Car Loan Ludhiana

I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Buy your dream Car

Rates as low as 7.05%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

Car Loan Ludhiana

Best Banks for Car Loan in Ludhiana

Feature
HDFC Bank
ICICI Bank
Kotak Mahindra Bank
Interest Rate (p.a.)
7.35 - 7.95%
8.5 - 9.5 %
11%
Min Loan Amt
Metro : 1 Lac & Non Metro: 75000
75000
75000
Max Loan Amt
1 Cr
1 Cr
1 Cr
Loan Tenure
Upto 7 Years
Upto 5 Years
Upto 5 Years
Processing Fee
1999 - 4999 + Tax
0.25% to 1.50%
0.25% to 1.50%
Preclosure Chgs
2%, Nil after 24 months
2%, Nil after 36 months
Nil
Loan to Value (LTV)
Upto 100% on Ex- showroom
Upto 95% on Ex- showroom
Upto 90% on Ex- showroom

Car Loan Ludhiana Features

car loan ludhiana

As the development of our country advances, so does the need to own one’s car. But paying for it out of one’s own pocket isn’t always a viable option. This is where a car loan helps you, which is a financial help or funding provided by banks and NBFCs for both new and used cars. As a resident of Ludhiana, you have an option to choose your own tenure while having access to other features such as: –

  • Car loans are available at low-interest rates
  • Almost all major banks and NBFCs offer car loans in Ludhiana
  • The documentation process is quick and hassle-free
  • Car loans are easily available through Dialabank

Car Loan Ludhiana Interest Rate

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

Apply for a Car Loan

Car Loan Ludhiana Documents Required

Documents required for car loan are as followed:

For Salaried:-

  • Identity Proof: PAN Card, Voters ID card, Passport copy, Driving License
  • Income Proof: Latest 3-month salary slip with form 16
  • Address Proof: Driving license / Voters card / Passport Copy / Telephone Bill / Ration card / Electricity Bill / Life Insurance Policy /PAN Card
  • Bank Statement: Last 6 months.

For Self Employed:-

  • Identity Proof: PAN Card, Voters ID card, Passport copy, Driving License
  • Income Proof: Latest ITR
  • Address Proof: Voters card / Passport Copy / Ration card / Telephone Bill / Driving license / Electricity Bill / Life Insurance Policy /PAN Card
  • Bank Statement: Last 6 months.

Car Loan Ludhiana Eligibility Criteria

The car loan eligibility requirements are as followed in Ludhiana:

For Salaried:-

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: 1 year in current employment and a minimum of 2 years of employment
  4. Minimum Annual Income: Rs 1,00,000 net annual income

For Self-Employed:-

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: at smallest 3 years in sales
  4. Minimum Annual Income: Net profit Rs. 60,000 p.a for regular cars and Rs.1,00,000 p.a. for mid-sized and superior cars

How to Apply for Car Loan in Ludhiana?

Availing a car loan Ludhiana is an easy process with Dialabank. Follow the following steps to avail the best offers:

  • Visit our website Dialabank.
  • Click on the car loan option available in the menu
  • Fill in the details regarding the car type and your income
  • Wait as our relationship manager will soon get in touch with you on your provided number.
  • You may also contact our relationship managers on the number 9878981166 in case of any queries regarding the loan.
  • For availing a car loan offline you will have to visit the branch personally, which might turn hectic for you. So we advise you to do it online!

Apply for a Car Loan

Car Loan for Major Car Manufacturers in Ludhiana

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Ludhiana

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

CIBIL Score Required for Car Loan in Ludhiana

The CIBIL score is referred to as your ability to repay your credits and is based on your credit history. A higher Credit score means makes your car loan application process smooth and easy, while a lower score might charge you higher interest rates. Mostly, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Ludhiana. This score may again vary from bank to bank. A CIBIL score is extremely important for a car loan.

Apply for a Car Loan

Car Loan Ludhiana Contact Number

In case you have queries regarding the car loan in Ludhiana, you may contact us on the number 9878981166 for any sort of assistance.

Pre Calculated EMI Table for Car Loan Ludhiana

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 Ludhiana

Ludhiana is an industrial city in the state of Punjab. It is known as ‘Manchester of India’ and is famous for its cycles and sewing machines, and also for its Punjab Agricultural University which is famous all over the world.

Its population is around 16.2 lakhs.

Apply for a Car Loan

Car Loan EMI Calculator

Other Car Loan Cities In Punjab

Car Loan Jalalabad Car Loan Ferozepur
Car Loan Jagraon Car Loan Fazilka
Car Loan Hoshiarpur Car Loan Faridkot
Car Loan Gurdaspur Car Loan Fatehgarh Sahib