Car Loan Ranchi

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Car Loan Ranchi

Best Banks for Car Loan in Ranchi

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 Ranchi Features

car loan ranchi

Thinking of purchasing a new car? But don’t have the required funds for it? Do not worry! Dialabank presents to you the easiest steps to avail a car loan so that you can fulfill your dream with great convenience. Car loans are provided by banks and NBFCs for both brand-new and second- hand cars, and for both ex-showroom and on-road prices. You can choose your own tenure for a loan and get the following features in Ranchi:

  • Car loans are available at low-interest rates, which may vary from bank to bank. So make sure you compare and choose what fits best for you!
  • Almost all major banks and NBFCs offer car loans in Ranchi, so you can get access to appealing offers and get a loan on your own terms.
  • The documentation process is quick and hassle-free.
  • Car loans are easily available through DialaBank. We take care of our customers and make sure everyone gets their dream car!

Car Loan Ranchi 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 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 Ranchi Documents Required

Documents required for car loan are as followed:

  1. You will need a Proof of Identity like a Passport copy, PAN Card, Voters ID card, Driving License
  2. You must show the Proof of Income  for Salaried applicant is the Latest 3-month salary slip with form 16 and for Self Employed is the Latest Income Tax Returns (ITR)
  3. You need to show  the Proof of Address like Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Lastly, you will need 6 months of Bank Statement

Car Loan Ranchi Eligibility Criteria

The car loan eligibility requirements are as followed in Ranchi:

SALARIED INDIVIDUALS

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

SELF-EMPLOYED INDIVIDUALS

  1. Minimum age: 30 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: At least 2 years in business
  4. Minimum Annual Income: Net profit Rs. 60,000 Per Annum for standard cars and Rs.1,00,000 Per Annum for mid-sized and premium cars

How to Apply for Car Loan in Ranchi?

Apply for car loan Ranchi is an easy process with DialaBank. There are two ways to do it:

  • Online Process – Visit our website and click on the car loan option available on the menu. Fill in the details regarding the car type and your income and wait as our relationship manager will soon get in touch with you on your provided number. You may also contact our relationship managers on the number 9878981166 in case of any queries regarding the loan.
  • Offline Process – For this, you will have to visit the branch personally, which might turn to be hectic for you. So we advise you to follow the online process instead!

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Car Loan for Major Car Manufacturers in Ranchi 

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Ranchi

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

Get a car loan from AXIS bank

Get a car loan from SBI

CIBIL Score Required for Car Loan in Ranchi

The CIBIL score is referred to as your ability to pay off your credits. A higher Credit score means good credit history and makes your car loan application process smooth and easy. Mostly, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Ranchi. This score may again vary from bank to bank. In case of a low CIBIL score than the required value, you will be required to pay a higher rate interest rate. Thus, a CIBIL score is an important factor in a car loan.

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Car Loan Ranchi Contact Number

In case of any queries regarding the car loan in Ranchi, you may contact us on the number 9878981166 for the best guidance!

Pre Calculated EMI Table for Car Loan Ranchi

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 Ranchi

Ranchi is the capital of the Indian province of Jharkhand and the fourth largest city of India by area. Ranchi was the focal point of the Jharkhand development, which required a different state for the ancestral locales of South Bihar, northern Orissa, western West Bengal, and the eastern zone of what is available day Chhattisgarh.

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