Car Loan Panchkula

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Car Loan Panchkula

Best Banks for Car Loan in Panchkula

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 Panchkula  Features

Car Loan Panchkula

A car loan is a financial help provided by banks and NBFC’s to fulfill your dream of having your car.

They provide necessary funding for purchasing a car which can be on Ex-Showroom Price or On-Road Price of the car.

A car loan is a secured loan with easy repayment options. The loan amount is offered on Interest charges which vary from bank to bank. One can pay for the vehicle in easy installments.

Car Loan Panchkula 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

Car Loan Panchkula Documents Required

Documents required for car loan are as followed:

For Salaried Individuals:

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

For Self Employed Individuals:

  1. Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
  2. Income Proof: Latest Income Tax Return
  3. Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Bank Statement: Last 6 months.
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Car Loan Panchkula Eligibility Criteria

The car loan eligibility requirements are as followed in Panchkula:

For Salaried Individuals:

  1. Minimum age: 21 years
  2. Minimum employment:  1 year in the current place of work and 2 years of total employment.
  3. Minimum Annual Income: Rs 100000 net annual income.
  4. Maximum age at loan maturity: 65 years

For Self Employed Individuals:

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: A minimum of 3 years in business.
  4. Minimum Annual Income: Net profit of Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars

How to Apply for Car Loan in Panchkula?

Availing a car loan Panchkula is an easy process with Dialabank. Just follow some steps to avail the best offers:

  • Visit our website and click on the car loan option available on the menu. Fill in the details regarding the car type and your income. Our relationship manager will soon get in touch with you on your provided number.
  • You may also contact our relationship managers on the number +919878981166 in case of any queries regarding the loan.
  • For availing a car loan offline you will have to visit the branch personally, which might turn hectic for you. So we advise you to do it online!

Car Loan for Major Car Manufacturers in Panchkula

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Panchkula

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 Panchkula

Every lending institution has its criteria for the minimum CIBIL score required for processing the Car Loan application in Shivpuri so that they can minimize the risk of lending to you and also if your CIBIL score is high you get an interest rate at a much lower interest rate than others. Most institutions require a minimum score of CIBIL of 750 or above to process your loan application. Also having a good CIBIL score helps to loans at a cheaper rate of interest.

The institutions don’t just look at the overall score but also the detailed behavior on the previous loans taken. This includes details on the type of loan taken and the amount borrowed. Any delayed payments for previous loans can act as a barrier to your availing a fresh loan.

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Car Loan Panchkula Contact Number

Dial us up at +919878981166 to get more information about car loans at Panchkula and we will give you the best advice to help you fulfill your dream easily, quickly and efficiently.

Pre Calculated EMI Table for Car Loan Panchkula 

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 Panchkula

Panchkula is a planned city and District headquarters in the Panchkula district, Haryana, India. The origin of the name Panchkula came from the place where five irrigation canals meet. It forms a part of an adjoining area to the Chandigarh, Mohali and Zirakpur.

It is approximately 4 km (2.4 miles) southeast of Chandigarh, 105 km (65 miles) southwest of Shimla, 44 km (27 miles) from Ambala and 259 km (162 miles) northeast of New Delhi, the national capital. It is a part of the Chandigarh capital region or Greater Chandigarh. The Chandigarh-Mohali-Panchkula metropolitan region collectively forms a Chandigarh Tricity, with a combined population of over 2 million.

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Car Loan EMI Calculator

Car loan EMI can be calculated by Car loan EMI Calculator provided by Dialabank. It is free to use and you can use it an infinite number of times. Equated Monthly Installments(EMI) is the monthly fixed charges that you pay to the bank as monthly repayment for the loan amount borrowed. Based on the profile, the interest rate on the loan is determined. EMI is calculated based on the Interest Rate you are charged by the bank and the amount of loan you have to take and the period for which you enjoy the car loan.

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