Car Loan Lehal

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Car Loan Lehal

Best Banks for Car Loan in Lehal


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Car Loan Lehal 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 Lehal


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Car Loan Lehal 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 Lehal EMI Calculator

Car Loan Lehal 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 Lehal Fees and Charges: Leading Banks – Jan 18 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 Lehal 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 Lehal

The interest rates on vehicle loans offered by different lenders in Lehal may vary, but they all are competitive and reasonable. If you want to get a car loan in Lehal with the lowest interest rate, then follow the below-mentioned steps:

  • Select a shorter repayment period – Some borrowers feel that longer repayment terms are preferable since the monthly EMI (equated monthly instalment) is cheap. Applicants do not appear to be aware that lenders consider longer repayment terms as a sign of a borrower’s low repayment capacity, therefore they charge higher interest rates.
  • Maintain a low debt-to-income ratio – The debt-to-income ratio measures how much of an applicant’s income goes toward loan repayment, and banks might take this into consideration when determining interest rates. If your debt-to-income ratio is low, you have a higher chance of receiving a vehicle loan with a lower interest rate.
  • Maintain a high credit score – If you have an excellent credit score, lenders are more likely to grant you a vehicle loan with lower interest rates. A credit score of 750 or above is considered good by lenders or banks.

How to Apply for a Car Loan in Lehal?

Availing of a car loan in Lehal is an easy process with Dialabank. To take advantage of the greatest deals, follow the procedures outlined below:

  • Visit our website Dialabank.
  • In the menu, click on the auto loan option.
  • Fill in all of the essential information about your income and vehicle type.
  • Once you’ve filled out the form, our relationship manager will contact you at the phone number you provided.
  • If you have any questions concerning the loan, please call our relationship managers at 9878981166.
  • Visit the bank in person to obtain an offline approach for obtaining a car loan, which may be time-consuming for you.


car loan

Which Bank in Lehal Offers the Best Car Loans?

Vehicle loans are available in Lehal from a number of NBFCs and banks, including HDFC, ICICI, and SBI. The best lender is one who offers you a fair interest rate on your loan amount and can disburse the cash as soon as possible. Before applying for a vehicle loan that fits all of your needs, such as interest rates, it is usually a good idea to examine and compare them from multiple lenders.

Car Loan for Major Car Manufacturers in Lehal

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Lehal

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 Lehal

A CIBIL Score is what determines your capacity to repay your debts. A high credit score indicates that the applicant has a strong credit history, which makes the loan application procedure simple and straightforward. The majority of banks and NBFCs in Lehal consider a credit score of 750 and above to be a decent score for approving your loan application procedure.

This score varies from bank to bank. If your CIBIL score is lower than the required number, you will be forced to pay a higher interest rate on the loan amount, but if your CIBIL score is higher, you may be required to pay a lower interest rate.


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Car Loan Lehal Contact Number

If case you face any queries regarding the car loan, you may contact on the number 9878981166 for any assistance.


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Pre Calculated EMI Table for Car Loan Lehal

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 Lehal

Lehal is a village in the state of Punjab and it comes under the district of Jalandhar. It has a population of 1,114(2011) and is located 23.5km from Phillaur.


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FAQ’s About Lehal Car Loan

✅ Is the Car Loan Lehal interest rate negotiable?

Usually, the interest rate is negotiable but it majorly depends on your CIBIL Score, past records, past relationship with the money lenders and other factors.

✅ What are the methods for repaying my Lehal Car Loan? 

There are three methods to repay you loan Electronic Clearing Service (ECS), Standing Instruction (SI) it is advised that you repay your loan using the first two methods as they are faster and have a lower risk of error, which is not the case with third method Post-Dated Cheques (PDCs).

✅ What is a good car loan CIBIL score?

A CIBIL score of 750 and above is good for applying for a Car loan.