Used Car Loan Simdega

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Rates as low as 11.99%*
Up to 100% Funding
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Used Car Loan Simdega

Best Banks for Used Car Loan in Simdega

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 Simdega FeaturesUsed Car Loan Simdega

A Used Car Loan Simdega can help you buy a car falling within your pocket as it is is financial assistance offered by commercial banks and NBFCs to their customers.

Some of the features of Used Car Loan Simdega are mentioned below:

  • Flexible repayment tenures starting from twelve months to ease the burden.
  • Car at loan maturity age shall not exceed ten years, with a maximum loan tenure of sixty months.
  • Personalized advisory by our highly trained experts to help you choose a car that meets your wants.

*Terms and Conditions Apply

Dialabank present the best offers for a pre-owned car loan to purchase the said car anywhere in Simdega!

Used Car Loan Simdega 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 Simdega Documents Required

For Salaried Individuals:

For Identity and Address Proof:

  • Valid Passport
  • Permanent Driving license
  • Letter issued by the National Population Register mentioning name and address
  • Voters ID Card
  • Job card provided to you by NREGA

For Income Proof:

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

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**:

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

Age verification 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
  • 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 Simdega:

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

Used Car Loan Simdega Eligibility Criteria

The following people are eligible to apply for a pre-owned car loan in Simdega city:

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.
  • 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.
  • Professional practitioners Doctors, CAs, Private Limited Company and Public Sector Undertaking employees including central, state, and local bodies, such candidates are eligible.

Self Employed***:

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

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

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

Used Car Loan for Major Car Manufacturers in Simdega


Processing Fees / Prepayment Charges on Used Car Loan Simdega

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

Pre Calculated EMI Table for Used Car Loan Simdega

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 Simdega

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About Simdega

Simdega is a city in the Indian state of Jharkhand and is the administrative headquarters of the eponymous district. The place is culturally an amalgamation of indigenous with its maximum influence of Odia culture is significant in the area and the populace.

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