Car Loan Lohardih

Best Banks for Car Loan in Lohardih

Car Loan Lohardih 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 Lohardih 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 Lohardih EMI Calculator

Car Loan Lohardih 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 Lohardih Fees and Charges: Leading Banks – Apr 19 2024

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 Lohardih 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 Lohardih

The interest rates on vehicle loans offered by different lenders in Lohardih may vary, but they all are competitive and reasonable. If you want to get a car loan Lohardih 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 Lohardih?

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

Visit our website Dialabank.
Choose the automobile loan option from the menu.
Fill out 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 method for auto loan, which may be time-consuming for you.

Which Bank in Lohardih Offers the Best Car Loans?

Vehicle loans are available in Lohardih from a number of NBFCs and banks, including HDFC, Private, 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 Lohardih

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Lohardih

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 Lohardih

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 Lohardih consider a credit score of 750 and above to be a good score for approving your loan application process.

This score is usually different from one bank to the next. 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.

Car Loan Lohardih Contact Number

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

Pre Calculated EMI Table for Car Loan Lohardih

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 Lohardih

Lohardih village is located in Chhattisgarh, India in Mahasamund Tehsil of Mahasamund district. It is situated about 20km away from Mahasamund which district and sub-district headquarter of village Lohardih. The nearest town to Lohardih is Bagabahara which an about 20km away.

FAQ’s About Lohardih Car Loan

✅ While applying for a car loan, do I need a guarantor?

The majority of banks don’t request a guarantor. However, if your salary amount doesn’t meet the qualification models, the lender could ask for a co-candidate.