Car Loan Samana

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Car Loan Samana

Major Car Loan Providers in Samana

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 Samana FeaturesCar Loan Samana

In the present scenario, a car has become a necessity rather than a luxury, so much that we almost cannot imagine our life without a car. Budget constraints deter us from buying one for ourselves. A car loan can bring your dreams to reality, and you too can have a car of your own.

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

Features of car loan in Samana 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 to acquire a loan.

Car Loan Samana 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 Samana Documents Required

Documents required for car loan are as followed:

For Salaried Employees

  1. ID Proof: Aadhar Card/ Driving License/ Pan Card/ Passport Copy, etc.
  2. Proof of Address: Water Bill/ Voter ID/ Telephone bill/ Passport Copy
  3. Income Proof: Previous 3 months salary slips or Form 16 for a salaried individual
  4. Recent passport size photographs-2 of the applicant

For Self Employed

  1. ID Proof: Aadhar Card/ Driving License/ Pan Card/ Passport Copy, etc.
  2. Proof of Address: Water Bill/ Voter ID/ Telephone bill/ Passport Copy
  3. Income Proof: Recent tax return files for a such individual
  4. Recent passport size photographs-2 of the applicant

Car Loan Samana Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Employee

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: For Salaried- 1 year in current employment and a minimum of 2 years of employment experience with documented proof
  4. Minimum Annual Income:  Rs 100000 net annual income is a must

For Self Employed

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: at least 3 years in the current business
  4. Minimum Annual Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars

Car Loan for Major Car Manufacturers in Samana

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TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Samana

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 Samana

CIBIL score reflects your credit history in the past as well as your defaults in repayment of your previous loans. A good credit score is considered as 750 and above as most of the financial institutions ask for a high credit score. Every bank and NBFC has different criteria for a minimum CIBIL score they require to process your loan. A Lower CIBIL score than 750 can attract a higher car loan rate of interest.

A very low CIBIL score might lead to rejection of your loan as it is the first thing a bank tracks before processing your loan.

Car Loan Samana Contact Number

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For more information regarding the car loan, drop us a call at 9878981166

For further assistance you can also visit us at Dialabank

Pre Calculated EMI Table for Car Loan Samana

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 Samana

Samana is a unique city and a municipal council in Patiala district in the Indian state of Punjab.

Before Independence, Samana was a part of Patiala Kingdom (PEPSU). Now it is a part of Patiala District of Punjab (India). Manchmukhi Temple and Gurudwara Thada Sahib are some of the places that tourists visit.

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

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