Used Car Loan Raisen

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Used Car Loan Raisen

Best Banks for Used Car Loan in Raisen

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 LoanUsed Car Loan Raisen Raisen Features

A Used Car Loan Raisen can be availed by the people who are intending to buy a pre-owned car.

The features of Used Car Loan Raisen include:

  • Availability of 85% value of the car as a loan amount for five years without income proof.
  • You can avail a loan up to Rs.2.5 crore on pre-owned car’s worth.
  • Enjoy doorstep service and easy documentation facilities offered by DialaBank.
  • It is important to check and maintain cibil score.

*Terms and Conditions Apply

DialaBank brings in various easy-on-pocket loans with the most feasible interest rates in Raisen city.

Used Car Loan Raisen Interest Rates

Given below are details on car loan interest rate

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 Raisen Documents Required

Below are the documents required for car loan

For Salaried Individuals:

For Identity and Address Proof:

  • Passport
  • Driving license
  • The letter assigned by National Population Register mentioning name & address
  • Voters ID Card
  • Job card provided 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
  • Passport Copy
  • Credit Card Statement and its Copy
  • Banker’s Verification
  • Copy of Margin Money Paid to Bank

For Self Employed**:

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

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

Age verification 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 verification Proof:

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

**The companies applying for a Used Car Loan Raisen can be any of the following:

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

Used Car Loan Raisen Eligibility Criteria

The eligibility criteria for car loan is described below. The people eligible to apply for a Pre-Owned Car Loan in Raisen can be any of the following:

Salaried Individual:

  • Minimum Job Experience: Individuals with a minimum of 2 years as total job experience and a minimum of 1 year with the current employer, can apply for a used car loan.
  • Professional practitioners: Private and public limited company employees including central, state and local governing bodies, Doctors and CAs, can apply for a used car loan.
  • Minimum Earning Capacity: The people earning a minimum of Rs. 2,50,000 on yearly basis, including the income of the spouse, can apply for a used car loan.
  • Age Limit: People qualifying a least of 21 years of age when seeking for the credit, and a maximum of 60 years of age at the closure of the loan maturity period are eligible.

Self Employed***:

  • People who own a private organisation in the market of manufacturing, buying and selling, or service sectors.
  • Rs. 2,50,000 per year should be a minimum remuneration should be received by you.
  • Individuals who have provided us with an office landline number.

***The companies eligible for a Used Car Loan Raisen can be any of the following:

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

Used Car Loan for Major Car Manufacturers in Raisen

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Used Car Loan Raisen

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 Raisen

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 Raisen

Car Loan EMI Calculator Online.

About Raisen

Raisen is a city famous for Raisen fort, Dargah, and Sanchi Stupa acquires its name from a large fort at the tip of a mountain, the leading international university located at Sanchi Town of the Madhya Pradesh of India.

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