Car Loan Serchhip

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Car Loan Serchhip

Best Banks for Car Loan in Serchhip


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Car Loan Serchhip Features

Loan Approval in 30 Minutes
Lowest Rate of Interest
Up to 100% on Road Loan
Minimum Documentation
Paperless Process
Flexible Repayment
Zero Foreclosure
24 x 7 Online Payment Facility
No Hidden Charges


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Car Loan Serchhip

Car Loan Serchhip Eligibility Criteria

Salaried Individual
Age – 21 years to 60 years
Net Monthly Income – Minimum ₹ 20,000
Employment Duration – 1-year minimum
Income Eligibility – Based on Form 16 and salary slip
Self-Employed Individuals
Age – 21-65 years of age
Minimum ITR – Rs.2 lakh
Employment Duration – Minimum 3 years
Income Eligibility – Depends on the latest Income Tax Returns
Self-Employed Non-Individuals (Company/Partnership)
Minimum ITR – Rs. 2 lakh
Employment Duration – 3 years minimum
The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
At least 6-month vintage
Average Quarterly Balance – 2 quarters balance at a minimum of Rs.1 lakh
Maximum Loan Amount – 3 times the Average Quarterly Balance of the last 2 Quarters

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Car Loan Serchhip EMI Calculator

Car Loan Serchhip Fees & Charges

Charges New Car Loan Used Car Loan
Interest Rate

7.35% per annum

11.80% p.a. to 13.80% p.a.
Car loan Processing fees 0.5% 0.5%
Issuance of Duplicate Repayment Schedule Charges Around Rs.500 Around Rs.500
Foreclosure Charges 0.06 0.06
Penal Interest 2% PM 2% PM
Car loan Part Payment charges 6% of the amount 6% of the amount
Cheque/Instrument Swap Charge Around Rs.500 Around Rs.500
Documentation Charge Around Rs. 500 Around Rs. 500
Issuance of Duplicate No Dues Certificate Charges Around Rs. 500 Around Rs. 500
Registration Certification Collection Charge Around Rs. 200 Around Rs. 200
Cheque Bounce/Instrument Return Charges Around Rs. 500 Around Rs. 500
Issuance of Duplicate Statement Charges Around Rs. 500 Around Rs. 500
Loan Cancellation/Re-booking Charges Around Rs. 1000 Around Rs. 1000
Issuance of Credit Report Around Rs. 50 Around Rs. 50

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Car Loan Serchhip Fees and Charges: Leading Banks –May 26 2022

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 Serchhip Documents Required

Salaried Individual

Category
Documents Required
Identity Proof (Any 1) Passport
Voter ID
Aadhar Card
Driving License
Address Proof (Any 1) Aadhar Card
PAN
Driving License
Electricity Bill
Date of Birth Proof(Any 1)
Passport
Birth Certificate
High School Marksheet
Driving Licence
Signature Proof(Any 1)
PAN
Bankers Verification
Passport
Income Proof
Salary Slip and latest Form No.16
Bank Statement
Last 6 month Bank statement
Employment Continuity Proof
Job card by NREGA
ITR of Form no. 16
Salary Slip mentioned with joining date
Letter of Appointment

 

Self-Employed Individuals

Category
Documents Required
Identity Proof (Any 1) PAN Card
Passport
Voter ID
Aadhar Card
Address Proof (Any 1) PAN Card
Voter ID
Passport
Electricity Bill
Date of Birth Proof (Any 1) Birth Certificate
Passport
Driving Licence
PAN
Signature Proof (Any 1)
PAN
Bankers Verification
Passport
Bank Statement
Bank statement of last 6 months
Employment Continuity Proof
Latest ITRs
Shop & Establishment Act Certificate
Shop & Establishment Act Certificate
Sales Tax or VAT Certificate
Business Proof
Registration Certificate
Telephone Bill/Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate

 

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

Category
Documents Required
Identity Proof (Any 1) Driving Licence
PAN Card
Aadhar Card
Passport
Address Proof (Any 1)
Electricity Bill/Telephone Bill
Aadhar Card
Driving License
Voter ID
Income Proof
Audited Balance Sheet
P&L Account
ITR for the previous 2 years
Bank Statement Last 6 month
Business Continuity Proof
Company ITR of the last 2 years
Audited Balance Sheet
TAX registration Certificate
Current Account Statement
Additional documents
Letter of Authority or PAN Card

 

2. Private Limited/Limited Companies

Category
Documents Required
Identity Proof
The latest copy of MOA and AOA
Copy of Incorporation
Address Proof (Any 1)
SSI/MSME Registration Certificate
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
Sales Tax Certificate
Income Proof
Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Previous 6 Months
Business Continuity Proof
P&L account and
ITR of the Company of the past 2 years
Audited Balance Sheet
Shop & Establishment Act Certificate
Additional documents
List of Shareholding partners and Directors
Board Resolution
PAN Card
Certificate of Commencement of Business for Ltd. Co.


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How to Get the Best Car Loan Interest Rates in Serchhip

The interest rates on vehicle loans offered by different lenders in Serchhip may vary, but they all are competitive and reasonable. So, if you want to get a car loan in Serchhip with the lowest interest rate, then follow the below-mentioned steps:

  • Choose a shorter repayment term – Borrowers usually believe that lengthier repayment terms are better as compared to shorter repayment terms as the monthly EMI are low. Generally applicants don’t seem to be aware of the fact that lengthier payback terms are viewed by the lenders as an indication of a low repayment capabilities of a borrower, due to which they charge higher interest rates.
  • Compare the perks offered by different banks and lenders – To get a decent deal on an auto loan, it is always advised that you must compare and explore deals and benefits offered by different lenders.
  • Modest debt-to-income ratio – Debt-to-income helps measure the how much amount of applicant’s income goes into the loan repayment and banks can take this information into their account while setting a interest rates for the loan. If your ratio of debt to income is low than you have a better chance of getting a car loan at a low interest rate.
  • Have a Good credit score — Having a good credit score will get you car loan with cheaper interest rates from the lenders as it indicates your ability to pay off credits. A CIBIL Score of 750 is considered as good by lenders or bank. Some lenders would provide auto loans to applicants with bad credit, but they will demand a higher interest rate on loan.

How to Apply for Car Loan in Serchhip ?

Availing of a car loan in Serchhip is an easy process with Dialabank. Follow these steps to apply for Car loan in Serchhip :

  • Visit our website Dialabank .
  • Click on car loan option in the menu.
  • Fill out the application form with all the required information and details.
  • Once you have filled in details, soon you will be contacted by the relationship manager for further procedure. .
  • Regarding any queries or issues about the loan you can contact on 9878981166.
  • For offline method visit the branch personally for car loan but might turn to be hectic for you.

Which Bank in Serchhip Offers the Best Car Loans?

In Serchhip there are several NBFCs and banks, including HDFC, ICICI, and SBI, that offers vehicle loans. A lender that provides you with a reasonable rate of interest in your loan amount and can provide the funds as quickly as feasible is the best lender. It is always advised to check and compare vehicle loans from several lenders before applying for one that meets all of your requirements, such as interest rates.

Car Loan for Major Car Manufacturers in Serchhip

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Serchhip

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

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CIBIL Score Required for Car Loan in Serchhip

CIBIL Score indicates your ability to pay off your credits. High Credit score indicates the applicant has had a good credit history and is eligible for the loan which makes your loan application process easy and smooth to be processed. Majority, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Serchhip .

This score usually vary from bank to bank. In case you have a CIBIL score lower than the required value, then you will be required to pay a high rate interest rate on your loan amount, low rate of interest is offered by the lenders if you have a good CIBIL Score.

Car Loan Serchhip Contact Number

In case if you have queries or issues regarding the car loan in Serchhip , you can contact us on the number 9878981166 for any sort of assistance.


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Pre Calculated EMI Table for Car Loan Serchhip

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 Serchhip

Serchipp is a headquarters town located in District Serchhip in Mizoram State. It is situated in the Central part of state Mizoram and about 112km away from Aizawl.

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Car Loan Banks In Serchhip

Bank Name Bank Address IFSC Code
STATE BANK OF INDIA DIST SERCHHIP, MIZORAM 796181 SBIN0005826
UNITED BANK OF INDIA H.NO.A71,TUIKHUAH-VENG(LUNGLEI ROAD),SERCHHIP-796181 UTBI0SEHR44
YES BANK BAZAR VENG SERCHHIP 796181 YESB0MAB011

FAQ’s About Serchhip Car Loan

✅ How can I get an interest calculator?

You can use the EMI Calculator on the lending bank or on the Dialabank website. Enter various interest rates in order to calculate the EMIs. By filling out an application for a loan, you can obtain the interest rate which will require you to provide basic information such as your work experience, company and salary depending on which interest rates will be presented.

✅ Can I acquire a loan on my current vehicle?

Yes, you can acquire a loan on your current vehicle if you have a good payment history with your lender.

✅ Who is a guarantor in a Car Loan?

A guarantor is a co-applicant the lender or bank ask for in case the applicant doesn’t meet the qualifications required for the loan.