Kerala Gramin Bank Car Loan

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Kerala Gramin Bank Car Loan

Kerala Gramin Bank Car Loan Key Features – Jan 2021

Kerala Gramin Bank Car Loan Interest Rate

7% per annum

Min Loan Amount ₹ 100,000
Max Loan Amount Loan up to 90% of On Road Price
(Loan to Value) or 100% of Ex-showroom Price
HDFC car Loan Tenure 1 year to 7 years
Lowest EMI / Lac ₹ 1,622
Minimum Net Monthly Income ₹ 20,000
Minimum ITR for Self Employed ₹ 2,00,000
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).
Kerala Gramin Bank Processing Fee 0.40% of the principal amount
Foreclosure Charges 6% (7-12 months)
Basic Documentation Address Proof, Bank Statement, Car Quotation and ID Proof

About Kerala Gramin Bank Car Loan

Kerala Gramin Bank has a bouquet of loan under their banner. The Kerala Gramin Bank Car loan is available at an interest rate starting at

7% per annum

.

Kerala Gramin Bank Car loan comes with attractive rates and helps their customers get the best LTV on the car purchases. The bank also offers this loan to people having a low CIBIL score.

Advantages of Kerala Gramin Bank Car Loan

Kerala Gramin Bank Car Loan Car Loan Interest Rate

Kerala Gramin Bank Car Loan Eligibility

Salaried Individual
  • Age – 21 years to 60 years
  • Net Monthly Income – Minimum ₹ 20,000
  • Employment Duration – 1-year minimum
  • Income Eligibility – Based on Form 16 and salary slip
Self-Employed Individuals
  • Age – 21-65 years of age
  • Minimum 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 vintage
  • Average 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

Kerala Gramin Bank Car Loan Interest Rate, Fees and Charges

Charges New Car Loan Used Car Loan
Interest Rate

7% per annum

14.80% p.a. to 16.80% p.a.
Kerala Gramin Bank car loan 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
Kerala Gramin Bank car loan 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

Kerala Gramin Bank Car Loan 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) PAN
Bankers Verification
Passport
Bank Statement Bank statement of last 6 months
Employment Continuity Proof Latest ITRs
Shop & Establishment Act Certificate
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.

Kerala Gramin Bank Car Loan EMI Calculator

Any customer can calculate the EMI on the Car Loan before even availing it by following the link below:

Car Loan EMI Calculator

How to Apply for Kerala Gramin Bank Car Loan?

  1. Reach us out at Dialabank .
  2. Fill out the form that is available on the top of the page.
  3. Our Relationship Manager will get in touch with you.
  4. We will help you compare different rates and choose the best way to go about Kerala Gramin Bank Car Loan.
  5. With Dialabank you can get instant loan approvals.

FAQs for Kerala Gramin Bank Car Loan

✅ What is Kerala Gramin Bank Car Loan?

Kerala Gramin Bank Car Loan is the amount that is provided by the bank to its customers to buy their dream car.

✅ How can I get Car Loan from Kerala Gramin Bank?

You can Apply for Kerala Gramin Bank Car Loan with Dialabank .

✅ How does Kerala Gramin Bank Car Loan work?

Kerala Gramin Bank Car Loan provides car loan to all the eligible Customers. The bank checks and verifies your documents, and if you meet the criteria you can avail the Car Loan. The loan payment is done in the form of EMIs or by making use of Post dated Cheques.

✅ What is the Car Loan Interest Rate in Kerala Gramin Bank?

Kerala Gramin Bank Car Loan rate starts from

7% per annum

.

✅ How to Check the Kerala Gramin Bank Car Loan status?

Visit the Kerala Gramin Bank Car Loan website, enter you Loan details and get the status of the same in seconds. The Kerala Gramin Bank Car Loan status can also be enquired from the Bank Branch.

✅ How to check the Kerala Gramin Bank Car Loan interest calculator?

Use Dialabank EMI Calculator to calculate the Interest Rate and the 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 Kerala Gramin Bank Car Loan?

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

✅ What is the loan tenure of Kerala Gramin Bank Car Loan?

Loan tenure of Kerala Gramin Bank Car Loan goes on from 1 Year to 7 Years for a New Car and 1 Year to 5 Years for Used Cars.

✅ Can I get 100% Car Loan from Kerala Gramin Bank Car Loan?

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

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

Kerala Gramin Bank Car Loan charges 0.40% of Principal Amount as the Processing Fee.

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

Kerala Gramin Bank Car Loan offers two EMI options : Step-up EMI and Balloon EMI.

✅ What are the charges for Kerala Gramin Bank Car Loan Payment or Prepayment?

Foreclosure for Kerala Gramin Bank Car Loan is 6% of the pending loan amount before the tenure ends.

✅ Can I get a top-up loan on my existing Kerala Gramin Bank Car Loan?

Kerala Gramin Bank Car Loan provides Zero paperwork that instantly Top-up the existing Car Loan on a fixed reducing Rate of Interest.

✅ Do I need to provide a guarantor to avail a car loan from Kerala Gramin Bank?

Kerala Gramin Bank doesn’t ask for any guarantor to avail Car Loan.

✅ How to get Kerala Gramin Bank Car Loan Statement?

You can get Kerala Gramin Bank Car Loan Statement by logging in to the website and looking for the Loan Status. The Bank branch can also be visited to get a loan Statement.

✅ How to Pay Kerala Gramin Bank Car Loan Interest Online?

You can pay Kerala Gramin Bank Car Loan interest online by either visiting the bank website and using Debit Cards or Net Banking to do the payment or visit the branch to do the same.

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

Kerala Gramin 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 Kerala Gramin Bank Car Loan?

You can apply for EMI Moratorium directly from the the website’s Loan corner.

✅ What is the number for Kerala Gramin Bank Car Loan agent?

Call Dialabank at 9878981166 as we are one of the most trusted Kerala Gramin Bank Car Loan agents.

✅ Can I close the Kerala Gramin Bank Car Loan online?

The Kerala Gramin Bank Car Loan cannot be closed online. You will have to visit the branch, produce documents and after successful verification, your car Loan account can be closed.

✅ What is Kerala Gramin Bank Car Loan Customer Care Number?

For contacting Kerala Gramin Bank Car Loan call on the Customer Care number 9878981166 .

✅ How can I get from Kerala Gramin Bank Car Loan NOC?

You can get Kerala Gramin Bank Car Loan NOC directly from the Bank branch.

✅ What is the Kerala Gramin Bank Car Loan closure procedure?

  • Visit the bank branch with the documents.
  • Write an application for pre-closure of the Loan account.
  • Pay the pre-closure charges as per the bank requirements.

✅ What are the Kerala Gramin Bank Car Loan preclosure charges?

Kerala Gramin Bank Car Loan preclosure charges are up to 6%+ GST.

✅ What is the Kerala Gramin Bank Car Loan overdraft scheme?

Kerala Gramin Bank Car Loan provides Overdraft scheme online and offline. It is also known as Smartdraft – Overdraft Against Salary. You do not need to visit bank branches and go through a long process. Just log in to the online banking portal, fill out a simple form and get an overdraft under your name.

✅ What is the Kerala Gramin Bank Car Loan maximum tenure?

The Kerala Gramin Bank Car Loan maximum tenure is 7 years.

✅ What is the Kerala Gramin Bank Car Loan minimum tenure?

The Kerala Gramin Bank Car Loan minimum tenure is 1 year.

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