Car Loan Kumkalan

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Car Loan Kumkalan

Best Banks for Car Loan in Kumkalan


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Car Loan Kumkalan 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

Are you fed up with travelling around in the buses or waiting and standing for a long time? Want to buy your own car? Dialabank is here to help you with all facilities that you need for having a Car Loan in Kumkalan to avail of it now and enjoy travelling in your car.

Car Loan kumkalan


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Car Loan Kumkalan 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 Kumkalan EMI Calculator

Car Loan Kumkalan 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 Kumkalan Fees and Charges: Leading Banks – May 26 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 Kumkalan 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 Kumkalan

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

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


car loan

How to Apply for a Car Loan in Kumkalan?

  1. Visit Dialabank.
  2. Apply for a Car Loan.
  3. Enter your number.
  4. For more information call 9878981166.


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Which Bank in Kumkalan Offers the Best Car Loans?

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


car loan

Car Loan for Major Car Manufacturers in Kumkalan

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Kumkalan

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 Kumkalan

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


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Car Loan Kumkalan Contact Number

In case of any queries regarding the car loan in Kumkalan, you may contact on the number 9878981166 for any assistance.


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Pre Calculated EMI Table for Car Loan Kumkalan

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 Kumkalan

Kumkalan is a village located in district Ludhiana of the Indian state Punjab, India. For more information on Car Loan, you can visit our official website.


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Car Loan Banks in Kumkalan IFSC

Bank Name Bank Address IFSC Code
HDFC BANK HDFC BANK LTD, OPP.COOPERATIVE BANK, VPO KOOM KALAN DISTT. LUDHIANA, PUNJAB LUDHIANA PUNJAB 141126 HDFC0003317

FAQ’s About Kumkalan Car Loan

✅ What kind of vehicles can I purchase in Car Loan Kumkalan?

Car loans in Kumkalan can be used to buy various kinds of vehicles such as SUVs (Sport Utility Vehicles), MUVs (Multi Utility Vehicles). All other types of vehicles are included in the Car Loan Kumkalan. You can also get a car loan in Kumkalan to acquire a vehicle for business purposes. Truck, tractor, and construction equipment loans are also available from lenders.

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

Yes, if you have a strong payment history with your current lender in Kumkalan, many lenders will grant you a loan on your current vehicle.

✅ What options do I have for repaying my Car Loan Kumkalan?

Standing Instruction, Electronic Clearing Service, Post-Dated Cheques are the options available for repaying your loan (PDCs). Repaying your loan using the first two options are better as they are faster and have a lower risk of error, unlike PDCs.