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Narmada Jhabua Grameen Bank Car Loan

Narmada Jhabua Grameen Bank Car Loan Key Features –

About Narmada Jhabua Grameen Bank Car Loan

Narmada Jhabua Grameen Bank is established in the year 2012. Its headquarters is located in Indore, Madhya Pradesh. It has over 400 branches across the state. It provides services like Fixed deposits, Savings deposits, loans, and the NEFT. For Car loans, the Interest rates are 10%.

Advantages of Narmada Jhabua Grameen Bank Car Loan

Advantages of car loan

Narmada Jhabua Grameen Bank 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

Narmada Jhabua Grameen Bank Car Loan Interest Rate, Fees, and Charges

Charges New Car Loan Used Car Loan
Interest Rate 7.05% per annum 11.80% p.a. to 13.80% p.a.
Car loan Processing fees 0.004 0.004
Issuance of Duplicate Repayment Schedule Charges Around Rs.500 Around Rs.500
Foreclosure Charges 0.06 0.06
Penal Interest 2% PM 2% PM
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

How to Increase Your Eligibility for Narmada Jhabua Grameen Bank Car Loan

  • For the Narmada Jhabua Grameen Bank Car Loan, you need to know the Short tenure, Credit score, low debt to income ratio, and the low amount.
  • Short term: If you can avail of the brief tenure, then the interest rates are high. By this, banks can know about the repayment tenure, and banks help themselves the car loans. In this way, the short term is used. Narmada Jhabua Grameen Bank Car Loan
  • Credit score: A credit score is one of the essential things in Car loans. The credit scores may range from 650-750, and a credit score above 750 is also helpful. 
  • Low debt to income ratio: If you can get the shared obligation to income ratio, you can avail of the car loans. As the income is high and debts are low in this, you can help the car loans.
  • Low Amount: If your loan amount is low, then you can avail of the Car loans. Based on the loan amount, only you can help with the car loans.

Factors Affecting Narmada Jhabua Grameen Bank Car Loan Eligibility

  • Factors affecting the Narmadha Jhabua Grameen Bank Car Loan Eligibility are Income, Credit score, repayment system, and low amount.
  • Then repayment systems. If you can take the short repayment systems, you can avail yourself of the high interest rates. So banks may increase the eligibility for car loans.
  • Then the credit score is another most important thing. If the credit score is between 650 -750, you can avail of the high car loans.

Narmada Jhabua Grameen Bank Car Loan Processing Fees

  • Narmada Jhabua Grameen Bank has a non-refundable processing fee. 
  • These Processing fees may range from 5000-10,000 rupees. 

New Car Loan: Pre-owned car Loan & Loan against Car

Pre Owned Car Loan: In pre-owned car loans, you can avail the 85% of the car loans. And you can take preowned car loans in Narmada Jhabua Grameen Bank, and you can help yourself with lots of benefits in it.

Loan against Car: If you are in financial need, then you can avail of the loan against the car. In the Loan against the vehicle, you can help 50% of the car amount. You can also avail Loan against the vehicle in the Banks.

Narmada Jhabua Grameen Bank Car Loan Customer Care – Toll-Free Number

If you want to avail of a car loan in Narmada Jhabua Grameen Bank, you can contact their customer care number 18002336295. You can clarify all of your doubts with the customer care related to the car loans.

Narmada Jhabua Grameen Bank Car Loan Interest Rates and Charges

Narmada Jhabua Grameen Bank Pre-Owned Car Loans Other Charges

Narmada Jhabua Grameen 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.

Narmada Jhabua Grameen Bank Car Loan EMI Calculator

By using the address below, you can avail of the Car Loan EMI Calculator:

Car Loan EMI Calculator

Narmada Jhabua Grameen Bank Car Loan Types

When coming to the types of car loans, you can avail of the New Car loan, Used Car loan and Loan against the car. In New Car Loan, the New car is used for car loans. And I’m these the loan amount you can avail is of 1 lakh rupees with the tenure time of 7 years. In the Used car loans, the loan amount is 1 lakh with five years. And apart from these, the Loan against the car is also used for financial needs. Based on the tenure time, these loans differ.

How to Apply for Narmada Jhabua Grameen Bank Car Loan?

  • You can apply for the Narmada Jhabua Grameen Bank by Dialabank.
  • You can fill in the details and then our manager will contact you.
  • And then they will explain all the details related to the Car loans.
  • By applying through dialabank, you can avail yourself of lots of benefits.

 Tips for deciding the right amount of EMI

  • If you want to decide the right amount of EMI, you need to know the loan amount. You should tell banks the amount of Loan you are going to take.
  • Then you need to know the expenses and debts to understand how much money you can repay and how much money you can take.
  • You should see the eligibility of the car loans.
  • And multiplier-based calculations are also used.

Narmada Jhabua Grameen Bank car loan EMI – EMI changes in case of prepayment

  • If you want to repay the loan, then you should pay some penalties.
  • These penalties are between 2-5%.
  • And if you don’t want to repay the loan, you can increase the loan amount and decrease the EMI.
  • Or else you can increase EMI and reduce the loan amount.

How to Calculate Narmada Jhabua Grameen Bank Car Loan EMI

Narmada Jhabua Grameen Bank calculates the Car Loan by using the formula:

E = P*r*[(1+r) ^n/((1+r) ^n-1)]

E is the EMI, r is the interest rates, Pis the Principal amount, and n is the number of years of tenure.

Compare Narmada Jhabua Grameen Bank Car Loan With Other Banks In India

FAQs for Narmada Jhabua Grameen Bank

✅ What is the formula for calculating the EMI of Car Loans?

The Formula for calculating the EMI of Car Loans is of E = P*r*[(1+r) ^n/((1+r) ^n-1)].

✅ How can you get a Car Loan in Narmada Jhabua Grameen Bank?

You can avail a Car Loan by using Dialabank.

✅ What are the Car Loan Interest Rates in the Narmada Jhabua Grameen Bank?

The Car Loan Interest rate is 7%.

✅ How many loans can avail of for a Used Car Loan?

The Loan amount you can avail of is 1 lakh rupees.

News about Car loan

The 261 percent increases the income of the banks

The income of the banks is increasing these days. This is based on the loans like car loans, home loans, and gold loans. Apart from this, based on the savings account and the fixed deposit, these banks’ money is increasing.

 

 

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