Car Loan Silchar

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Car Loan Silchar

Best Banks for Car Loan in Silchar

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 Silchar Features

Car Loan Silchar

With a variety of cars coming to the market every week, who does not want to upgrade their lifestyle and have a brand new car? But mostly this wish is not fulfilled due to financial constraints. Car Loans provide you the facility to finance the car you want at affordable rates without much paperwork.

Car Loans are secured loans that almost all the banks and NBFCs offer. Generally, the car you purchase serves as the collateral security and the lender can confiscate it if you fail to repay the loan amount.

 

Car Loan Silchar 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 Car Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates

Car Loan Silchar Documents Required

Documents required for car loan are as followed:

For Salaried Employee

  1. Identity Proof: Provide any ID like Passport copy, PAN Card, Voters ID card, Driving License
  2. Income Proof: It is mandatory to provide the latest 3-month salary slip with form 16
  3. Address Proof: Permanent address proof like Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  4. Bank Statement: The last six months’ statement to be submitted by the applicant.

For Self-Employed

    1. Identity Proof: Provide any ID like Passport copy, PAN Card, Voters ID card, Driving License
    2. Income Proof: Latest ITR proof
    3. Address Proof: Permanent address proof like Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
    4. Bank Statement: The last six months’ statement to be submitted by the applicant.

Car Loan Silchar Eligibility Criteria

The car loan eligibility requirements are as followed in Silchar:

For Salaried Employee

  1. The minimum age requirements are 21 years.
  2. The applicants should not be more than 60 and 65 years at the time of completion of tenure
  3. The individuals should possess a minimum of 1-year experience in current employment and a minimum of 2 years of employment from the past
  4. Minimum Annual Income: For such applicants Rs 100000 net annual income
  5. Usually getting a car loan is easier when the applicant possesses a CIBIL score of 750 and above that is an essential factor required for the loan approval in Silchar.

For Self Employed

  1. The minimum age requirements are 30 years in case of a self-employed
  2. The applicants should not be more than 60 and 65 years at the time of the completion of the loan tenure.
  3.  At least 3 years in operating business
  4. Minimum Annual Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for best mid-sized and premium cars
  5. Usually getting a car loan is easier when the applicant possesses a CIBIL score of 750 and above which is an essential factor required for the loan approval in Silchar.

Car Loan for Major Car Manufacturers in Silchar

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TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Silchar

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 Silchar

CIBIL score is an important aspect based on which the banks and NBFCs approve a car loan to any customer. The minimum requirement of a credit score for a car loan varies from bank to bank. Generally, a CIBIL score above 750 is considered to be decent for any individual to be eligible to apply for a car loan

It is important for an individual to clear all the pending dues and debts of previous loans in order to maintain a good credit score. Default in your credit score may hinder your opportunities for availing a fresh loan in the future.

Car Loan Silchar Contact Number

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To get an instant car loan you can visit our website Dialabank or call on 9878981166 to get free assistance. Our executives are well trained and will assist you in the best way possible in order to provide you with a deal most suited for you.

Pre Calculated EMI Table for Car Loan Silchar

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

You can calculate your EMI here: Car Loan EMI Calculator

About Silchar

Silchar is the headquarters of Cachar district in the state of Assam in India. It is 343 kilometers southeast of Guwahati. It earned it the bon mot of “The Island of Peace” from India’s then prime minister Indira Gandhi. In the 1850s, British tea planters re-discovered the game polo in Manipur on the Burmese border with India. The first polo club in the world was formed at Silchar. The first competitive modern form of polo was played in Silchar, and the plaque for this feat still stands behind the District Library, Silchar. 

Special Note: Banks do not provide Car Loans to individuals with bad credit history, but one can fulfill their money requirement with Gold Loan easily.

 

Car Loan EMI Calculator

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