Car Loan Madhapar

Best Banks for Car Loan in Madhapar

Feature	HDFC Bank	Private 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 Madhapar 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 Madhapar 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 Madhapar EMI Calculator

Car Loan Madhapar 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 Madhapar Fees and Charges: Leading Banks – Jun 10 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 Madhapar 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 Madhapar

The interest rates on auto loans given by different lenders in Madhapar may vary, but they all are competitive and sensible. So, if you want to acquire a vehicle loan in Madhapar 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 Madhapar?

Availing of a car loan in Madhapar 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 Madhapar Offers the Best Car Loans?

Different NBFCs and banks in Lopoke are offering motorcycle loans, including HDFC, Private 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 Madhapar

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Madhapar

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 Madhapar

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 Madhapar Contact Number

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

Pre Calculated EMI Table for Car Loan Madhapar

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 Madhapar

Madhapur is a large village in southwestern Kutch district which is located in the state of Gujarat, India. In terms of bank deposits, it’s one of the richest villages in India.

Car Loan Banks in Madhapar

BANK NAME	BANK ADDRESS	BANK IFSC CODE
ALLAHABAD BANK	PLOT NO. 3-2-73-A, NEAR BANK OF INDIA, NAVAVAS- MADHAPAR, BHUJ, DIST.KUTCH, PIN 370020.	ALLA0212750
BANK OF BARODA	SHOP NO 1 2 3 4 BHARAT GROUP GAYATRI MANDIR ROAD NEAR GANDHIBAPU CIRCLE JUNAWAS MADHAPAR 370020	BARB0JUNAWA
DENA BANK	SHRI SWAMINARAYAN MANDIR BUILDING, NAVAS, MADHAPAR-370020	BKDN0330492
CENTRAL BANK OF INDIA	P.O. MAADHAPAR, DIST-KUTCH, GUJARAT-370020	CBIN0280592
CANARA BANK	BHOOMI ARCADE NEAR MADHAPAR BUS STATION MADHAPAR BHUJ TALUKA KUTCH GUJARAT 370020	CNRB0003309
CORPORATION BANK	DOOR NO.4334, PULWARI BAZAR, NAVAVAS, MADHAPAR 370020	CORP0000521
HDFC BANK	HDFC BANK LTD., GROUND FLOOR, NEAR S T STAND, NATIONAL HIGHWAY, MADHAPAR, MADHAPAR, RAJKOT GUJARAT 360007	HDFC0003099
HDFC BANK	HDFC BANK LTDSHOP NO6 7 GOHIL TOWER NAVA VASMADHAPAR GUJARAT370020	HDFC0004302
Private BANK LIMITED	Private BANK LTD., SHREE PATEL GNATI MANDAK NAVAVAS MADHAPAR 370020, GUJARAT	ICIC0001624
INDUSIND BANK	GRD FLR KERAI ARCADE SHOP NO 1 4 NAVAVAS RD MADHAPAR 370020 BHUJ KUTCH GUJARAT	INDB0000886
BANK OF MAHARASHTRA	NR.GRAM PANCHAYAT, NAVA VAS, MADHAPAR, DIST KUTCH. 370020	MAHB0001543
STATE BANK OF INDIA	SWAMINARAYAN MANDIR COMPLEX NAVAVAS MADHAPARKUTCH 370020 TALUKA BHUJ KUTCH	SBIN0060364
AXIS BANK	NAVA VAS, NEAR PANCHAYAT OFFICE MADHAPAR, TALUKA BHUJ, DIST.KACHCHH	UTIB0000199

FAQ’s About Madhapar Car Loan

✅ What is a good car loan CIBIL score?

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

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

Yes, banks and financial companies provide loans on present owned vehicles to customers.

✅ What are the methods for repaying my Car loan?

There are three methods to repay your 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).