Dhanalakshmi 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

Dhanalakshmi Bank Car Loan Key Features

Dhanalakshmi Bank Car Loan Interest Rate 7.35% per annum
Min Loan Amount ₹ 100,000
Max Loan Amount
(Loan to Value)
Loan up to 85% of On Road Price
or 95% of Ex-showroom Price
Loan Tenure 1 year to 7 years
Lowest EMI / Lac ₹ 1,060
Minimum Net Monthly Income ₹ 15,000
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).
Processing Fee Up to 0.40% of the loan amount
Foreclosure Charges 2%+ service tax on the outstanding loan amount
Basic Documentation ID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation

About Dhanalakshmi Bank Car Loan

Dhanalakshmi Bank is an old private sector bank headquartered in Thrissur City, Kerala, India.  The bank was incorporated on 14th November 1927 by a group of entrepreneurs at Thrissur city, the “Cultural Capital of Kerala”. It has 280 branches, and 398 ATMs all over the country.

Dhanalakshmi Bank proffers Car Loans at feasible interest rates to the candidates for buying their dream car, the car can be new or second hand. This loan is easily available who have a good credit or CIBIL score.

Advantages of Dhanalakshmi Bank Car Loan

Dhanalakshmi Bank Car Loan

Dhanalakshmi Bank Car Loan Eligibility

Salaried Individual
  • Age – 21-60 years of age
  • Net Monthly Income – should be minimum ₹ 15000
  • Employment Duration – Minimum 1 year
  • Income Eligibility – Depends on Form 16 and Salary Slip
Self-Employed Individuals
  • Age – 21-65 years of age
  • Minimum ITR  – Rs. 4 lakh, Rs. 18 lakhs (for selected car models)
  • Employment Duration – Minimum 3 years
  • Income Eligibility – Depends on the latest Income Tax Returns
Self-Employed Non-Individuals (Company/Partnership)
  • Minimum ITR  – Rs. 4 lakh, Rs. 18 lakhs (for selected car models)
  • 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 6 months
  • Average Quarterly Balance – Minimum Rs.1 lakh for last 2 quarters
  • Maximum Loan Amount – 3 X Average Quarterly Balance of Last 2 quarters

Dhanalakshmi Bank Car Loan Interest Rate, Fees and Charges

Charges New Car Loan Used Car Loan
Interest Rate 7.35% p.a. 13.18%
Processing fee Up to 0.40% of the loan amount Up to 0.40% of the loan amount
Issuance of Duplicate Repayment Schedule Charges Rs.500 per instance Rs.500 per instance
Foreclosure Charges 2%+ service tax on the outstanding loan amount 2%+ service tax on the outstanding loan amount
Penal Interest 2% per month 2% per month
Part Payment charges 3% of the paid amount 3% of the paid amount
Cheque/Instrument Swap Charge Rs.500 per instance Rs.500 per instance
Documentation Charge Rs.500 per instance Rs.500 per instance
Issuance of Duplicate No Dues Certificate Charges Rs.500 per instance Rs.500 per instance
Registration Certification Collection Charge Rs.200 per instance Rs.200 per instance
Cheque Bounce/Instrument Return Charges Rs.500 per instance + service tax Rs.500 per instance + service tax
Issuance of Duplicate Statement Charges Rs.500 per instance Rs.500 per instance
Loan Cancellation/Re-booking Charges Rs.2,500 per instance Rs.2,500 per instance
Issuance of Credit Report Rs.50 per instance Rs.50 per instance

Dhanalakshmi Bank Car Loan Documents Required

Salaried Individual

Category Documents Required
Identity Proof

 

(Any 1)

Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof

 

(Any 1)

Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Date of Birth Proof

 

(Any 1)

Birth Certificate
Passport
Driving Licence
PAN
Signature Proof

 

(Any 1)

Passport
Bankers Verification
PAN
Income Proof Latest Form 16 and Salary Slips
Bank Statement Bank statement of last 3 months
Employment Continuity Proof Work Experience Certificate
ITR of Form 16
Salary Slip with Joining Date
Appointment Letter
Letter of Relieving

Self-Employed Individuals

Category Documents Required
Identity Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Date of Birth Proof (Any 1) Birth Certificate
Passport
Driving Licence
PAN
Signature Proof (Any 1) Passport
Bankers Verification
PAN
Income Proof Latest Form 16 and Salary Slips
Bank Statement Bank statement of last 3 months
Employment Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Business Proof Current Account Statement
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Registered Lease Document with other utility bills

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

Category Documents Required
Identity Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Income Proof Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Bank statement of last 3 months
Business Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Additional documents Authority Letter/PAN cards

2. Private Limited/Limited Companies

Category Documents Required
Identity Proof Copy of Latest MOA
Copy of Incorporation
Copy of Latest AOA
Address Proof (Any 1)
Current Account Statement
Telephone Bill
Electricity Bill
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 2 years
Bank Statement Bank statement of last 3 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.

Dhanalakshmi Bank Car Loan EMI Calculator

The candidate has the option to examine the EMI’s before getting a Car Loan. You can easily check out through the given link below:

Car Loan EMI Calculator

Dhanalakshmi Bank Car Loan Types

Dhanalakshmi Bank provides different types of car loans to its consumers. You have the choice of choosing the offer which suits your need. Dhanalakshmi Bank provides the following types of Car Loans:

  1. New Car Loan –  Those who desire to buy a new car, this is the proposal for you. You can take a Car Loan from Dhanalakshmi Bank for a minimum of Rs. 1 lakh and a minimum tenure of 7 years.
  2. Used Car Loan – If you have a desire to buy a used car then you can opt this scheme which offers a minimum loan of Rs. 1 lakh and a minimum tenure of 5 years.
  3. Loan Against Car – You can pick this offer if you are in require of urgent funds where you can keep your cars as security with the bank where you can avail Rs. 10 lakh or up to 50% of your car’s price.

Dhanalakshmi Bank Car Loan Pre Calculated EMI

How to Apply for Dhanalakshmi Bank Car Loan?

  1. Visit Dialabank and fill a simple form.
  2. Our Relationship Manager will call you and provide you with guidance throughout the processing of a car loan.
  3. You can compare various offers from banks and choose the one according to your suitability.
  4. You can easily apply for a Car Loan through Dialabank and enjoy offers.

Dhanalakshmi Bank Car Loan for Top Selling Cars

Other Available Products from Dhanalakshmi Bank

Dhanalakshmi Bank Personal Loan Dhanalakshmi Bank Gold Loan Dhanalakshmi Bank Home Loan
Dhanalakshmi Bank Credit Card Dhanalakshmi Bank Two Wheeler Loan Dhanalakshmi Bank Education Loan

FAQs for Dhanalakshmi Bank Car Loan

What is Dhanalakshmi Bank Car loan?

Car loan refers to the various financial products which allow someone to acquire a car, including car finances and leases.

✅ How can I get a car loan from Dhanalakshmi Bank?

Salaried applicants and self-employed people with a minimum annual income of Rs.2 lakh can apply for a car loan at Dhanalakshmi Bank. You can also apply for a maximum loan amount of up to 85% of the on-road price or 95% of the ex-showroom price of the car.

✅ How to Check Car Loan status in Dhanalakshmi Bank?

You can check your car loan status in Lakshmi Vilas Bank by visiting the nearest branch or by checking the bank’s website

✅What is the maximum loan amount that I can avail of on a car loan from Dhanalakshmi Bank?

N/A 

✅ What is the loan tenure of Dhanalakshmi Bank Car loan?

Dhanalakshmi Bank offers a car loan for a period of 1 year to 7 years.

✅ Can you prepay your Dhanalakshmi Bank Car Loan?

You can prepay/foreclose your car loan from Dhanalakshmi bank at a charge of 2% plus service tax on the outstanding principal amount.

✅ Does Dhanalakshmi Bank Car Loan charge any Processing Fees?

The processing fee charged by Dhanalakshmi Bank for a car loan is up to 0.40% of the loan amount.

✅ Can I get a Dhanalakshmi Bank Car Loan if I have a low Credit score? 

Dhanalakshmi bank needs you to have a decent credit score of 700 or above for a car loan.

✅ What can you keep as Security with Dhanalakshmi Bank to get a Car Loan?

There is no need for any other security other than the car itself to get a car loan from Dhanalakshmi Bank.

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