Jammu and Kashmir Bank Car Loan

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Buy your dream Car

Rates as low as 8.50%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

Jammu and Kashmir Bank Car Loan Key Features

Jammu and Kashmir Bank Car Loan Interest Rate 7.35%* per annum
Min Loan Amount ₹ 1,00,000
Max Loan Amount
(Loan to Value)
100% of Ex-showroom Price
Loan Tenure 12 to 84 months
Lowest EMI / Lac ₹ 1,634
Minimum Net Monthly Income ₹ 25,000
Minimum ITR for Self Employed ₹ 4,00,000
Age Criteria Salaried: 21 years – 60 years
Self Employed: 21 years – 70years
Types of Cars For All New Passenger Cars, Multi Utility Vehicles (MUVs) and Sport Utility Vehicle (SUVs).
Processing Fee 0.50% or minimum Rs.1500
Foreclosure Charges Nil
Basic Documentation ID Proof, Address Proof, Salary Slip and Car Quotation

About Jammu and Kashmir Bank Car Loan

Jammu and Kashmir bank is a semi-state owned financial institution formed on 1st Oct 1938 and is currently under the maintenance of the CEO R.K.Chhibber.
Headquartered in Srinagar, the Government of Jammu and Kashmir owns Jammu and Kashmir Bank’s 68.18% shares.

Jammu and Kashmir Bank provides numerous financial products to its customers.
Jammu and Kashmir Car Loan are available for customers looking to buy their dream car at affordable Rate of Interests.

Advantages of Jammu and Kashmir Bank Car Loan

Jammu and Kashmir Bank Car Loan

Jammu and Kashmir Bank Car Loan Eligibility

Salaried Individual
  • Age – Should be minimum of 21 years old and should not exceed 60 years.
  • Net Monthly Income – Rs.25000 is the base criteria.
  • Employment Duration – At least one year
  • Income Eligibility – Form 16
Self-Employed Individuals
  • Age – 21-70 years of age
  • Minimum ITR  – Rs. 4 lakh
  • Employment Duration – 3 years(minimum)
  • Income Eligibility –  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 must be associated with at least six months.
  • Average Quarterly Balance – Rs.5000
  • Maximum Loan Amount – 3 times

Jammu and Kashmir Bank Car Loan Interest Rate, Fees and Charges

Charges New Car Loan Used Car Loan
Interest Rate      7.35% p.a. to 11.30% p.a.    14.80% p.a. to 16.80% p.a.
Processing fee 0.50%(minimum Rs.1500) 0.50%(minimum Rs.1500)
Issuance of Duplicate Repayment Schedule Charges Above Rs.350 Above Rs.350
Foreclosure Charges Nil Nil
Penal Interest 2% per month 2% per month
Part Payment charges 5% of the paid amount 5% of the paid amount
Cheque/Instrument Swap Charge Above Rs.350 Above Rs.350
Documentation Charge Above Rs.350 Above Rs.350
Issuance of Duplicate No Dues Certificate Charges Above Rs.350 Above Rs.350
Registration Certification Collection Charge Above Rs.150 Above Rs.150
Cheque Bounce/Instrument Return Charges Above Rs.350 Above Rs.350
Issuance of Duplicate Statement Charges Above Rs.350 Above Rs.350
Loan Cancellation/Re-booking Charges Nil Nil
Issuance of Credit Report Above Rs.50 Above Rs.50

Jammu and Kashmir Bank Car Loan Documents Required

Salaried Individual

Category Documents Required
Identity Proof

 

(Any 1)

Voter ID
Aadhar Card
Passport
Address Proof

 

(Any 1)

Driving Licence
Passport
Electricity Bill
Date of Birth Proof

 

(Any 1)

Birth Certificate
Passport
Driving Licence
PAN
Signature Proof

 

(Any 1)

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

Self-Employed Individuals

Category Documents Required
Identity Proof (Any 1) Aadhar card
PAN Card
Driving License
Address Proof (Any 1) Driving Licence
Aadhaar Card
Voter ID
Utility Bills
Date of Birth Proof (Any 1) Birth Certificate
Passport
Driving Licence
High School Marksheet
Signature Proof (Any 1) Passport
PAN
Bankers verification
Income Proof Latest Form 16 and Salary Slips
Bank Statement Bank statement of last three months
Employment Continuity Proof Current Account Statement
SSI or MSME Registration Certificate
Shop & Establishment Act Certificate
Sales Tax or VAT Certificate
Business Proof Telephone Bill
Electricity Bill
Current Account Statement
Sales Tax or VAT Certificate
Registered Lease Document with other utility bills
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
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 two years
Bank Statement Bank statement of last three 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 AOA, Incorporation and MOA
Address Proof (Any 1) Current Account Statement
Shop & Establishment Act Certificate
Sales Tax or VAT Certificate
Registered Lease Document with other utility bills
SSI or MSME Registration Certificate
Telephone Bill
Electricity Bill
Income Proof Audited Balance sheet, P&L Account and Filed ITR
  Previous three months bank statement
Business Continuity Proof SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Shop & Establishment Act Certificate
Current Account Statement
Additional documents
PAN Card
Board Resolution
List of Directors and Shareholding Partners
Certificate of Commencement of Business for Ltd. Co.

Jammu and Kashmir Bank Car Loan EMI Calculator

Check your EMIs even before applying for the loan by following this:

Car Loan EMI Calculator

Jammu and Kashmir Bank Car Loan Types

Jammu and Kashmir provide various financial products, and Car Loan is one among them. Depending upon the needs, the Loan can be availed:

  1. New Car Loan –  For those who are looking for a fresh and new car. Avail this loan for a flexible tenure up to 7 years.
  2. Used Car Loan – Take Used Car Loan for buying any second-hand car with full documents available. Get the loan for long tenures up to 5 years.
  3. Loan Against Car – Individuals can even get a loan against their owned cars for quick fund approvals by keeping the car as the collateral.

Jammu and Kashmir Bank Car Loan Pre Calculated EMI

How to Apply for Jammu and Kashmir Bank Car Loan?

  1. Reach out Dialabank and fill the necessary information.
  2. Get in touch with our well-trained Relationship manager and know more about the options available.
  3. Select the best Car loan according to you needs fro long ist available.
  4. All the guidance and services throughout the Car loan process is free of cost.

Jammu and Kashmir Bank Car Loan for Top Selling Cars

Other Available Products from Jammu and Kashmir Bank

Jammu and Kashmir Bank Personal Loan Jammu and Kashmir Bank Credit Card
Jammu and Kashmir Bank Gold Loan Jammu and Kashmir Bank Home Loan 

FAQs for Jammu and Kashmir Bank Car Loan

✅ What is Jammu and Kashmir Bank Car Loan?

Jammu and Kashmir Bank Car Loan is a secured loan provided by the Bank to applicants looking to allocate funds for buying a new or used car.

✅ How can I get Car Loan from Jammu and Kashmir Bank?

Jammu and Kashmir Car Loan can be availed by applying directly through Dialabank or reaching out the nearest branch of the Bank.

✅ How does Jammu and Kashmir Bank Car Loan work?

Working of Jammu and Kashmir Bank Car Loan is pretty simple as it involves the allocation of funds to its customers willing to buy a car and keeping the same as collateral. Rate of Interest is charged against the loan and is repaid in burdenless EMIs.

✅What is the Car Loan Interest Rate in Jammu and Kashmir Bank?

Car Loan Interest Rate in Jammu and Kashmir Bank is as low as 7.35% per annum.

✅How to Check Car Loan status in Jammu and Kashmir Bank?

Check car Loan status in Jammu and Kashmir Bank directly by reaching out the Bank’s website and providing your Loan number in the Loan Status page.

✅How to Calculate Car Loan Interest in Jammu and Kashmir Bank?

Calculate Car Loan Interest in Jammu and Kashmir Bank by using Dialabank’s Calculator. This Calculator provides information about EMI and Interest of your Loan.

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

Car Loan from Jammu and Kashmir bank can avail you up to 100% amount of ex-showroom price of the vehicle.

✅What is the loan tenure of Jammu and Kashmir Bank Car Loan?

Jammu and Kashmir Bank Car Loan Tenure range between 12 to 84 months.

✅Can I get 100% Car Loan from Jammu and Kashmir Bank?

Yes, 100% car loan from Jammu and Kashmir Bank can be provided on Ex-showroom price of the car.

✅How much Processing Fee is applicable on Jammu and Kashmir Bank Car Loan?

Processing Fees of 0.50% or a minimum of Rs.1500 is applicable on Jammu and Kashmir Bank Car Loan.

✅What are the EMI options available on Jammu and Kashmir Bank Car Loan?

EMI options of Step-up EMI and Balloon EMI are available with Jammu and Kashmir Bank Car Loan.

✅What are the charges for Prepayment in Jammu and Kashmir Bank Car Loan?

There are NO charges for Prepayment in Jammu and Kashmir Bank Car Loan.

✅Can I get a top-up loan on my existing Jammu and Kashmir Bank Car Loan?

Top-up Loan on Existing Jammu and Kashmir Bank Car Loan can only be availed under particular circumstances.

✅Do I need to provide a guarantor to avail a Car Loan from  Jammu and Kashmir Bank?

A guarantor is not needed to avail a Car Loan from Jammu and Kashmir Bank.

✅How to get Jammu and Kashmir Bank Car Loan Statement?

Jammu and Kashmir Bank Car Loan Statement is readily available on the Bank’s website and can be availed by providing the Loan Details.

✅How to Pay Jammu and Kashmir Bank Car Loan Interest Online?

Pay Jammu and Kashmir Bank Car Loan Interest Online through Bank’s Payment gateways using your Net Banking.

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

Bank has the right to seize the vehicle or charge a nominal penalty for not paying Jammu and Kashmir Bank Car Loan EMI for 3 Months.

✅How can I apply for EMI Moratorium on Jammu and Kashmir Bank Car Loan?

EMI Moratorium on Jammu and Kashmir Bank Car Loan can be requested directly with the Bank.

✅What is the number for Jammu and Kashmir Car Loan agent?

9878981177 is the number for Jammu and Kashmir most valuable Car Loan Agent, i.e. Dialabank.

✅Can I close Jammu and Kashmir Bank Car Loan online?

Jammu and Kashmir bank car Loan cannot be closed online, and Applicant has to reach the branch for the closure process.

✅What is Jammu and Kashmir Bank Car Loan Customer Care Number?

9878981166 is the number for all the queries related to Jammu and Kashmir Bank Car Loan.

✅How can I get NOC from Jammu and Kashmir Bank for Car Loan?

NOC from Jammu and Kashmir Bank for Car Loan can be availed after the completion of the foreclosure process.

 

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