Car Loan Mysore

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Buy your dream Car

Rates as low as 7.35%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

Best Banks for Car Loan in Mysore

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 Mysore Features

car loan mysore

Having one’s own car is a necessity today, but it’s not always likely to have the required funds. This is where Dialabank helps you to avail car loans for both, brand-new as well as second-hand cars, and for both ex-showroom and on-road prices. If you are a resident of Mysore aka Mysuru, you get access to a range of interesting features of a car loan while having the liberty to pick your own tenure:

  • Car loans are accessible at low-interest rates, which varies from bank to bank.
  • Almost all major banks and NBFCs give car loans in Mysore in your vicinity
  • The documentation process is fast and easy.
  • Car loans are readily available through DialaBank since we ensure to fulfill your dream with great convenience.

Car Loan Mysore Interest Rates

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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
1%
Nil
Andhra Bank Car Loan
Nil
Nil

 

To check Personal Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates

Car Loan Mysore Documents Required

For Salaried Individuals:

    1. Identity Proof: Passport copy, Electoral Photo ID card, Driving License, or PAN Card can be used as Identity proof.
    2. Income Proof: Last 3 months salary slip or six months salary slip along with ITR.
    3. Address Proof: Life Insurance Policy, Driving License, PAN Card, Electoral Photo ID Card, and, Electricity Bill are valid address proofs.
    4. Bank Statement for the previous six months.

For Self-employed individuals:

      1. Identity Proof: Passport copy, Electoral Photo ID card, Driving License, or PAN Card can be used as Identity proof.
      2. Income Proof: Income Tax Return.
      3. Address Proof: Life Insurance Policy, Driving License, PAN Card, Electoral Photo ID Card, and, Electricity Bill are valid address proofs.
      4. Bank Statement for the previous six months.

Car Loan Mysore Eligibility Criteria

The car loan eligibility requirements are as followed in Mysore:

For the salaried applicants:

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment:
  •  1 year in current employment
  • Minimum of 2 years of employment

4. Minimum Annual Income: For Salaried Rs 100000 net annual income.

For the self-employed applicants:

  1. Minimum age: 30 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: At least three years in Business is required.
  4. Minimum Annual Income:
  • Net profit of  Rs. 60,000 per annum for standard cars
  • Net profit of Rs.1,00,000 per annum for mid-sized and prime cars

How to Apply for Car Loan in Mysore?

Availing a car loan in Mysore through the Dialabank website an easy process. Follow the following steps to avail the best offers:

  • Visit our website.
  • Click on the car loan option available in the menu
  • Fill in the details regarding the car type and your income
  • Wait as our relationship manager will soon get in touch with you on your provided number.
  • You may also contact our relationship managers on the number 9878981166 in case of any queries regarding the loan.
  • For availing a car loan offline you will have to visit the branch personally, which might turn hectic for you. So we advise you to do it online!

Car Loan for major car manufacturers in Mysore

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan  in Mysore

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 Mysore

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The CIBIL score is committed to your ability to pay off your credits. A higher credit score means good credit history and makes your car loan application process smooth and easy. Mostly, banks and NBFCs hold a credit score of 750 and above as a good score to approve your loan application process in Mysore. This score may again range from bank to bank. In case of a lower CIBIL score than the necessary value, you will be required to pay a high rate interest rate on the loan amount. Thus, a CIBIL score is a significant factor in a car loan.

Car Loan Mysore Contact Number

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

Pre Calculated EMI Table for Car Loan Mysore

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 Mysore

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In the state of Karnataka, Mysore aka Mysuru is known as its cultural capital due to its cultural ambiance and achievements, its heritage, and palaces such as the Mysore Palace, and its festivities during the occasion of Dasara when it attracts tourists from all over the world.

Car Loan EMI Calculator Mysore

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