Car Loan Rourkela

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Car Loan Rourkela

Best Banks for Car Loan in Rourkela

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 Rourkela Features

Car loan Rourkela

No one can stop dreaming whether it is buying a car or any other item. When you have sufficient funds you can easily borrow the desired item at once, but it becomes impossible to borrow the desired things at low-interest rates. A car loan is the best way to arrange funds in a short time with easy and simple loan procedures.

Car Loan Rourkela provides financial assistance to the customers at the best affordable interest rates.

A car loan is a financial help provided by banks and NBFC’s to fulfill your dream of having your own car. A car loan is a secured loan with easy repayment choices. The loan amount is given on Interest charges which differ from bank to bank. One can pay for the vehicle in easy payments.

Some of the features are:

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

Car Loan Rourkela Interest Rates

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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 Rourkela Documents Required

Documents required for car loan are as followed:

For Salaried Individuals:

  1. Proof of Identity: Copy of Passport, Driving License, PAN Card, Electoral Photo ID card can be used as ID proof.
  2. Income Proof: 3 months or 6 months salary slip with Income Tax Return
  3. Address Proof: Driving License, Electricity Bill, PAN Card, Voter ID Card, and Life Insurance Policy are valid residence proofs.
  4. Last six months’ bank statement

For Self-employed individuals:

  1. Proof of Identity: Copy of Passport, Driving License, PAN Card, Electoral Photo ID card can be used as ID proof.
  2. Income Proof: Income Tax Return.
  3. Address Proof: Driving License, Electricity Bill, PAN Card, Voter ID Card, and Life Insurance Policy are valid residence proofs.
  4. Last six months’ bank statement

Car Loan Rourkela Eligibility Criteria

The car loan eligibility requirements are as followed in Rourkela:

For Salaried Individuals:

  1. The minimum age required to avail of a loan is 21 years.
  2. The maximum age at the loan maturity ought to be 65 years.
  3. The salaried claimant should be employed for 1 year in current employment and a minimum of 2 years of total employment.
  4. The minimum annual income for the salaried claimant should be Rs 1,00,0000 net annual income.

For Self-employed Individuals

  1. The minimum age required to avail of a loan is 21 years.
  2. The maximum age at the loan maturity ought to be 65 years.
  3. The Self-employed claimant must be active in Business for at least three years.
  4. The Self-employed claimant should have a net profit of Rs 60,000 per annum for standard cars and Rs 1,00,000 per annum for mid-sized premium cars.

How to Apply for Car Loan in Rourkela?

Apply for a Car Loan

Avail car loan online in Rourkela is an easy process with DialaBank. These are the steps you should understand:

  • Visit our website at Dialabank.
  • Click on the car loan option accessible on the menu.
  • Fill in the details about the car type and your income.
  • Wait as our relationship manager will get in touch with you on your given number.
  • You may also contact our relationship managers on 9878981166 in case of any queries.
  • The offline process may require physical labor.

Car Loan for major car manufacturers in Rourkela

TABLE WILL APPEAR

Processing Fees/Prepayment Charges on Car Loan in Rourkela

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 Rourkela

CIBIL score which is also known as credit score is the score that defines the credit-history of an individual. The effectiveness with which a person has paid off his previous loans is depicted through this credit score. Any kind of loan including the car loan requires an excellent CIBIL score of the individual. The exact value may differ from one bank to another with time. But, a score of 750 and above is always considered a good score and makes the entire process of car loan in Rourkela easier.

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Car Loan Rourkela Contact Number

For any assistance regarding instant car loan, you can call us on 9878981166

Pre Calculated EMI Table for Car Loan Rourkela

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 Rourkela

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In the coastal state of Odisha, Rourkela is an  Indian city and the 3rd biggest city of the Odisha state following Cuttack and Bhubaneshwar. Besides being a big city, it is home to the largest steel plant aka SAIL (Steel Authority of India). Also, the city has its National Institute of Technology as well.

Special Note: Banks do not provide Car Loans to bad credit holders, but one can fulfill their money requirement with Gold Loan easily.

Car Loan EMI Calculator Rourkela

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