Best Banks for Car Loan in Zinkibhadra
| Feature | HDFC Bank | Private 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 Zinkibhadra Features
A car loan is a financial assistance provided by various banks and NBFCs to purchase an automobile. Banks offer the required finance to purchase a vehicle, which might be at the Ex-Showroom or On-Road price of the vehicle. Moreover, they provided the lowest interest rates and the shortest paperwork procedure.
Why waste money on a cab in this fast-paced world when you may have your own car? So here’s a vehicle loan to help you get rid of all your automobile ties. A loan is a financing option for those who want to buy an automobile. A car loan allows the customer to pay for the automobile rather than spend it all at once. The documentation process necessitates a charge reduction procedure.
⍟ 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
Car Loan Zinkibhadra 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 Zinkibhadra EMI Calculator
Car Loan Zinkibhadra 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 Zinkibhadra Fees and Charges: Leading Banks – Apr 19 2024
| 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 |
| Private 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 Zinkibhadra 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. |
How to Get the Best Car Loan Interest Rates in Zinkibhadra
- Choose a shorter repayment for a Car Loan – People believe that lengthier repayment terms are better as EMIs for such a car loan is low. However, they don’t seem aware that lenders in Narsapur view lengthier payback terms as an indication of a borrower’s low repayment capabilities, so they charge higher interest in Zinkibhadra.
- Research and compare offers by different lenders – You should explore and compare the benefits offered by different lenders in Zinkibhadra. This can help you determine the lenders in Narsapur that provide the best interest rates and which lender in Zinkibhadra to choose for a car loan.
- Maintain a modest debt-to-income ratio for a Car Loan – The debt-to-income ratio in Zinkibhadra measures how much of your income goes toward other loan repayments in Zinkibhadra. Lenders in Zinkibhadra take this into account when setting interest rates. So if your debt-to-income ratio is lower, you can get a car loan in Zinkibhadra easily.
- Car Loan in Narsapur Maintains a good credit score – Lenders in Zinkibhadra will be pleased to offer you a car loan with cheaper interest rates if you have a good credit score. Lenders in Zinkibhadra consider a credit score of above 750 to be reliable. Many lenders in Zinkibhadra may give auto loans to people with bad credit, but they demand a higher interest rate for a Car Loan Zinkibhadra.
How to Apply for a Car Loan in Zinkibhadra?
A car loan is an easy process to obtain in Zinkibhadra via Dialabank. To make use of the best offers, follow the following steps:
- First, check out our Dialabank website.
- Click the option for car loans from the menu
- Complete your automotive type and income details
- Wait as soon as you receive your given number from our relationship manager.
- If you have any questions concerning the loan, you can also contact our relationship managers on 9878981166.
Which Bank in Zinkibhadra Offers the Best Car Loans?
Many major banks and NBFCs in Zinkibhadra offer vehicle loans, including HDFC, Private and SBI. The finest lender can give you the money you need at an interest rate and distribute the money as quickly as possible. Therefore, it is always good to compare loans from many lenders before applying for one that meets all needs, such as interest rates.
Car Loan for Major Car Manufacturers in Zinkibhadra
TABLE WILL APPEAR
Processing Fees / Prepayment Charges on Car Loan Zinkibhadra
| 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 Zinkibhadra
While getting a car credit, CIBIL Score plays an important role. The higher your CIBIL scoring, the more credit you receive, at least for a period of time. Generally speaking, a CIBIL score shows the applicant’s behaviour towards his credits. If the score is poor, the customer could not be good with his credits or debts in the past and present. Therefore, it can make the customer have a big problem. More than 700 CIBIL scores are usually a good credit value.
Car Loan Zinkibhadra Contact Number
If you have questions about the Zinkibhadra car loan, please contact 98789811166 for any help.
Pre Calculated EMI Table for Car Loan Zinkibhadra
| 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 Zinkibhadra
Zinkibhadra is a Village in Srikakulam District of Andhra Pradesh State, India. If you want to take a Car Loan from Zinkibhadra, visit our website and get a loan at a low-interest rate.
FAQ’s About Zinkibhadra Car Loan
✅ What is the best time in Zinkibhadra to buy a car?
October, November, and December are the best months in Zinkibhadra to buy a car. Car dealerships create sales quotas, commonly divided into yearly, quarterly, and monthly sales targets. Late in the year, the three objectives begin to align.
✅ Should you put a down payment on a Car Loan in Zinkibhadra?
Almost probably, you’ll get a lower interest rate. A larger down payment accelerates the process of accumulating equity and protects both you and the lender. There are various advantages to making a down payment on a vehicle. The larger the down payment, the lower your monthly payment would be—and the lender will be protected against depreciation and loss.
✅ Do you think you’ll be able to pay off a car loan?
You may be able to return a financed vehicle and cancel the agreement within a particular time window, usually three days after purchase, depending on the auto dealer. If the car has excessive miles or damage, the return policy is null and void, and the dealership will not accept the vehicle. You should be aware that your car loan will need you to pay interest.
