Best Banks for Car Loan in Morbi
Car Loan Morbi Features
Do you need to buy a new car? Facing a shortage of funds? No need to worry now. A Car Loan is a simple and affordable way to finance your car at low-interest rates and allow minimal paperwork. Similar to other loans, the qualifying requirements are also not strict. When a person has a secure source of income and required documentation, the banks and NBFCs quickly offer car loans without any difficulty. So prepare yourself to buy yourself a new car.
Car Loan Morbi Interest Rate
Bank
Processing Fee
HDFC Bank Car Loan
(1999 - 4999) + Tax
Axis Bank Car Loan
1 % to 2.50%
Nil
Private Bank Car Loan
0.25% to 1.50%
SBI Car Loan
500/- to 0.50%
Nil
Kotak Car Loan
1% to 2%
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 Morbi Documents Required
Documents required for car loan are as followed:
For Salaried Individuals:
- Proof of Identification: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: Latest 3-month salary slip with form 16
- Residence Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
For Self Employed Individuals:
- Identification Proof: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: Latest ITR
- Address Proof(anyone): Ration card/ Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
Car Loan Morbi Eligibility Criteria
The car loan eligibility requirements are as followed:
You should be at least 21 years of age to apply for a car loan. In addition, the maximum age of a person should be 65 years at the time of maturity of the loan.
For Salaried: You should be having a minimum of 2 years of employment, and you should be working for at least 1 year in your current employment. The minimum annual salary required is Rs. 100000 as net annual income.
For Self Employed: You should be in the business for at least 3 years. A net profit of at least Rs. 60000 p.a. should be there for standard cars and Rs. 100000 p.a. for mid-sized and premium cars.
Car Loan for Major Car Manufacturers in Morbi
TABLE WILL APPEAR
Processing Fees & Prepayment Charges on Car Loan Morbi
Category
Details
Processing Charges
Prepayment
Preclosure
Stamp Duty
Cheque Bounce Chgs
Floating Rate of Interest
Not Applicable
Overdue EMI Interest
Amortisation Schedule Chgs
Rs 200 + GST
CIBIL Score Required for Car Loan in Morbi
CIBIL score is an important criterion based on which banks and NBFCs approve any customer a car loan. For each lending institution, the minimum criteria of a CIBIL score for a car loan is different. But, generally speaking, a score above 800 is considered decent for any individual to be eligible for a car loan application.
One must clear all the pending debts to maintain a good credit score. A default in your credit score may hinder your opportunities for availing of a fresh loan in the future.
Car Loan Morbi Contact Number
To get an instant car loan, you can visit DialaBank or call 9878981166 to get personalized assistance. Our relationship managers are well trained and will assist you in the best way possible to provide you with the deal most suited for you.
Pre Calculated EMI Table for Car Loan Morbi
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
We have eased out the procedure to calculate your monthly EMI.
Car Loan EMI Calculator
Online Car Loan EMI Calculator
About Morbi
Morbi or Morvi is a metropolis and a municipality in Morbi district in the Indian state of Gujarat. It is located on the Kathiawar peninsula. In 2011, the city’s populace was determined to be 194,947. The metropolis of Morbi is located on the Machhu River, 35 km from the sea and 60 km from Rajkot.
Special Note: Banks do not provide Car Loans to bad credit holders, but one can quickly fulfil their money requirement with Gold Loan.
Car Loan EMI Calculator
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