Car Loan Periyakulam

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Car Loan Periyakulam

Best Banks for Car Loan in Periyakulam

Kotak Mahindra Bank
Interest Rate
8% - 8.4 %
8.5 - 9.5 %
Min Loan Amt
Metro : 1 Lac & Non Metro: 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
Loan to Value (LTV)
Upto 100% on Ex- showroom
Upto 95% on Ex- showroom
Upto 90% on Ex- showroom

Car Loan Periyakulam FeaturesCar Loan Periyakulam

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Buying a car from your pocket is a hard task for the individual earner of the family, but there is a saying if all of the opportunities are shut there is constantly a ray of hope. Thus, Car Investment is the best way to attain cash in a small time. It is a more reliable way to provide funds to purchase the dream car with comfort.

We give car loans starting at an attractive rate of interest to both self-employed as well as salaried individuals. We advance car loans on new plus used cars.

Some key features of car loan in Periyakulam are the accompanying:

  • Easy monthly repayment choices are ready for you.
  • Directly car loan possible
  • Loan Tenure period ranges from 1-7 years
  • There is a requirement of an affordable interest Rates offers to meet your desires.
  • There are no hidden or additional costs in availing a car loan.

Car Loan Periyakulam Interest Rates

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 Periyakulam Documents Required

Documents required for car loan are as followed:

For Salaried Individuals:

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

For Self Employed Individuals:

  1. Identification Proof: PAN Card, Voters ID card, Driving License, Passport copy
  2. Income Proof: Latest ITR
  3. Address Proof(anyone): Ration card/ Voters card / Passport Copy / Telephone Bill / Electricity Bill / Driving license / Life Insurance Policy /PAN Card
  4. Bank Statement: Last 6 months.

Car Loan Periyakulam Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Applicants

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

For Self-Employed Applicants

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: At least 3 years in business
  4. Minimum Annual Income: Net profit Rs. 60000 per annum for regular cars and Rs.100000 per annum for mid-sized and superior cars

Car Loan for Major Car Manufacturers in Periyakulam


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Processing Fees / Prepayment Charges on Car Loan in Periyakulam

Category Details
Processing Charges
1999 - 4999 + Tax
No prepayment is allowed until 12 EMIs are paid
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 Periyakulam

CIBIL score shows your credit history in the past as well as your defaults in payment of your previous loans. A good credit score is regarded as 750 and above as most of the business, institutions ask for a high credit score. Every bank and NBFC has several criteria for a minimum CIBIL score they require to process your Car Loan Periyakulam. A CIBIL score than 750 can attract a higher rate of interest.

A very low CIBIL score can lead to denial of your loan as it is the first thing a bank tracks before processing your loan. Your report of previous loans is taken into evidence for a car loan. If there are any delay payments for previous loans, it will create a block for availing of a fresh loan.

Car Loan Periyakulam Agent Contact Number

For any queries regarding the car loan in Periyakulam, you can call us on 9878981166anytime you wish to.

Pre Calculated EMI Table for Car Loan Periyakulam

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

Car Loan EMI Calculator Periyakulam

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About Periyakulam

Periyakulam is a major town and a city in the Theni district, in the Madurai Region, South Indian state of Tamil Nadu. As of the 2011 census, the town had a population of 42,976. Periyakulam is the northern gateway of the district. Tamil is uttered predominantly in and around Periyakulam. Madurai Tamil is the official dialect spoken.

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