Car Loan Kottappuram

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Car Loan Kottappuram

Best Banks for Car Loan in Kottappuram


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Car Loan Kottappuram 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 Kottappuram


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Car Loan Kottappuram 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 Kottappuram EMI Calculator

Car Loan Kottappuram 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 Kottappuram 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 Kottappuram 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 Kottappuram

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

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


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How to Apply for a Car Loan in Kottappuram?

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


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Which Bank in Kottappuram Offers the Best Car Loans?

Car Loan Kottappuram

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


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Car Loan for Major Car Manufacturers in Kottappuram

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Kottappuram

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 Kottappuram

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


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Car Loan Kottappuram Contact Number

For Car Loan Kottappuram queries, you can call 9878981166.


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Pre Calculated EMI Table for Car Loan Kottappuram

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 Kottappuram

Kottappuram is a village in the district of Thrissur in Kerala, India. Kottapuram has many banks and NBFCs to sanction car loans at low-interest rates and proficient features. 


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FAQ’s About Kottappuram Car Loan

✅ What are the charges for Prepayment in Car Loan Kottappuram?

Prepayment is different for each bank; however, some bank’s don’t charge any prepayment fee.

✅ Can I get a top-up loan on my existing car loan in Kottappuram?

Yes, Almost all banks in Kottappuram provides top-up loans.

✅ Do I need to provide a guarantor to avail myself of a car loan in Kottappuram?

No, there is no need to provide a guarantor for a car loan. However, you may need a guarantor if you miss the eligibility criteria.