good credit score is considered as 750 and above as most of the financial institutions ask for a high credit score. Every bank and NBFC has different criteria for a minimum CIBIL score they require to process your Car Loan Khamanon. A Lower CIBIL score than 750 can attract a higher rate of interest.

A very low CIBIL score can lead to rejection of your car loan as it is the first thing a bank tracks before processing your loan. Your record of previous loans is taken into consideration for a Car Loan Khamanon. If there are any delay payments for previous loans, it will create a barrier for availing of a fresh loan.

Car Loan Khamanon Agent Contact Number

For more information regarding the car loan in Khamanon, you can call us on 9878981166.

Pre Calculated EMI Table for Car Loan Khamanon

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 Khamanon

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About Khamanon

Khamanon is a town and a Nagar panchayat in Fatehgarh Sahib district in the state of Punjab, India. As per the 2011 census, id had a population of 10,135.

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