Dena Bank Car Loan

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Buy your dream Car

Rates as low as 7.35%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

Dena Bank Car Loan Key Features

Dena Bank Car Loan Interest Rate 7.35%* per annum
Min Loan Amount ₹ 100,000
Max Loan Amount
(Loan to Value)
Loan up to 80% of On Road Price
or 100% of Ex-showroom Price
Loan Tenure One year to 7 years
Lowest EMI / Lac ₹ 1,614
Minimum Net Monthly Income ₹ 16,000
Minimum ITR for Self Employed ₹ 300,000
Age Criteria Salaried: 21 years to 60 years
Self Employed: 21 years to 65 years
Types of Cars For All New Passenger Cars, Multi Utility Vehicles (MUVs) and Sport Utility Vehicle (SUVs).
Dena Bank Car Loan Processing Fee Up to 0.40%
Foreclosure Charges N/A
Dena Bank Car Loan Documentation ID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation

About Dena Bank Car Loan

The predecessor of Bank of Baroda, Dena Bank was found in 1938 by Choonilal Devkaran Nanjee and Pranlal Devkaran Nanjee and was nationalized in 1969. The Government of India now owns Dena Bank. Headquartered in Mumbai, Dena Bank has more than 1875 branches across the nation. CEO of Dena Bank: Shri Karnam Sekar.

Dena Bank has a long chain of financial products available to all the customers, and a Car loan is one of the most popular product among all.

Advantages of Dena Bank Car Loan

Dena Bank Car Loan

Dena Bank Car Loan Eligibility

Salaried Individual
  • Age – 21-60 years of age
  • Net Monthly Income – should be minimum ₹ 16000
  • Employment Duration – Minimum 2 year
  • Income Eligibility – Depends on Form 16 and Salary Slip
Self-Employed Individuals
  • Age – 21-65 years of age
  • Minimum ITR  – Rs. 3 Lakh
  • Employment Duration – Minimum 3 years
  • Income Eligibility – Depends on the latest Income Tax Returns
Self-Employed Non-Individuals (Company/Partnership)
  • Minimum ITR  – Rs. 3 Lakh
  • Employment Duration – Minimum 3 years
  • The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
  • Applicant should have a vintage of at least six months
  • Average Quarterly Balance – Minimum Rs.1 lakh for the last two quarters
  • Maximum Loan Amount – 3 X Average Quarterly Balance of Last two quarters

Dena Bank Car Loan Interest Rate 2020

Charges New Car Loan Used Car Loan
Dena Bank Car Loan Interest Rate 7.35% p.a. to 11.30% p.a. 14.80% p.a. to 16.80% p.a.
Dena Bank Car Loan Processing fee 0.40% 0.40%
Issuance of Duplicate Repayment Schedule Charges Starting from Rs.450 Starting from Rs.450
Foreclosure Charges N/A N/A
Penal Interest N/A N/A
Part Payment charges 5% of the paid amount 5% of the paid amount
Cheque/Instrument Swap Charge Starting from Rs.450 Starting from Rs.450
Documentation Charge Starting from Rs.450 Starting from Rs.450
Issuance of Duplicate No Dues Certificate Charges Starting from Rs.450 Starting from Rs.450
Registration Certification Collection Charge Rs.150 per instance Rs.150 per instance
Cheque Bounce/Instrument Return Charges Starting from Rs.450 Starting from Rs.450
Issuance of Duplicate Statement Charges Starting from Rs.450 Starting from Rs.450
Loan Cancellation/Re-booking Charges Starting from Rs.2000 Starting from Rs.2000
Issuance of Credit Report >Rs.50 >Rs.50

Dena Bank Car Loan Documents Required

Salaried Individual

Category Documents Required
Identity Proof

 

(Any 1)

Aadhaar Card
Passport
PAN
Voter ID
Driving Licence
Address Proof

 

(Any 1)

Driving Licence
Aadhaar Card
Passport
Date of Birth Proof

 

(Any 1)

Birth Certificate
Passport
10th Marksheet
Driving Licence
PAN
Signature Proof

 

(Any 1)

Passport
Bankers Verification
PAN
Income Proof Latest Form 16 and Salary Slips
Bank Statement Bank statement of the last six months
Employment Continuity Proof ITR of Form 16
Salary Slip with Joining Date
Appointment Letter
Work Experience Certificate
Letter of Relieving

Self-Employed Individuals

Category Documents Required
Identity Proof (Any 1) Driving Licence
Aadhaar Card
Voter ID
Address Proof (Any 1) Driving Licence
Aadhaar Card
PAN
Voter ID
Date of Birth Proof (Any 1) Birth Certificate
Passport
Driving Licence
PAN
Signature Proof (Any 1) Passport
Bankers Verification
Income Proof Latest Form 16 and Salary Slips
Bank Statement Bank statement of the last six months
Employment Continuity Proof Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Current Account Statement
Business Proof SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Current Account Statement
Utility Bills
Shop & Establishment Act Certificate
Registered Lease Document with other utility bills

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

Category Documents Required
Identity Proof (Any 1) Aadhaar Card
Passport
PAN
Driving Licence
Voter ID
Address Proof (Any 1) Driving Licence
Aadhaar Card
Voter ID
Income Proof Audited Balance Sheet
P&L Account and ITR for the previous two years
Bank Statement Bank statement of the last six months
Business Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
Sales Tax or VAT Certificate
Additional documents Authority Letter/PAN cards

2. Private Limited/Limited Companies

Category Documents Required
Identity Proof Copy of Latest AOA
Copy of Latest MOA
Copy of Incorporation
Address Proof (Any 1)
Current Account Statement
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Registered Lease Document with other utility bills
Income Proof Audited Balance Sheet
P&L Account and ITR for the previous two years
Bank Statement Bank statement of the last six months
Business Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Additional documents
List of Directors and Shareholding Partners
PAN Card
Board Resolution
Certificate of Commencement of Business for Ltd. Co.

Dena Bank Car Loan EMI Calculator

Know your EMIs even before applying for the loan by the following calculator:

Car Loan EMI Calculator

Dena Bank Car Loan Types

Car Loan by Dena Bank in itself has three different types based upon the needs of the customers:

  1. New Car Loan –  For those who are willing to buy a new car from the dealer can avail this loan for a tenure of up to 7 years and a minimum loan amount of Rs. 1 lakh.
  2. Used Car Loan – Applicants looking for buying any second-hand car also has this option to avail loan with a tenure of 2-5 years.
  3. Loan Against Car – Dena Bank also provides quick fund allocation by this loan. You can keep your preowned car as a gage and get a loan against it for up to 50% of its value.

Dena Bank Car Loan Pre Calculated EMI

How to Apply for Dena Bank Car Loan?

  1. Provide your details on Dialabank’s authentic address.
  2. Enjoy free guidance from our highly knowledgeable Relationship Manager throughout the process.
  3. Compare and choose among various options available.
  4. Get Personalized services with Dialabank ensuring no hidden charges on the process.

Dena Bank Car Loan for Top Selling Cars

Other Available Products from Dena Bank

Dena Bank Gold Loan Dena Bank LAP Dena Bank Business Loan
Dena Bank Personal Loan Dena Bank Home Loan Dena Bank Education Loan

FAQs for Dena Bank Car Loan

✅ What is Dena Bank Car Loan?

Dena Bank Car Loan is a secured loan which provides funds to borrower for buying a new/used car.

✅ How can I get Car Loan from Dena Bank?

Car Loan from Dena Bank consists of a routine procedure, either apply from the bank’s branch or apply online through Dialabank and avail exclusive offers.

✅ How does Dena Bank Car Loan work?

Dena Bank Car Loan has effortless working consisting of a bank, and the applicant wants to buy a car with the help of the bank’s loan.

✅ What is the Car Loan Interest Rate in Dena Bank?

A regular Rate of Interest of 7.35% is imposed on Car Loans by Dena Bank.

✅ How to Check Car Loan status in Dena Bank?

Dena Bank gives an option to check Car Loan status online or by reaching the nearest branch.

✅ How to Calculate Car Loan Interest in Dena Bank?

Calculate Car Loan Interest in Dena Bank by using Dialabank’s Calculator. It helps you to find out EMI as well as Interest Rate.

✅ What is the maximum loan amount I can avail on Car Loan from Dena Bank?

Dena Bank gives Car Loan for up to 100% ex-showroom price of the car.

✅ What is the loan tenure of Dena Bank Car Loan?

You can get a long tenure up to 7 years of Dena Bank car Loan. Whereas, five years for used car loans.

✅ Can I get 100% Car Loan from Dena Bank?

Car Loan of 100% ex-showroom price can be availed with Dena Bank.

✅ How much is Processing Fee applicable on Dena Bank Car Loan?

Processing Fee of 0.40% is applicable on Dena Bank Car Loan.

✅ What are the EMI options available on Dena Bank Car Loan?

EMI options available on Dena Bank car Loan are step-up EMI and Balloon EMI.

✅ What are the charges for Prepayment in Dena Bank Car Loan?

Dena Bank never charges any prepayment fee for the foreclosure of your Car Loan.

✅ Can I get a top-up loan on my existing Dena Bank Car loan?

Top-up on existing Dena Bank Car Loan can be availed in individual cases. Reach out the loan branch to know more.

✅ Do I need to provide a guarantor to avail a Car Loan from Dena Bank?

Dena Bank never asks for any type of guarantor for sanctioning Car Loan.

✅ How to get Dena Bank Car Loan Statement?

Get your Dena Bank Car Loan statement from Loan status corner of the Bank’s webpage or contact the banker of your loan branch.

✅ How to Pay Dena Bank Car Loan Interest Online?

Use Dena Bank payment gateway to pay your Car Loan interest Online.

✅ What if I can’t pay the interest on Dena Bank Car Loan for 3 months?

Dena Bank provides the remainder facility if you don’t pay EMI for three months and further, the bank can seize your vehicle and impose no payment fee against you.

✅ How can I apply for EMI Moratorium on Dena Bank Car Loan?

Apply easily using E-mail for EMI Moratorium on Dena Bank Car Loan and follow the further instruction given by the bank.

✅ What is the number for Dena Bank Car Loan agent?

9878981166 is the number of most worthy Dena Bank Car Loan agent, i.e. Dialabank.

✅ Can I close Dena Bank Car Loan online?

You can initiate closing of your Dena Bank Car Loan online but have to meet the bank authority to finish the process.

✅ What is Dena Bank Car Loan Customer Care Number?

Ring us at 9878981166, and we are all ears to hear you out.

✅ How can I get NOC from Dena Bank for Car Loan?

Pay all your outstanding amounts to get NOC from Dena Bank for Car Loan. Branch provides the hard copy of your NOC while closing your loan account.

 

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