Car Loan Panipat

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Car Loan Panipat

Best Banks for Car Loan in Panipat

Feature HDFC Bank ICICI 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 Panipat

Car Loan Panipat Features

  • Easy monthly repayment options
  • Instantly available
  • Loan Tenure period varies from 1-7 years
  • Affordable interest Rates
  • No hidden charges
  • Quick approval with minimum documentation

Car Loan Panipat 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

Car Loan Panipat Documents Required

Documents required for car loan are as followed:

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

Apply for a Car Loan

Car Loan Panipat Eligibility Criteria

The requirement for car loan eligibility  are as followed in Panipat:

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: Salaried People- minimum of 2 years of employment experience and 1 year in current employment.  For Self Employed– at least 3 years in business
  4. Minimum Annual Income: For Self- Employed Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars. For Salaried Rs 100000 net annual income. 

Car Loan for Major Car Manufacturers in Panipat

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Panipat

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 Panipat

Every lending institution has its criteria for the minimum CIBIL score required for processing the Car Loan application in Satara so that they can minimize the risk of lending to you. Most of the institutions require a minimum CIBIL score of 750 or above to process your loan application. Also, having a good CIBIL score helps to loans at a cheaper rate of interest.

CIBIL score when higher helps to get a low level of interest rate on car loans.

Car Loan Panipat Contact Number

You can contact us for all your loan queries on 9878981166, and we will be happy to assist you.

Pre Calculated EMI Table for Car Loan Panipat

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 Panipat

Panipat is a historical city in Haryana state. The city has witnessed three battles of life. It is popularly known as the “City of Weaver”. It is a city of carpets and textiles. It is one of the major cities in the state, and the total population of the city is 8.73 lakhs.

Panipat attractions include the Panipat battlefield memorial and Ibrahim Lodhi tomb.

Special Note: Banks don’t provide Car Loans to bad credit holders, but one can fulfill their money requirement with Gold Loan easily.

Car Loan EMI Calculator

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