Used Car Loan Machhiwara

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Buy Your Dream Car

Rates as low as 13.60%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

Best Banks for Used Car Loan in Machhiwara

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 Machhiwara FeaturesUsed Car Loan Machhiwara

A Used Car Loan Machhiwara can serve as a saviour for all those seeking most services of the below-mentioned features with Dialabank:

  • Vehicle at credit development age will not surpass 10 years, with a most extreme advance residency of 60 months.
  • Enjoy doorstep policy and simple documentation for our clients.
  • Adjustable payment tenures beginning from a year to facilitate the weight.
  • Customized help and warning by our exceptionally prepared specialists to pick a vehicle that meets your needs.
  • Get 85% of the estimation of the vehicle as a credit sum for a long time without pay confirmation check.
  • You can get a credit up to Rs 2.5 crore on the said worth of the car.
  • Helpful and tweaked repayment plans accessible with the easily payable parts
  • You may likewise acquire up to 100% estimation of the vehicle to the estimation of 3-6 times your yearly compensation.

*Terms and Conditions Apply

Used Car Loan Machhiwara 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 Personal Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates

Used Car Loan Machhiwara Documents Required

For Salaried Individuals:

For Identity and Address Proof:

  • Passport
  • Driving license
  • Letter allotted by the National Population Register mentioning name & address
  • Voters ID Card
  • Job card given to you by NREGA

For Income Proof:

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

For Signature Verification Proof:

  • Photo Driving License
  • Credit Card Statement and its Copy
  • Banker’s Verification
  • Copy of Margin Money Paid to Bank
  • Passport Copy

For Self Employed**:

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

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

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

For Sign Verification Proof:

  • Credit Card Statement and its Copy
  • Copy of Margin Money Paid to Bank.
  • Passport Copy
  • Banker’s Verification
  • Photo Driving License

For Address Proof:

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

**The following companies are also applicable for a Used Car Loan Machhiwara:

  • Sole Proprietorship
  • Partnership Firms
  • Private Limited Companies
  • Public Limited Companies

Used Car Loan Machhiwara Eligibility Criteria

The following people are eligible to apply for a Pre-Owned Car Loan in Machhiwara:

Salaried Individual:

  • Minimum Work Experience: People with job experience for a minimum of 2 years and a minimum of 1 year with the current employer.
  • Minimum Earning: People earning a minimum of Rs. 2.5 lakhs yearly, the income of the spouse can be considered as included with the candidate’s income.
  • Age Limit: People having the age of 21 years when applying for the loan, and a maximum of 60 years of age at the end of the loan maturity period.
  • Professionals- a doctor, CAs, private limited company employee, employees from public sector undertakings including central, state, and local bodies.

Self Employed***:

  • Owners of a private company in manufacturing, trading, or service undertakings.
  • Rs. 2.5 lakhs per year should be a minimum remuneration.
  • Individuals who have an office landline number.

***The following firms are also eligible for a Used Car Loan Machhiwara:

  • Sole Proprietorship
  • Partnership Firms
  • Public Limited Companies
  • Private Limited Companies

Used Car Loan for Major Car Manufacturers in Machhiwara

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Used Car Loan Machhiwara

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
ucl_processing_fees

Pre Calculated EMI Table for Used Car Loan Machhiwara

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 Machhiwara

About Machhiwara

Machhiwara is an old city named after Sri Machhiwara Sahib recognised for Gurudwara Sri Charan Kanwal Sahib, located in the Punjab state of India.

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