Car Loan Rau

All About Car Loan Rau

All of us have a dream of having a car for ourselves. But, the cost deter us from buying the car of our dreams. A car loan is a savior for people looking to fulfill their dream of having a car. It is an instant loan option with instant finances and hassle-free process. 

What is a Car Loan?

A car loan is a financial aid offered to the customers by commercial banks and NBFCs. The banks provide the funding for purchasing the vehicle. You get the lowest interest rates with minimal documentation.

Interest Rates for Car Loan Rau

New Car 

1. If the requirement of the applicant is less than Rs. 3 lacs then the interest rate charged would be 10.25% per annum.
2. If the loan amount is between Rs.3 lacs to Rs.6 lacs, then the interest rate charged would be 9.50% per annum.
3. For the loan amount between Rs.6 lacs and Rs.10 lacs,  9.25% interest rate would be charged.
4. If the loan amount varies from Rs.10-20 lacs, then the interest rate charged would be 9.00% per annum.
5. For loan amount being more than Rs. 20 lacs the interest rate would be 8.70% per annum.

Used Car

The interest rate for used cars is fixed at 14.00% per annum.

Eligibility Criteria for Car Loan Rau

Salaried Individuals

1. Minimum age21 years
2. Maximum age at loan maturity 65 years
3. Minimum employment 1 year in present company and a minimum of 2 years of work in total.
4. Minimum Annual Income Rs 1,00,000 net annual income.

Self-Employed

1. Minimum age30 years
2. Maximum age at loan maturity 60 years
3. Minimum employment At least two years in business
4. Minimum Annual IncomeNet profit of Rs. 60,000 annually for standard cars and Rs.1,00,000 annually for mid-sized and premium cars

Partnership Firms

1. Minimum IncomeNet profit of Rs.60,000 annually for standard cars and Rs.1,00,000 annually for mid-sized and premium cars.
2. Minimum turnoverRs. 4.5 lakhs.

Private Limited Company

1. Minimum Income Net profit of Rs. 60,000 annually for standard cars and Rs.1,00,000 annually for mid-sized and premium cars
2. Minimum turnover Rs 4.5 lakh.

Why should one choose Car Loan Rau?

1. Easy repayment options.
2. Instant funding/ quick disbursal.
3. Loan Tenure varies from 1 to 7 years.
4. Affordable rate of Interest
5. Easily and hassle free documentation.
6. No hidden charges.

Documents for Car Loan Rau

1. Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License, Aadhar Card
2. Income Proof: For Salaried Latest salary slip with form 16 / For Self- Employed Latest ITR
3. Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy / PAN Card / Aadhar Card
4. Bank Statement: Bank statements for the last six months is also required.
5. Car quotation is also required.

Fee and Other Charges for Car Loan Rau

1. Stamp duty charge.
2. Processing fee charged depends on two things. For the amount up to Rs.2.5lacs, the processing fee is Rs.2825/-. For amount more than Rs.2.5lacs, the processing fee is Rs.3850/-. The maximum amount which can be charged for processing fee is Rs.5000/-. However, Dialabank provides the processing fee at an attractive price of Rs.1785/- only.
3. Loan cancellation or rebooking charges: In the event of cancellation, interest charges from disbursement date till refund of disbursement amount will be borne by the customer.
4. Legal, Repossession and Incidental Charges: At Actuals
5. Loan rescheduling charges:  Rs.1000

Eligibility for Car Loan Rau

Private Employees

If the salary of the individual is more than Rs. 25,000 then the loan is given on a 100% ex-showroom price.

Government Employees

If the government employee has his own house and has a good CIBIL score then the loan is given on 100 % on road price.

Internal Customer

1oo% on road loan is given, if the customer is from HDFC, Kotak, Yes Bank or Axis bank.

Additional Information about Car Loan Rau

1.  The CIBIL of the applicant needs to be more than 700.
2.  The loan is given for a period of 60 months to 84 months.
3.  The minimum amount of credit that can be claimed by the applicant is Rs. 1 lakh.
4.  Also, the top-up amount is twice the amount paid by the applicant to the bank.
5.  The persons having CIBIL 0, 1, -1 is also considered for the loan.
6.  If the installment gets bounced, then the amount charged by the bank will be doubled for the next month.

Car Loan Rau for the Agriculturists

If the amount is Rs.10 lacs, then, the farmer should have a land of about 3-5 acres, and he will get a loan of 65-75% of the total loan amount.

If the loan amount is more than Rs 10 lacs, then the farmer should own at least 20 acres of land. He will get the percentage of the loan amount depending upon his income and ITR.

About Rau

Rau is a suburb in Indore district in the state of Madhya Pradesh. It has a population of 40,055 .

Why should you choose DialaBank for a car loan?

1. Dialabank offers you a car with the lowest interest rates and with hassle free documentation. 
2. Dialabank Car Loan is one of the best options that allow an individual to buy a car.
3. Dialabank offers car loans up to 100% ex-showroom price of the car, and up to 7 years tenure.
4. Apply now on our official website dialabank for instant approval and faster processing of your car loan.

How to apply for Car Loan Rau?

1. Visit dialabank
2. Go to the loan section and select auto loan followed by car loan link.
3. The applicant will be directed to the details of the car loan where they can choose their preferred city.

Car Loan Providers