Car Loan Pallavaram

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Best Banks for Car Loan in Pallavaram

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 Pallavaram Features

Car Loan Pallavaram Owning 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
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

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Car Loan Pallavaram Documents Required

Documents required for car loan are as followed:

For Salaried Employee

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

For Self Employed

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

Car Loan Pallavaram Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Employees

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

For Self Employed

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

Car Loan for Car Manufacturers in Pallavaram

TABLE WILL APPEAR

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Processing Fees & Prepayment Charges on Car Loan Pallavaram

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 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.