Car Loan Kotshamir

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Car Loan Kotshamir

Best Banks for Car Loan in Kotshamir

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 Kotshamir 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

If you or your family members are thinking of buying a car and you don’t have enough cash, you should go for a car loan. A car loan is basically the sum of money lent to an individual, a business, or any entity to purchase a car. This loan is structured as long term and short term instalments and comes under the category of secured loans.

Car Loan Kotshamir

 


car loan

Car Loan Kotshamir 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 Kotshamir EMI Calculator

Car Loan Kotshamir 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

Car Loan Kotshamir Fees and Charges : Leading Banks – May 28 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 Kotshamir 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 Kotshamir

 

Car Loan Kotshamir

 

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

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


car loan

How to Apply for a Car Loan in Kotshamir?

  • Visit Dialabank.
  • Click on the car loan.
  • Fill in your details regarding your income and car.
  • Wait for a call from Dialabank’s relationship manager
  • You can call 9878981166 in case of any queries regarding the loan.


car loan

Which Bank in Kotshamir Offers the Best Car Loans?

Many banks and NBFCs, like ICICI, SBI and HDFC, offer vehicle loans in Kotshamir. However, the finest lender in Kotshamir is one that provides you with a Car Loan Kotshamir 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 Kotshamir before applying for one that meets all of your needs.


car loan

Car Loan for Major Car Manufacturers in Kotshamir

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Kotshamir

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 Kotshamir

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


car loan

Car Loan Kotshamir Contact Number

For Car Loan Kotshamir queries, you can call 9878981166.


car loan

Pre Calculated EMI Table for Car Loan Kotshamir

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 Kotshamir

Kotshamir is a village in Bathinda Tehsil in Bathinda District in the Indian state of Punjab.

Car Loan Banks in Kotshamir IFSC

Bank Name Bank Address IFSC Code
CANARA BANK VILLAGE & PO KOTSHAMIR, DIST BHATINDA (PUNJAB) CNRB0002222
HDFC BANK HDFC BANK LTD., OPP. TELEPHONE EXCHANGE, VPO KOT SHAMIR, DISTT. BATHINDA, BATHINDA PUNJAB 151001 HDFC0003155
STATE BANK OF INDIA DIST BHATINDA, PUNJAB 151002 SBIN0002399

FAQ’s About Kotshamir Car Loan

✅ How to Check your loan status for Car Loan Kotshamir?

You can track your car loan status online on the bank’s official website.

✅ How to Calculate Car Loan Interest in Kotshamir?

Use the EMI calculator from Dialabank to find out the interest as well as your EMI for your car loan in Kotshamir.

✅ What is the maximum loan amount I can avail of on a Car Loan from banks in Kotshamir?

The maximum loan amount you can avail of on a car loan in Kotshamir is up to 100% of On Road Price.