Used Car Loan Ooty

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Used Car Loan Ooty

 

Best Banks For Used Car Loan In used Car Loan OotyOoty

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 Ooty Features-

  1. You can simply opt for a used car loan 0oty at low-interest by availing of custom and convenient repayment plans with easy pay EMIs.
  2. Now Get the best out of the best-used car loan to simply remove all your financial hurdles while buying a pre-owned vehicle!
  3. One can avail of up to Rs.2.5 crore of loan amount by getting approximately 3 to 6 times your annual income as well as can borrow up to 100% of the value of the car*

Some other amazing used car loan 0oty features include:

  1. Easy and fast pickup services of the documents from your doorstep.
  2. Hurdle and complex free process.
  3. Quick and fast loan approvals and disbursals.
  4. Get Up to 85% of the value of the car as a loan amount for 5 years and that too without any income proof.

*Age of Car should not cross 10 years at loan maturity. The maximum loan tenure of 60 months is available with flexible repayment tenures from 12 months to 60 months.

Terms & conditions apply, offers on specific models only.

Visit Dialabank to know more about Used Car Loan 0oty.

Used Car Loan Ooty 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
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 Ooty Documents Required

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

If You Are Salaried Individual:

Any of the following documents as identity & Address Proof:

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

All the following documents as proof of income:

  1. Latest Salary Slip
  2. Latest Form 16/Latest ITR
  3. Bank Statements for the previous 6 months

Any of the following for sign verification proof:

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

If You Are Self Employed**.

  1. Identity proof: Memorandum and Articles of Association/Certificate of Incorporation.
  2. Income proof: Latest ITR and audited balance sheet along with profit & loss account.
  3. Age proof: Memorandum and Articles of Association/Certificate of Incorporation.

Any of the following documents as address proof:

  1. Telephone Bill
  2. Memorandum and Articles of Association
  3. Certification of Incorporation
  4. Electricity Bill

Any of the following for sign verification proof:

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

**The following type of companies can also apply for a Used Car Loan 0oty:

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

Used Car Loan Ooty Eligibility Criteria


An individual must fulfil the Eligibility criteria for car loan to avail of the loan amount.

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

For Salaried Individual:

  1. The applicant must be: Who is a doctor, CAs, private limited company employee, employees from public sector undertakings including central, state, and local bodies.
  2. 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
  3. Minimum Work Experience: Individuals who at least have had a job for 2 years, with a minimum of 1 year with the present employer.
  4. 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***:

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

***The following type of companies are also eligible for a Used Car Loan 0oty:

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

Used Car Loan For Major Car Manufacturers In Ooty

TABLE WILL APPEAR

Processing Fees / Prepayment Charges On Used Car Loan In Ooty

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 Ooty

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

About Ooty-

Ooty, officially known as Udagamandalam is a town and a municipality in the Nilgiris district of the Indian state of Tamil Nadu. It is located 86 km north of Coimbatore and 128 km south of Mysore and is the headquarters of the Nilgiris district. It is a popular hill station located in the Nilgiri hills. Residents call it Queen of Hills.

Originally occupied by the Toda people, the area came under the rule of the East India Company at the end of the 18th century. The economy is based on tourism and agriculture, along with the manufacture of medicines and photographic film. The town is connected by the Nilgiri ghat roads and Nilgiri Mountain Railway. Its natural environment attracts tourists and it is a popular summer destination. In 2011, the town had a population of 88,430. Ooty is well connected to the road network. Bus services operated by TNSTC, KSRTC, and KSRTC (Kerala) connect major towns in the state, nearby towns in the district such as Coonoor about 18 km, Kotagiri about 31 km, and Gudalur about 50 km and nearby cities to Mysore, Bangalore, Gudalpet, Mandya, Hassan, Malappuram, Wayanad, Calicut & Kannur.