Car Loan Mahad

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Car Loan Mahad

Best Banks for Car Loan in Mahad

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 Mahad Features

car loan mahadOne of the most important benefits is that you save your precious time by applying online, as the Car loan in the Mahad process is quite simple. Your Car loan gets approved within a day or even on the same day of application.

Apply for a car loan

We provide car loans starting at an attractive rate of interest to both self-employed as well as salaried individuals. We offer car loans on new and used cars.

Some key features of car loan in Mahad are the following:

  • Easy monthly repayment options are available for you.
  • Instantly car loan available
  • Loan Tenure period varies from 1-7 years
  • There is a provision of an affordable interest Rates offers to fulfill your desires.
  • There are no hidden or additional charges

Car Loan Mahad Interest Rates

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
1%
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 Mahad Documents Required

Documents required for car loan are as followed:

For Salaried Individuals:

  1. Proof of Identification: Passport copy, PAN Card, Voters ID card, Driving License
  2. Income Proof: Latest 3-month salary slip with form 16
  3. Residence Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Bank Statement: Last 6 months.
  5. 2 passport size photographs

For Self Employed Individuals:

  1. Identification Proof: Passport copy, PAN Card, Voters ID card, Driving License
  2. Income Proof: Latest ITR
  3. Address Proof(anyone): Ration card/ Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Bank Statement: Last 6 months.
  5. 2 passport size photographs

Car Loan Mahad Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Applicants

  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.300000 net annual income

For Self-Employed Applicants

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: At least 3 years in business
  4. Minimum Annual Income: Net annual income Rs. 4 lakh, and Net profit Rs. 60000 per annum for standard cars and Rs.100000 per annum for mid-sized and premium cars

Car Loan for Major Car Manufacturers in Mahad

TABLE WILL APPEAR

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Processing Fees / Prepayment Charges on Car Loan in Mahad

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 Mahad

CIBIL score plays a key role while getting the loan. if your CIBIL score is between 750-900. then you will get the quick loan approvals. If the CIBIL score is less than 700 then your application will be pending. So, check your CIBIL score before you apply for the loan. if you pay your EMIs in time then your CIBIL score will be increased. If you do not repay Your EMI your CIBIL score will be reduced. The applicant has to pay monthly EMIs according to there schedule of the bank.

A very low CIBIL score can lead to rejection of your loan as it is the first thing a bank tracks before processing your loan. Your record of previous loans is taken into consideration for a car loan. If there are any delay payments for previous loans, it will create a barrier for availing of a fresh loan.

Car Loan Mahad agent Contact Number

For instant help and any more queries about the car loan, you can call 9878981166.

Pre Calculated EMI Table for Car Loan Mahad

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

Car Loan EMI Calculator

About Mahad

Mahad is the city of Raigad district which is located in the Indian states of Maharashtra. This has lied in the north Konkan region of Maharashtra. It is well-known historically due to the Raigad Fort.

It occupies 12 square kilometers. Mahad receives the highest rainfall in Raigad district due to the rain catcher forest and a popular hill station Mahabaleshwar.

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