Car Loan Rayagada

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Car Loan Rayagada

Best Banks for Car Loan in Rayagada

Feature
HDFC Bank
Private 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 Rayagada Features

Car loan Rayagada

A car loan is a financial help provided by banks and NBFC’s to fulfil your dream of having your own car. They provide necessary funding for purchasing a car which can be on Ex-Showroom Price or On-Road Price of the car. Car Loan is a secured loan with easy repayment options. The loan amount is offered on Interest charges which vary from bank to bank. One can pay for the vehicle in easy instalments.

Features of car loan in Rayagada are:

  • Easy monthly repayment options
  • Instantly available
  • Loan Tenure period varies from 1-7 years
  • Affordable car loan interest Rates
  • No hidden charges
  • Quick approval with minimum documentation

Car Loan Rayagada Interest Rates

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
Private 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 Rayagada Documents Required

The essential documents required for a car loan to get a car loan approved in Rayagada are as follows:

For Salaried Individuals

  1. Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
  2. Income Proof: – Latest 3-month salary slip with form 16
  3. Residence Proof: Any one of the following (Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill)
  4. Bank Statement: Last 6 months.

 For Self Employed

  • Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
  • Income Proof: – Latest ITR reports.
  • Residence Proof: Any one of the following (Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill)
  • Bank Statement: Last 6 months

Car Loan Rayagada Eligibility Criteria

The car loan eligibility criteria requirements are as followed in Rayagada:

Salaried Individuals

  1. The age should be a minimum of 21years.
  2. The maximum age should not be more than 60 years
  3. A minimum of 1 year in current employment and a previous minimum of 2 years of total employment is necessary
  4. A minimum of Rs 100000 income per annum

Self-employed Individuals

  1. The age should be between 30-65 years.
  2. At least 3 years of working business.
  3. A minimum of Rs. 60000 p.a net profits for standard cars and Rs.100000 p.a. for mid-sized and premium cars

Car Loan for Major Car Manufacturers in Rayagada

TABLE WILL APPEAR

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Processing Fees & Prepayment Charges on Car Loan Rayagada

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 Rayagada Agent Contact Number

To get an easy and instant car loan you can visit DialaBank or call on 9878981166 to get personalized assistance. Our relationship managers are well trained and will assist you in the best ever way possible in order to provide you with a deal most suited for you.

Pre Calculated EMI Table for Car Loan Rayagada

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 Rayagada

Car loan EMI can be calculated by the Car loan EMI Calculator provided by Dialabank. It is free to use and you can use it an infinite number of times. Equated Monthly Installments(EMI) is the monthly fixed charges that you pay to the bank as monthly repayment for the loan amount borrowed. Based on the profile, the interest rate on the loan is determined. EMI is calculated based on the Interest Rate you are charged by the bank and the amount of loan you have to take and the period for which you enjoy the car loan.

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