Used Car Loan Hamirpur

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Best Banks for Used Car Loan in Hamirpur

Feature	HDFC Bank	Private Bank	Kotak Mahindra Bank
Interest Rate	8% - 8.4 %	8.5 - 9.5 %	11%
Min Loan Amt	Metro : 1 Lac & Non Metro: 75000	75000	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	Nil
Loan to Value (LTV)	Upto 100% on Ex- showroom	Upto 95% on Ex- showroom	Upto 90% on Ex- showroom

Used Car Loan Hamirpur Features

Availability of personalized and accessible EMI pocket-friendly repayment services
Used Car Loans are provided in Hamirpur by almost all major banks and NBFCs
The documentation process is fast and effortless
Used car loans are easy to get through DialaBank

Used Car Loan Hamirpur 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	1%	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 Hamirpur Documents Required

Documents required for car loan are as followed:

For Salaried:-

Identity and proof of residence: Valid Passport, Voter ID Card, Permanent Driving License, Work Card, Letter issued by the National Register of Citizens
Latest Salary Slip, Latest Form 16 / Latest ITR, Bank statement of the last 6 months, (Income proof)
Evidence of signature: Passport Copy, DOB Photo Driving License, Credit Card Declaration with Credit Card Copy, Banker Verification

For Self Employed:-

Age verification, the requisite records are also Memorandum Articles of Association / Certificate of Incorporation
Proof of identity, the requisite documents are also Memorandum Articles of Association / Certificate of Incorporation
Income Evidence, the latest ITR and balance sheet with profit and loss statement are conditional
Address Proof Documents: Memorandum of Association and Papers, Certificate of Incorporation, Telephone Bill, Electricity Bill
Evidence of Sign Verification: Passport Copy, Photo Driving Permit with DOB, Credit Card Statement, Confirmation of BankerApply for a car loan

Used Car Loan Hamirpur Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried:-

Minimum age: 21 years
Maximum age at loan maturity: 60 years
Minimum employment: 1 year in current employment and a minimum of 2 years of employment
Minimum Annual Income: Rs 2,50,000 net annual income with spousal income

For Self-Employed:-

Minimum age: 25 years
Maximum age at loan maturity: 65 years
Minimum employment: at smallest 3 years in sales
Minimum Annual Income: Net profit Rs. 2,50,000

Used Car Loan for Major Used Car Manufacturers in Hamirpur

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Used Car Loan Hamirpur

Category	Details
Processing Charges	1999 - 4999 + Tax
Prepayment	No prepayment is allowed until 12 EMIs are paid
Preclosure	No foreclosure is allowed until 12 EMIs are paid
Prepayment Charges	13-24 months: 2% of loan principal outstanding
Prepayment Charges	>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 Hamirpur

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

You can calculate your EMI here: Car Loan EMI Calculator

About Hamirpur

Hamirpur is a fast-developing City with New Entrepreneurship and Modern Construction at Himachal Pradesh. It is also a major junction on National Highway 3, while National Highway 103 begins here. Hamirpur is renowned for its high degree of literacy, educational institutions, and Hamir Utsav Traditional Festival.