Best Banks for Car Loan in Nagda
Car Loan Nagda Features
⍟ 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
Car Loan Nagda 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 |
Car Loan Nagda EMI Calculator
Car Loan Nagda 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 |
Car Loan Nagda Fees and Charges: Leading Banks – Apr 20 2024
| 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 |
| Private 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 Nagda 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. |
How to Get the Best Car Loan Interest Rates in Nagda
- Choose a shorter repayment time – Because the monthly EMI (equated monthly instalment) is low, many car loan applicants believe that lengthier payback periods are preferable. 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 Nagda, 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. 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 Nagda?
- 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. 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.
Which Bank in Nagda Offers the Best Car Loans?
Car Loan for Major Car Manufacturers in Nagda
TABLE WILL APPEARProcessing Fees / Prepayment Charges on Car Loan Nagda
| 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 Nagda
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 Nagda. 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; however, if your CIBIL score is strong, you may be required to pay a low-interest rate. As a result, a CIBIL score is an important factor to consider when applying for a vehicle loan.
Car Loan Nagda Contact Number
Please contact 9878981166 if you have any queries for a car loan Nagda.
Pre Calculated EMI Table for Car Loan Nagda
| 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 Nagda
Nagda is an industrial town which is located in the state of Madhya Pradesh in India. Nagda is also an administrative headquarter of Nagda town. Nagda lies in the Malwa which is in the western region of Madhya Pradesh and is located on the bank of the Chambal River.
Car Loan Banks in Nagda
| BANK NAME | BANK ADDRESS | BANK IFSC CODE |
| BANK OF BARODA | NAGDA ROAD UNHEL TEHSIL NAGDA DIST UJJAIN MADHYA PRADESH 456221 | BARB0UNHELX |
| DENA BANK | NAGDA,DIST. DHAR,MADHYA PRADESH, | BKDN0810694 |
| BANK OF INDIA | 244, JAWAHAR MARG, 1ST FLR.NAGDA, DISTRICT UJJAIN, | BKID0009122 |
| CENTRAL BANK OF INDIA | 180 M.G.ROAD, KANTHED TRADE CENTRE, 1ST FLOOR, NAGDA DIST-UJJAIN, M.PRADESH-456335 | CBIN0282519 |
| CANARA BANK | CANARA BANK RUPSURI COMPLEX NEAR MAHAVIR BHAWAN JAWAHAR MARG NAGDA MADHYA PRADESH 456335 | CNRB0005564 |
| HDFC BANK | HDFC BANK LTD. LAND SURVEY NO. 605 1 & 605 2, JAWAHAR MARG, KOTA PHATAK NAGDA MADHYA PRADESH 456335 | HDFC0002449 |
| IDBI BANK | 218 JAWAHAR MARG UJJAIN | IBKL0001815 |
| Private BANK LIMITED | Private BANK LTD., 136, JAWAHAR MARG, NEAR KOTA PHATAK, NAGDA – 456335, UJJAIN DIST., MADHYA PRADESH. | ICIC0001436 |
| PUNJAB NATIONAL BANK | NATWARLAL SNEHI MARG, MAIN ROAD NEAR ADI GOUR DHARMASHALAN DISTT UJJAIN MP 456331 | PUNB0971900 |
| STATE BANK OF INDIA | 215,JAWAHER MARG BUS STAND NAGDA | SBIN0030370 |
| UCO BANK | PO BIRLAGRAMDISTT UJJAIN 456331 | UCBA0000102 |
| UCO BANK | M G ROADNAGDA CITY 456335 | UCBA0000471 |
| AXIS BANK | GROUND FLOOR,225,JAWAHAR MARG, NAGDA,DIST.UJJAIN, MADHYA PRADESH, PIN 456335 | UTIB0001961 |
FAQ’s About Nagda Car Loan
✅What repayment choices do I have for my Auto Loan?
You have three alternatives for repaying your loan in Nagda: Standing Instruction (SI), Electronic Clearing Service (ECS), and Post-Dated Cheques (PDCs).
✅Is it necessary to have a guarantor for a car loan?
Most lenders in Nagda will not require a guarantor to obtain a car loan. If your salary is less than the statutory minimum, lenders in Nagda 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.
