Used Car Loan Chatra

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Used Car Loan Chatra

Best Banks for Used Car Loan Chatra

Private Bank
Kotak Mahindra Bank
Interest Rate
8% - 8.4 %
8.5 - 9.5 %
Min Loan Amt
Metro : 1 Lac & Non Metro: 75000
Max Loan Amt
1 Cr
1 Cr
1 Cr
Loan Tenure
Upto 7 Years
Upto 5 Years
Upto 5 Years
Processing Fee
1999 - 4999 + Tax
0.25% to 1.50%
0.25% to 1.50%
Preclosure Chgs
2%, Nil after 24 months
2%, Nil after 36 months
Loan to Value (LTV)
Upto 100% on Ex- showroom
Upto 95% on Ex- showroom
Upto 90% on Ex- showroom

Used Car Loan Chatra Features

Used Car Loan Chatra

Are you looking for trouble-free finances for your dream car but hesitate due to complex documentation?

Don’t worry! with Dialabank a Used Car Loan is the simplest. Approve your Used Car Loan Chatra most simply and make your desire of owning a car come true with Dialabank.

With Dialabank you are just a few steps away from availing a Used Car Loan in your city without stressing over unnecessary formalities.

With the easiest loan approval and processing, the desire to own a car is no more forbidden. So what are waiting for? Get the car of your choice in a few easy steps with attractive deals in your city.

  • Avail Used Car Loans up to 2.5 crores on a wide range of used cars.
  • Personalized help to get the used car of your choice from research to loan processing.
  • Flexible loan tenure ranging from 12 months to 84 months.
  • You get choose your repayment plan at your convenience.
  • Doorstep service with simple documentation.
  • Transparent and hassle-free loan processing.
  • Track your application anytime, anywhere. Get status updates about your loan application at every stage of the loan processing.

Used Car Loan Chatra Interest Rate

Bank Processing Fee
Prepayment Charges
HDFC Bank Car Loan (1999 - 4999) + Tax
2%, Nil foreclosure charges after 24 months
Axis Bank Car Loan 1 % to 2.50% Nil
Private Bank Car Loan 0.25% to 1.50%
2%, Nil foreclosure charges after 36 months
SBI Car Loan 500/- to 0.50% Nil
Kotak Car Loan 1% to 2%
2.25% of fore closure amount if closed 1 month ahead of the tenure.
IIFL Car Loan Nil Nil
Muthoot Car Loan Nil Nil
Manappauram Car Loan Nil Nil
PNB Car Loan 0.70% to 1% Nil
Canara Bank Car Loan 0.01 Nil
Andhra Bank Car Loan Nil Nil

To check Car Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates

Apply for a Car Loan

Used Car Loan Chatra Documents Required

Required papers for Used Car Loan Chatra:

Salaried Individuals:

  1. Proof of address and identity can be any of the following:
  • Valid Passport
  • A Permanent Driving license [recent, legible, laminate]
  • Voters ID Card
  • Job card issued by NREGA
  • Letter issued by the National Population Register containing details of name & address of the applicant

2. Proof of income can be any of the following:

  • Latest Salary Slip
  • Latest Form 16

3. For signature verification any of the following can be applied:

  • The Passport Copy
  • Photo Driving License with DOB (recent, legible, laminated)
  • Credit Card Statement with Credit Card Copy
  • Banker’s Verification

Self-employed Individual

  1. Address proof can be any of the following:
  • The Memorandum and articles of association
  • Electricity Bill
  • Telephone Bill
  • Certificate of incorporation

2. For address verification any of the following can be used:

Passport copy/ driving license copy with DOB/ Credit card statement with credit card copy/ Banker’s verification / Copy of Margin money paid to the bank.

3. Memorandum and Articles of Association/Certificate of Incorporation as age proof of the applicant.

4. Memorandum and Articles of Association/Certificate of Incorporation as identity proof.

5. The Latest ITR and audited balance sheet along with profit & loss account as proof of income.

Used Car Loan Chatra Eligibility Criteria

Compulsory criteria for availing Used Car Loan Chatra:

Salaried Individuals:

  1. The applicant must be an employee of  the Pvt. Ltd. company, doctor, CA, lawyer, public sector undertaking that includes local, state, or central bodies.
  2. The applicant should be of a minimum of 21 years of age while applying for a loan and a maximum of 60 at the time of tenure closure of the loan.
  3. An employment experience of 2 years in any company along with documented proof of 1-year employment in the current company.
  4. The income criteria are the individual should earn a minimum of 2,50,000 per annum inclusive of the spouse’s earning is mandatory for Used Car Loan Chatra.

Self Employed Individuals:

  1. The applicant must be the sole proprietor of the organization that he/she operates.
  2. Should earn at any rate Rs. 2,50,000 for every annum.
  3. The individuals should have either a residence or a company’s telephone line.

Used Car Loan for Major Car Manufacturers in Chatra


Processing Fees / Prepayment Charges on Used Car Loan Chatra

Category Details
Processing Charges
1999 - 4999 + Tax
No prepayment is allowed until 12 EMIs are paid
No foreclosure is allowed until 12 EMIs are paid
Prepayment Charges
13-24 months: 2% of loan principal outstanding
>36 months: Nil Charges
Stamp Duty
As per state laws
Cheque Bounce Chgs
₹ 550/chq + GST
Floating Rate of Interest Not Applicable
Overdue EMI Interest
2% p.m.(on overdue amount)
Amortisation Schedule Chgs Rs 200 + GST

Pre Calculated EMI Table for Used Car Loan Chatra

Rate 5 Yrs 4 Yrs 3 Yrs
10.50% 2149 2560 3250
11.00% 2174 2584 3273
11.50% 2199 2608 3297
12.00% 2224 2633 3321
12.50% 2249 2658 3345
13.00% 2275 2682 3369
13.50% 2300 2707 3393
14.00% 2326 2732 3417
14.50% 2352 2757 3442
15.00% 2378 2783 3466

Used Car Loan EMI Calculator

check CIBIL Score for car loan.

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