Best Banks for Car Loan in Narnaund
Feature | HDFC Bank | Private 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 Narnaund 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 Narnaund 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 Narnaund EMI Calculator
Car Loan Narnaund 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 Mumbai Fees and Charges: Leading Banks – Apr 27 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 Narnaund 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 Narnaund
- 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 Narnaund view lengthier payback terms as an indication of a borrower’s low repayment capabilities, so they charge higher interest in Narnaund.
- Research and compare offers by different lenders – You should explore and compare the benefits offered by different lenders in Narnaund. This can help you figure out the lenders in Narnaund that provide the best interest rates and which lender in Narnaund to choose for a car loan.
- Maintain a modest debt-to-income ratio for a Car Loan – The debt-to-income ratio in Narnaund measures how much of your income goes toward other loan repayments in Narnaund. Lenders in Narnaund take this into account when setting interest rates. So if your debt-to-income ratio is lower, you can get a car loan in Narnaund easily.
- Car Loan in Narnaund Maintain a good credit score – Lenders in Narnaund will be pleased to offer you a car loan with cheaper interest rates if you have a good credit score. Lenders in Narnaund consider a credit score of above 750 to be reliable. Many lenders in Narnaund may give auto loans to people with bad credit, but they demand a higher interest rate for Car Loan Narnaund.
How to Apply for a Car Loan in Narnaund?
- You may search for Dialabank.
- From the loan section, select Auto Loans, and click on the Auto Loan link.
- Any information concerning the vehicle loan, including the choice of the town in which the applicant wants to reside, will be given.
Which Bank in Narnaund Offers the Best Car Loans?
Many banks and NBFCs, like Private, SBI and HDFC, offer vehicle loans in Narnaund. However, the finest lender in Narnaund is one that provides you with a Car Loan Narnaund at a reasonable interest rate and can provide the funds as quickly as possible.
Car Loan for Major Car Manufacturers in Narnaund
TABLE WILL APPEARProcessing Fees / Prepayment Charges on Car Loan Narnaund
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 Narnaund
- CIBIL must exceed 700 of the candidate.
- The loan is from 60 to 84 months.
- A minimum credit of Rs. 1 lakh is given to the applicant. Moreover, the extra charge is twice that of the loan.
- There is no car loan available to constables. Persons with CIBIL scores of 0 and 1 are also regarded as good customers.
- When the payment is returned, the bank charges twice as much for this month.
Car Loan Narnaund Contact Number
Questions to Car Loan Narnaund by calling 9878981166.
Pre Calculated EMI Table for Car Loan Narnaund
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 Narnaund
Narnaund is a city in Hisar Haryana District, India. Many banks and NBFCs, like Private, SBI and HDFC, offer vehicle loans in Narnaund. However, the finest lender in Narnaund is one that provides you with a Car Loan Narnaund at a reasonable interest rate and can provide the funds as quickly as possible. You can visit our official website for more information on a car loan in Narnaund.
FAQ’s About Narnaund Car Loan
✅ 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.
✅ What’s the best time in Narnaund to purchase a car?
The best months to buy a car in Narnaund are 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 a down payment on a car in Narnaund?
You’ll almost likely get a lower rate. An enhanced 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 preserved.