Car Loan Thalassery

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Car Loan Thalassery

Best Banks for Car Loan in Thalassery

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

Car Loan Thalassery Features

Are you searching for a car loan? If yes, then your wait is over as we at Dialabank brings you amazing offers for a car loan in Oddanchatram. We provide the lowest rate of interest for car loans Oddanchatram, which you won’t find anywhere else.

We offer Car loans for both working sectors from Self-employed to salaried people. Dialabank offers you the car loans on new as well as used cars.

To fulfill your dream of having your own car, a car loan is a financial help provided by banks and NBFC’s. Necessary financing for buying a car which can be on Ex-Showroom Price or On-Road Price of the car is provided by them. With easy repayment options, a car loan is a secured loan. The loan amount is offered on Interest charges which alter from bank to bank. In easy installments one can pay for the vehicle.

Car Loan Thalassery Interest Rates

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
To check Car Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates Apply for a Car Loan

Car Loan Thalassery Documents Required

Documents required for car loan are as followed:

For Salaried Individuals:

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

For Self Employed Individuals:

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

Car Loan Thalassery Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Applicants

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: a minimum of 2 years of employment experience and 1 year in current employment.
  4. Minimum Annual Income: Rs.100000 net annual income

For Self-Employed Applicants

  1. Minimum age: 21 years
  2. Maximum age at loan maturity: 65 years
  3. Minimum employment: At least 3 years in business
  4. Minimum Annual Income: Net profit Rs.100000 per annum for mid-sized and premium cars and Rs. 60000 per annum for standard cars

Car Loan for Major Car Manufacturers in Thalassery

TABLE WILL APPEAR Apply for a Car Loan

Processing Fees/ Prepayment Charges on Car Loan in Thalassery

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 Thalassery

A CIBIL score of 750 and above is considered to be very good and it attracts a lower interest rate for car loans in Oddanchatram. However, if you have a good income, a CIBIL score between 650 to 750 could be taken but a bit higher car loan interest rate will be offered in that case. Your application might be refused, if you have defaulted in your CIBIL score which is very low.

A minimum CIBIL score of 750 is preferred by most foundations to give loans. The foundations along with the overall score also examine for the detailed behavior on the previous loans taken. This includes details on amount you have borrowed and the type of loan taken. Any late payments for previous loans can become an obstacle to your availing a fresh loan.

For more information on the score, check your CIBIL score in your credit report.

Car Loan Thalassery Contact Number

Call us at 9878981166 to get on car loans in Oddanchatram and exclusive offers on car loans.

Apply for a Car Loan

Pre Calculated EMI Table for Car Loan Thalassery

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

Car Loan EMI Calculator Thalassery

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About Thalassery

Thalassery, formerly Tellicherry, is a municipality on the Malabar Coast in Kannur district, in the state of Kerala, India, bordered by the districts of Mahé, Kozhikode, Wayanad, Kasaragod and Kodagu. Thalassery municipality has a population just under 100,000.

car loan

FAQs about Car Loan Thalassery

✅ Can I get a loan to purchase a used car in Thalassery?

Yes, you have to use your credit history and previous arrangement with the prospective bank or any other lender in Thalassery to negotiate the interest rate on your car loan. Regularly paying your past loans/credit cards EMI with your prospective bank or any other lender will help you get a car loan with a lower interest rate.

✅ What is the typical tenure of a car loan in Thalassery?

A car loan can last anywhere between one to five years. The higher the EMI, the shorter your loan term, and the opposite is valid for longer car loan terms. Currently, only limited lenders are offering car loans on terms of up to seven years in Thalassery.

✅ Do I need a loan guarantor or co-borrower in Thalassery?

If you are unable to meet the lending institution’s eligibility standard, such as monthly salary, age, or credit score, a loan guarantor or co-borrower is required. You can even apply for a car loan of your own.

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