Car Loan Pallavaram

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Car Loan Pallavaram

Best Banks for Car Loan in Pallavaram

Kotak Mahindra Bank
Interest Rate (p.a.)
7.35 - 7.95%
8.5 - 9.5 %
Min Loan Amt
Metro : 1 Lac & Non Metro: 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
Loan to Value (LTV)
Upto 100% on Ex- showroom
Upto 95% on Ex- showroom
Upto 90% on Ex- showroom

Car Loan Pallavaram Features

Car Loan PallavaramOwning a brand new luxury car is no more an extraordinary task. You don’t need to worry even if there is a shortage of cash. Banks and NBFCs provide Car Loans that enable an individual to possess the car of their choice without any hassle. Another product offered by the lenders has used car loans which makes it easier for an individual to buy a pre-owned or a used car which they might not be able to bear the first-hand cost.

Online car loans are an appropriate and fitting way to finance your car in just a few simple steps. Visit Dialabank and get your car loan now.

Car Loan Pallavaram Interest Rate

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 Pallavaram Documents Required

Documents required for car loan are as followed:

For Salaried Employee

  1. Proof of identity such as Aadhar Card/ Driving License/ Passport Copy, etc.
  2. Proof of income such as Previous 3 months bank statements and salary slips for a such applicants
  3. Proof of address such as Water Bill/ Telephone bill/ Voter ID/ Passport Copy
  4. 2 recent passport size photographs.

For Self Employed

  1. Proof of identity such as Aadhar Card/ Driving License/ Passport Copy, etc.
  2. Proof of income such as  recent ITR files for a self-employed individual in Pallavaram
  3. Proof of address such as Water Bill/ Telephone bill/ Voter ID/ Passport Copy
  4. 2 recent passport size photographs of the applicant.

Car Loan Pallavaram Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Employees

  1. A salaried employee must be working in the current organization for at least a year.
  2. The age limit for a car loan is 21 to 65 years
  3. An employed individual should earn a minimum salary of Rs 25000.

For Self Employed

  1. A Self-employed individual must have their business running from at least the past three years.
  2. The age limit for a car loan is 21 to 65 years.

Car Loan for Car Manufacturers in Pallavaram


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Processing Fees & Prepayment Charges on Car Loan Pallavaram

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

CIBIL Score Required for Car Loan in Pallavaram 

CIBIL score shows the credit borrow and repayment behavior of an individual. Thus, the lenders have a minimum CIBIL score requirement based on which the loan is approved. Generally, if an applicant has a score above 800 then they are eligible for availing a car loan at an on-road price.

One must clear all the pending dues and debts to maintain a good credit score. Default in your credit score may hinder your opportunities for availing a fresh loan in the future.

Car Loan Pallavaram Contact Number

Apply for a Car Loan

To get an instant car loan you can visit our website Dialabank or call on 9878981166 to get the best assistance. Our executives are well trained and will assist you in order to provide you with a deal most suited for you.

Pre Calculated EMI Table for Car Loan Pallavaram 

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

You can calculate your EMI here: Car Loan EMI Calculator

About Pallavaram

Pallavaram is a city located in the state of Tamil Nadu. The neighborhood is a bustling area with various residential colonies covering the place. Pallavaram is a well-located area as it is very close to the Chennai International Airport as well as the local railway station of Pallavaram can be found here. Pallavaram has a long illustrated history and has been inhabited since the Paleolithic Age.

Special Note: Banks do not provide Car Loans to applicants with poor credit history, but one can fulfill their money requirement with Gold Loan easily.

Car Loan EMI Calculator

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