Car Loan Secunderabad

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Rates as low as 8.50%*
Up to 100% Funding
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Best Banks for Car Loan in Secunderabad

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 Secunderabad Features

Car loan secunderabadThinking of purchasing your dream car? But don’t have the required funds? Worry not! A car loan is here for you. A car loan is a means of funding or financial help provided by banks and NBFCs to applicants at an affordable rate of interest to aid them in buying a car. Since cars have now become a necessity for everyone, but the cost of cars is growing rapidly daily. This is where a car loan comes into play and fulfills your desire to be the owner of a luxurious car. The main features of a car loan in Secunderabad are:

  • Car loans are available at low-interest rates
  • Almost all major banks and NBFCs offer car loans in Secunderabad
  • The documentation process is quick and hassle-free
  • Car loans are easily available through Dialabank

Car Loan Secunderabad Interest Rate

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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
1%
Nil
Andhra Bank Car Loan
Nil
Nil

 

To check Personal Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates

Car Loan Secunderabad Documents Required

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

For Salaried Employees

  1. 2 passport size photocopies are necessary.
  2. Proofs like PAN Card, Voters ID card, Driving License are required.
  3. For Salaried– Latest 3-month salary slip with form 16.
  4. Ration card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy is required to apply for the loan.
  5.  The last 6 months’ bank statement is needed.

For Self Employed

  1. 2 passport size photocopies are necessary.
  2. Proofs like PAN Card, Voters ID card, Driving License are required.
  3. For Self Employed- Latest Income tax returns required.
  4. Ration card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy is required to apply for the loan.
  5.  The last 6 months’ bank statement is needed.

Car Loan Secunderabad Eligibility Criteria

The car loan eligibility requirements are as followed in Secunderabad:

For Salaried Employee

  1. Firstly, the borrower must be an Indian citizen.
  2. Secondly, the minimum applicant age  21 yrs as well as older than 60 yrs at loan maturity to the avail car loan.
  3. Thirdly, He/she must have a good annual income that properly demonstrates his/her capacity for loan repayment the amount he borrows.
  4. Besides that,  the applicant must have secure employment working the current job status of one year as well as regular income in the account.
  5. More importantly, he must possess a mobile number that marks his address and the occupation of that address for an expected duration of time.
  6. Besides that, the borrower should have some source of income.
  7. After that, the monthly income of the applicant should be Rs. 18k minimum.
  8. After that, the borrower should be from two years in employment as well as from 1 year in the same company.
  9. Finally, CIBIL scores of the borrower should be more than 750.

For Self Employed

  1. Firstly, the borrower must be an Indian citizen.
  2. Secondly, the minimum applicant age  21 yrs as well as older than 60 yrs at loan maturity to the avail car loan.
  3. More importantly, he must possess a mobile number that marks his address and the occupation of that address for an expected duration of time.
  4. Moreover, the borrower should be in the business for two years.
  5. Finally, CIBIL scores of the borrower should be more than 750.

Car Loan for Major Car Manufacturers in

Secunderabad

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TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Secunderabad

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 Secunderabad

The Cibil score is what defines your ability to pay off your credits. A higher Credit score defines your good credit history and makes your application process smooth and easy to be processed. Usually, banks and NBFCs require a credit score of 750 and above to approve your loan application process in Secunderabad. This score may vary from bank to bank. In case a CIBIL score is less than the required value you will be required to pay a high rate interest rate on the loan amount.

Car Loan Secunderabad Contact Number

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In case of any queries regarding the car loan in Secunderabad, you may contact on the number 9878981166 for full assistance in regards to the car loan process.

Or you can visit our website at Dialabank

Pre Calculated EMI Table for Car Loan Secunderabad

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 Secunderabad

Secunderabad is known as the twin city of Hyderabad in the Indian kingdom of Telangana. Named after Sikandar Jah, the third Nizam of the Asaf Jahi dynasty, Secunderabad which was established in 1806 as a British cantonment. Despite the fact that each the cities is together referred to as the twin towns, Hyderabad and Secunderabad have exclusive histories and cultures, with Secunderabad having developed at once underneath British rule until 1948, and Hyderabad as the capital of the Nizams’ princely kingdom of Hyderabad.

Car Loan EMI Calculator

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