Car Loan Narayanpet

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Car Loan Narayanpet

Best Banks for Car Loan in Narayanpet

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

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Car Loan Narayanpet Features

With a car loan, you may make your goal of owning a car a reality. It is the ideal alternative for people who want to buy a car but don’t have enough money. It’s a straightforward loan with immediate approval. So take out a car loan and go for a joy ride in your own vehicle.

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 Narayanpet

Car Loan Narayanpet 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 Narayanpet EMI Calculator

Car Loan Narayanpet 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 Narayanpet Fees and Charges: Leading Banks – May 28 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


car loan

Car Loan Narayanpet 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 Narayanpet

  1. Choose a shorter repayment for a Car Loan – People believe that lengthier repayment terms are better as EMIs for such a car loan is low. However, they don’t seem aware that lenders in Narayanpet view lengthier payback terms as an indication of a borrower’s low repayment capabilities, so they charge higher interest in Narayanpet.
  2. Research and compare offers by different lenders – You should explore and compare the benefits offered by different lenders in Narayanpet. This can help you figure out the lenders in Narayanpet that provide the best interest rates and which lender in Narayanpet to choose for a car loan.
  3. Maintain a modest debt-to-income ratio for a Car Loan – The debt-to-income ratio in Narayanpet measures how much of your income goes toward other loan repayments in Narayanpet. Lenders in Narayanpet take this into account when setting interest rates. So if your debt-to-income ratio is lower, you can get a car loan in Narayanpet easily.
  4. Car Loan in Narayanpet Maintain a good credit score – Lenders in Narayanpet will be pleased to offer you a car loan with cheaper interest rates if you have a good credit score. Lenders in Narayanpet consider a credit score of above 750 to be reliable. Many lenders in Narayanpet may give auto loans to people with bad credit, but they demand a higher interest rate for Car Loan Narayanpet.

How to Apply for a Car Loan in Narayanpet?

  1. Search for Dialabank
  2. From the loan section, select auto loan, then click the car loan link.
  3. The applicant will be sent all of the vehicle loan information, including the chance to choose the city in which they want to live.

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Which Bank in Narayanpet Offers the Best Car Loans?

Many banks and NBFCs, like ICICI, SBI and HDFC, offer vehicle loans in Narayanpet. The finest lender in Narayanpet is one that provides you with a Car Loan Narayanpet at a reasonable interest rate and can provide the funds as quickly as possible.

  1. Car Loan from HDFC
  2. Yes Bank Car Loan Kotak Mahindra Car Loan
  3. Axis Bank Car Loan ICICI Bank Car Loan ICICI Bank Car Loan
  4. Car Loan from State Bank of India
  5. Car Loan from Canara Bank
  6. Car Loan from Indusind Bank

Car Loan for Major Car Manufacturers in Narayanpet

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Narayanpet

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

car loan

CIBIL Score Required for Car Loan in Narayanpet

  1. The CIBIL of the candidate must be greater than 700.
  2. The loan will last anywhere from 60 to 84 months.
  3. Minimum credit of Rs. 1 lakh is available to the applicant. Furthermore, the amount of the top-up is twice the amount of the loan that has been paid.
  4. A car loan is not available to constables. People with a CIBIL score of 0 or 1 are also considered to be good customers.
  5. If the instalment is returned, the bank will charge you twice as much for that month.

car loan

Car Loan Narayanpet Contact Number

Call 9878981166 if you have any questions about Car Loan Narayanpet.


car loan

Pre Calculated EMI Table for Car Loan Narayanpet

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 Narayanpet

Narayanpet is a town in the Narayanapet District of Telangana, India. This town has a population of 41,752.


car loan

Car Loan Banks in Narayanpet

BANK NAME BANK ADDRESS BANK IFSC CODE
ANDHRA PRADESH GRAMEENA VIKAS BANK DOOR NO.4873,MAIN ROAD,NARAYANPET, P.O.NARAYANPETA,509210 APGV0007171
ANDHRA PRADESH GRAMEENA VIKAS BANK RAVULAPALLI ROAD, MADDUR BRANCH, MADDUR(M), MAHABUBNAGAR (D) 509411 APGV0007188
ANDHRA PRADESH GRAMEENA VIKAS BANK H. NO. 10110, SRI RAM NAGAR, DHANWADA, DHANWADA, 509205 APGV0007207
CANARA BANK 1-1-5, HIGH SCHOOL ROAD, CHORASTHA BAZAR, NARAYANPET, DIST MAHBHUBNAGAR, (AP) – 509210 CNRB0001407
HDFC BANK HDFC BANK LTD., 1-6-63 – A, 1ST FLOOR, HYDERABAD ROAD, NARAYANPET, MAHBUBNAGAR ANDHRA PRADESH 509210 HDFC0003328
ICICI BANK LIMITED ICICI BANK LTD., 1-39, CHINNAJATRAM VILLAGE – 509205, NARAYANPET MANDAL, MAHBUBNAGAR DIST., ANDHRA PRADESH ICIC0002217
ICICI BANK LIMITED ICICI BANK LTD., 3-144, KOLAMPALLY VILLAGE – 509205, NARAYANPET MANDAL, MAHBUBNAGAR DIST., ANDHRA PRADESH ICIC0002220
TELANGANA STATE COOP APEX BANK DCC BANK LTD, BRANCH NARAYANPETSHATHAVAHANA COLONY NARAYANPET509 210 TSAB0014016

FAQ’s About Narayanpet Car Loan

What is the best time to buy a car in Narayanpet?

The months of October, November, and December are the best months to buy a car in Narayanpet.

Should you put a down payment on a Narayanpet car loan?

Almost probably, you’ll get a lower interest rate. A larger down payment accelerates the process of accumulating equity and protects both you and the lender. There are various advantages to making a down payment on a vehicle. The larger the down payment, the lower your monthly payment would be—and the lender will be protected against depreciation and loss.

✅ Do you think you’ll be able to pay off a car loan?

You may be able to return a financed vehicle and cancel the agreement within a particular time window, usually three days after purchase, depending on the auto dealer. If the car has excessive miles or damage, the return policy is null and void, and the dealership will not accept the vehicle. You should be aware that your car loan will need you to pay interest.