Car Loan Varkala

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Car Loan Varkala

Best Banks for Car Loan in Varkala

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 Varkala Features

car loan varkala

As the development of our country speeds up, so does the development of roads. This increases the desire to have one’s own means of travel, but paying out of one’s own pocket isn’t always a viable option. This is where car loans help you. Dialabank assists you to acquire a car loan easily and on your own terms, for both brand-new and second-hand cars, and for both ex-showroom and on-road prices. The features of car loans in Varkala are as follows:

  • Car loans are available at low-interest rates
  • Almost all major banks and NBFCs offer car loans in Varkala
  • The documentation process is quick and hassle-free
  • Car loan is easily available through DialaBank

Car Loan Varkala 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 Varkala Documents Required

Documents required for car loan are as followed:

For salaried:

  • First and foremost, an identity Proof such as your passport copy, PAN card, voters ID card, driving license.
  • Secondly, income proof which, for Salaried employees includes the latest 3-month salary slip with form 16
  • It also required an address proof, any one thing among your ration card/driving license/voters card/passport copy/telephone bill/electricity bill/life insurance policy, or your PAN card.
  • Lastly, your bank statements from the last 6 months will be required

For self-employed:

  • First and foremost, an identity Proof such as your passport copy, PAN card, voters ID card, driving license.
  • Secondly, income proof for Self-Employed, the latest ITR proof.
  • It also required an address proof, any one thing among your ration card/driving license/voters card/passport copy/telephone bill/electricity bill/life insurance policy, or your PAN card.
  • Bank statements from the last 6 months will be required

Car Loan Varkala Eligibility Criteria

The car loan eligibility requirements are as followed:

For salaried:

  • The minimum age should be 21 years
  • While the maximum age at loan maturity should be 60 years
  • The minimum employment period for a salaried individual should be 1 year in current employment and a minimum of 2 years of total employment
  • Lastly, the minimum annual income for a salaried employee should be Rs 100000 net annual income

For self-employed:

  • The minimum age should be 30 years
  • While the maximum age at loan maturity should be 65 years
  • The minimum employment period for the self-employed should be at least 3 years in business.
  • Lastly, the net profit should be 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 Varkala

TABLE WILL APPEAR

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Processing Fees & Prepayment Charges on Car Loan Varkala

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 Varkala

The CIBIL score is referred to as your ability to pay off your credits. A higher Credit score means good credit history and makes your car loan application process smooth and facile, while a lower score can charge you higher interest rates. Mostly, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Varkala. This score may again vary from bank to bank.

Car Loan Varkala Contact Number

In case of queries regarding the car loan in Varkala, you may contact the number 9878981166 for the best guidance!

Pre Calculated EMI Table for Car Loan Varkala

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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