Car Loan Morinda

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Car Loan Morinda

Best Banks for Car Loan in Morinda

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 Morinda Features

car loan morindaWithin a few minutes, you will receive a complete list of e-mails from lenders who will avail of your online car loan in Morinda. you will know the interest rates of different car loans. if your salaried then you will get a car loan at a good interest rate. if you were self-employed then you will get the car loan at attractive interest rates.

Apply for a car loan

We provide car loans starting at an attractive rate of interest to both self-employed as well as salaried individuals. We offer car loans on new and used cars.

Some key features of car loan in Morinda are the following:

  • Easy monthly repayment options are available for you.
  • Instantly car loan available
  • Loan Tenure period varies from 1-7 years
  • There is a provision of an affordable interest Rates offers to fulfill your desires.
  • There are no hidden or additional charges

Car Loan Morinda Interest Rates

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 Morinda Documents Required

Documents required for car loan are as followed:

For Salaried Individuals:

  1. Proof of Identification: Passport copy, PAN Card, Voters ID card, Driving License
  2. Income Proof: Latest 3-month salary slip with form 16
  3. Residence Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Bank Statement: Last 6 months.
  5. 2 passport size photographs(coloured)

For Self Employed Individuals:

  1. Identification Proof: Passport copy, PAN Card, Voters ID card, Driving License
  2. Income Proof: Latest ITR
  3. Address Proof(anyone): Ration card/ Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Bank Statement: Last 6 months.
  5. 2 passport size photographs(coloured)

Car Loan Morinda Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Applicants

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: 1 year in current employment and a minimum of 2 years of employment
  4. Minimum Annual Income: Rs.100000 net annual income

For Self-Employed Applicants

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: At least 3 years in business
  4. Minimum Annual Income: Net profit Rs. 60000 per annum for standard cars and Rs.100000 per annum for mid-sized and premium cars

Car Loan for Major Car Manufacturers in Morinda

TABLE WILL APPEAR

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Processing Fees / Prepayment Charges on Car Loan in Morinda

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 Morinda

CIBIL score reflects your credit history in the past as well as your defaults in repayment of your previous loans. A good credit score is considered as 750 and above as most of the financial institutions ask for a high credit score. Every bank and NBFC has different criteria for a minimum CIBIL score they require to process your Car Loan Morinda. A Lower CIBIL score than 750 can attract a higher rate of interest.

A very low CIBIL score can not be accepted your car loan application as it is the first thing a bank tracks before processing pf your car loan. Your record of previous loans is taken into consideration for a Car Loan Morinda. If there are any delay payments for previous loans, it will act as a hurdle for availing of a fresh loan.

Car Loan Morinda Agent Contact Number

To get help or clear your queries regarding the car loan in Morinda, you can call 9878981166.

Pre Calculated EMI Table for Car Loan Morinda

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 Morinda

Online Car Loan EMI Calculator

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About Morinda

Morinda is the city, located in the Rupnagar district in the Indian states of Punjab. It is located on Ludhiana-Chandigarh Highway NH95. It occupies 9 square kilometers.

It is known in the local region for housing one of the 23 co-operative sugar mills, It is also called Baganwaala, “The City of Orchards”.

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