Car Loan Sonai

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Car Loan Sonai

Best Banks for Car Loan in Sonai

Feature
HDFC Bank
ICICI Bank
Kotak Mahindra Bank
Interest Rate (p.a.)
7.35 - 7.95%
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


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Car Loan Sonai 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 Sonai

Car Loan Sonai 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 Sonai EMI Calculator

Car Loan Sonai 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 Sonai Fees and Charges: Leading Banks –May 28 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 Sonai 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 Sonai

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

  • Short repayment term – Applicants usually believe that lengthier repayment terms are better than shorter repayment terms as the monthly EMI are low. Generally, applicants don’t seem to be aware that the lenders view lengthier payback terms as an indication of the 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 how much of the applicant’s income goes into the loan repayment. Banks can take this information into their account while setting interest rates for the loan. Therefore, if your ratio of debt to income is low, then you have a better chance of getting a car loan at a low-interest rate.
  • Maintain your credit score — Having a good credit score will get you a car loan with cheaper interest rates from the lenders as it indicates your ability to pay off credits. For example, a CIBIL Score of 750 is considered good by lenders or banks. Some lenders would provide auto loans to applicants with bad credit, but they will demand a higher interest rate on loans.

How to Apply for a Car Loan in Sonai?

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

  • Visit our website Dialabank.
  • Click on the 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 the offline method, visit the branch personally for a car loan, but it might become hectic for you.

Which Bank in Sonai Offers the Best Car Loans?

Numerous NBFCs and banks, including HDFC, ICICI, and SBI, offer vehicle loans for borrowers in Sonai. However, it is crucial you choose a lender that provides you with a reasonable interest rate in your loan amount and can provide the funds as quickly as feasible as they are considered as the best lender. Therefore, 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 Sonai

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Sonai

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 Sonai

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, making 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 Sonai.

This score usually varies from bank to bank. If you have a CIBIL score lower than the required value, you will be required to pay a high-interest rate on your loan amount. On the other hand, the lenders offer a low-interest rate if you have a good CIBIL Score.

Car Loan Sonai Contact Number

If you face any issues regarding car loans in Sonai, you can contact us on 9878981166 for any assistance.


car loan

Pre Calculated EMI Table for Car Loan Sonai

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 Sonai

Sonai is a town located in district Cachar under Assam state. It was also declared as the municipal area by the government in 2016.


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FAQ’s About Sonai Car Loan

✅ What are the various methods for repaying Car loans in Sonai? 

You can repay your car loans in sonai using three methods Electronic Clearing Service (ECS), Standing Instruction (SI) it is usually advised to repay your loan using these two methods as they are faster and have a lower risk of error, which is not the case with third method Post-Dated Cheques (PDCs).

✅ What is a suitable CIBIL Score for getting a car loan in Sonai?

A CIBIL score of 750 and above is good for applying for a Car loan in Sonai.

✅ Is interest rates in car loans negotiable?

Negotiation of interest rates depends on the borrower’s past record, CIBIL Score, relationship with the lenders and various others if these factors are available then interest rates can be negotiated.