Car Loan Udipi

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Car Loan Udipi

Best Banks for Car Loan in Udipi

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 Udipi Features

car loan udipi

If you are a resident of Udipi, you can easily apply for a car loan to various banks and NBFCs at flexible tenures, for both brand new ones and second-hand cars, and for both ex-showroom and on-road prices. Loans are offered at attractive interest rates, making it convenient for you to fulfill your dream of having your own car. Loans vary according to the model and type of car you wish to purchase, so make sure you choose the right bank as well as the right car dealer. You can also get access to features such as:

  • Low-interest rates, which may vary from bank to bank
  • Car loans in Udipi are offered by almost all major banks and NBFCs in the city.
  • The documentation process is quick, efficient and hassle-free
  • Car loans are easily available through DialaBank

Car Loan Udipi 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 Udipi Documents Required

Documents required to avail of a car loan :

For salaried:

  • Identity Proof: Documents such as your Passport copy, PAN Card, Voters ID card, Driving License will be required.
  • Income Proof: For Salaried the latest 3-month salary slip with form 16
  • Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  • Bank Statement: from the last 6 months will be required.

For self-employed:

  • Identity Proof: Documents such as your Passport copy, PAN Card, Voters ID card, Driving License will be required.
  • Income Proof: the latest ITR will be required.
  • Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
  • Bank Statement: from the last 6 months will be required.

Car Loan Udipi Eligibility Criteria

The car loan eligibility requirements are as followed in Udipi:

For salaried:

  • The Minimum age requirement is 21 years
  • The Maximum age at loan maturity should be 65 years
  • The Minimum employment term for a Salaried employee is 1 year in current employment and a minimum of 2 years of total employment
  • The Minimum Annual Income for a Salaried employee is Rs 100000 net annual income

For self-employed:

  • The Minimum age requirement is 21 years
  • The Maximum age at loan maturity should be 65 years
  • The Minimum employment term for Self Employed is at least 3 years in business
  • The net profit is Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars

Car Loan for Major Car Manufacturers in Udipi

TABLE WILL APPEAR

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Processing Fees & Prepayment Charges on Car Loan Udipi

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 Udipi

The Cibil score is referred to as your ability to pay off your credits efficiently.

While 650 is considered as a ‘fair’ score, it comes close to a poor rating. It is advisable to have a score of 750 and above to get your loan sanctioned easily. This score depends on your credit history and is negatively impacted if you fail to pay your EMIs. This score may again vary from bank to bank

Car Loan Udipi Contact Number

Dial-up at 9878981166 to contact us for more information to get the best car loan advice!

Pre Calculated EMI Table for Car Loan Udipi

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

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