Used Car Loan Palampur

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Rates as low as 11.99%*
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Used Car Loan Palampur

[Best Banks for Used Car Loan in Palampur

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

Used Car Loan Palampur FeaturesUsed Car loan Palampur

A Used Car Loan Palampur might be a step out to acquire the best car falling within your budget and is a financial aid offered by various banks and NBFCs.

The features of Used Car Loan Palampur city are mentioned below:

  • Personalized help by our high expertise representatives to choose a car to satisfy your wants.
  • Car loan maturity age shall not exceed ten years, with a maximum loan tenure of sixty months.
  • Easy repayment tenures starting from twelve months to ease your burden at low car loan interest rate.

Dialabank present before you some of our best proposals to obtain a used car in Palampur city!

*Terms and Conditions Apply

Used Car Loan Palampur Interest Rates

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%
ICICI Bank Car Loan
0.25% to 1.50%
2%, Nil foreclosure charges after 36 months
SBI Car Loan
500/- to 0.50%
Kotak Car Loan
1% to 2%
2.25% of fore closure amount if closed 1 month ahead of the tenure.
IIFL Car Loan
Muthoot Car Loan
Manappauram Car Loan
PNB Car Loan
0.70% to 1%
Canara Bank Car Loan
Andhra Bank Car Loan


To check Car Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates

Used Car Loan Palampur Documents Required

For Salaried Individuals:

For Income Proof:

  • Latest Salary Slip
  • Bank Statements for the last 6 months
  • Latest Form 16/ Latest Income Tax Return records

For Identity and Address Proof:

  • Valid Passport
  • Permanent Driving license
  • Letter issued via National Population Register stating name & address
  • Voters Identification Card
  • Job card provided by NREGA

For Signature Proof:

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

For Self Employed**:

Documents required for the car loan are as follows as –

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

Remuneration proof: Latest Income Tax Return record and audited balance sheet with profit & loss account.

For Sign Verification Proof:

  • Credit Card Statement and its Copy
  • Copy of marginal cash given to the 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 below-mentioned firms are also applicable for a Used Car Loan Palampur:

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

Used Car Loan Palampur Eligibility Criteria

The people who are eligible to apply for a pre-owned car loan in Palampur are:

Salaried Individual:

  • Minimum Remuneration: A minimum of Rs. 2,50,000 per year including the income of the spouse can be considered as eligible for a used car loan.One should also check CIBIL score. 
  • Professional practitioners Doctors, CAs, Private Limited Company and Public Sector Undertaking employees including central, state, and local bodies, such candidates are eligible.
  • Minimum Experience: A job experience for a minimum of 2 years and a minimum of 1 year with the current employer, such candidates are eligible.
  • Age Limit: 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 maturity period, such candidates are eligible.

Self Employed***:

  • Rs. 2,50,000 per year should be the least pay received by you as an earning.
  • Individuals owning a Private Limited Company serving the manufacturing, trading, or service sectors.
  • Individuals who have provided an office landline number.

***The companies which are also eligible for a Used Car Loan in Palampur city are:

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

Used Car Loan for Major Car Manufacturers in Palampur


Processing Fees / Prepayment Charges on Used Car Loan Palampur

Category Details
Processing Charges
1999 - 4999 + Tax
No prepayment is allowed until 12 EMIs are paid
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

Apply for a Car Loan

Pre Calculated EMI Table for Used Car Loan Palampur

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 Palampur

About Palampur

Palampur is encircled by pine forests in the Kangra Valley in the Himachal Pradesh state of India. The perfect scenic beauty blend of greenery and water gives the place an artistic look, with diverse rivers running from the hills to the meadows.

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