Survoday Small Finance Bank Car Loan

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Survoday Small Finance Bank Car Loan

Survoday Small Finance Bank Car Loan Key Features – 2021

Survoday Small Finance  Bank Car Loan Interest Rate

7.35% per annum

Min Loan Amount ₹ 100,000
Max Loan Amount
(Loan to Value)
Loan up to Rs. 5 Lakhs
Loan Tenure 1 year to 7 years
Lowest EMI / Lac ₹ 2,353
Minimum Net Monthly Income ₹ 20,000
Minimum ITR for Self Employed ₹ 300,000
Age Criteria Salaried: 21 years to 60  years
Self Employed: 21 years to 60 years
Types of Cars For All New Passenger Cars, Multi Utility Vehicles (MUVs), and Sport Utility Vehicle (SUVs).
Processing Fee 0.40% of the principal amount
Foreclosure Charges NIL
Basic Documentation ID Proof, Address Proof, Salary Slip, Bank Statement, and Car Quotation

About Survoday Small Finance Bank Car Loan 

Suryoday Small Finance Bank is a new age bank that went live on January 23rd, 2017. We endeavour to bring the best banking solutions to the ‘banked’, ‘under-banked, and the ‘unbanked sections of society. Our power-packed solutions are designed to offer the choicest of benefits to suit different financial needs. Our focus will always be on ensuring the best in class ‘Customer Experience’.

Advantages of Survoday Small Finance Bank Car Loan

Survoday Small Finance Bank Car Loan

  • Higher Loan Amount: Banks offer you a car loan of up to 80-100% of the car’s on-road price in case of new vehicles. The vehicle’s on-road price includes the ex-showroom price, state government tax, and vehicle insurance cost.
  • No Need to Liquidate your Investments: If you avail of the car loan, there is no need to liquidate the investments you have made for other purposes.
  • Flexible Tenure: You can go for any loan repayment tenure ranging from 1 year to 7 years according to your choice.
  • Tax Benefits: A car Loan can help you save on tax if you are a self-employed person/ businessman and use the car for legitimate business purposes. If you are a self-employed person/ businessman, you can claim the interest paid on a car loan as a business expense. In this way, your taxable income will be reduced by the interest you have paid in a financial year on a car loan.

Survoday Small Finance Bank Car Loan Eligibility

Salaried Individual
  • Age – 21-70 years of age
  • Net Monthly Income – should be a minimum of ₹ 20,000
  • Employment Duration – Minimum 1 year
  • Income Eligibility – Depends on Form 16 and Salary Slip
Self-Employed Individuals
  • Age – 21-75 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

Survoday Small Finance Bank (CUB) Car Loan Interest Rate, Fees and Charges

Charges New Car Loan Used Car Loan
Interest Rate

7.35% per annum

14.50% p.a.
Processing fee 0.40% of the principal amount Up to 1.25% of the loan amount
Issuance of Duplicate Repayment Schedule Charges Rs.500 per instance Rs.500 per instance
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 Rs.500 per instance Rs.500 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.200 per instance Rs.200 per instance
Cheque Bounce/Instrument Return Charges Rs.500 per instance Rs.500 per instance
Issuance of Duplicate Statement Charges Rs.500 per instance Rs.500 per instance
Loan Cancellation/Re-booking Charges Rs.2,500 per instance Rs.2,500 per instance
Issuance of Credit Report Rs.50 per instance Rs.50 per instance

Survoday Small Finance 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 License
Aadhaar Card
Passport
PAN
Voter ID
Address Proof (Any 1) Driving License
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.

Survoday Small Finance Bank Car Loan EMI Calculator

An applier has the option to know the EMI’s before availing of a Car Loan. Thus, you can quickly know the EMIs through the link below:

Car Loan EMI Calculator

Survoday Small Finance Bank Car Loan Types

Survoday Small Finance Bank offers different types of car loans to its customers. Therefore, you have the choice of choosing the offer which suits your need the best. It provides the following types of Car Loans:

  1. New Car Loan –  If you want to buy a new car, this is the scheme for you. You can take J and K Grameen Bank Bank Car Loan for a minimum of Rs. 1 lakh and a minimum tenure of 7 years.
  2. Used Car Loan – If you want to buy a used car, you can choose this scheme that offers a minimum loan of Rs. 1 lakh and a minimum tenure of 5 years.
  3. Loan Against Car – You can choose this scheme if you require urgent funds to keep your cars as collateral with the bank.

How to Apply for Survoday Small Finance Bank Car Loan?

  1. Visit Dialabank and fill a form.
  2. Our Relationship Manager will call you and guide you throughout the process.
  3. You can compare different offers from banks and opt for the one which suits your needs.
  4. Thus,  you can easily apply for a Car Loan through Dialabank and enjoy the best offers.

FAQs for Survoday Small Finance Bank Car Loan

✅ What is Survoday Small Finance Bank Car Loan?

Survoday Small Finance Bank Car Loan is a financial product offered for buying a car, whether a new or used one.

✅ How can I get a Car Loan from Survoday Small Finance Bank?

You can avail of a car loan from Survoday Small Finance Bank by visiting the nearest branch of Survoday Small Finance  Bank. You will get satisfaction to apply from anywhere and get car loan approval faster.

✅ How does Survoday Small Finance Bank Car Loan work?

Survoday Small Finance Bank offers car loans at attractive interest rates. You can get a car loan easily and quickly. In addition, Survoday Small Finance Bank provides flexible loan tenure duration.

✅ What is the Car Loan Interest Rate in Survoday Small Finance Bank?

The interest rate charged by Survoday Small Finance bank for a car loan starts at

7.35% per annum

.

✅ How to Check Car Loan status in Survoday Small Finance Bank Bank?

You must visit the Survoday Small Finance Bank branch to check your car loan status. Also, you can use the net-banking facility of J and K Grameen Bank.

✅ How to Calculate Car Loan interest in Survoday Small Finance Bank?

For the calculation of your car loan interest in Survoday Small Finance Bank, the information required is:

  • Loan tenure
  • Loan amount
  • Interest rate

You can calculate car loan interest and EMI for Survoday Small Finance Bank using the Emi Calculator.

✅ What is the maximum loan amount I can avail myself of on a Car Loan from Survoday Small Finance Bank?

You can avail a maximum loan amount for a car loan from Survoday Small Finance Bank is up to Rs. 5 lakhs.

✅ What is the loan tenure of Survoday Small Finance Bank Car Loan?

The loan tenure duration for a car loan from Survoday Small Finance Bank ranges from 1 to 7 years.

✅ Can I get a 100% Car Loan from Survoday Small Finance Bank?

You can get a loan up to Rs. 5 lakhs for a car loan from Survoday Small Finance Bank. To avail of a 100% Car loan, you must visit the online platform of Dialabank.

✅ How much is the processing fee applicable on  Survoday Small Finance Bank Car Loan?

Survoday Small Finance Bank charged a processing fee is 0.40% of the principal amount for getting a car loan.

✅ What are the EMI options available on Survoday Small Finance Bank Car Loan?

Your car loan EMIs are automatically subtracted from your bank account. Also, you can pay your car loan EMI through the net banking facility of Survoday Small Finance Bank. Also, pay using post-dated cheques.

✅ What are the charges for Prepayment in Survoday Small Finance Bank Car Loan?

Survoday Small Finance Bank does not have prepayment charges for availing of a car loan.

✅ Can I get a top-up loan on my existing Survoday Small Finance Bank Car Loan?

Yes, you can get a top-up loan on your existing Survoday Small Finance Bank car loan. Also, get a top-up car loan by visiting the online platform of Dialabank.

✅ Do I need to provide a guarantor to avail a car loan from Survoday Small Finance Bank?

Yes, you can avail yourself of a guarantor for getting a car loan from Survoday Small Finance Bank. In addition, it will increase your car loan eligibility.

✅ What is the Survoday Small Finance Bank Car Loan Customer Care Number?

The customer care number of Survoday Small Finance Bank Bank for car loan queries is 9878981166.

✅ How can I get NOC from Survoday Small Finance Bank for a car loan?

You can get a car loan NOC from Survoday Small Finance Bank to pay your outstanding loan amount.

✅ What is the Survoday Small Finance Bank Car Loan closure procedure?

  • Just go to the bank with the documents.
  • Write a letter for pre-closure of the Survoday Small Finance Bank Car Loan account.
  • Pay the pre-closure charges as per Survoday Small Finance Bank Car Loan.

✅ What is Survoday Small Finance Bank Bank Car Loan preclosure charges?

Survoday Small Finance Bank Car Loan preclosure charges are zero.

✅ What is Survoday Small Finance Bank Car Loan maximum tenure?

The Survoday Small Finance Bank Car Loan maximum tenure is 7 years.

✅ What is Survoday Small Finance Bank Car Loan minimum tenure?

The Survoday Small Finance Bank Car Loan minimum tenure is 1 year.

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