Car Loan Mahabubnagar

Best Banks for Car Loan in Mahabubnagar

Feature
HDFC Bank
ICICI Bank
Kotak Mahindra Bank
Interest Rate
8% - 8.4 %
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 Mahabubnagar Features

Car Loan MahabubnagarPurchasing a brand new luxury car is no more an extraordinary task. Don’t worry even if you’re running short on cash. All the leading finance institutions provide Car Loans that enable an individual to possess the car of their choice without any chaos. Another product offered by the lenders is the used car loans which make it easier for an individual to buy a preowned or a used car which they might not be able to bear the first-hand cost.

Online car loans are an appropriate and fitting way to finance your car in no time. The eligibility criteria are also not much stringent as compared to other types of loans.

Visit Dialabank and get yours now.

Car Loan Mahabubnagar 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

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Car Loan Mahabubnagar Documents Required

Documents required for car loan are as followed:

 For Salaried Employee

  1. Proof of identity can include Aadhar Card/ Driving License/ Passport Copy, etc.
  2. Proof of income can include the  previous 3 months bank statements and salary slips for a salaried individual
  3. Residential proof can include Water Bill/ Telephone bill/ Voter ID/ Passport Copy
  4. Recent passport size photographs-2 are obligatory

For Self-Employed

  1. Proof of identity such as Aadhar Card/ Driving License/ Passport Copy, etc.
  2.  Recent ITR files for a self-employed individual
  3. Residential proof such as Water Bill/ Telephone bill/ Voter ID/ Passport Copy
  4. Recent passport size photographs-2 are mandatory.

Car Loan Mahabubnagar Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Employee

  1. An applicant should belong to an age group between 21 to 65 years of age
  2. A salaried employee must be working in the current company for a minimum of 1 year.
  3. An employed individual should earn a minimum salary of Rs 25000 every month.

For Self- Employed

  1. An applicant should belong to an age group between 21 to 65 years of age
  2. A Self-employed individual must have their business running from at least the last three years.
  3. Minimum Annual Income before availing of a loan: Net profit Rs. 60000 p.a for standard cars and Rs.100000 per annum for mid-sized and premium cars

Car Loan for Major Manufacturers in Mahabubnagar

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TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Mahabubnagar 

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 Mahabubnagar 

CIBIL score shows the credit borrow and repayment behavior of a borrower. Thus, the banks have a minimum CIBIL score requirement based on which the loan is approved. Generally, if an individual has a score above 800 then they are eligible for availing a car loan at an on-road price.

One must clear all the pending dues and debts in order to maintain a good credit score. Default in your credit score may hinder your opportunities for availing a fresh loan in the future.

Car Loan Mahabubnagar Contact Number

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To get an instant car loan you can visit our website Dialabank or call on 9878981166 to get the best assistance. Our executives are well trained and will assist you in order to provide you with a deal most suited for you.

Pre Calculated EMI Table for Car Loan Mahabubnagar

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

You can calculate your EMI here: Car Loan EMI Calculator

About Mahabubnagar

Mahabubnagar is a city in the Mahabubnagar District of the Indian state of Telangana named after the 6th Nizam, Mir Mahbub Ali Khan. It is the headquarters of Mahbub Nagar mandal in Mahbub Nagar revenue division. The city is also the largest in the district with an area of 39.64 km² and it is the 7th most populous city in the state. Telugu and Urdu are the major official languages used in the Mahabubnagar.

Special Note: Banks do not provide Car Loans to applicants with poor credit history, but one can fulfill their money requirement with Gold Loan easily.

Car Loan EMI Calculator

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