Car Loan Midnapore

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Best Banks for Car Loan in Midnapore

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 Midnapore Features

car loan midnaporeOwning a car does not only represent status in society but also gives a comfort life. A car has become a necessity rather than a luxury. A car Loan is an offer that provides finance to people for buying a vehicle. It is a loan that allows a person to pay for the vehicle in instalments rather than paying it at once.
“No frequent visits to the Bank. Save your precious time. The Best Car Loan will knock at your door. Avail the Doorstep and Personalized Services of Dialabank.com and enjoy the ride of your dream car”.
Car Loan is designed to make your dream come true without any hassle. Avail the unmatchable features, offers, and benefits. Apply with Dialabank.

Car Loan Midnapore 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
1%
Nil
Andhra Bank Car Loan
Nil
Nil

 

To check Personal Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates

Car Loan Midnapore Documents Required

Generally, the basic documents required for loan application are:

  1. Any Identity Proof: Passport, PAN Card, Voters ID card, Aadhar Card, etc.
  2. Income Proof For Salaried Individuals– 3-month salary slip with form 16 / For Self Employed- Recent ITR filing proof
  3. Anyone Address Proof: Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card/Ration card
  4. Bank Statements for the last six months.
  5. ITR must have been filed for the last 2 years for self-employed people.

Car Loan Midnapore Eligibility Criteria

  1.  Income proof: Need to submit your salary slips for the last three months and the statements of your bank account for the last six months. For self-employed people, the requirement is to submit the audited bank account statements for the last six months.
  2. Employment Proof: Need to submit a copy of the appointment letter and a certificate of employment issued by your company. For self-employed individuals, the partnership deed or business establishment documents need to be submitted.
  3.  Tax Proof: Need to submit the IT return or Form 16 documents for the last two years.
  4. Address Proof: Any government sanctioned KYC document can be submitted as proof of residence.
  5.  Age Proof: Any government sanctioned KYC document can be submitted as proof of age

How to Apply for Car Loan in Midnapore?

Applying for a car loan in

  1.  Income proof: Need to submit your salary slips for the last three months and the statements of your bank account for the last six months. For self-employed people, the requirement is to submit the audited bank account statements for the last six months.
  2. Employment Proof: Need to submit a copy of the appointment letter and a certificate of employment issued by your company. For self-employed individuals, the partnership deed or business establishment documents need to be submitted.
  3.  Tax Proof: Need to submit the IT return or Form 16 documents for the last two years.
  4. Address Proof: Any government sanctioned KYC document can be submitted as proof of residence
  5. Age Proof: Any government sanctioned KYC document can be submitted as proof of age.

Processing Fees & Prepayment Charges on Car Loan Midnapore

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 Midnapore

CIBIL score is a numeric value that describes your creditworthiness of the past. So, it is an important factor to keep in mind while availing a car loan. The CIBIL score required for car loans in Midnapore may vary from one lender to another due to the presence of a huge number of lenders nowadays. Most banks prefer a CIBIL score of 750 and above to process your car loan application. In case of a low CIBIL score, to get your loan sanctioned you might be required to pay a heavy interest rate on the loan amount.

Car Loan Midnapore Contact Number

For any queries regarding the car loan Midnapore, you may contact us on the number 9878981166.

Pre Calculated EMI Table for Car Loan Midnapore

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 

Midnapore is the district headquarters of Paschim Medinipur district, West Bengal. It is situated on the banks of the Kangsabati River. Midnapore municipality had a population of 169,127.

Car Loan EMI Calculator

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