Car Loan Meerut

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Car Loan Meerut

Best Banks for Car Loan in Meerut

Feature
HDFC Bank
Private 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 Meerut Features

car loan meerut

Thinking of purchasing a new car? But don’t have the required funds for it? Do not worry! A car loan is here for you. A car loan is a means of funding or financial help provided by banks and NBFCs to the applicants at an affordable rate of interest to aid them in buying a car, whether new or used. Cars have become a necessity for everyone, but the cost of cars is growing rapidly daily. This is where a car loan comes into play and fulfills your desire to be the owner of your dream car. The main features of a car loan in Meerut are:

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

Car Loan Meerut 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
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

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Car Loan Meerut Documents Required

The essential documents required for a car loan approved in Meerut are:

For Salaried Individuals:

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

For Self Employed Individuals:

  1. Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
  2. Income ProofFor Salaried– Latest 3-month salary slip with form 16 /
  3. Address 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. Latest Income Tax Return

Car Loan Meerut Eligibility Criteria

To obtain the loan amount, a person must meet the Eligibility criteria for car loan.

Car Loan meerut

SALARIED INDIVIDUALS

  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. Least Annual Income: Rs 100000 net yearly pay.

SELF-EMPLOYED INDIVIDUALS

  1. Minimum age: 30 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: At least 2 years in business
  4. Minimum Annual Income: Net profit Rs. 60,000 Per Annum for standard cars and Rs.1,00,000 Per Annum for mid-sized and premium cars

How to Apply for Car Loan in Meerut?

Availing a car loan in Meerut is an easy process with DialaBank. Follow the following steps to avail the best offers efficiently:

  1. Visit our website
  2. Click on the car loan option available in the menu
  3. Fill in the details regarding the car type and your income
  4. Wait as our relationship manager will soon get in touch with you on your provided number.
  5. You may also contact our relationship managers on the number 9878981166 in case of any queries regarding the loan.
  6. 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!

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Car Loan for Major Car Manufacturers in Meerut

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Meerut

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

Get a car loan from AXIS bank

Get a car loan from SBI

CIBIL Score Required for Car Loan in Meerut

The CIBIL score is referred to as your ability to repay credits and is based on your credit repayment history. A higher credit score means good credit history and makes your car loan application process smooth and easy to be processed, while at the same time a low score can charge you a higher interest rate. Mostly, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Meerut. This score may again vary from bank to bank.

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Car Loan Meerut Contact Number

In case of any queries regarding the car loan in Meerut, you may call us up at 9878981166 for trustworthy assistance.

Pre Calculated EMI Table for Car Loan Meerut

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 Meerut

Meerut is a city in the NCR. It is the capital of Harit Pradesh. It is an antiquated city, with settlements going back to the Indus Valley civilization having been found in and around the region. The city lies 70 km upper east of the public capital New Delhi, and 430 km west of the state capital Lucknow.

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Car Loan EMI Calculator

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