Car Loan Modasa

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Car Loan Modasa

Best Banks for Car Loan in Modasa

Kotak Mahindra Bank
Interest Rate
8% - 8.4 %
8.5 - 9.5 %
Min Loan Amt
Metro : 1 Lac & Non Metro: 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
Loan to Value (LTV)
Upto 100% on Ex- showroom
Upto 95% on Ex- showroom
Upto 90% on Ex- showroom

Car Loan Modasa Features

car loan modasa

The main purpose of our company Dialabank is to make a car loan procedure easier for you and help you avail an offer that is the best fit for your financial condition. A car loan is a means of funding 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. You can also get access to many features in Modasa.

  • Car loans are available at low-interest rates, which may vary from bank to bank so make sure you compare and choose wisely.
  • Car loans in Modasa are offered by all banks and NBFCs in your vicinity
  • The documentation process is quick and efficient
  • Car loans are easily available through DialaBank. we make sure our customers get the best facilities!

Car Loan Modasa 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 Modasa 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
  •  ITR filing proofs required
  • Anyone address proof
  • 6 months of bank statements.

Car Loan Modasa Eligibility Criteria

car loan modasa

The car loan eligibility requirements are as followed:

For Salaried Individuals:

  • The age of the car loan applicant should be a minimum of 21 years.
  • The maximum age should not exceed 60 years.
  • A minimum of 1-year tenure in current employment and a previous total of 2 years of total employment is essential.
  • Rs 100000 income per annum at least.

For Self-employed Individuals:

  • The age of the applicant should lie between 30-65 years.
  • At least 3 years of business operating is necessary.
  • Rs. 60000 p.a net profits for standard cars and Rs.100000 p.a. for higher-range cars are essentially required

Car Loan for Major Car Manufacturers in Modasa


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Processing Fees & Prepayment Charges on Car Loan Modasa

Category Details
Processing Charges
1999 - 4999 + Tax
No prepayment is allowed until 12 EMIs are paid
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 Modasa

The CIBIL score is referred to as the ability with which you pay off your credits in the past and is based on your repayment history all over the years. A higher credit score means that you are punctual and show that you a trustworthy creditor, and this can get you a loan easily on low-interest rates. Thus, a CIBIL score is an important factor in a car loan.

While most banks consider 650 to be a ‘fair’ score, a score of 750 and above is necessary for a smooth application.

If you have a bad credit score, i.e. less than 600, you can help secure a loan by various methods such as taking a secured loan (by offering a collateral property), or by showing some rented utilities under your name, such as a rented apartment.

Car Loan Modasa Contact Number

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

Pre Calculated EMI Table for Car Loan Modasa

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

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