Car Loan Nareda

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Car Loan Nareda

Best Banks for Car Loan in Nareda

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 Nareda 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

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Car Loan Nareda

Car Loan Nareda 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 Nareda EMI Calculator

Car Loan Nareda 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 Nareda Fees and Charges: Leading Banks – May 23 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 Nareda Documents Required

Salaried Individual

Documents Required
Identity Proof (Any 1) Passport
Voter ID
Aadhar Card
Driving License
Address Proof (Any 1) Aadhar Card
Driving License
Electricity Bill
Date of Birth Proof(Any 1)
Birth Certificate
High School Marksheet
Driving Licence
Signature Proof(Any 1)
Bankers Verification
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

Documents Required
Identity Proof (Any 1) PAN Card
Voter ID
Aadhar Card
Address Proof (Any 1) PAN Card
Voter ID
Electricity Bill
Date of Birth Proof (Any 1) Birth Certificate
Driving Licence
Signature Proof (Any 1)
Bankers Verification
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

Documents Required
Identity Proof (Any 1) Driving Licence
PAN Card
Aadhar Card
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

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 Nareda

  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 Nareda view lengthier payback terms as an indication of a borrower’s low repayment capabilities, so they charge higher interest in Nareda.
  2. Research and compare offers by different lenders – You should explore and compare the benefits offered by different lenders in Nareda. This can help you figure out the lenders in Nareda that provide the best interest rates and which lender in Nareda to choose for a car loan.
  3. Maintain a modest debt-to-income ratio for a Car Loan – The debt-to-income ratio in Nareda measures how much of your income goes toward other loan repayments in Nareda. Lenders in Nareda take this into account when setting interest rates. So if your debt-to-income ratio is lower, you can get a car loan in Nareda easily.
  4. Car Loan in Nareda Maintain a good credit score – Lenders in Nareda will be pleased to offer you a car loan with cheaper interest rates if you have a good credit score. Lenders in Nareda consider a credit score of above 750 to be reliable. Many lenders in Nareda may give auto loans to people with bad credit, but they demand a higher interest rate for Car Loan Nareda.

How to Apply for a Car Loan in Nareda?

  1. Dialabank can be found by searching for it.
  2. Select auto loan from the loan section, then click the car loan link.
  3. The applicant will receive all vehicle loan information, including the option to select the city in which they wish to reside.

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Which Bank in Nareda Offers the Best Car Loans?

  1. SBI Bank
  2. AXIS Bank
  3. INDUSIND Bank
  4. UNION Bank
  5. ICICI Bank
  6. HDFC Bank

Car Loan for Major Car Manufacturers in Nareda


Processing Fees / Prepayment Charges on Car Loan Nareda

Category Details
Processing Charges
1999 - 4999 + Tax
No prepayment is allowed until 12 EMIs are paid
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 Nareda

  1. The candidate’s CIBIL must exceed 700.
  2. The loan lasts between 60 and 84 months.
  3. The applicant is provided with a minimum credit of Rs. 1 lakh. In addition, the supplement amount is twice the amount paid for the loan.
  4. The constables are not offered a car loan. Individuals with a CIBIL score of 0 and 1 are also considered good clients.
  5. The bank charges twice as much for this month when the payment is returned.

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Car Loan Nareda Contact Number

Call 9878981166 for Car Loan Nareda questions.

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Pre Calculated EMI Table for Car Loan Nareda

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 Nareda

Nareda is a site in the state of Rajasthan district of Jaipur. The area is covered by a Pin Code of 303105 and a population of 7479.

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FAQ’s About Nareda Car Loan

What’s the best time to purchase a car?

The best months to buy a car are the months of October, November, and December. Car dealerships generate sales quotas, often divided up into sales targets each year, quarterly and monthly. The three goals start to align late in the year.

Do you have to pay down on a car?

You’ll almost likely get a lower rate. An increased down payment speeds up the process and protects you and the lender. A down payment on a vehicle has various advantages. The higher the down payment, the lower the monthly payment, and the more depreciation and loss the loan is protected.

✅ Do you think you can pay off a car loan? What do you think?

In a given time frame, usually after three days of purchase, you can return a funding vehicle and cancel the contract, which depends on the car dealer. If the automobile has excessive miles of damage, the return policy is zero and will not be accepted by the dealer. You should know you will have to pay interest on your car loan.