Car Loan Nagda

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Car Loan Nagda

Best Banks for Car Loan in Nagda


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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


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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

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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

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Car Loan Nagda Fees and Charges: Leading Banks – May 21 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 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.

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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.

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Which Bank in Nagda Offers the Best Car Loans?

 

Car Loan for Major Car Manufacturers in Nagda

TABLE WILL APPEAR

Processing 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

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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.


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Car Loan Nagda Contact Number

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


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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.


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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
ICICI BANK LIMITED ICICI 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.