Car Loan West Bengal

I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Buy your dream Car

Rates as low as 7.05%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

Car Loan West Bengal

Best Banks for Car Loan in West Bengal

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

Car Loan West Bengal 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

The highways of India are challenging to navigate, and you’ll need a dependable companion for your commute, which can be a car. A car is generally one of the most expensive purchases for an Indian family, and if a person does not have enough money to buy a new automobile, he should apply for a car loan. A car loan is a secured loan offered by most Indian banks and non-banking financial companies (NBFCs) at reasonable rates. The car you want to buy will be used as collateral for your loan.

Car Loan West Bengal


car loan

Car Loan West Bengal 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


car loan

Car Loan West Bengal EMI Calculator

Car Loan West Bengal 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


car loan

Car Loan West Bengal Fees and Charges: Leading Banks – Jul 04 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


car loan

Car Loan West Bengal 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.


car loan

How to Get the Best Car Loan Interest Rates in West Bengal

  • Auto loan aspirants mistakenly believe that a loan with a long period is better than a short one since they can repay the loan in small instalments over a longer period of time, but they are unaware that lenders frequently charge a very high rate of interest on loans with a longer-term.
  • A wise borrower would always examine the numerous plans given by different lenders in order to select the one that best meets his demands.
  • If you have a strong credit score of 750 or higher, lenders will be eager to provide you with a car loan with low interest rates.
  • The debt-to-income ratio measures how much of an applicant’s income goes toward the repayment of an older loan, and if it is low, your chances of getting the loan approved increase.

How to Apply for a Car Loan in West Bengal?

Availing of a car loan West Bengal

  • Dialabank is our website.
  • To get a car loan, go to the website’s car lending section.
  • Fill in the relevant fields with information about the vehicle and your annual income.
  • Our relationship manager will contact you as soon as possible.
  • You can also call us at 9878981166 if you have any questions about the loan.


car loan

Which Bank in West Bengal Offers the Best Car Loans?

In the city, large lenders such as HDFC  offer a variety of auto loan options. The ideal provider for you is one that can give you the loan amount you need at a fair interest rate and can get the funds to you as soon as possible. Before applying for a vehicle loan that fulfils all of his criteria, a wise applicant should compare vehicle loans from a variety of lenders.

Car Loan for Major Car Manufacturers in West Bengal

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan West Bengal

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


car loan

CIBIL Score Required for Car Loan in West Bengal

The CIBIL score determines your ability to repay your debts. A high credit score indicates that you have a positive credit history, which assists the vehicle loan application procedure go smoothly. A credit score of 750 or more is considered satisfactory by most banks and NBFCs. The minimal CIBIL score required varies from company to company. If your CIBIL score falls below the acceptable level, you will be obliged to pay a large debt on loan.


car loan

Car Loan West Bengal Contact Number

In case of any queries regarding the auto loan, feel free to contact us on 9878981166 for any assistance.


car loan

Pre Calculated EMI Table for Car Loan West Bengal

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 West Bengal

West Bengal is in between the Himalayas and the Bay of Bengal. It is the largest city located in Kolkata, the capital of the West Bengal state, India. It is very beneficial for an individual to take a Loan from Dialabank; all you have to do is to visit the Dialabank website.

Car Loan Banks in West Bengal

Bank Name Bank Address IFSC Code
SYNDICATE BANK RAIKATPARA JALPAIGURI, WEST BENGAL, 735101 SYNB0009759
YES BANK GROUND FLOOR, 45 JHOWTOLA ROAD, BALLYGUNGE, KOLKATA, WEST BENGAL, 700019 YESB0000795

FAQ’s About West Bengal Car Loan

Will the lenders also finance modifications on my car?

No, the banks only finance the basic trim level of the vehicle you wish to buy.

What options do I have for repaying my auto loan?

Standing Instruction, Electronic Clearing Service, and Post-Dated Cheques are three options for repaying your car loans.

Can the interest rate on your loan be negotiated?

If your credit history is good and your credit score is really high, you can negotiate the interest rate on your loan with most banks.