Car Loan Srinagar

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Car Loan Srinagar

Best Banks for Car Loan in Srinagar

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 Srinagar Features

Car loan SrinagarA car loan is a financial assistance given to customers by banks and NBFCs to fulfill their dreams of owning their own vehicle. They include the requisite financing according to your eligibility to purchase a car that might be on the car’s Ex-Showroom Price or On-Road Price. A car loan is a secured form of a loan with easy options to repay. EMI options for car loans Srinagar are available at low-interest rates.

Car Loan Srinagar 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 Srinagar Documents Required

Documents required for car loan are as followed:

For Salaried:-

  • Identity Proof: PAN Card, Voters ID card, Passport copy, Driving License
  • Income Proof: Latest 3-month salary slip with form 16
  • Address Proof: Driving license / Voters card / Passport Copy / Telephone Bill / Ration card / Electricity Bill / Life Insurance Policy /PAN Card
  • Bank Statement: Last 6 months.

For Self Employed:-

  • Identity Proof: PAN Card, Voters ID card, Passport copy, Driving License
  • Income Proof: Latest ITR
  • Address Proof: Voters card / Passport Copy / Ration card / Telephone Bill / Driving license / Electricity Bill / Life Insurance Policy /PAN Card
  • Bank Statement: Last 6 months.

Car Loan Srinagar Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried:-

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: 1 year in current employment and a minimum of 2 years of employment
  4. Minimum Annual Income: Rs 1,00,000 net annual income

For Self-Employed:-

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: at smallest 3 years in sales
  4. Minimum Annual Income: Net profit Rs. 60,000 p.a for regular cars and Rs.1,00,000 p.a. for mid-sized and superior cars

How to Apply for Car Loan in Srinagar?

The process of car loan application is easy with the help of DialaBank. The reasons why DialaBank should be considered to avail the best car loan in Srinagar are:

  • We’re the first-ever online financial helpline in India.
  • In a few hours of applying with us, the loan gets disbursed or accepted.
  • The entire method is trouble-free and easy.
  • Get expert advice from our Relationship Managers on car loans.
  • You have the option to pick up your documents by door-step

To apply with us, just visit our website main page Dialabank, and fill the form of a car loan with the essential details. You will soon be contacted by our customer relationship manager who will assist you further in choosing the right bank/NBFC for you according to your need.

You may also visit the nearest branch personally to avail of a car loan which may be a bit hectic for you.

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Car Loan for Major Car Manufacturers in Srinagar

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Srinagar

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 Srinagar

CIBIL score also known as credit score is the score that defines the credit-history of an applicant. The effectiveness with which a person has paid off his previous loans can be depicted through this score. Any kind of loan including the car loan requires a good CIBIL score of the applicant. The 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 availability easy and convenient.

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

Car Loan Srinagar Contact Number

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

You can even contact us online through our website by applying in the Loan section in which you are interested. Dialabank will provide you the best offers as per your eligibility status.

Pre Calculated EMI Table for Car Loan Srinagar

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 Srinagar

Srinagar is the biggest town and the summer capital of the Indian union territory of Jammu and Kashmir. It lies in the Kashmir Valley on the banks of the Jhelum River, a tributary of the Indus, and Dal and Anchar lakes. The town is known for its natural surroundings, gardens, waterfronts, and houseboats.

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