Car Loan Patiala

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Car Loan Patiala

Best Banks for Car Loan in Patiala

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 Patiala Features

car loan patiala

When your children grow up, they step into an age that demands freedom and traveling on their own. On the next birthday of your children, you may gift them a luxurious car. But limited funds may not allow doing so. A car loan is the best method to buy your favorite car.

car loan is financial assistance provided by banks and NBFC’s to individuals to accomplish their dreams of having their car. A car loan is a secured form of a loan with manageable repayment options. Low-interest rates EMI options are ready for car loans in Patiala.

Car Loan Patiala Interest Rates

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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 Patiala Documents Required

Documents required for car loan are as followed:

For Salaried Individuals:

  1. Identity Proof: Passport, Driving License, PAN Card, Electoral Photo ID card can be used as ID proof.
  2. Income Proof: Last three months’ or last six months’ salary certificate along with Income Tax Return filed.
  3. Address Proof: Driving License, Electricity Bill, PAN Card, Voter ID Card, and Life Insurance Policy are valid address proofs.
  4. Bank Statement for the past six months.

For Self-employed individuals:

  1. Identity Proof: Passport, Driving License, PAN Card, Electoral Photo ID card can be used as ID proof.
  2. Income Proof: Income Tax Return.
  3. Address Proof: Driving License, Electricity Bill, PAN Card, Voter ID Card, and Life Insurance Policy are valid address proofs.
  4. Bank Statement for the past six months.

Car Loan Patiala Eligibility Criteria

The car loan eligibility requirements are as followed in Patiala:

For Salaried Individuals:

  1. The minimum age required for the availing of the car loan is 21 years.
  2. The maximum age at the loan maturity time ought to be 65 years.
  3. The salaried candidate should be employed for 1 year in current employment and a minimum of 2 years of total employment.
  4. The minimum annual income for the salaried candidate should be Rs 1,00,0000 net annual income.

For Self-employed Individuals

  1. The minimum age required is 21 years.
  2. The maximum age at the loan maturity time ought to be 65 years.
  3. The Self-employed candidate must be active in Business for at least three years.
  4. The Self-employed candidate should have a net profit of Rs 60,000 per annum for standard cars and Rs 1,00,000 per annum for mid-sized elite cars.

How to Apply for Car Loan in Patiala?

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The process of car loan application is easy with DialaBank. The reasons why DialaBank should be considered to avail a car loan in Patiala are:

  • We are India’s first-ever financial helpline.
  • The loan gets disbursed within a few hours of applying with us.
  • The entire process is hassle-free.
  • Get expert advice on car loans through our relationship managers.
  • You have the option to opt for a door-step pickup facility of your documents

To apply with us, just visit our website DialaBank, and fill the form of a car loan with the essential details. You will soon be contacted by our relationship manager who will assist you further in choosing the right bank/NBFC for you according to your need.

You may also visit the nearest branch personally to avail of a car loan which may be a bit hectic for you.

Car Loan for major car manufacturers in Patiala

TABLE WILL APPEAR

Processing Fees/Prepayment Charges on Car Loan in Patiala

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 Patiala

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CIBIL score also known as credit score is the score that defines the credit-history of an applicant. The effectiveness with which a person has paid off his previous loans can be depicted through this score.

Any kind of loan including the car loan requires a good CIBIL score of the applicant. The exact value may differ from one bank to another. But, a score of 750 and above is considered a good score and makes the entire process of car loan availability easy and convenient.

The higher the CIBIL score, the easier it becomes for an individual to avail of a car loan.

Car Loan Patiala Contact Number

For any queries related to a car loan in Patiala, you may contact the number 9878981166.

Pre Calculated EMI Table for Car Loan Patiala

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 Patiala

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In southeastern Punjab, Patiala is the fourth largest city of the state and is the administrative capital of the Patiala district. Located around Qila Mubarak, it was found by Ala Singh who founded the Royal dynasty of Patiala state in 1763.

Car Loan EMI Calculator Patiala

You may also check the car loan EMI calculator available on our website.

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