Car Loan Roorkee

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Car Loan Roorkee

Best Banks for Car Loans in Roorkee

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 Roorkee Features

Car loan Roorkee

Purchasing a car from your own pocket is a difficult task for the single earner of the family, but there is a saying if all of the doors are shut there is always a ray of hope. Thus, Car Financing is the best way to attain cash in a short span of time. It is a better way to arrange funds to purchase the dream car with ease.

A car loan is a financial help provided by banks and NBFC’s to fulfill 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. A 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 installments.

Some of the features of Car loan Roorkee are:

  • Up to 90-95%% funding available for new cars
  • Up to 80-85%% funding available for used cars
  • The loan period is usually between 1 to 7 years.
  • The car loan rate of interest is calculated on the basis of compound interest.
  • Equated Monthly Instalment is worked out for repayment.
  • Early settlement of the pending amount is available subject to the pre-payment penalty.

Car Loan Roorkee 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
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 Roorkee Documents Required

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Documents required for car loan are as followed:

For salaried individuals:

  • Identity proof- passport copy, PAN Card, Voters ID card, Driving license
  • Income proof- Latest 3-month salary slip with form 16
  • Address proof- Ration card/ Driving license/Voters card/Passport Copy/Telephone Bill/Electricity Bill/Life Insurance Policy/PAN Card
  • Bank statement for the last 6 months

For self-employed individuals:

  • Identity proof- Passport copy, PAN Card, Voters ID card, Driving license
  • Income proof- Latest ITR
  • Address proof- Ration card/Driving License/Voters card/Passport Copy/Telephone Bill/Electricity Bill/Life Insurance Policy/PAN Card
  • Bank statement for the last 6 months

Car Loan Roorkee Eligibility Criteria

The car loan eligibility requirements are as followed in Roorkee:

For salaried individuals:

  • The applicant should have a minimum age of 21 years and a maximum age of 65 years
  • They need to be at least 1 year in current employment and a minimum of 2 years of employment
  • They should have a net annual income of Rs. 100,000

For self-employed individuals:

  • The applicant should have a minimum age of 21 years and a maximum age of 65 years
  • They should be at least 3 years in business
  • They should have a Net profit of Rs.60,000 p.a for standard cars and Rs.100,000 p.a. for mid-sized and premium cars.

Car Loan for Major Car Manufacturers in Roorkee 

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Roorkee

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 Roorkee

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The CIBIL score is referred to as your ability to pay off your credits and is based on your repayment history. A higher Credit score means good credit history and makes your car loan application process smooth and easy, while a lower score can charge you a higher interest rate. Mostly, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Pondicherry. This score may again vary from bank to bank. Thus, a CIBIL score is an important factor in a car loan.

Car Loan Roorkee Contact Number

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

Pre Calculated EMI Table for Car Loan Roorkee

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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