Car Loan Palakkad

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Best Banks for Car Loan in Palakkad

Feature	HDFC Bank	Private Bank	Kotak Mahindra Bank
Interest Rate	8% - 8.4 %	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 Palakkad Features

Planning to buy a car? Do not have sufficient funds for it? If yes, then you can consider availing a Car Loan. It is a finance scheme that offers cash to people required for buying a car. The loan amount acquired through this system can be utilized for buying any car according to need.

We offer car loans starting at an easy rate of interest with easier repayment facilities. We provide car loans on new as well as old cars to both salaried and self-employed individuals.

Some of the features of car loan Palakkad are:

Up to 90-95%% of the funding available for new cars.
Equated Monthly Instalment is worked out for repayment.
The loan period is usually between 1 to 7 years.
Early settlement of the pending amount is available subject to the pre-payment penalty.
Up to 80-85%% of the funding available for used cars
The car loan interest rate is calculated on the basis of compound interest.

Car Loan Palakkad Interest Rates

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

Apply for a Car Loan

Car Loan Palakkad Documents Required

Documents required for car loan are as followed:

For Salaried Individuals:

Proof of Identification: Passport copy, PAN Card, Voters ID card, Driving License
Income Proof: Latest 3-month salary slip with form 16
Residence Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
Bank Statement: Last 6 months.

For Self Employed Individuals:

Identification Proof: Passport copy, PAN Card, Voters ID card, Driving License
Income Proof: Latest ITR
Address Proof(anyone): Ration card/ Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
Bank Statement: Last 6 months.

Car Loan Palakkad Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Applicants

Minimum age: 21 years
Maximum age at loan maturity: 65 years
Minimum employment: 1 year in current employment and a minimum of 2 years of employment
Minimum Annual Income: Rs.100000 net annual income

For Self-Employed Applicants

Minimum age: 21 years
Maximum age at loan maturity: 65 years
Minimum employment: At least 3 years in business
Minimum Annual Income: Net profit Rs. 60000 per annum for standard cars and Rs.100000 per annum for mid-sized and premium cars

Car Loan for Major Car Manufacturers in Palakkad

TABLE WILL APPEAR Apply for a Car Loan

Processing Fees / Prepayment Charges on Car Loan Palakkad

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
Prepayment Charges	>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 Palakkad

CIBIL score plays a key role while getting the loan application processed and thereby availing a fresh loan.

If your Cibil score lies near to 750, then there are more chances for you to get the quick loan approvals. Whereas, if in case, the CIBIL score is less than 700 then your application might have to suffer. So, it is recommended to check your CIBIL score before you apply for the loan.

If you pay your EMIs in time then your Cibil score will be increased. In case you fail to repay the instalment, your CIBIL score will be reduced to a certain extent. The applicant has to pay monthly EMIs according to the schedule of the respective bank.

Car Loan Palakkad Agent Contact Number

For loan queries regarding the car loan in Palakkad, reach us at Dialabank or contact us on 9878981166.

Pre Calculated EMI Table for Car Loan Palakkad

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

Car Loan EMI Calculator Palakkad

About Palakkad

Palakkad, also known as Palghat, is a municipality town in the state of Kerela, India. This place is also known as the rice bowl of Kerala and around the 18th-century, Palakkad Fort witnessed sturdy battlements, a moat, and a Hanuman temple on its grounds. On the Kalpathy River, the 15th-century Viswanatha Swamy Temple is the main venue of the famous Ratholsavam Chariot Festival. Moreover, near Malampuzha Dam, the town of Malampuzha has a rock garden created from recycled materials.