Home Credit Bank Car Loan Key Features – Apr 16 2024
| Home Credit Bank Car Loan Rate of Interest | 7.35% per annum |
| Min Loan Amount | ₹ 1,00,000 |
| Max Loan Amount (Loan to Value) |
Loan up to 90% of On Road Price |
| Loan Tenure | 1 year to 7 years |
| Lowest EMI / Lac | ₹ 1,524 |
| Minimum Net Monthly Income | ₹ 25,000 |
| 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 | 0.40% of the principal amount |
| Home Credit Bank Car loan Foreclosure Charges | No foreclosure charges |
| Basic Documentation | ID Proof, Address Proof, Salary Slip, Bank Statement, and Car Quotation |
About Home Credit Bank Car Loan
Home Credit Bank Car Loan is available at reasonable interest rates to the consumer for buying their dream car, either new or second hand. It is an accessible loan that can be acquired by anyone who has a good CIBIL score. You need minimal documents to get your Car Loan application approved.
Advantages of Home Credit Bank Car Loan
Home Credit Bank Car Loan Eligibility
| Salaried Individual |
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| Self-Employed Individuals |
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| Self-Employed Non-Individuals (Company/Partnership) |
|
| Priority Customers |
|
Home Credit Bank Car Loan Interest Rate, fees
| Charges | New Car Loan | Used Car Loan |
| Interest Rate | 7.35% per annum |
Starts@9.65% |
| Processing fee | 0.40% of the principal amount | Up to 0.25% (Max Rs. 5,000) |
| Issuance of Duplicate Repayment Schedule Charges | Rs.500 per instance | Rs.500 per instance |
| Foreclosure Charges | No foreclosure charges | No foreclosure charges |
| 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 | NIL | NIL |
| Documentation Charge | Rs.1000 per instance | Rs.1000 per instance |
| Issuance of Duplicate No Dues Certificate Charges | NIL | NIL |
| Registration Certification Collection Charge | NIL | NIL |
| Cheque Bounce/Instrument Return Charges | Rs.750 per instance | Rs.750 per instance |
| Issuance of Duplicate Statement Charges | Rs. 10 per page | Rs.10 per page |
| Loan Cancellation/Re-booking Charges | NIL | NIL |
| Issuance of Credit Report | NIL | NIL |
Home Credit Bank Car Loan Documents Required
Salaried Individual
| Category | Documents Required |
| Identity Proof | Driving License Aadhaar Card Passport PAN Voter ID |
| Address Proof | Driving License Aadhaar Card Passport PAN Voter ID |
| Date of Birth Proof | Birth Certificate Passport Driving License PAN |
| Signature Proof | 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 | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Address Proof | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Date of Birth Proof | Birth Certificate Passport Driving Licence PAN |
| Signature Proof | 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:
Partnership Firms/Societies
| Category | Documents Required |
| Identity Proof | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Address Proof | 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 |
Private Limited/Limited Companies
| Category | Documents Required |
| Identity Proof | Copy of Latest MOA Copy of Incorporation Copy of Latest AOA |
| Address 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 |
| 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. |
Home Credit Bank Car Loan EMI Calculator
With the Home Credit Bank Car loan interest rate calculator, the borrower has the option to check out the EMI’s before getting a Car Loan. You can quickly check through the link below:
Home Credit Bank Car Loan Types
Home Credit Bank Car loan offers different types of car loans to its customers. You have the option of choosing the offer that works the best for you. The following types of Car Loans are available:
- New Car Loan – If you are thinking to buy a new car, it is the scheme for you. You can get a Car Loan from Home Credit Bank for a minimum of Rs. 1 lakh and a minimum tenure of 7 years.
- Used Car Loan – If you want to buy a used car, then you must choose this scheme which offers a minimum loan of Rs. 1 lakh and a minimum tenure of 5 years.
- Loan Against Car – You can choose this scheme if you require urgent funds to keep your cars as an assurance with the bank.
Home Credit Bank Car Loan Pre Calculated EMI
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
How to Apply for Home Credit Bank Car Loan online?
- Visit Dialabank and go to the Car Loan page.
- Look at various offers available on the Car Loan page.
- Fill the form available at the top of the page.
- Our Customer Relationship Manager will contact you.
- You can compare different offers of various banks and choose according to your suitability.
FAQs for Home Credit Bank Car Loan
✅ What is Home Credit Bank Car Loan?
Home Credit Bank Car Loan is a car loan provided for purchasing a new as well as a used car.
✅ How can I get a Car Loan from Home Credit Bank?
You can get a car loan from Home Credit Bank by visiting the nearest bank branch.
✅ How does Home Credit Bank Car Loan work?
Home Credit Bank car loan interest rates are provided at reasonable rates. You can get a car loan approval faster. Home Credit offers a flexible loan tenure period.
✅ What is the Car Loan Interest Rate in Home Credit Bank?
The interest rate charged by Home Credit Bank for a car loan starts at
7.35% per annum
.✅ How to Check Car Loan status in Home Credit Bank?
You must visit the Home Credit Bank branch to check your car loan status. Also, you can use Home Credit Bank’s net banking services to check your car loan status.
✅ How to Calculate Car Loan interest in Home Credit Bank?
For the calculation of your car loan interest in Home Credit Bank, the following information is required:
- Loan tenure
- Rate of interest
- Loan amount
- You can calculate car loan interest for Home Credit Bank through the EMI Calculator.
✅ What is the maximum loan amount I can avail myself of on a Car Loan from Home Credit Bank?
You can get a maximum loan amount of up to 90% of On Road Price for a car loan from Home Credit Bank.
✅ What is the loan tenure of Home Credit Bank Car Loan?
The loan tenure duration for a car loan from Home Credit Bank ranges from 1 to 7 years.
✅ Can I get a 100% Car Loan from Home Credit Bank?
You can get a loan up to 90% of On Road Price for a car loan from Home Credit Bank. To get a 100% Car loan, apply for the loan at Dialabank.
✅ How much is the processing fee applicable on Home Credit Bank Car Loan?
Home Credit Bank charged a processing fee is 0.40% of the principal amount for getting a car loan.
✅ What are the EMI options available on Home Credit Bank Car Loan?
Your car loan EMIs are automatically deducted from your bank account. Also, you can pay your car loan EMI through the net banking services of Home Credit Bank.
✅ What are the Home Credit Bank Car Loan Prepayment charges?
Home Credit Bank does not have any prepayment charges for availing of a car loan.
✅ Can I get a top-up loan on my existing Home Credit Bank Car Loan?
Yes, you can get a top-up loan on your existing Home Credit Bank Car loan. The online platform of Dialabank can also help you get a top-up.
✅ Do I need to provide a guarantor to avail myself of a car loan from Home Credit Bank?
A guarantor for getting a car loan from Home Credit Bank will only increase your car loan eligibility.
✅ How to get a Home Credit Bank Car Loan Statement?
For getting a car loan statement from Home Credit Bank, you can use the Bank’s mobile banking app. Also, you can visit Dialabank online, fill a simple form and get offers.
✅ How to pay Home Credit Bank Car Loan interest online?
You can pay your car loan interest through the net – banking services of Home Credit Bank. For getting a low-interest car loan, you can visit Dialabank online.
✅ What if I can’t pay the interest on Home Credit Bank Car Loan for 3 months?
If you can’t pay the interest on Home Credit Bank Car Loan for 3 months, it will add up to the outstanding loan amount, and repayment charges will be reframed.
✅ How can I apply for EMI Moratorium on Home Credit Bank Car Loan?
You can apply for EMI Moratorium on Home Credit Bank by visiting the nearby branch. You can also submit a request through email. Also, if you want relief for the balance duration, you must apply through Dialabank.
✅ Can I close the Home Credit Bank Car loan online?
You can close your car loan from Home Credit Bank by using the net-banking page. You have to log in with your Home Credit Bank Car loan details on the net -banking page and pay your car loan.
✅ What is the Home Credit Bank Car Loan Customer Care Number?
The customer care number of Home Credit Bank Car loan queries is 9878981144.
✅ How can I get NOC from Home Credit Bank for a car loan?
You can get a car loan NOC from Home Credit Bank when you clear your car loan amount.
✅ What is the Home Credit Bank Car Loan closure procedure?
- Just go to the bank with the documents.
- Write a letter for pre-closure of the Home Credit Bank Car Loan account.
- Pay the pre-closure charges as per the rules.
✅ What are the Home Credit Bank Car Loan preclosure charges?
Home Credit Bank Car Loan preclosure charges are zero.
✅ What is the Home Credit Bank Car Loan maximum tenure?
The Home Credit Bank Car Loan maximum tenure is 7 years.
✅ What is the Home Credit Bank Car Loan minimum tenure?
The Home Credit Bank Car Loan minimum tenure is 1 year.
