Used Car Loan Mandya

Best Banks for Used Car Loan in Mandya

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 Mandya Features

You can now enjoy the perk of a Used Car Loan Mandya, which delivers in the following features as stated below by Dialabank for you:

• Beginning from 12 months, we have flexible repayment plans planned for you.
• The readily payable instalments are prepared with handy and customized repayment strategies.
• Our highly-trained specialists to help choose a car that meets your needs for a personalised experience.
• You may also obtain up to 3-6 times your year-long pay which means 100% of the value of the car.
• Get loan amount for 5 years without income proof-verification up to 85% of the value of the car.
• Simple documentation for our clients who can now experience doorstep aid.
• Loan up to Rs 2.5 crore on the value of the car can be obtained by you.
• Maximum loan claim for 60 months given that the car at loan maturity phase should be a maximum of 10 years.

*Terms and Conditions Apply

Used Car Loan Mandya Interest Rates

Check latest interest rates of car loan at dialabank.

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

Used Car Loan Mandya Documents Required

These documents required for used car loan

For Salaried Individuals:

For Identity and Address Proof:

• Passport Copy
• A letter allotted by the National Population Register stating name and address
• Driving license
• Voters ID Card
• Job card granted by NREGA

For Income Proof:

• Latest Salary Slip is asked
• Bank Statements for the last six months
• Latest Form 16/ Latest Income Tax Return report

For Signature Verification Proof:

• Driving License
• Credit Card Statement and its Copy
• Verification of the banker
• Copy of margin cash paid to the Bank
• Passport Copy

For Self Employed**:

Income proof: Freshest ITR records and audited balance sheet with profit & loss account details.

Age and 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
• Verification of the banker
• Driving License Copy

For Address Proof:

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

**The subsequent companies are also applicable for a Used Car Loan Mandya:

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

Used Car Loan Mandya Eligibility Criteria

The eligibility criteria apply for used car loan as follows-:

Salaried Individual:

• Minimum Employment Practice: People having job experience for a minimum of 2 years and a minimum of 1 year with the current employer can apply.
• Minimum Earning: People earning a minimum of Rs. 2.5 lakhs yearly, the earnings of the spouse or mate can be recognised as added with the candidate’s income.
• Age Limit: People possessing the age of 21 years when demanding for the loan and a maximum of 60 years of age at the end of the loan maturity tenure.
• Professionals such as a doctor, CAs, a private or public limited company employee can apply for the loan.

Self Employed***:

• People who own a private company in the business of manufacturing, trading, or service establishments.
• Rs. 2.5 lakhs per year should be a minimum earning.
• People who have an office landline number.

***The following companies are also eligible for a Used Car Loan Mandya:

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

Used Car Loan for Major Car Manufacturers in Mandya

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Used Car Loan Mandya

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 Mandya

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

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Used Car Loan EMI Calculator Mandya

About Mandya

Mandya is positioned in the Indian state of Karnataka and is well-attached with railway and roadway routes.

Note-: Must check your cibil score before buying car loan at dialabank.

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