Car Loan Mira Road

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Car Loan Mira Road

Best Banks for Car Loan in Mira Road

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 Mira Road Features

car loan mira road

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.

Since cars have become a necessity for everyone, 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 Mira road are:

  • Car loans are available at low-interest rates, which may vary from bank to bank so make sure you compare and choose wisely.
  • Almost all major banks and NBFCs offer car loans in Mira Road in your vicinity
  • The car loan documentation process is quick and hassle-free
  • Car loans are easily available through DialaBank. we make sure our customers get the best facilities!

Car Loan Mira Road 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 Mira Road Documents Required

Documents required for car loan are as followed:

For salaried:

  • Passport copy, PAN Card, Voters ID card, or any other form of identity proof
  • The latest 3-month salary slip with form 16
  • Anyone address proof
  • 6 months of bank statements.

For self-employed:

  • Passport copy, PAN Card, Voters ID card, or any other form of identity proof
  • The ITR filing proofs required
  • Anyone address proof
  • 6 months of bank statements.

Car Loan Mira Road Eligibility Criteria

The car loan eligibility requirements are as followed in Mira Road:

For Salaried Individuals:

  • The age should be a minimum of 21years.
  • The maximum age should not be more than 60 years
  • A minimum of 1 year in current employment and a previous minimum of 2 years of total employment is necessary
  • A minimum of Rs 100000 income per annum

For Self-employed Individuals:

  • The age should be between 30-65 years.
  • At least 3 years of working business.
  • A minimum of Rs. 60000 p.a net profits for standard cars and Rs.100000 p.a. for mid-sized and premium cars

Car Loan for Major Manufacturers in Mira Road

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Mira Road

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 Mira Road

Apply for a Car Loan

The CIBIL score is referred to as your ability to pay off your credits and is based on your repayment history. A higher Credit score means good credit history and makes your car loan application process smooth and easy, while a lower 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 Mira Road. This score may again vary from bank to bank. Thus, a CIBIL score is an important factor in a car loan.

Car Loan Mira Road Contact Number

In case if you have queries regarding the car loan in Mira Road, you may contact us on the number 9878981166 for any sort of assistance.

Pre Calculated EMI Table for Car Loan Mira Road

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 Mira Road

Mira Road is a suburb in the Western Suburbs of Mumbai which stretches from Bandra to Bhayander in the Mumbai Metropolitan Region situated in the north-western portion of Salsette Island, Maharashtra state, India. Mira road has a large Gujarati population followed by Marathis and others.

car loan

FAQs about Car Loan Mira Road

✅ Can I get a loan to purchase a used car in Mira Road?

Yes, you have to use your credit history and previous arrangement with the prospective bank or any other lender in Mira Road to negotiate the interest rate on your car loan. Regularly paying your past loans/credit cards EMI with your prospective bank or any other lender will help you get a car loan with a lower interest rate.

✅ What is the typical tenure of a car loan in Mira Road?

A car loan can last anywhere between one to five years. The higher the EMI, the shorter your loan term, and the opposite is valid for longer car loan terms. Currently, only limited lenders are offering car loans on terms of up to seven years in Mira Road.

✅ Do I need a loan guarantor or co-borrower in Mira Road?

If you are unable to meet the lending institution’s eligibility standard, such as monthly salary, age, or credit score, a loan guarantor or co-borrower is required. You can even apply for a car loan of your own.

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