Car Loan Kotkhai

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Car Loan Kotkhai

Best Banks for Car Loan in Kotkhai

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 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


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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


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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


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Car Loan Kotkhai Fees and Charges: Leading Banks – May 21 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 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.


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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.


car loan

How to apply for Car Loan Kotkhai?

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


car loan

Which Bank in Kotkhai Offers the Best Car Loans?

Car Loan Kotkhai

Many banks and NBFCs, like ICICI, 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

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
>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 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.


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Car Loan Kotkhai Contact Number

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


car loan

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


car loan

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

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.