Nagaland Rural Bank Car Loan

Nagaland Rural Bank Car Loan Key Features – Jan 2021

Nagaland Rural Bank Car Loan Interest Rate

7% per annum

Min Loan Amount ₹ 1,00,000
Max Loan Amount (Loan to Value) Loan up to 90%-100% of Principal 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: 18 years to 75 years
Self Employed: 18 years to 75 years
Types of Cars For All New Passenger Cars, Multi Utility Vehicles (MUVs) and Sport Utility Vehicle (SUVs), Compact Car, Premium Cars and Super Premium Cars.
Processing Fee Starts from 0.23% of the loan amount
Foreclosure Charges NIL
Basic Documentation ID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation

About Nagaland Rural Bank Car Loan

Nagaland Rural Bank Car Loan helps their customers get the dream car. Their car loan comes with a minimum interest rate, low processing fee and up to 100% Lone to Value. One of the major benefits of Nagaland Rural Bank Car Loan is that you require minimum documents and of you are eligible, getting a loan is not difficult. It is also easy for people with low CIBIL score to get a Car Loan. It helps you buy a new car as well as an old one. 

Advantages of Nagaland Rural Bank Car Loan

Nagaland Rural Bank Car Loan

 

Nagaland Rural Bank Car Loan Car Loan Eligibility

Salaried Individual
  • Age – 18-75 years of age
  • Net Monthly Income – should be minimum ₹ 20,000
  • Employment Duration – Minimum 1 year
  • Income Eligibility – Depends on Form 16 and Salary Slip
Self-Employed Individuals
  • Age – 18-75 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

Nagaland Rural Bank Car Loan Interest Rate, Fees, and Charges

Charges New Car Loan Used Car Loan
Interest Rate

7% per annum

10% -15% p.a.
Processing fee Starts from 0.23% of the loan amount Starts from 0.23% of the loan amount
Issuance of Duplicate Repayment Schedule Charges Rs.250 per instance Rs.250 per instance
Foreclosure Charges NIL NIL
Penal Interest 2% per month 2% per month
Part Payment charges 2% of the paid amount 2% of the paid amount
Cheque/Instrument Swap Charge Rs.750 per instance Rs.750 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.250 per instance Rs.250 per instance
Cheque Bounce/Instrument Return Charges Rs.750 per instance Rs.750 per instance
Issuance of Duplicate Statement Charges Rs.250 per instance Rs.250 per instance
Loan Cancellation/Re-booking Charges NA NA
Issuance of Credit Report Rs.50 per instance Rs.50 per instance

Nagaland Rural 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.

Nagaland Rural Bank Car Loan EMI Calculator

The applicant has the option to check the EMI’s before getting a Car Loan from Nagaland Rural Bank Car Loan. So, you can easily check out through the link below:

Car Loan EMI Calculator

Nagaland Rural Bank Car Loan Types

Nagaland Rural Bank provides different types of car loans to its customers. You can choose any loan that works the best for you.

  1. New Car Loan – This Car Loan can be taken by those who want to purchase a new car. You can take the Nagaland Rural Bank Car Loan for a minimum of Rs. 1 lakh and a minimum tenure of 7 years.
  2. Used Car Loan – This Car Loan can be taken by those who want to purchase a used Car Loan. You can select this proposal for it offers a minimum loan of Rs. 1 lakh and a minimum tenure of 5 years.
  3. Loan Against Car – You can choose for this proposal if you are in need of urgent funds from Nagaland Rural Bank where you can keep your cars as security with the bank 90% – 100% of your car’s value.

Nagaland Rural Bank Car Loan Pre Calculated EMI

How to Apply for Nagaland Rural Bank Car Loan?

  1. Visit Dialabank .
  2. Fill the form available on the top of the page.
  3. Our Customer Relationship Manager will get in touch with you. 
  4. We will assist you throughout the process.
  5. You can compare offers from different banks and see what works best.
  6. Dialabank provides you offers and assures hassle free fast approval.

Nagaland Rural Bank Car Loan for Top Selling Cars

FAQs for Nagaland Rural Bank Car Loan

✅ What is the Nagaland Rural Bank Car Loan?

Nagaland Rural Bank Car Loan is the loan sum provided to its clients by the business for a new or used car.

✅ How can I get a Car Loan from Nagaland Rural Bank?

Dialabank helps you get a hassle-free fast approvals. You just need the eligible documnets.

✅ How does Nagaland Rural Bank Car Loan work?

When you apply for a car loan, Dialabank representative will call you get you through the process. After the document verification process, the loan amount will be credited to your account.

✅ What is the Car Loan Interest Rate in Nagaland Rural Bank?

The interest rate on a car loan in Nagaland Rural Bank is

7% per annum

only.

✅ How to Check Car Loan status in Nagaland Rural Bank?

You can track your car loan status online on Nagaland Rural Bank Car loan status website.

✅ How to Calculate Car Loan Interest in Nagaland Rural Bank?

Use Dialabank’s EMI calculator to find out the interest in Nagaland Rural Bank.
 

✅ What is the maximum loan amount I can avail of on Car Loan from Nagaland Rural Bank?

The maximum loan amount you can avail of on a car loan is up to 90% of On Road Price.

✅ What is the loan tenure of the Nagaland Rural Bank Car Loan?

The loan tenure of the Nagaland Rural Bank Car Loan is a peak of 7 years.

✅ Can I get a 100% Car Loan from Nagaland Rural Bank?

Yes, you can get a 100% Ex-showroom Price car loan from Nagaland Rural Bank.

✅ How much Processing Fee is applicable to the Nagaland Rural Bank Car Loan?

Nagaland Rural Bank charges a processing fee of 2%.

✅ What are the EMI options available on the Nagaland Rural Bank Car Loan?

Nagaland Rural Bank Gives two EMI options for a car loan:- Step-up EMI and Balloon EMI.

✅ What are the charges for Prepayment in Nagaland Rural Bank Car Loan?

You can prepay/foreclose your Nagaland Rural Bank Car Loan with 5% as foreclosure costs.

✅ Can I get a top-up loan on my existing Nagaland Rural Bank Car loan?

You can get a top-up loan on your current car loan from Nagaland Rural Bank for up to 150% of its worth.

✅ Do I need to provide a guarantor to avail a car loan from the Nagaland Rural Bank?

You don’t need a guarantor for a car loan. However, in some cases you may need a guarantor if you don’t fulfill the eligibility criteria.

✅ How to get the Nagaland Rural Bank Car Loan Statement?

Get the statement in person by visiting your branch or just find it online.

✅ How to Pay Nagaland Rural Bank Car Loan Interest Online?

Simply login to Nagaland Rural Bank Car Loan payment to ‘see and pay’ your statements. You will get an electronic acknowledgment for every bill paid. 

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

Nagaland Rural Bank Car Loan imposes 24% of the exceptional amount or a Fee covering from Rs.500 to Rs.5000 for not paying the EMI for 3 months.

✅ How can I apply for EMI Moratorium on Nagaland Rural Bank Car Loan?

You can apply for EMI Moratorium on Nagaland Rural Bank Car Loan directly from the Nagaland Rural Bank website’s Loan corner.

✅ What is the number for the Nagaland Rural Bank Car Loan agent?

Call Dialabank at 9878981166 as it is one of the most granted Nagaland Rural Bank Car Loan agents. Dialabank even guarantees the best offers on your Car Loan.

✅ Can I close the Nagaland Rural Bank Car Loan online?

Nagaland Rural Bank Car Loan can be stopped by visiting the nearest branch and clearing off the outstanding value.

✅ What is the Nagaland Rural Bank Car Loan Customer Care Number?

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

✅ How can I get NOC from the Nagaland Rural Bank Car Loan?

You can get NOC straight from the branch for Nagaland Rural Bank Car Loan.

✅ What is the Nagaland Rural Bank Car Loan closure procedure?

Just go to the bank with the documents if you are eligible, getting a Nagaland Rural Bank Car Loan is not difficult.

✅ What are the Nagaland Rural Bank Car Loan preclosure charges?

Nagaland Rural Bank Car Loan preclosure charges are up to 6%+ GST.

✅ What is the Nagaland Rural Bank Car Loan maximum tenure?

The Nagaland Rural Bank Car Loan maximum tenure is 7 years.

✅ What is the Nagaland Rural Bank Car Loan minimum tenure?

The Nagaland Rural Bank Car Loan minimum tenure is 1 year.

 

 

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