Car Loan Port Blair

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Car Loan Port Blair

Best Banks for Car Loan in Port Blair

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

Car Loan Port Blair 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 Port Blair


car loan

Car Loan Port Blair 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


car loan

Car Loan Port Blair EMI Calculator

Car Loan Port Blair 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


car loan

Car Loan Port Blair Fees and Charges: Leading Banks – May 20 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


car loan

Car Loan Port Blair 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.


car loan

How to Get the Best Car Loan Interest Rates in Port Blair

The interest rates on vehicle loans offered by different lenders in Port Blair may vary, but they are all reasonable and competitive. If you want to get a Car Loan in Port Blair with the lowest interest rate, follow the steps below:

  • Compare various lenders and their offers – Every lender offers many types of schemes and offers. Make sure you do detailed research before taking the loan.
  • Maintain a good debt-to-income ratio – The debt-to-income ratio indicates how much of an applicant’s income goes toward loan repayment, and lenders take this into consideration when setting interest rates.

How to Apply for a Car Loan in Port Blair?

Availing of a Car Loan in Port Blair is an easy process with Dialabank. Few steps to be followed are:

  • Visit the Dialabank website.
  • Choose the Car Loan option.
  • Provide the details of the car and your income details.
  • Our relationship manager will soon call you on your cell number.
  • You can also call our relationship managers on 9878981166


car loan

Which Bank in Port Blair Offers the Best Car Loans?

Many banks, including HDFC, ICICI, and SBI, offer vehicle loans here. The best lender is one that can provide you with the loan amount you need at a suitable interest rate and can hand out the funds as quickly as possible.

Car Loan for Major Car Manufacturers in Port Blair

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Port Blair

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


car loan

CIBIL Score Required for Car Loan in Port Blair

The CIBIL score is what defines your ability to pay off your debts. A high credit score means healthy repayment history which in turn makes your Car Loan application process smooth. Mostly, banks consider a score of 750+ as a decent score to approve your loan process.


car loan

Car Loan Port Blair Contact Number

In case of any doubts regarding the Car Loan in Port Blair, you may contact on the number 9878981166 for any assistance.


car loan

Pre Calculated EMI Table for Car Loan Port Blair

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 Port Blair

Port Blair is the capital of the Andaman & Nicobar Islands. A major tourist attraction here is the seafront Cellular Jail built by the British, which is now a memorial for Indian freedom fighters. Its population is around a lakh.


car loan

Car Loan Banks in Port Blair

Bank Name Bank address IFSC Code
ALLAHABAD BANK POST BOX NO. 304 PORT BLAIR 744101 ANDAMAN & NICOBAR ISLAND PORT BLAIR ANDAMAN & NICOBAR 744101 ALLA0211921
BANK OF BARODA BJP BHAVAN 1ST FLOOR, SUPPLY LINE, M.G. ROAD (MIDDLE POINT) PORT BLAIR 744 101 ANDAMAN & NICOBAR ISLAND BARB0PBLAIR
CENTRAL BANK OF INDIA R. B. JANTA MARKET, ABERDEEN BAZAR, PORT BLAIR, SOUTH ANDAMAN – 744101 CBIN0283906
CANARA BANK KRISHNA HOUSE, ABERDEEN BAZAR, PORT BLAIR 744 104 CNRB0001185
CANARA BANK ATS SHOPPING COMPLEX, ANDAMAN TRUNK ROAD, GARACHARMA, PORT BLAIR, SOUTH ANDAMAN 744105 CNRB0005214
HDFC BANK HDFC BANK LTD. 201, MAHATMA GANDHI ROAD, JUNGLIGHAT, PORT BLAIR ANDAMAN AND NICOBAR ISLAND 744103 HDFC0001994
HDFC BANK 98, MAULANA AZAD ROAD, PORT BLAIR, 744101, ANDAMAN & NICOBAR ISLAND HDFC0CANSCB
IDBI BANK O26. MG ROAD ABERDEE BAZAR, PORTBLAIR-744101,A&ISLADS IBKL0001498
ICICI BANK LIMITED MB 23, MIDDLE POINT, PORT BLAIR – 744101, ANDAMAN ICIC0002144
INDIAN BANK 22 BABU LANE ABERDEEN BAZAAR POT BLAIR 744101 IDIB000P117
INDIAN BANK PAHARGAONNEAR GANESH TEMPLE PATHER GUDDA PORT BLAIR IDIB000P259
INDIAN OVERSEAS BANK DELANIPUR JUNCTION, PO HADDO PORT BLAIR PIN 744102 IOBA0001265
PUNJAB NATIONAL BANK PUNJAB NATIONAL BANK PUNB0216700
PUNJAB NATIONAL BANK BATHUBHASTI, GARACHARMA PORT BLAIR ANDAMAN AND NICOBAR PUNB0594300
STATE BANK OF INDIA MOMMOE BAY, PO JUNCLICKAL, ANDAMAN AND NICOBAR 744103 SBIN0008721
STATE BANK OF INDIA P.O. JUNGLI GHAT, PORT BLAIR, DIST. ANDAMAN, ANDAMAN AND NICOBAR , PIN-744103 SBIN0008722
STATE BANK OF INDIA DIST ANDAMAN, ANDAMAN AND NICOBAR 744101 SBIN0009670
STATE BANK OF INDIA 1ST FLOOR, SBI COMPLEX, MOHANPURA, PORT BLAIR, SOUTH ANDAMAN, ANDAMAN NICOBAR ISLANDS 744101 SBIN0010381
STATE BANK OF INDIA REGIONAL OFFICE, MOHANPURA, PORT BLAIR, SOUTH ANDAMAN744101 SBIN0014868
STATE BANK OF INDIA PROTHRAPUR JUNCTION, PORT BLAIR, DIST.SOUTH ANDAMAN, ANDAMAN AND NICOBAR-744105 SBIN0018262
SYNDICATE BANK 19 TAGORE RD GANDHI NAGAR MOHANPURA PORT BLAIR 744101 SYNB0009900
SYNDICATE BANK SYNDICATE BANK, ROOM NO 1, C O KALIPADA MISTRY, BUILDING NEIL KENDRA, SOUTH ANDAMAN, ANDAMAN AND NICOBAR INDIA -744104 SYNB0009914
TAMILNAD MERCANTILE BANK LIMITED FIRST FLOOR, KALAIGNAR ARIVALAYAM, OPP TO DR.B.R.AMBEDKAR AUDITORIUM, MOHANPURA, PORT BLAIR- 744 101, ANDAMAN TMBL0000323
UNION BANK OF INDIA 10 GANDHI BHAVAN, MG RD ABERDEEN BAZAAR PIN CODE 744101 UBIN0563854
UCO BANK UCO BANKPORT BLAIR BRANCH 744101 UCBA0001757
UNITED BANK OF INDIA BIRDLINE,PO- GARACHARM, PORT BLAIR UTBI0PHRA60
AXIS BANK 5 MIDDLE POINT UTIB0000157
AXIS BANK GROUND AND FIRST FLOOR, OPPOSITE HOTEL KARPAGAM, GARACHARMA.PORT BLAIR, DIST.SOUTH ANDAMANS, ANDAMAN AND NICOBAR, PIN 744105 UTIB0001898
YES BANK GROUND FLOOR AND FIRST FLOOR, SURVEY NO 10412, JUNGLIGHAT, PORT BLAIR, PORT BLAIR, ANDAMAN & NICOBAR-744103 YESB0000448

FAQ’s About Port Blair Car Loan

✅ What types of cars can I purchase with a Car Loan?

You can buy any model or type of car with Car Loans.

✅ Can the car about to be purchased placed as collateral against the loan?

Yes, it can be placed as collateral to take out the loan.

✅ Where can I get an Interest Calculator?

You can use the EMI calculator available on Dialabank. The interest rate can be calculated by filling out the relevant details such as your salary, company, and work experience, depending on which interest rates will be given.