Car Loan Nadapuram

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Car Loan Nadapuram

Best Banks for Car Loan in Nadapuram


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Car Loan Nadapuram Features

An automobile has become a necessity in today’s world, so much so that we can’t picture our lives without one. Unfortunately, we are unable to purchase one for ourselves due to financial restrictions. A vehicle loan may make your dreams come true, and you can purchase a car of your own.

A car loan is a type of financial assistance provided to consumers by commercial banks and non-bank financial institutions (NBFCs). Banks give the funds for the vehicle’s purchase. As a result, you get the best interest rates with the least amount of paperwork.

Loan Approval in 30 Minutes
Lowest Rate of Interest
Up to 100% on Road Loan
Minimum Documentation
Paperless Process
Flexible Repayment
Zero Foreclosure
24 x 7 Online Payment Facility
No Hidden Charges


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Car Loan Nadapuram

Car Loan Nadapuram Eligibility Criteria

Salaried Individual
Age – 21 years to 60 years
Net Monthly Income – Minimum ₹ 20,000
Employment Duration – 1-year minimum
Income Eligibility – Based on Form 16 and salary slip
Self-Employed Individuals
Age – 21-65 years of age
Minimum ITR – Rs.2 lakh
Employment Duration – Minimum 3 years
Income Eligibility – Depends on the latest Income Tax Returns
Self-Employed Non-Individuals (Company/Partnership)
Minimum ITR – Rs. 2 lakh
Employment Duration – 3 years minimum
The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
At least 6-month vintage
Average Quarterly Balance – 2 quarters balance at a minimum of Rs.1 lakh
Maximum Loan Amount – 3 times the Average Quarterly Balance of the last 2 Quarters

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Car Loan Nadapuram EMI Calculator

Car Loan Nadapuram Fees & Charges

Charges New Car Loan Used Car Loan
Interest Rate

7.35% per annum

11.80% p.a. to 13.80% p.a.
Car loan Processing fees 0.5% 0.5%
Issuance of Duplicate Repayment Schedule Charges Around Rs.500 Around Rs.500
Foreclosure Charges 0.06 0.06
Penal Interest 2% PM 2% PM
Car loan Part Payment charges 6% of the amount 6% of the amount
Cheque/Instrument Swap Charge Around Rs.500 Around Rs.500
Documentation Charge Around Rs. 500 Around Rs. 500
Issuance of Duplicate No Dues Certificate Charges Around Rs. 500 Around Rs. 500
Registration Certification Collection Charge Around Rs. 200 Around Rs. 200
Cheque Bounce/Instrument Return Charges Around Rs. 500 Around Rs. 500
Issuance of Duplicate Statement Charges Around Rs. 500 Around Rs. 500
Loan Cancellation/Re-booking Charges Around Rs. 1000 Around Rs. 1000
Issuance of Credit Report Around Rs. 50 Around Rs. 50

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Car Loan Nadapuram Fees and Charges: Leading Banks – May 26 2022

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 Nadapuram Documents Required

Salaried Individual

Category
Documents Required
Identity Proof (Any 1) Passport
Voter ID
Aadhar Card
Driving License
Address Proof (Any 1) Aadhar Card
PAN
Driving License
Electricity Bill
Date of Birth Proof(Any 1)
Passport
Birth Certificate
High School Marksheet
Driving Licence
Signature Proof(Any 1)
PAN
Bankers Verification
Passport
Income Proof
Salary Slip and latest Form No.16
Bank Statement
Last 6 month Bank statement
Employment Continuity Proof
Job card by NREGA
ITR of Form no. 16
Salary Slip mentioned with joining date
Letter of Appointment

 

Self-Employed Individuals

Category
Documents Required
Identity Proof (Any 1) PAN Card
Passport
Voter ID
Aadhar Card
Address Proof (Any 1) PAN Card
Voter ID
Passport
Electricity Bill
Date of Birth Proof (Any 1) Birth Certificate
Passport
Driving Licence
PAN
Signature Proof (Any 1)
PAN
Bankers Verification
Passport
Bank Statement
Bank statement of last 6 months
Employment Continuity Proof
Latest ITRs
Shop & Establishment Act Certificate
Shop & Establishment Act Certificate
Sales Tax or VAT Certificate
Business Proof
Registration Certificate
Telephone Bill/Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate

 

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

Category
Documents Required
Identity Proof (Any 1) Driving Licence
PAN Card
Aadhar Card
Passport
Address Proof (Any 1)
Electricity Bill/Telephone Bill
Aadhar Card
Driving License
Voter ID
Income Proof
Audited Balance Sheet
P&L Account
ITR for the previous 2 years
Bank Statement Last 6 month
Business Continuity Proof
Company ITR of the last 2 years
Audited Balance Sheet
TAX registration Certificate
Current Account Statement
Additional documents
Letter of Authority or PAN Card

 

2. Private Limited/Limited Companies

Category
Documents Required
Identity Proof
The latest copy of MOA and AOA
Copy of Incorporation
Address Proof (Any 1)
SSI/MSME Registration Certificate
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
Sales Tax Certificate
Income Proof
Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Previous 6 Months
Business Continuity Proof
P&L account and
ITR of the Company of the past 2 years
Audited Balance Sheet
Shop & Establishment Act Certificate
Additional documents
List of Shareholding partners and Directors
Board Resolution
PAN Card
Certificate of Commencement of Business for Ltd. Co.

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How to Get the Best Car Loan Interest Rates in Nadapuram

  • Choose a shorter repayment time – Because the monthly EMI (equated monthly instalment) is low, many car loan applicants believe lengthier payback periods are preferable. Unfortunately, they don’t seem to understand that lenders see lengthier payback terms as an indication of a borrower’s restricted repayment abilities. Therefore they charge higher interest rates. If you want to save money on your auto loan, consider making shorter payments.
  • Investigate and contrast the advantages offered by various lenders – If you want to get a good deal on a car loan, you must first study and compare the benefits offered by various lenders. This can help you determine which lenders have the best interest rates.
  • Maintain a low debt-to-income ratio – The debt-to-income ratio measures how much of an applicant’s income goes toward loan repayment, and lenders take this into account when calculating interest rates. Therefore, if your debt-to-income ratio is lower, you have a better chance of obtaining a vehicle loan with a lower interest rate.

How to Apply for a Car Loan in Nadapuram?

Many banks and NBFCs, like ICICI, SBI and HDFC, offer vehicle loans in Nadapuram. However, the finest lender in Nadapuram is one that provides you with a Car Loan in Nadapuram at a reasonable interest rate and can provide the funds as quickly as possible. Therefore, it is always better to compare your vehicle loans from many lenders in Nadapuram before applying for one that meets all of your needs.

  • Dialabank is the name of our website.
  • Choose the automobile loan option from the drop-down menu.
  • Fill up the blanks with details about your automobile and salary.
  • Please wait for our relationship manager to reach you at the phone number you provided. Also, please contact our relationship managers at 9878981166 if you have any questions regarding the loan.
  • You must go to the bank in person to acquire a vehicle loan offline, which may be difficult for you.

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Which Bank in Nadapuram Offers the Best Car Loans?

Many banks and NBFCs, like ICICI, SBI and HDFC, offer vehicle loans in Nadapuram. However, the finest lender in Nadapuram is one that provides you with a Car Loan in Nadapuram at a reasonable interest rate and can provide the funds as quickly as possible. Therefore, it is always better to compare your vehicle loans from many lenders in Nadapuram before applying for one that meets all of your needs.

Car Loan for Major Car Manufacturers in Nadapuram

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Nadapuram

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

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CIBIL Score Required for Car Loan in Nadapuram

The CIBIL score assesses your capacity to repay your obligations. A better credit score shows a good credit history and simplifies the auto loan application process. In general, banks and NBFCs consider a credit score of 750 or above to be sufficient for approving your loan application in Nadapuram. However, this score may fluctuate from bank to bank. If your CIBIL score is less than the required number, you will be forced to pay a high-interest rate on the loan amount.


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Car Loan Nadapuram Contact Number

Please contact 9878981166 if you have any queries concerning a car loan.


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Pre Calculated EMI Table for Car Loan Nadapuram

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 Nadapuram

Nadapuram is a town located in Kozhikode District of Kerala. The population of this place is 40,230.


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Car Loan Banks in Nadapuram

BANK NAME BANK ADDRESS BANK IFSC CODE
CANARA BANK NP VI1244, A-18, I FLOOR, M J A C SHOPPING COMPLEX, TELLICHERRY ROAD,673504 CNRB0000828
FEDERAL BANK CROWN BUILDING, MAIN ROAD NADAPURAM, KOZHIKODE DIST. FDRL0001568
HDFC BANK HDFC BANK LTD KALLACHI ROAD NADAPURAM HDFC0002325
IDBI BANK NADAPURAM BUS STAND, NADAPURAM P O,KOZHIKODE 673504 IBKL0114NUB
ICICI BANK LIMITED ICICI BANK LTD CITY TOWER OPP HP PETROL PUMP KALLACHI ROAD NADAPURAM KOZHIKODE KERALA -673504 ICIC0002667
KOZHIKODE DISTRICT COOPERATIVE BANK LTD MOYILOTH BUILDING, MOYILOTH MUKKU, P.O. NADAPURAM, KOZHIKODE, PIN 673 504 KDCB0000058
PUNJAB NATIONAL BANK NK COMPLEX, OPP BUS STAND PUNB0432000
SYNDICATE BANK NP 10698, KALLACHI, NEAR KALLACHI PETROL STATION, NADAPURAM KATTIADI ROAD, NADAPURAM, DIST – KOZHIKODE KERALA INDIA -673506 SYNB0004419

FAQ’s About Nadapuram Car Loan

✅What repayment choices do I have for my Auto Loan?

You have three alternatives for repaying your loan: Standing Instruction (SI), Electronic Clearing Service (ECS), and Post-Dated Cheques (PDCs). It is normally recommended that you return your loan using the first two alternatives because they are faster and have a smaller risk of error, which PDCs do not have.

✅Is it necessary to have a guarantor for a car loan?

Most lenders in Nadapuram will not require a guarantor to obtain a car loan. However, if your salary is less than the statutory minimum, lenders in Nadapuram may demand you to provide a guarantee or co-applicant to show that you will be able to repay the loan.

✅Where can I get a Car Loan Interest Calculator?

You can use the EMI calculator on the Dialabank website or the lending bank’s website. Enter different interest rates to calculate the EMIs. Filling up a loan application will ask you to enter basic information such as your salary, company, and job experience, depending on which interest rates will be presented.