Used Car Loan Itanagar

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Used Car Loan Itanagar

Best Banks For Used Car Loan In Itanagar

Feature
HDFC Bank
ICICI 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 Itanagar Features

If you’re thinking of buying a used car and want to get a car on a loan, then you willUsed car loan Itanagar find all the details here. Since cars have become a necessity nowadays but the prices of cars are way too high. You can apply for a car loan for it. A car loan is a fund provided by banks that help them in buying a car, whether a new or used car. The application process is very simple and easy.

Some other features of car loan in Itanagar are:

  • The documentation process is hassle-free and easy.
  • One can avail of up to Rs.2.5 crore of the loan amount
  • Customized and convenient repayment plans are available with affordable EMIs
  • We provide doorstep service and quick documentation
  • Up to 85% of the value of the car as a loan amount for 5 years and that too without any income proof
  • You can get a car loan easily through Dialabank.

Used Car Loan Itanagar Interest Rates

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
ICICI 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 Itanagar Documents Required

An individual must check the documents required for car loan before deciding.

For Salaried Individual:

Any of the following documents as identity & Address Proof:

  • Valid Passport
  • Permanent Driving license [recent, legible, laminate]
  • Letter issued by the National Population Register containing details of name & address
  • Voters ID Card
  • Job card issued by NREGA

All the following documents as proof of income:

  • Latest Salary Slip
  • Latest Form 16/Latest ITR
  • Bank Statements for the previous 6 months

Any of the following for sign verification proof:

  • Credit Card Statement with Credit Card Copy
  • Banker’s Verification
  • Passport Copy
  • Photo Driving License with DOB (recent, legible, laminated)
  • Copy of Margin Money Paid to the Bank

For Self Employed:

Age proof: Memorandum and Articles of Association/Certificate of Incorporation.

Identity proof: Memorandum and Articles of Association/Certificate of Incorporation.

Income proof: Latest ITR and audited balance sheet along with profit & loss account.

Any of the following documents as address proof:

  • Telephone Bill
  • Memorandum and Articles of Association
  • Certification of Incorporation
  • Electricity Bill

Any of the following for sign verification proof:

  • Passport Copy
  • Credit Card Statement with Credit Card Copy
  • Banker’s Verification
  • Photo Driving License with DOB (recent, legible, laminated)
  • Copy of Margin Money Paid to the Bank.

Used Car Loan Itanagar Eligibility Criteria

An individual must examine the Eligibility criteria for car loan along with the process.

For Salaried Individual:

  • The applicants who are doctors, CAs, private limited company employees, employees from public sector undertakings including central, state, and local bodies are eligible.
  • Age Range: Individuals who are a minimum of 21 years of age when applying for the loan, and a maximum of 60 years of age at the end of the loan tenure
  • Minimum Work Experience: Individuals who at least have had a job for 2 years, with a minimum of 1 year with the present employer.
  • Minimum Earning: Those who earn a minimum of Rs. 2,50,000 per year., The income of the spouse can be considered as one with the applicant’s income.

For Self Employed:

  • This includes individuals who own a private company in the business of manufacturing, trading, or services
  • Rs. 2,50,000 per annum should be a minimum earning.
  • Individuals who have an office landline.

The following type of firms are also eligible for a Used Car Loan Itanagar:

  1. Sole Proprietorship
  2. Partnership Firms
  3. Private Limited Companies
  4. Public Limited Companies

Used Car Loan For Major Car Manufacturers In Itanagar

TABLE WILL APPEAR

Processing Fees / Prepayment Charges On Used Car Loan In Itanagar

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
>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 Itanagar

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

Used Car Loan EMI Calculator