Car Loan Kotshamir

Best Banks for Car Loan in Kotshamir

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 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 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

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 Kotshamir Fees and Charges : Leading Banks – Apr 26 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 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.

How to Get the Best Car Loan Interest Rates in 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.

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.

Which Bank in Kotshamir Offers the Best Car Loans?

Many banks and NBFCs, like Private, 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 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
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 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 Kotshamir Contact Number

For Car Loan Kotshamir queries, you can call 9878981166.

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

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