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Paschim Banga Gramin Bank Car Loan

Paschim Banga Gramin Bank Car Loan Key Features –

About Paschim Banga Gramin Bank Car Loan

  • Paschim Banga Gramin Bank Car LoanPaschim Banga Gramin Bank was established in 2007. And its headquarters is located in Howrah. It has over 240 branches in the state. It provides services like Savings deposits, Fixed deposit and NEFT and Loans like personals loans, car loans, home loans, and gold loans. The Interest rates for these Car loans are 10.20% to 13.20%.

Advantages of Paschim Banga Gramin Bank Car Loan

Advantages of car loan

Paschim Banga 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

Paschim Banga Gramin 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 Paschim Banga Gramin Bank Car Loan

  • Short tenure, Low amount, Credit score, and the Low debt to income ratio are used for the Car Loans’ eligibility.
  • You can avail yourself of the high benefits in the short tenure time, and the interest rates are high. So banks can avail themselves of the car loans in it. In this way, the Short tenures are used.
  • Apart from these, the credit score is also one of the most important things. If the credit score is high, then you can avail of the high car loans. In this way, the credit scores are used.
  • Low debt to income ratio is also used for Car Loans. If the income is high and debt is low, you can easily avail of high Car loans. In this way, the low debt to income ratio.
  • The low amount is also one of the most important things in Car loans. And if the amount of the loans is low, then the banks can easily avail these car loans. These are some of the factors that increase the eligibility for car loans.

Factors Affecting Paschim Banga Gramin Bank Car Loan Eligibility

  • The factors that affect the Car loan eligibility is income, low amount, credit score and the repayment systems. Income is one of the important factors that affect car loans. If the income is high, then you can avail of the high car loans.
  • The credit score is between 650-750. If the credit score is above 750, then you can avail of the high car loans.
  • If the loan amount is low, then you can avail of the car loans. Based on the loan amount, you can easily avail of car loans in the banks.
  • In repayment systems, there will be short tenure. If you choose the short tenure, then you can avail of the high Car loans. These are some of the factors that affect car loans.

Paschim Banga Gramin Bank Car Loan Processing Fees

  • Paschim Banga Gramin 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: You can take Car Loans in the Paschim Banga Gramin Bank, and you can avail of various benefits in it. You can help with up to 85% of the car loan amount in pre-owned car loans.

Loan against Car: You can take a loan against a car if you are in financial need. And you can avail of up to 50% of the car loan amount in the loan against the vehicle.

Paschim Banga Gramin Bank Car Loan Customer Care – Toll-Free Number

You can contact customer care if you have any queries or doubts. They will help you in knowing about car loans. The customer care numbers for these Car loans are 03326676078 and 033-26679327, and 033-26679478.

Paschim Banga Gramin Bank Car Loan Interest Rates and Charges

Paschim Banga Gramin Bank Pre-Owned Car Loans Other Charges

Paschim Banga 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.

Paschim Banga Gramin Bank Car Loan EMI Calculator

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

Car Loan EMI Calculator

Paschim Banga Gramin Bank Car Loan Types

The car loan has various types like the new car loan, Used car loan and the loan against the car. New car loans are used based on the new car loan, and these car loans have 1 lakh of loan amount and 7 years tenure. There will be a used car when coming to the Used car loan, and the loan amount is 1 lakh with the 5 years tenure. Apart from these, the Loan against the car is used. In these loan against car, there is various type of car loans.

How to Apply for Paschim Banga Gramin Bank Car Loan?

  • You can apply for the Paschim Banga Gramin Bank by Dialabank.
  • After filling in, the details manager will contact you.
  • Then they will explain all the procedure related to car loans.
  • By applying with the dialabank, you can avail of the car loans easily.

 Tips for deciding the right amount of EMI

  • It would be best to tell the bank about the loan amount you are taking in the banks. In this way, you can avail the right amount of EMI.
  • And the expenses and the fees should be known.
  • You should also know the eligibility criteria.
  • Multiplier based calculations are also used in the banks.

Paschim Banga Gramin Bank car loan EMI – EMI changes in case of prepayment

  • If you want to repay the loan, then you need some of the penalties.
  • These penalties may range from 2-5%.
  • If you don’t want the penalties, you can increase the loan amount and decrease the EMI.
  • Or else increase the EMI and decrease the loan amount.

How to Calculate Paschim Banga Gramin Bank Car Loan EMI

Paschim Banga Gramin 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 Paschim Banga Gramin Bank Car Loan With Other Banks In India

FAQs for Paschim Banga Gramin 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 Paschim Banga Gramin Bank?

You can avail a Car Loan by using Dialabank.

✅ What is the Car Loan Interest Rates in the Paschim Banga Gramin Bank?

The Car Loan Interest Rates 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

Banks Car Loans has increase profits up to Rs.127 crores

The bank’s car loans have increased the profits up to Rs.127 crores. These profits are based on various factors like the Savings account, Fixed deposit, and different loans and the NEFT. Based on these the profits had increased to Rs.127 crores.

 

 

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