Car Loan Sehore

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Car Loan Sehore

Best Banks for Car Loan in Sehore

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 Sehore Features

car loan sehoreA car loan is a financial assistance provided by banks and NBFC’s to individuals in need of cash to fulfill their dreams of having their own car. They provide the necessary funding according to your eligibility for purchasing a car in Sehore which can be on Ex-Showroom Price or On-Road Price of the car. A car Loan Sehore is a secured form of a loan with easy repayment options. Low-interest rates EMI options are available for car loans in Sehore.

Car Loan Sehore 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 Sehore Documents Required

Documents required for car loan are as followed:

For salaried:

  • Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
  • Income Proof: Latest 3-month salary slip with form 16
  • Address Proof: as Ration card / Adhar card/ Driving license / Passport / Telephone Bill / Life Insurance Policy /PAN Card or any other relevant proof
  • Bank Statement: previous 6 months.

For self-employed:

  • Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
  • Income Proof: Latest ITR
  • Address Proof: as Ration card / Adhar card/ Driving license / Passport / Telephone Bill / Life Insurance Policy /PAN Card or any other relevant proof
  • Bank Statement: previous 6 months.

Car Loan Sehore Eligibility Criteria

The car loan eligibility requirements are as followed in Sehore:

For salaried:

  • The age for a salaried individual should range between 21 and 60 years to get a car loan.
  • One-year employment is essential for salaried applicants
  • Rs 100000 net annual income is required

For self-employed:

  • The age for a self-employed should be between 30 and 65 years for a car loan.
  •  3 years of operating business is essential for a self-employed
  •  Rs. 60000- 1000000 p.a is required for a self-employed person

Car Loan for Major Car Manufacturers in Sehore

TABLE WILL APPEAR

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Processing Fees & Prepayment Charges on Car Loan Sehore

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 Sehore

CIBIL score also known as credit score is the score that defines the credit-history of an applicant and his repayment of the past. The effectiveness with which an applicant has paid off his previous loans can be depicted and studied through this score. Any kind of loan including the car loan requires a good CIBIL score of the applicant whose exact value may differ from one bank to another. But, a score of 750 and above is considered a good score and makes the entire process of car loan in Sehore availability easy and convenient.

The higher the CIBIL score, the easier it becomes for an individual to avail a car loan in the city.

Car Loan Sehore Contact Number

For any queries related to a car loan in Sehore, you may contact the number 9878981166.

Pre Calculated EMI Table for Car Loan Sehore

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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