Car Loan Kutch

Best Banks for Car Loan in Kutch

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 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

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

Car Loan Kutch Fees and Charges: Leading Banks – Jun 08 2023

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
Private 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 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.

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.

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.

Which Bank in Kutch Offers the Best Car Loans?

Many banks and NBFCs, like Private, 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.

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
Prepayment Charges	>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

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.

Car Loan Kutch Contact Number

For Car Loan Kutch queries, you can call 9878981166.

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 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.