Car Loan Kotkhai

Best Banks for Car Loan in Kotkhai

Feature	HDFC Bank	Private 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

Car Loan Kotkhai 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 Kotkhai

Car Loan Kotkhai 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

Car Loan Kotkhai EMI Calculator

Car Loan Kotkhai 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

Car Loan Kotkhai Fees and Charges: Leading Banks – Apr 18 2024

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
Private 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 Kotkhai 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.

How to Get the Best Car Loan Interest Rates in Kotkhai

Car loans in Kotkhai offered by each lender is different, but they are reasonable.

Choose a shorter repayment for a Car Loan in Kotkhai – People believe that lengthier repayment terms are better as EMIs for such a car loan is low. However, they don’t seem aware that lenders in Kotkhai view lengthier payback terms as an indication of a borrower’s low repayment capabilities, so they charge higher interest in Kotkhai.
Research and compare offers by different lenders in Kotkhai – You should explore and compare the benefits offered by different lenders in Kotkhai. This can help you figure out the lenders in Kotkhai that provide the best interest rates and which lender in Kotkhai to choose for a car loan.
Maintain a modest debt-to-income ratio for a Car Loan in Kotkhai – The debt-to-income ratio in Kotkhai measures how much of your income goes toward other loan repayments in Kotkhai. Lenders in Kotkhai take this into account when setting interest rates. So if your debt-to-income ratio is lower, you can get a car loan in Kotkhai easily.
Car Loan in Kotkhai Maintain a good credit score – Lenders in Kotkhai will be pleased to offer you a car loan with cheaper interest rates if you have a good credit score. Lenders in Kotkhai consider a credit score of above 750 to be reliable. Many lenders in Kotkhai may give auto loans to people with bad credit, but they demand a higher interest rate for such car loans in Kotkhai.

How to apply for Car Loan Kotkhai?

Visit Dialabank
Go to the loan section and select auto loan, followed by the car loan link.
The applicant will be directed to all the car loan details where they can choose their preferred city.

Which Bank in Kotkhai Offers the Best Car Loans?

Car Loan Kotkhai

Many banks and NBFCs, like Private, SBI and HDFC, offer vehicle loans in Kotkhai. However, the finest lender in Kotkhai is one that provides you with a Car Loan Kotkhai at a reasonable interest rate and can provide the funds as quickly as possible. Therefore, it is always better to compare your vehicle loans from many lenders in Kotkhai before applying for one that meets all of your needs.

Car Loan for Major Car Manufacturers in Kotkhai

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Kotkhai

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
Prepayment Charges	>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 Kotkhai

The CIBIL score for a car loan in Kotkhai defines your ability to pay off your credits. A higher Credit score for a car loan in Kotkhai means good credit history and makes your car loan in Kotkhai process smooth and easy to be processed. Mostly, banks and NBFCs in Kotkhai consider a credit score of 750 and above as a good score to approve your loan application process in Kotkhai.

Car Loan Kotkhai Contact Number

For any queries regarding car loans in Kotkhai, call 9878981166.

Pre Calculated EMI Table for Car Loan Kotkhai

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 Kotkhai

Kotkhai is a city in the state of Himachal Pradesh, India. Car loans are the best way to avail money for any and all financial requirements. And Kotkhai has all the major banks and financial companies to provide the loan.

Car Loan Banks in Kotkhai IFSC

Bank Name	Bank Address	IFSC Code
HDFC BANK	HDFC BANK LTD., KHASRA NO. 647-648, MAIN BAZAR, KOTKHAI, SHIMLA HIMACHAL PRADESH 171202	HDFC0002967
HDFC BANK	VILLAGE RATNARI KOTKHAI SHIMLA HIMACHAL PRADESH 171225	HDFC0003776
HIMACHAL PRADESH STATE COOPERATIVE BANK LTD	CHAMAIN TEHSIL KOTKHAI	HPSC0000403
HIMACHAL PRADESH STATE COOPERATIVE BANK LTD	KHALTUNALA TEHSIL KOTKHAI PIN 171202	HPSC0000419
HIMACHAL PRADESH STATE COOPERATIVE BANK LTD	KIARI TEHSIL KOTKHAI PIN 171204	HPSC0000421
HIMACHAL PRADESH STATE COOPERATIVE BANK LTD	KOTKHAI TEHSIL KOTKHAI DISTT SHIMLA PIN 171202	HPSC0000422
HIMACHAL PRADESH STATE COOPERATIVE BANK LTD	PRAGATI NAGAR TEHSIL KOTKHAI PIN 171202	HPSC0000429
HIMACHAL PRADESH STATE COOPERATIVE BANK LTD	RATNARI TEHSIL KOTKHAI PIN 171225	HPSC0000447
HIMACHAL PRADESH STATE COOPERATIVE BANK LTD	DEORI KHANETI TEHSIL KOTKHAI PIN 171201	HPSC0000449
PUNJAB NATIONAL BANK	VPO GUMMA KOTKHAI DISTT SHIMLA HIMACAHL PRADESH KOTKHAI 171210	PUNB0871300
UCO BANK	V & PO KOTKHAIDISTT. SHIMLA 171202	UCBA0001075

FAQ’s About Kotkhai Car Loan

✅ What types of cars can I purchase with a car loan Kotkhai?

Car loans in Kotkhai can buy various passenger vehicles, SUVs (Sport Utility Vehicles), MUVs (Multi Utility Vehicles), and other vehicles. You can also get a car loan in Kotkhai to acquire a vehicle for business purposes. Truck, tractor, and construction equipment loans are also available from lenders.

✅ Is it possible to acquire a loan in Kotkhai on my current vehicle?

Yes, you can if your repayment history with your current lender in Kotkhai is above average.

✅ Repayment Options for auto loans in Kotkhai?

Standing Instruction, Electronic Clearing Service, and Post-Dated Cheques are the three options for repaying your loan (PDCs). However, it’s usually advised that you return your loan using the first two options because they are faster and have a lower risk of error, which is not the case with PDCs.