Car Loan Prakasam

I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Buy your dream Car

Rates as low as 7.05%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

Car Loan Prakasam

Best Banks for Car Loan in Prakasam


car loan

Car Loan Prakasam 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 Prakasam


car loan

Car Loan Prakasam Eligibility Criteria

The car loan eligibility requirements are as follows in Prakasam:

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 Prakasam EMI Calculator

Car Loan Prakasam 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 Prakasam 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 Prakasam Documents Required

The documents required for applying for a car loan in Prakasam are: –

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 Prakasam

  • Research and compare the benefits provided by various lenders – Smart and financially responsible borrowers must evaluate a wide range of plans provided by numerous lenders to select the one that best meets their unique set of demands.
  • Maintain a low debt-to-income ratio — This ratio determines how much of the loan seeker’s income is spent on repaying earlier debts; if this measure is low, the chances of having a new loan improve.
  • Choose a loan with a shorter repayment term – Loans with longer repayment terms typically attract a large number of borrowers because they believe they will pay it off in smaller payments over a longer period of time. Unfortunately, loan applicants frequently pick long-term loans and wind up paying significantly more in interest because of this misunderstanding.
  • Maintain a solid credit score — One of the most important variables considered when accepting a vehicle loan application is the borrower’s CIBIL score. Lenders typically prefer candidates with at least a 750 credit score.

How to Apply for a Car Loan in Prakasam?

Applying for a vehicle loan in Prakasam is a simple procedure with DialaBank; follow the steps shown below to take advantage of the finest deals in your area: –

  • Dialabank is our website.
  • Select the auto loan option from the website.
  • Fill up the relevant boxes with information about the kind of vehicle and your annual income.
  • Our relationship manager will contact you shortly.
  • If you have any questions about the loan, please call us at 9878981166.


car loan

Which Bank in Prakasam Offers the Best Car Loans?

Car loan companies in Prakasam, such as HDFC and Muthoot, offer loans with extremely cheap interest rates and various payback terms. Going through all of these plans on your own might be a daunting process, but Dialabank staff can assist you in completing this stage. After you fill out a form, one of our staff will contact you and guide you through the whole loan application procedure and assist you in preparing the necessary paperwork for the application process.

Car Loan for Major Car Manufacturers in Prakasam

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Prakasam

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 Prakasam

The CIBIL Score of a loan applicant is one of the most important factors a lender examines when authorising a vehicle loan. To complete an application, most of the major companies in the vehicle loan industry need the applicant to have a credit score of 750 to 900. A CIBIL score in this range indicates that the applicant has paid off his prior loans and credit card payments on schedule. Lenders will sometimes give credit to those with poor CIBIL ratings, but they will charge a higher interest rate.


car loan

Car Loan Prakasam Contact Number

In case of any queries regarding the auto loan in Prakasam, feel free to contact us on 9878981166 for any assistance.


car loan

Pre Calculated EMI Table for Car Loan Prakasam

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

About Prakasam

Prakasam is a coastal district in Andhra Pradesh and has a population of around 34 Lakh people.


car loan

Car Loan Banks In Prakasam

Bank Name Bank Address IFSC code
ANDHRA BANK 786,BEGAM BRIDGE ROAD,MEERUTUTTAR PRADESH ANDB0000855
BANK OF BARODA P.B.NO.64, OLD GOVT.HOSPITAL ROAD ,OPP.DISTRICT LIBRARY,ONGOLE BARB0ONGOLE
BANK OF BARODA SNO-145 OPP NT ST UPPU BA PRAKASAM DIST UPPUMAGULURU ANDHRA PRADESH 523301 BARB0UPPUMA
KARUR VYSYA BANK KANIGIRI 100 FT ROAD NANDA VARI STREET KANDUKUR PRAKASAM DISTRICT ANDHRA PRADESH 523105 KVBL0004872
ORIENTAL BANK OF COMMERCE D. NO. 2-5, MAIN ROAD, SANKHAVARAPPADU, ADANKI MANDAL ORBC0102123
STATE BANK OF INDIA DIST PRAKASAM STATE ANDHRA PRADESH PIN 523201 SBIN0000751
STATE BANK OF INDIA PEDARIKATLAAP SBIN0005816
STATE BANK OF INDIA PRAKASAMAP SBIN0007822
STATE BANK OF INDIA PRAKASAMAP SBIN0008305
STATE BANK OF INDIA PRAKASAMAP SBIN0008838
STATE BANK OF INDIA PITAKAYAGULLAAP SBIN0009504
STATE BANK OF INDIA MARKAPUR BAZAR,DNO 6 449,1ST FLOOR,NS COMPLEX,DORNALA BUSSTAND,MARKAPUR SBIN0012918
STATE BANK OF INDIA TRUNK ROAD,KANDUKUR ROAD CENTRE,SINGARAYAKONDA,PRAKASAM DT,A P SBIN0012922
STATE BANK OF INDIA HNENTREINKOLLUMNDLPRKSMDIST SBIN0020367
STATE BANK OF INDIA AAEGLE SBIN0020488
STATE BANK OF INDIA PCGTKLP SBIN0020581
STATE BANK OF INDIA 334DURBARROADCHIRALA52355PRAKASAMDT SBIN0020761
STATE BANK OF INDIA H Y B GK I SBIN0020773
STATE BANK OF INDIA ANROADOPPRURALPOLCESTATONKANDUKURUPRKS SBIN0020774
STATE BANK OF INDIA PRAKASHAM DT SBIN0020847
STATE BANK OF INDIA AGANNAVARAMRDNHMARTHUR SBIN0021170
STATE BANK OF INDIA OGURRODOGOLE SBIN0021171
STATE BANK OF INDIA TVCR COMPLEX NEW BAJAJ SHOWROOM COLLEGE ROADMARKAPUR PRAKASHAM DIST SBIN0021204
STATE BANK OF INDIA NO11 465 MNR COMPLEXOPPRTC BUS STAND KURNOOL ROADPODILI PRAKASAM DIST SBIN0021205
STATE BANK OF INDIA N32SIVALAKSHMIBUILINGVRAKANIGIRIPRAKASAMIST SBIN0021206
STATE BANK OF INDIA GOGOEODPKMDTDDK SBIN0021249
STATE BANK OF INDIA 9 45 B1 MARKAPUR NANDYAL ROADNEAR BUS STANDCUMBUM PRAKASAM DIST SBIN0021251
STATE BANK OF INDIA NO8 19 51 KOTHAPETA VEEDHI STREET OPPHEAD POST OFFICEGIDDALUR PRAKASAM DIST SBIN0021284
STATE BANK OF INDIA HNO 10 19 LIBRARY STREETVETAPALEM VILLAGE MANDAL PRAKASHAM DISTRICT ANDHRA PRADESH SBIN0021582
UNION BANK OF INDIA KOPPOLU(AT & POST) ONGOLE(TALUKA) CITY – PRAKASAM DISTT.PRAKASAM PIN-523287 ANDHRA PRADESH UBIN0565962

FAQ’s About Prakasam Car Loan

✅ Will banks finance my car’s accessories too?

No, most banks and NBFC’s provide a loan amount sufficient only for the standard trim of the car.

✅ What form of collateral do lenders require for a car loan in Prakasam?

Lenders consider the car you are buying as a collateral asset for your loan.

✅ What is the maximum age limit to apply for a car loan in Prakasam?

The maximum age limit to apply for a car loan in Prakasam is usually set between 60-70.