Car Loan Kottarakkara

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Car Loan Kottarakkara

Best Banks for Car Loan in Kottarakkara


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Car Loan Kottarakkara 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

 

Long journeys on a bus or any other public transport are sturdy and very uncomfortable. Moreover, people don’t have the liberty to stop at any particular place or do what they want. Whereas a personal car is comfortable and journeys in own car is fun, you can get a private car with the help of Car Loan Kottarakkara.

Car Loan in Kottarakkara


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Car Loan Kottarakkara 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 Kottarakkara EMI Calculator

Car Loan Kottarakkara 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 Kottarakkara Fees and Charges: Leading Banks – May 27 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 Kottarakkara 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 Kottarakkara

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

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


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How to Apply for a Car Loan in Kottarakkara?

Availing of a car loan in Kottarakkara is an easy process with Dialabank.

  • Visit Dialabank.
  • Click on car loans.
  • Fill in the details regarding your car and income
  • Wait, Dialabank’s relationship manager will get in touch.
  • You may also call 9878981166 for any queries regarding car loans in Kottarakara.


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Which Bank in Kottarakkara Offers the Best Car Loans?

Car Loan Kottarakara

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


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Car Loan for Major Car Manufacturers in Kottarakkara

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Kottarakkara

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 Kottarakkara

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


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Car Loan Kottarakkara Contact Number

For queries regarding the car loan in Kottarakkara, you may contact the number 9878981166 for any assistance.


car loan

Pre Calculated EMI Table for Car Loan Kottarakkara

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 Kottarakkara

Kottarakkara is a town of Kollam district in state Kerala. The Banks and NBFCs are also willing to process the Car Loans in Kottarakkara as more as possible. So visit dialabank.com  and get assistance as soon as possible.


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Car Loan Banks in Kottarakkara IFSC

Bank Name Bank Address IFSC Code
ANDHRA BANK ALPHONSA COMMERCIAL COMPLEX, MARKET JUNCTION, PUTHOOR ROAD SIDE, KOTTARAKKARA, QUILON,691506 ANDB0002915
BANK OF BARODA RAGHAVAN SWAMY MEMORIAL BLDG., Q.S. ROAD, PULAMON P O , KOTTARAKKARA DIST.KOLLAM, 691531, KERALA BARB0KOTTAR
CANARA BANK ALPHONSA COMMERCIAL COMPLEX, MARKET JUNCTION, KOTTAKKARA – 691506 CNRB0002681
CANARA BANK MP 18618, POOJA BUILDING, INCHAKADU MYLOM PO KOTTARAKKARA, KOLLAM PIN 691560 CNRB0005836
CORPORATION BANK THARAKANS BLDG., PULAMON PO M.C ROAD, KOTTARAKKARA 691531 CORP0000614
CATHOLIC SYRIAN BANK LIMITED SHEEBA BLDG, PULAMON JUNCTION, KOTTARAKKARA – 691531, KOLLAM DT. KERALA CSBK0000110
ESAF SMALL FINANCE BANK LIMITED PADINJATTATHIL COMPLEX, GOVINTHA MANGALAM ROAD, PULAMON JN, KOTTARAKKARA 691531 ESMF0001206
FEDERAL BANK P B NO. 1 PULAMON P O KOTTARAKKARA FDRL0001036
FEDERAL BANK KALPAKA BLDG, RLY STN ROAD, KKA NO X 529 A OF KOTTARAKKARA PANCHAYATH , KOLLAM DISTRICT FDRL0001884
HDFC BANK SREE GANESHAM ARCADE, MARKET JUNCTION, DIST KOLLAM, KOTTARAKARA KERALA 691506 HDFC0003527
ICICI BANK LIMITED ICICI BANK LTD., NADAN PLAZA, MARKET JUNCTION, KOTTARAKARRA 691 531 ICIC0000990
INDIAN BANK VETTIKAVALA ROAD CHENGAMANAD 691557 IDIB000C046
INDIAN BANK P B NO. 7 KOLLAM SHENCOTTA ROAD KOTTARAKARA KOLLAM DIST.KERALA 686001 IDIB000K075
INDIAN OVERSEAS BANK VIJAYA ARCADE, PULAMON, KOTTARAKARA, KOLLAM, KERALA 691531 IOBA0003208
STATE BANK OF INDIA PBNO1, GEETHABHAVAN, MARKETJUNCTION, KOTTARAKKARA 691506 KOTTARAKARA ATSBT COIN SBIN0070063
STATE BANK OF INDIA PBNO12, KAZHAPAVABUILDINGS, KPVII117A, KOTTARAKKARA PO 691506 KOTARAKARADB ATSBT COIN SBIN0070241
SOUTH INDIAN BANK KOTTARAKARA BRANCH, X12341, QS ROAD, CITY TOWER BUILDING, KOLLAM, KERALA, PIN-691506 SIBL0000105
UCO BANK NSS KARAYOGAM BUILDING MARKET JUNCTION, OYUR PIN 691506 UCBA0002906
AXIS BANK COOP URBAN BANK, KOTTARAKKARA, KOLLAM D T, 673631 UTIB0CUBK97

FAQ’s About Kottarakkara Car Loan

✅ Can I get a 100% Car Loan from Banks in Kottarakkara?

Yes, you can get a 100% Ex-showroom Price for car loans in Kottarakkara.

✅ How much Processing Fee applies for a Car Loan in Kottarakkara?

Each bank has different processing Charges, and some banks in Kottarakkara provide you with car loans without any processing fee.

✅ What are the EMI options available on Kottarakkara Car Loan?

For most banks in Kottarakkara, here are two EMI options Step-up EMI and Balloon EMI.