Car Loan Nainital

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Car Loan Nainital

Best Banks for Car Loan in Nainital

Feature HDFC Bank ICICI Bank
Kotak Mahindra Bank
Interest Rate (p.a.) 7.35 % - 7.95 % 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 Nainital Features

Car Loan NainitalThe Nainital Bank Limited/ known as Nainital Bank/NTB  is a scheduled commercial bank set up in 1922. The Nainital Bank is a subsidiary of (BOB)Bank of Baroda. The Nainital Bank Limited has expanded to Uttar Pradesh as well as Uttarakhand and had over 139 branches in Rajasthan, Delhi as well as Haryana. The Bank has become Ten Thousand Crore (TTC) Company besides that aims to be the most customer-centric bank of the country it is listed as a scheduled bank by the Reserve Bank of India.

Car Loan Nainital Interest Rate

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Car loan interest rates change every time, again and again.

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

Car Loan Nainital Documents Required

Documents required for car loan are as followed:

For Salaried Employee

  1.  Passport copy, PAN Card, Voters ID card, Driving License are required.
  2. Income Proof: Latest 3-month salary slip with form 16
  3. Ration card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy is required to apply for the loan.
  4.  Last 6 months bank statement.

For Self Employed

  1.  Passport copy, PAN Card, Voters ID card, Driving License are required.
  2. Income Proof: Latest Income tax returns of the applicant
  3. Ration card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy is required to apply for the loan.
  4.  Last 6 months bank statement.

Car Loan Nainital Eligibility Criteria

The car loan eligibility requirements are as followed in Nainital:

For Salaried Employee

  1. Firstly, the borrower must be an Indian citizen.
  2. Secondly, the minimum applicant age  21 yrs as well as older than 60 yrs at loan maturity to the avail car loan.
  3. Thirdly, He/she must have a good annual income that properly demonstrates his/her capacity for loan repayment the amount he borrows.
  4. Besides that,  the applicant must have secure employment working the current job status of one year as well as regular income in the account.
  5. More importantly, he must possess a mobile number that marks his address and the occupation of that address for an expected duration of time.
  6. Besides that, the borrower should have some source of income.
  7. After that, the monthly income of the applicant should be Rs. 18k minimum.
  8. After that, the borrower should be from two years in employment as well as from 1 year in the same company.
  9. Finally, CIBIL scores of the borrower should be more than 750.

For Self Employed

  1. Firstly, the borrower must be an Indian citizen.
  2. Secondly, the minimum applicant age  21 yrs as well as older than 60 yrs at loan maturity to the avail car loan.
  3. Thirdly, He/she must have a good annual income that properly demonstrates his/her capacity for loan repayment the amount he borrows.
  4. Besides that,  the applicant must have secure employment working the current job status of one year as well as regular income in the account.
  5. More importantly, he must possess a mobile number that marks his address and the occupation of that address for an expected duration of time.
  6. Besides that, the borrower should have some source of income.
  7. Moreover, the borrower should be in the business for two years.
  8. Finally, CIBIL scores of the borrower should be more than 750

Car Loan for Major Car Manufacturers in Nainital

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TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Nainital

check here for the processing Fees and Prepayment charges on a car loan.

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 Nainital

CIBIL score plays a key role while getting the loan. if your Cibil score is between 750-900. then you will get the quick loan approvals. if the Cibil score is less than 700 then your application will be pending. so, check your Cibil score before you apply for the loan. if you pay your EMIs in time then your Cibil score will be increased. if you do not repay Your EMI your Cibil score will be reduced. the applicant has to pay monthly EMIs according to there schedule of the bank.

Click here for Axis car loan

Car Loan Nainital Contact Number

For instant help and any more queries, you can call 9878981166. Or visit Dialabank

Pre Calculated EMI Table for Car Loan Nainital

check here of Pre calculated EMI table for a car loan.

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 Nainital

Nainital is also known as the “the city of lakes” is surrounded by seven lakes lies in the district of Nainital. Uttrakhand’s designated High Court is established in Nainital. Covered by tranquil forests and the adorable lake Nainital is the center of attraction for tourists throughout the year. In winters the city sees spell of cold and snow beautifully covering the city and one of the famous temples of Hindu Deity Naina Devi temple is situated in Nainital.

Car Loan EMI Calculator

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Repaying the loans in EMIs will not affect our monthly budget. as well as paying in time will increases our Cibil score.

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