Car Loan Lopoke

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Car Loan Lopoke

Best Banks for Car Loan in Lopoke


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Car Loan Lopoke 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


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Car Loan Lopoke

Car Loan Lopoke 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 Lopoke EMI Calculator

Car Loan Lopoke 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 Lopoke Fees and Charges: Leading Banks – May 28 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 Lopoke 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 Lopoke

The interest rates on auto loans given by different lenders in Lopoke may vary, but they all are competitive and sensible. So, if you want to acquire a vehicle loan in Lopoke with the lowest interest rate, then follow the below-mentioned steps:

  • Choose a shorter repayment period – Usually, borrowers think that longer repayment terms are preferable to shorter repayment terms, as the monthly EMI is small. In general, it seems not known to applicants that the lender considers prolonged payback terms to be an indicator of the borrower’s low repayment capacity since they charge higher rates.
  • Compare the advantages of various banks and lenders – It’s usually advisable to compare and study the offers and perks given by different lenders to get a fair deal on car credit. This helps you to discover which lenders offer the greatest interest rates to pick from.
  • Modest debt-to-income relationship – debt-to-income measures the extent to which the applicants’ revenue goes to the loan repayment, and when the interest rates for the loan are determined, banks can take this information into their consideration. If your debt-to-earnings ratio is low, you are more likely to receive a low-interest rate auto loan.
  • Becoming with an excellent credit score – when you have a strong credit score, the lenders will typically provide you a lower auto loan. Lenders or banks think that a CIBIL score of 750 is good. Some lenders are offering substandard loans, but they are demanding a higher interest rate on loans.

How to Apply for Car Loan in Lopoke?

Availing of a car loan in Lopoke is an easy process with Dialabank. Follow the below-mentioned procedures to the advantage of the finest discounts:

  • Visit our website Dialabank.
  • Fill in all the required details like Name, Monthly Income, Phone No.
  • Apply for a Car Loan

Which Bank in Lopoke Offers the Best Car Loans?

Different NBFCs and banks in Lopoke are offering motorcycle loans, including HDFC, ICICI and SBI. You should, however, acquire loans from the best lender who gives you a reasonable interest rate on your loan amount and can spread the money as fast as possible. Before applying for one that matches all your needs, such as interest rates, you should constantly review and compare car loans from different lenders.

Car Loan for Major Car Manufacturers in Lopoke

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Lopoke

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 Lopoke

A CIBIL score refers to the definition of your credit payment capacity. A high credit score implies that the applicant has a strong credit history and makes it easy and easy to complete your application. In order to support your credit application procedure at Lopoke, the majority, banks and NBFCs need a credit score of 750, or higher.

Usually, the score differs between banks. In the event of a CIBIL score less than the desired value, you will have to pay a high interest rate on your loan, while you may have to pay a low interest rate if you have a strong CIBIL score.

Car Loan Lopoke Contact Number

In case if you have queries or issues regarding the car loan in Lopoke, you can contact us on the number 9878981166 for any sort of assistance.

Pre Calculated EMI Table for Car Loan Lopoke

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 Lopoke

Lopoke is in Amritsar Districk located in Punjab, India. The nearest town to Lopoke is Raja Sansi. The village Lopoke is about 15km far from Ajnala the sub-district headquarter.


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FAQ’s About Lopoke Car Loan

✅ Is it possible for me to acquire a loan on my current vehicle?

Yes, you can avail of car loans on your current vehicle.

What factors affect the CIBIL Score for a car loan?

The factors that affect CIBIL score are irresponsible payment history, minimum amount dues, outstanding debts and others.

✅ How many methods are there to apply for a Car loan? 

There are two methods to apply for a Car Loan online and offline method.