Car Loan Kudumuluguma

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Car Loan Kudumuluguma

Best Banks for Car Loan in Kudumuluguma


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Car Loan Kudumuluguma 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 Kudumuluguma


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Car Loan Kudumuluguma 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 Kudumuluguma EMI Calculator

Car Loan Kudumuluguma 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 Kudumuluguma 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


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Car Loan Kudumuluguma 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 Kudumuluguma

Car loans in Kudumuluguma offered by different lenders are different, but they are reasonable.

  • Choose a shorter repayment for a Car Loan in Kudumuluguma– 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 Kudumuluguma view lengthier payback terms as an indication of a borrower’s low repayment capabilities, so they charge higher interest in Kudu.
  • Research and compare offers by different lenders in Kudumuluguma– You should explore and compare the benefits offered by different lenders in Kudu. This can help you determine the lenders in Kudumuluguma that provide the best interest rates and which lender in Kudumuluguma to choose for a car loan.
  • Maintain a modest debt-to-income ratio for a Car Loan in Kudumuluguma– The debt-to-income ratio in Kudumuluguma measures how much of your income goes toward other loan repayments in Kudu. Lenders in Kudumuluguma take this into account when setting interest rates. So if your debt-to-income ratio is lower, you can get a car loan in Kudumuluguma easily.
  • Car Loan in Kudumuluguma Maintains a good credit score- Lenders in Kudumuluguma will be pleased to offer you a car loan with cheaper interest rates if you have a good credit score. Lenders in Kudumuluguma consider a credit score of above 750 to be reliable. Many lenders in Kudumuluguma may give auto loans to people with bad credit, but they demand a higher interest rate for such car loans in Kudu.


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How to Apply for a Car Loan in Kudumuluguma?

Availing of a car loan in Kudumuluguma is an easy process with Dialabank:

  • Visit Dialabank.
  • Click on car loans
  • Fill in some details regarding the car type and your income
  • Wait as our relationship managers will soon get to you on your provided number.
  • You can contact our relationship managers on 9878981166 for any queries regarding the loan.
  • For availing of a car loan in Kudumuluguma offline, you will have to visit the bank branch personally.


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Which Bank in Kudumuluguma Offers the Best Car Loans?

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


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Car Loan for Major Car Manufacturers in Kudumuluguma

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Kudumuluguma

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 Kudumuluguma

The CIBIL score for a car loan in Kudumuluguma defines your ability to pay off your credits. A higher Credit score for a car loan in Kudumuluguma means good credit history and makes your car loan process in Kudumuluguma smooth and easy to be processed. Mostly, banks and NBFCs in Kudumuluguma consider a credit score of 750 and above as a good score to approve your loan application process in Kudu.


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Car Loan Kudumuluguma Contact Number

For any queries related to car loan in Kudumuluguma, call 9878981166.


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Pre Calculated EMI Table for Car Loan Kudumuluguma

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 Kudumuluguma

Kudumuluguma is a town of Malkangiri district in state Odisha. The Banks and NBFCs are also willing to process the Car Loans in Kudumuluguma as more as possible. So visit Dialabank and get assistance as soon as possible.

FAQ’s About Kudumuluguma Car Loan

✅ What types of vehicles can I purchase in Car Loan Kudumuluguma?

Car loans in Kudumuluguma can be used to buy various passenger vehicles, SUVs (Sport Utility Vehicles), MUVs (Multi Utility Vehicles), and all other types of vehicles. In addition, you can also get a car loan in Kudumuluguma to get a vehicle for business purposes like Trucks, tractors, and construction equipment from lenders.

✅ Is it possible to acquire a loan in Kudumuluguma on my current vehicle?

Yes, you can. If you have a good payment history with your lenders in Kudumuluguma, all lenders will grant you a loan on your current vehicle.

✅ What are the options for repayment of my Car Loan Kudumuluguma?

Standing Instruction, Electronic Clearing Service, and Post-Dated Cheques are some of the options for repaying your loan (PDCs). The first two options because they are faster and have a low risk of error, which is not the same case for PDCs in Car Loan Kudumuluguma.