Car Loan Khonsa

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Car Loan Khonsa

Best Banks for Car Loan in Khonsa


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Car Loan Khonsa 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

Purchasing a car is the dream of every person. Today it has become the status symbol. If you are looking for a car loan in Khonsa, you are right place. Here you can check and compare the interest rate, loan tenure and other important terms which you must check while taking a car loan. You can get a car loan at the lowest interest rate and affordable EMIs.

Car Loan Khonsa


car loan

Car Loan Khonsa 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 Khonsa EMI Calculator

Car Loan Khonsa 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 Khonsa 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 Khonsa 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.


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How to Get the Best Car Loan Interest Rates in Khonsa

The interest rates on vehicle loans offered by different banks in khonsa may vary. If a borrower wants to get a car loan in khonsa with an affordable interest rate, follow the steps below:

  • Short repayment term – Repayment can be done in short term and long term, Bank would try to convince you to go for the long term. But in reality, this is not a good idea for a borrower, if loan tenure increase interest rate also increases. To get a loan at a low rate of interest borrower must try to repay the loan in a short time and choose short term repayment.
  • Research and compare the terms offered by different lenders – If you want to get a good deal on a car loan, you must explore and compare offers from different banks. This can help you in finding out the best bank for you with the best interest rates.
  • Maintain debt-to-income ratio – The debt-to-income ratio gives how much of the borrower’s income goes for loan repayment. Lenders notice this while setting interest rates. If the debt-to-income ratio comes out to be low, borrowers can get a better chance of having a car loan with a low-interest rate.
  • Credit score — Credit score plays an important role while getting a car loan. Lenders will provide loans at less interest rates if your credit score is upto their expectations. The lender usually checks for a credit score of 750 or above points. If the borrower has below this there are fewer chances of getting a loan with a low-interest rate. To check credit scores regularly borrowers can check through Dialabank free credit score service in this borrower can check credit scores any time from anywhere.

How to Apply for a Car Loan in Khonsa?

To Avail a Car Loan Khonsa with Dialabank. Follow the steps given below:

  • Visit Dialabank official website Dialabank.
  • Click on the car loan option available in the loan menu.
  • Fill in the details related to the car type and income.
  • Wait for the Dialabank relationship manager. He will contact you on your provided contact number.
  • In case of any query, you can contact Dialabank relationship managers on 9878981166.
  • For availing of a Khonsa car loan offline, you will have to visit the branch personally, which might turn to be hectic for you.


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Which Bank in Khonsa Offers the Best Car Loans?

Many big banks including HDFC, ICICI, and SBI, offer car loans in Khonsa. The best option will be the one that provides the loan amount you need at a reasonable interest rate and gives loans fast. It is always recommended to compare car loan services of banks available in Khonsa before applying. Choose the bank which meets your needs and expects you to pay less interest rate.

Car Loan for Major Car Manufacturers in Khonsa

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Khonsa

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 Khonsa

The CIBIL score is referred to as the ability of borrowers to make repayment of credits. A higher Credit point indicates good credit history which makes the car loan application process smooth and fast. Mostly, lenders consider a credit score of 750 and above to approve the loan application process in Khonsa.

This score may vary from one bank to other. In case if you have a low CIBIL score that is not touching the lender’s expectations, then they might ask you to pay a high-interest rate on the loan amount. While if it would be the other case where your CIBIL score is good, then you may get a loan at a low rate of interest. Thus, a CIBIL score plays a significant role in a car loan.


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Car Loan Khonsa Contact Number

In case of any queries regarding the Car Loan Khonsa, you may contact on the number 9878981166 for any assistance.


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Pre Calculated EMI Table for Car Loan Khonsa

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 Khonsa

Khonsa is a town in Arunachal Pradesh that is growing with time. This town is close to nature which makes it more beautiful to live in. One can find people from every state of India here. When it comes to the growth of this town it is growing day by day and has a number of options for banks and NBFCs.


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FAQ’s About Khonsa Car Loan

✅ What types of vehicles can borrowers purchase with a car loan?

The borrower can go for various passenger vehicles which can be for personal or business purposes. A borrower can buy SUV, MUV, Truck, Tractor or any other vehicle.

✅ How can a person increase the chances of getting a car loan?

The best way to get a loan easily is by increasing your credit score and by having a good credit history. Lenders usually check credit report while giving any loan. Credit report plays a very important role in getting.

✅ What amount of loan can borrowers expect from a car loan?

Lenders usually give 80% – 90% loan amount of value of the car and expect a borrower to pay the remaining part.