Car Loan Palakkad

Best Banks for Car Loan in Palakkad

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 interest rate is calculated on the basis of compound interest.

Car Loan Palakkad Interest Rates

To check Personal Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates

Car Loan Palakkad Documents Required

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

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

Processing Fees / Prepayment Charges on Car Loan Palakkad

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

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.

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