Dhanlaxmi Bank Car Loan

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Dhanlaxmi Bank Car Loan Key Features – Apply Now

Dhanlaxmi Bank Car Loan Interest Rate Starts @ 7.35%
Min Loan Amount ₹ 50,000
Max Loan Amount
(Loan to Value)
Loan up to 80%-100% of On Road Price
Loan Tenure 1 year to 7 years
Lowest EMI / Lac ₹ 1,517
Minimum Net Monthly Income ₹ 20,000
Minimum ITR for Self Employed ₹ 300,000
Age Criteria Salaried: 21 years to 60 years
Self Employed: 21 years to 60 years
Types of Cars For All New Passenger Cars, Multi Utility Vehicles (MUVs) and Sport Utility Vehicle (SUVs).
Processing Fee Up to Rs.3,000
Foreclosure Charges Up to 5% of the outstanding principal
Basic Documentation ID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation

About Dhanlaxmi Bank Car Loans

An Indian Bank and Financial Institution with more than 1 lakh 5 thousand employees across the nation, Dhanlaxmi Bank is an old private sector bank headquartered in the Thrissur City of Kerala. It was incorporated in 1927 with a capital of ₹11,000 and 7 employees.

It became a Scheduled Commercial Bank in 1977. At present it has 280 branches and 398 ATMs spread over the states of India. 

Dhanlaxmi Bank deals with a long chain of products such as treasury, auto loans, two-wheeler loan, credit cards etc.

Dhanlaxmi Bank provides the customers with Car Loans also for helping them by their dream car at very fantastic interest rates. Individuals with slightly low CIBIL Score can also avail this loan quickly.

Advantages of Dhanlaxmi Bank Car Loans

Dhanlaxmi Bank Car Loan Interest Rate

 

Dhanlaxmi Bank Car Loans Eligibility

Salaried Individual Age – 21 years to 60 years  Net Monthly Income – Minimum ₹ 20,000Employment Duration – 1-year minimum Income Eligibility – Based on Form 16 and salary slip
Self-Employed Individuals Age – 21 years to 60 years 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 vintageAverage 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 

Dhanlaxmi Bank Car Loans Interest Rate, Fees and Charges

Charges New Car Loan Used Car Loan
Dhanlaxmi Bank Car Loan Interest Rate 7.35% p.a. to 11.30% p.a. 14.80% p.a. to 16.80% p.a.
Processing fee 0.40% 0.40%
Issuance of Duplicate Repayment Schedule Charges Around Rs.500 Around Rs.500
Foreclosure Charges 6% 6%
Penal Interest 2% PM 2% PM
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

Dhanlaxmi Bank Car Loans 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) Bankers Verification
PAN
Income Proof Salary Slip
Bank Statement Bank statement of last 6 months
Employment Continuity Proof Latest ITRs
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.

Dhanlaxmi Bank Car Loans EMI Calculator

The applicant can calculate its EMI on the Car Loan before even availing it by following the address below:

Car Loan EMI Calculator

Dhanlaxmi Bank Car Loans Types

There’s a long list of Car Loan Products provided by Dhanlaxmi Bank. Choose among them according to your desires. Lit of Car Loan provided by Dhanlaxmi Bank:
Axis Bank offers different types of car loans to its customers. You have the option of choosing the offer which suits your need the best. It offers the following types of Car Loans:

  1. New Car Loan –  Applicants looking to buy a new car can go for this. You can get a car loan for a minimum amount of Rs. 1 lakh and tenure up to 7 years.
  2. Used Car Loan – Individual wanting to buy used cars can avail Used Car loan with a minimum amount of Rs. 1 Lakh and tenure of 5 years.
  3. Loan Against Car – Applicants with the urgency of funds can go for this loan by providing their car as a gage and getting loan amount against it. 

How to Apply for Dhanlaxmi Bank Car Loans?

  1. Visit Dialabank.
  2. Go to the Dhanlaxmi Bank Car Loan page.
  3. Fill the details in the car loan application form.
  4. Wait for our team to contact you.
  5. You will be assisted you throughout the loan process.

Other Available Products from Dhanlaxmi Bank

Dhanlaxmi Bank Two Wheeler Loan Dhanlaxmi Bank Personal Loan Dhanlaxmi Bank Car Loan

FAQs for Dhanlaxmi Bank Car Loans

  What is Dhanlaxmi Bank Car Loan?

Dhanlaxmi Bank Car Loans is financial support provided by the bank to its customers to buy their dream car.

 How can I get Car Loan from Dhanlaxmi Bank?

Apply with Dialabank to get Dhanlaxmi Bank Car Loans in the most reliable manner.

 How does Dhanlaxmi Bank Car Loans work?

Dhanlaxmi Bank provides car loans by securing the new car bought as collateral against the loan. Apply for a Car Loan with the necessary documents and park a new car in your parking while repaying the loan amount in easy EMIs. However, A minimal Rate of Interest is charged against the loan.

 What is the Car Loan Interest Rate in Dhanlaxmi Bank?

Dhanlaxmi Bank charges Car Loan Interest Rates starting from 7.35% per annum. The Interest Rate is the cost of borrowing money, expressed as a percentage of the loan amount.

 How to Check Car Loan status in Dhanlaxmi Bank?

Go to Dhanlaxmi Bank’s official web handle and provide the important details regarding your loan and get the status of the same in seconds. You can contact the nearest branch also for knowing the status of your Car Loan.

 How to Calculate Car Loan Interest in Dhanlaxmi Bank?

Use Dialabank EMI Calculator to calculate Interest Rate as well as EMI. Follow the link below to direct yourself to the calculator:


Dialabank Calculator

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

You can avail Loan up to 100% of the vehicle’s Ex-Showroom price.

 What is the loan tenure of Dhanlaxmi Bank Car Loan?

Loan tenure of Dhanlaxmi Bank Car Loan is 1 Year to 7 Years in case of New Car and 1 Year to 5 Years in case of Used Cars.

 Can I get 100% Car Loan from Dhanlaxmi Bank?

Yes, you can get 100% Car Loan from Dhanlaxmi Bank on the Ex-Showroom price of the vehicle.

 How much Processing Fee is applicable on Dhanlaxmi Bank Car Loan?

Dhanlaxmi Bank Car Loan charges 0.40% of Principal Amount as the Processing Fee which can go up to a  maximum amount of Rs.10,000.

 What are the EMI options available on Dhanlaxmi Bank car loan?

Dhanlaxmi Bank Provides two EMI options Step-up EMI and Balloon EMI.

 What are the charges for Prepayment in Dhanlaxmi Bank Car Loan?

Dhanlaxmi Bank imposes 6% of Foreclosure charges for the prepayment of the loan/paying off the loan before the tenure ends.

 Can I get a top-up loan on my existing Dhanlaxmi Bank car loan?

Dhanlaxmi Bank provides Zero paperwork Top-up instantly against existing Car Loan on a fixed reducing Rate of Interests.

 Do I need to provide a guarantor to avail a car loan from Dhanlaxmi Bank?

A big NO, Dhanlaxmi Bank doesn’t ask for any guarantor to avail Car Loan.

 How to get Dhanlaxmi Bank Car Loans Statement?

Get your Dhanlaxmi Bank Car Loan statement by following the mentioned steps:
1. Go on to Dhanlaxmi Bank official website.
2. Login to “Loan Status” with your login credentials and get the statement.
OR
You can directly visit the nearest branch for your Loan Statement.

How to Pay Dhanlaxmi Bank Car Loans Interest Online?

Pay you Dhanlaxmi Bank Car Loans Interest directly through Dhanlaxmi Bank’s website and by providing your Loan Account Number and pay using Net Banking or Debit/Credit Cards. You can also use Paytm for paying your Dhanlaxmi Bank car Loan Interest.

What if I can’t pay the interest on Dhanlaxmi Bank Car Loans for 3 months?

Dhanlaxmi Bank charges 24% of the outstanding amount or a Fee ranging from Rs.500 to Rs.5000 for not paying the EMI for 3 months.

How can I apply for EMI Moratorium on Dhanlaxmi Bank Car Loans?

You can apply for EMI Moratorium on Dhanlaxmi Bank car Loans directly from Dhanlaxmi Bank website’s Loan corner.

 What is the number for Dhanlaxmi Bank Car Loan agent?

Call Dialabank at 9878981166 as it is one of the most trusted Dhanlaxmi Bank Car Loan agents. Dialabank even ensures the best offers on your Car Loan.

 Can I close Dhanlaxmi Bank car loan online?

Dhanlaxmi Bank car Loan can be closed by visiting the nearest branch and clearing off the outstanding amount.

What is Dhanlaxmi Bank Car Loan Customer Care Number?

Call 9878981166 and clear any of your queries with us anytime.

 How can I get NOC from Dhanlaxmi Bank for Car loan?

You can get NOC directly from the branch for Dhanlaxmi Bank Car Loans.

What is the Dhanlaxmi Bank Car Loan closure procedure?

  • Just go to the bank with the documents.
  • Write a letter for pre-closure of the Dhanlaxmi Bank Car Loan account.
  • Pay the pre-closure charges as per Dhanlaxmi Bank Car Loan.

✅ What is the Dhanlaxmi Bank Car Loan preclosure charges?

Dhanlaxmi Bank Car Loan Car Loan preclosure charges are up to 5% of the outstanding principal.

✅ What is the Dhanlaxmi Bank Car Loan overdraft scheme?

For simplifying the process and providing you with a hassle-free service while processing an overdraft scheme at Dhanlaxmi Bank is provided, it gives you an online way to get your own overdraft, also known as Smartdraft – Overdraft Against Salary. You do not need to visit bank branches and go through a boring process. Just log in to the Dhanlaxmi Bank online banking portal and from there you can fill out a simple form and get an overdraft under your name.

✅ What is the Dhanlaxmi Bank Car Loan maximum tenure?

The Dhanlaxmi Bank Car Loan maximum tenure is 7 years.

✅ What is the Dhanlaxmi Bank Car Loan minimum tenure?

The Dhanlaxmi Bank Car Loan minimum tenure is 1 year.

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