Car Loan Kutch

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Car Loan Kutch

Best Banks for Car Loan in Kutch


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Car Loan Kutch 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

Thinking of purchasing a new car? But you don’t have the required funds for it? Do not worry! A car loan is here for you. A car loan is a means of financial funding help provided by banks and NBFCs to the applicants in Kutch at an affordable rate of interest to aid the customers in buying a car, whether new or used.

Car Loan Kutch


car loan

Car Loan Kutch 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 Kutch EMI Calculator

Car Loan Kutch 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 Kutch 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 Kutch 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 Kutch

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

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


car loan

How to Apply for a Car Loan Kutch?

Availing a car loan Kutch is an easy process with Dialabank, and there are two ways to do it:

  • Online method – Visit our website and click on the car loan option available on the menu. Then, fill in the details regarding the car type and your income. Then, just wait for our relationship manager will get in touch with you. You can contact our relationship managers on 9878981166 for any queries regarding car loans in Kutch.
  • Offline method – For this, you will have to visit the branch personally, which might turn to be a chaotic experience for you.


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Which Bank in Kutch Offers the Best Car Loans?

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


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Car Loan for Major Car Manufacturers in Kutch

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Kutch

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 Kutch

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


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Car Loan Kutch Contact Number

For Car Loan Kutch queries, you can call 9878981166.


car loan

Pre Calculated EMI Table for Car Loan Kutch

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 Kutch

Kutch is located in Gujarat state in India and is the largest district all over the country. It is famous for its enormous white salt desert, the Great Rann of Kutch, which lies within the Thar Desert boundaries, and its artistic handicrafts. Its population is around 21 lakhs.


car loan

Car Loan Banks in Kutch 

        Bank Name                                       Bank Address          IFSC Code
BANK OF INDIA SAHJANAND BHAVAN, GARBI CHOWK BEHIND SWAMINARAYAN MANDIR BKID0003802
FEDERAL BANK SHAHI COMPLEX, OPP.HOTEL BANSIDHAR PALACE MIRZA CORNER, PORT ROAD FDRL0001995
STATE BANK OF INDIA TAL GANDHIDHAM, KUTCH, GUJARAT PIN 370240 SBIN0002648
STATE BANK OF INDIA GANDHIDHAM, KANDALA FREE TRADE ZONE DISTKUTCH 270230 SBIN0002657
STATE BANK OF INDIA HOSPITAL ROAD, BHUJDIST KUTCH, GUJRAT 370001 SBIN0004194
STATE BANK OF INDIA DIST KUTCHSTATE GUJARAT SBIN0011005
STATE BANK OF INDIA SHOP NO 66,67, 68, 88, 89 AND 90 TO 52 A WING, BHUJ, DIST KUTCH 370001 SBIN0013010
STATE BANK OF INDIA 1ST FLOOR, KATIRA COMMERCIAL COMPLEX 2 MANGLAM, BHUJ, DIST KUTCH 370001 SBIN0013011
STATE BANK OF INDIA 1ST FLOOR,KANDLA SEZ BRANCH,GANDHIDHAM,KUTCH,DIST KUTCH 370230 SBIN0013018

FAQ’s About Kutch Car Loan

✅ What types of vehicles are available for a car loan Kutch?

Car loans in Kutch can be used to buy various passenger vehicles, SUVs (Sport Utility Vehicles), MUVs (Multi Utility Vehicles), and other vehicles. You can also get a car loan in Kutch 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 Kutch on my current vehicle?

Yes, you can if you have a strong payment history with your current lender in Kutch.

✅ What are my options for repaying my auto loan in Kutch?

Standing Instruction, Electronic Clearing Service, and Post-Dated Cheques are the three options for repaying your loan (PDCs). However, it’s usually advised that you return your loan using the first two options because they are faster and have a lower risk of error, which is not the case with PDCs.