Car Loan Paradeep

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Car Loan Paradeep

Best Banks for Car Loan in Paradeep


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Car Loan Paradeep Features

Loan Approval in 30 Minutes
Lowest Rate of Interest
Up to 100% on Road Loan
Minimum Documentation
Paperless Process
Flexible Repayment
Zero Foreclosure
24 x 7 Online Payment Facility
No Hidden Charges

Car Loan Paradeep


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Car Loan Paradeep Eligibility Criteria

Salaried Individual
Age – 21 years to 60 years
Net Monthly Income – Minimum ₹ 20,000
Employment Duration – 1-year minimum
Income Eligibility – Based on Form 16 and salary slip
Self-Employed Individuals
Age – 21-65 years of age
Minimum ITR – Rs.2 lakh
Employment Duration – Minimum 3 years
Income Eligibility – Depends on the latest Income Tax Returns
Self-Employed Non-Individuals (Company/Partnership)
Minimum ITR – Rs. 2 lakh
Employment Duration – 3 years minimum
The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
At least 6-month vintage
Average Quarterly Balance – 2 quarters balance at a minimum of Rs.1 lakh
Maximum Loan Amount – 3 times the Average Quarterly Balance of the last 2 Quarters


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Car Loan Paradeep EMI Calculator

Car Loan Paradeep Fees & Charges

Charges New Car Loan Used Car Loan
Interest Rate

7.35% per annum

11.80% p.a. to 13.80% p.a.
Car loan Processing fees 0.5% 0.5%
Issuance of Duplicate Repayment Schedule Charges Around Rs.500 Around Rs.500
Foreclosure Charges 0.06 0.06
Penal Interest 2% PM 2% PM
Car loan Part Payment charges 6% of the amount 6% of the amount
Cheque/Instrument Swap Charge Around Rs.500 Around Rs.500
Documentation Charge Around Rs. 500 Around Rs. 500
Issuance of Duplicate No Dues Certificate Charges Around Rs. 500 Around Rs. 500
Registration Certification Collection Charge Around Rs. 200 Around Rs. 200
Cheque Bounce/Instrument Return Charges Around Rs. 500 Around Rs. 500
Issuance of Duplicate Statement Charges Around Rs. 500 Around Rs. 500
Loan Cancellation/Re-booking Charges Around Rs. 1000 Around Rs. 1000
Issuance of Credit Report Around Rs. 50 Around Rs. 50


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Car Loan Paradeep Fees and Charges : Leading Banks – May 26 2022

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 Paradeep Documents Required

Salaried Individual

Category
Documents Required
Identity Proof (Any 1) Passport
Voter ID
Aadhar Card
Driving License
Address Proof (Any 1) Aadhar Card
PAN
Driving License
Electricity Bill
Date of Birth Proof(Any 1)
Passport
Birth Certificate
High School Marksheet
Driving Licence
Signature Proof(Any 1)
PAN
Bankers Verification
Passport
Income Proof
Salary Slip and latest Form No.16
Bank Statement
Last 6 month Bank statement
Employment Continuity Proof
Job card by NREGA
ITR of Form no. 16
Salary Slip mentioned with joining date
Letter of Appointment

 

Self-Employed Individuals

Category
Documents Required
Identity Proof (Any 1) PAN Card
Passport
Voter ID
Aadhar Card
Address Proof (Any 1) PAN Card
Voter ID
Passport
Electricity Bill
Date of Birth Proof (Any 1) Birth Certificate
Passport
Driving Licence
PAN
Signature Proof (Any 1)
PAN
Bankers Verification
Passport
Bank Statement
Bank statement of last 6 months
Employment Continuity Proof
Latest ITRs
Shop & Establishment Act Certificate
Shop & Establishment Act Certificate
Sales Tax or VAT Certificate
Business Proof
Registration Certificate
Telephone Bill/Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate

 

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

Category
Documents Required
Identity Proof (Any 1) Driving Licence
PAN Card
Aadhar Card
Passport
Address Proof (Any 1)
Electricity Bill/Telephone Bill
Aadhar Card
Driving License
Voter ID
Income Proof
Audited Balance Sheet
P&L Account
ITR for the previous 2 years
Bank Statement Last 6 month
Business Continuity Proof
Company ITR of the last 2 years
Audited Balance Sheet
TAX registration Certificate
Current Account Statement
Additional documents
Letter of Authority or PAN Card

 

2. Private Limited/Limited Companies

Category
Documents Required
Identity Proof
The latest copy of MOA and AOA
Copy of Incorporation
Address Proof (Any 1)
SSI/MSME Registration Certificate
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
Sales Tax Certificate
Income Proof
Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Previous 6 Months
Business Continuity Proof
P&L account and
ITR of the Company of the past 2 years
Audited Balance Sheet
Shop & Establishment Act Certificate
Additional documents
List of Shareholding partners and Directors
Board Resolution
PAN Card
Certificate of Commencement of Business for Ltd. Co.


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How to Get the Best Car Loan Interest Rates in Paradeep

The interest rate of a car loan is different in the different banks in Paradeep. To get interest rates at the best rates, you need to keep in mind some points given below-

  • Before depending on the bank for a car loan, one should first research and compare different banks offering different interest rates. You might get in lower interest rate if you do more research.
  • While deciding the loan tenure, the lender would try to convince you to take a longer repayment period. It would help if you avoided it instead go for a short repayment period. If you pay back fast, then the interest rate charged would be less.
  • Banks check for Debt to income ratio for deciding the interest rate. If the Debt to income ratio comes out to be less, there are more chances of you getting a loan at the lower interest rate.
  • Another important point that banks consider while deciding the interest rate of applicants is the credit score. If the credit score is good, one can get a loan at less interest rate.

How to Apply for a Car Loan in Paradeep?

  1. Visit Dialabank
  2. Go to the loan section and select auto loan, followed by the car loan link.
  3. The applicant will be directed to the car loan details, where they can choose their preferred city.


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Which Bank in Paradeep Offers the Best Car Loans?

A number of prominent banks and NBFCs offer vehicle loans in Paradeep. The finest lender will be able to provide you with the loan amount you need at a fair interest rate and release the funds as quickly as feasible. Therefore, before applying for a vehicle loan that fits all of your criteria, such as interest rates, it is usually a good idea to compare vehicle loans from various lenders.

Car Loan for Major Car Manufacturers in Paradeep

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Paradeep

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


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CIBIL Score Required for Car Loan in Paradeep

CIBIL Score plays a vital role while getting a car loan Paradeep. The higher your CIBIL score, the higher amount of Car Loan Paradeep you will get at minimum time. Generally, the reason behind this a CIBIL score usually shows the behaviour of the applicant towards their credits. If the score is not good, the customer has a bad credit record. They might not be good with their past and present credits or debts.


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Car Loan Paradeep Contact Number

In case of any queries regarding the car loan in Paradeep, you may contact on the number 9878981166 for any assistance.


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Pre Calculated EMI Table for Car Loan Paradeep

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


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About Paradeep

Paradeep is a major seaport town in Jagatsinghpur district in the state of Odisha. Paradeep, commonly known as Paradip, is a significant seaport city and municipality in Odisha’s Jagatsinghpur district.


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Car Loan Banks in Paradeep

Bank Bank Address IFSC
ALLAHABAD BANK VILL & PO KUJANG, DISTRICT JAGATSINGHPUR, ORISSA-754141 ALLA0210060
ALLAHABAD BANK PARADEEP PORT TRUST, CENTRAL DOCUMENTATION CENTER, PARADEEP ALLA0212485
BANK OF BARODA MADHUBAN, QRMC-179, PARADEEP-ORISSA-754142 BARB0ATHARB
DENA BANK MARINA COMPLEX PLOT NO.1472 BY 1473, UDAYABAT PARADIP, DIST JAGATSINGPUR STATE ODISHA 754142 BKDN0911397
BANK OF INDIA 467, CORE SECTORPARADEEP PORT, BKID0005103
BANK OF INDIA PLOT NO.485, KHATA NO.48, MZ. BIJAYACHANDRAPURPOSTATHARABANKI, PARADEEP, DISTJAGATSINGHPUR BKID0005122
CENTRAL BANK OF INDIA ROOM NO. 21, 1ST FLOOR, MADHUBAN MARKET COMPLEX, MADHUBAN, PARADEEP, DIST-JAGATSINGHPUR, ORISSA-754142 CBIN0282139
CANARA BANK MADHUBAN SHOPPING COMPLEX, PARADEEP 754 142, CNRB0001435
CORPORATION BANK PARADIP GARH, NEAR PARADIP POLICE STATION, PARADIP CORP0001581
HDFC BANK HDFC BANK LTD.CO HOTEL PARASAR BUILDINGIFFCO SQUARE, ATHARBANKI HDFC0001818
ICICI BANK LIMITED ICICI BANK LTD., PLOT NO-48, BHANJA SARANI, BADAPADIA, PARADIP, DIST-JAGATSINGHPUR.ORISSA.754 142 ICIC0000776
INDIAN BANK PLOT NO 485 BIJAYACHANDRAPUR ATHARABANKI 754142 IDIB000P188
INDIAN OVERSEAS BANK ISPAT BHAVAN, BHANJ SARANI, PARADEEP PIN 754142 IOBA0001136
KOTAK MAHINDRA BANK LIMITED PARADIP BRANCH- ORRISA, GROUND FLOOR, PLOT NO-417, KHATA NO-68, MAUZA, BIJAYACHANDRAPUR, PARADIP, JAGATSINGHAPUR-ORRISA-754142 KKBK0007322
BANK OF MAHARASHTRA AKSHARA MARKET COMPLEX, AT PO PS PARADEEPGARH, DIST JAGATSINGHPUR, ODISHA 754141 MAHB0001891
ORIENTAL BANK OF COMMERCE BANK STREET, PORT TOWN, PARADEEP, TEH.KUJANG 754142, PARADEEP ORBC0100627
PUNJAB AND SIND BANK PARADEEP GARH, NIMIDHIA, DISTT JAGATSINGUR ODISHA 754142 PSIB0021248
PUNJAB NATIONAL BANK BANK STREET, PARADEEP, DIST. PUNB0216600
STATE BANK OF INDIA P.O. PARADEEP PORT, JAGATSINGHPUR, ORISSA 754142 SBIN0003945
STATE BANK OF INDIA JAGATSINGHPUR, ST ORISSA, PIN 754 142 SBIN0007979
STATE BANK OF INDIA P.O.PARADEEP.GARH, PRADEEP, JAGATSINGHPUR 754141 SBIN0010918
SYNDICATE BANK PARADEEP, PHOSPHATE, LTDCAMPUS, PRADEEP, JAGATSINGHPUR,DIST,PIN,754,142 SYNB0008030
UNION BANK OF INDIA BANK STREET, AT & POST PARADEEP, DIST. JAGATSINGHPUR, ORISSA, PIN – 754 142. UBIN0548065
AXIS BANK HIG-35, HOUSING BOARD COLONYAT-MADHUBAN, POPS PARADIP PIN 754142, DIST. JAGATSINGHPUR, ORISSA UTIB0000713
VIJAYA BANK GROUND FLOOR, PLOT NO 447, KHATA NO-29MAHABIR COMPLEX, ASIRVAD NAGAR, IFFCO SQUIRE 754141 VIJB0007419
YES BANK AT-BADAPADIA BANK LINE-PO-PARADEEP,754142 YESB0CCCB20

FAQ’s About Paradeep Car Loan

Is it mandatory to have a guarantor for a car loan in Paradeep?

It is not compulsory to have a guarantor to get a car loan. Banks only ask in case if your income is below the statutory minimum. In that case, the lender may need a co-applicant to show that you will pay back the loan.

How can I check the EMI instalments to be paid for the car loan?

You can check EMI through the Dialabank EMI calculator; this is a free calculator. You can use it from any place at any suitable time. This would give you the exact amount to be paid by you for EMI.

How much downpayment is expected to be paid by the borrower for a car loan?

Banks expect applicants to pay 5% to 15% of the vehicle value amount as a downpayment.