Car Loan Rajamundry

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Buy your dream Car

Rates as low as 7.35%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

Best Banks for Car Loan in Rajamundry

Feature
HDFC Bank
ICICI Bank
Kotak Mahindra Bank
Interest Rate
8% - 8.4 %
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 Rajamundry FeaturesCar Loan Rajamundry

Thinking of buying your dream car? But don’t have the needed funds for it? Bother not! A car loan is here to meet your dreams. A car loan is a medium of funding or financial help provided by banks and NBFCs to applicants at an affordable rate of interest to help them in getting a car of their choice. Since cars have now become a necessity for everyone, but the cost of cars is spreading rapidly daily, a car loan has also become important and fulfills your ambition to be the proprietor of a comfortable car.

The main characteristics of a car loan in Rajamundry are:

  • Car loans are accessible at affordable low-interest prices
  • Nearly all main banks and NBFCs offer car loans in the center
  • The documentation method is quick and hassle-free on regarding with DialaBank
  • Car loans are easily accessible through Dialabank and distributed immediately

Car Loan Rajamundry Interest Rate

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
1%
Nil
Andhra Bank Car Loan
Nil
Nil

 

To check Personal Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates

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Car Loan Rajamundry Documents Required

For salaried:

  • Identity Proof: Passport copy, Voters ID card, PAN Card, Driving License
  • Income Proof: Newest 3-month salary slip including form 16
  • Address Proof: Voters card / Passport Copy / Telephone Bill / Electricity Bill / Ration card / Driving license / Life Insurance Policy /PAN Card or any other valid document
  • Bank Statement: for the latest 6 months.

For self-employed:

  • Identity Proof: Voters ID card, Passport copy, PAN Card, Driving License
  • Income Proof:  Latest ITR proof
  • Address Proof: Ration card / Driving license / Telephone Bill / Electricity Bill / Voters card / Passport Copy / Life Insurance Policy /PAN Card or any other valid document
  • Bank Statement: for the latest 6 months.

Car Loan Rajamundry Eligibility Criteria

For salaried:

  • Minimum age: 21 years
  • Maximum age at loan maturity: 60 years
  • Minimum employment: 1 year in prevailing employment and a minimum of 2 years of profession
  • Minimum Annual Income: Rs 100000 exclusive annual salary

For self-employed:

  • Minimum age:  30 years
  • Maximum age at loan maturity: 65 years
  • Minimum employment:  at shortest 3 years in the enterprise
  • Minimum Annual Income: For Salaried Rs 100000 net annual income / For Self- Employed Net profit Rs. 60000 p.a for normal cars and Rs.100000 p.a. for mid-sized and select cars

Car Loan for Major Car Manufacturers in Rajamundry

TABLE WILL APPEAR

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Processing Fees & Prepayment Charges on Car Loan Rajamundry

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 Rajamundry

The CIBIL score is the score that determines your capacity to pay off your credits. A more powerful Credit score indicates you have a good credit history and makes your administration process smooth and easy to be accepted. Usually, banks and NBFCs require a credit score of 750 and above to approve any loan application process in Rajamundry. This average requirement may change from bank to bank. But in case a CIBIL score is less than the needed value you may be required to pay a high rate interest rate to avail the loan.

Other than that, the details of the previous loan are verified by the organization. Any delays in the last loan can lead to a barrier in availing of a new car loan in Rajamundry.

Car Loan Rajamundry Contact Number

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

Pre Calculated EMI Table for Car Loan Rajamundry

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

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About Rajamundry

Rajamundry is a town in the Indian state of Andhra Pradesh. The center is located on the ledges of River Godavari in the East Godavari district of the state. The city is the 7th most populated city in the state. Throughout British rule, the District of Rajahmundry was built in the Madras Presidency in 1823.

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