Car Loan Sevoor

Best Banks for Car Loan in Sevoor

Car Loan Sevoor 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

Car Loan Sevoor 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

Car Loan Sevoor EMI Calculator

Car Loan Sevoor 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

Car Loan Sevoor Fees and Charges: Leading Banks –Jun 09 2023

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
Private 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 Sevoor 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.

How to Get the Best Car Loan Interest Rates in Sevoor

The interest rates on vehicle loans offered by different lenders in Sevoor may vary, but they all are competitive and reasonable. So, if you want to get a car loan in Sevoor 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. It will help you choose the bank or lender with the most beneficial and suitable deal for you.
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 Sevoor ?

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

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 Sevoor Offers the Best Car Loans?

In Sevoor there are several NBFCs and banks, including HDFC, Private, 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 Sevoor

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Sevoor

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
Prepayment Charges	>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 Sevoor

A CIBIL Score indicates your ability to pay off your credits. A 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. The majority, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Sevoor.

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 Sevoor Contact Number

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

Pre Calculated EMI Table for Car Loan Sevoor

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 Sevoor

Sevoor is a village in District vellore in State Tamil Nadu. It is famous for it’s Vishnu temple in India.

FAQ’s About Sevoor Car Loan

✅ What are the methods for repaying my Sevoor Car Loan?

There are three ways to repay your loan: Electronic Clearing Service (ECS), Standing Instruction, and Direct Debit (SI). It is recommended that you return your loan via the first two options since they are speedier and have a lesser chance of error, but the third method, Post-Dated Cheque, does not (PDCs).