Car Loan Moga

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Car Loan Moga

Best Banks for Car Loan in Moga

Feature HDFC Bank ICICI Bank
Kotak Mahindra Bank
Interest Rate (p.a.) 7.35 % - 7.95 % 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 Moga Features

car loan MogaBuying a vehicle is a great experience, but not many people have the money to pay for the vehicle. A car loan is a scheme that offers funds to people for buying a vehicle. It is a scheme that helps a person to convert the dream of having a vehicle in reality. just with minimum documentation, you can get a car loan in few steps. you can repay the loan amount according to the schedules of the bank.

Click here for HDFC car loan

Car Loan Moga Interest Rate

Car loan interest rates change every time, again and again, so it’s important to monitor them. Your loan’s interest rate impacts the amount you’re going to pay for the month to month.

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

Car Loan Moga Documents Required

Documents required for car loan are as followed:

  1.  Passport copy, PAN Card, Voters ID card, Driving License are required.
  2. For Salaried– Latest 3-month salary slip with form 16 / For Self Employed- Latest Income tax returns required.
  3. Ration card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy is required to apply for the loan.
  4.  Last 6 months bank statement.

Apply for a Car Loan

Car Loan Moga Eligibility Criteria

The car loan eligibility requirements are as followed in Moga:

  1. The borrower must be an Indian citizen.
  2. The minimum applicant age  21 yrs as well as older than 60 yrs at loan maturity to the avail car loan.
  3. The applicant must have a good annual income that properly demonstrates the applicant’s capacity for loan repayment the amount he borrows.
  4. Besides that,  the applicant must have secure employment working the current job status of one year as well as regular income in the account.
  5. More importantly, the applicant must possess a mobile number that marks his address and the occupation of that address for an expected duration of time.
  6. Besides that, the borrower should have some source of income.
  7. After that, the monthly income of the applicant should be Rs. 18k minimum.
  8. Moreover, the borrower should be in the business for two years.
  9. After that, the borrower should be from two years in employment as well as from 1 year in the same company.

Car Loan for Major Car Manufacturers in Moga


Processing Fees & Prepayment Charges on Car Loan Moga

check here for the processing Fees and Prepayment charges on a car loan.

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 Moga

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.

Car Loan Moga Contact Number

For instant help and any more queries, you can call 9878981166.

Pre Calculated EMI Table for Car Loan Moga

check here of Pre calculated EMI table for a car loan.

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 Moga

Moga is one of the 20 districts in the state of Punjab. On 24 November 1995, Moga became the 17th district of Punjab. Moga district is also known as the NRI district.

Car Loan EMI Calculator

Repaying the loans in EMIs will not affect our monthly budget. as well as paying in time will increases our Cibil score. you can Calculate EMI with free of cost.

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