Used Car Loan Trichur

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Best Banks for Used Car Loan in Trichur

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 Trichur Features

If you want to buy a new car but don’t have the required funds for it, then don’t worry, you’re in the right place now.  A car loan is here for you. You can get a car loanUsed Car Loan Trichur at an affordable rate of interest in buying a car, whether new or used. Since cars have become very expensive these days and not everyone can afford it. This is where a car loan comes into play and you can get your favorite car. The main features of a car loan in Trichur are:

  • Avail of loans on a wide range of used cars at low-interest rates
  • Almost all major banks and NBFCs offer car loans in Trichur
  • Experience hassle-free processing and quick approvals
  • Car loans are easily available through DialaBank

Used Car Loan Trichur 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 Personal Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates

Used Car Loan Trichur Documents Required

For Salaried:

    Documents required for Identity & Address Proof:-

  • Valid passport
  • permanent driving license (recent, legible, laminate)
  • Letter issued by the National Population containing details of name and address
  • Voters ID card
  • Job card issued by NREGA

    Documents required for Income Proof:-

  • Salary slip(Latest)
  • Latest 16/Latest ITR
  • Last 6 months bank statement

    Documents required for Sign verification Proof:-

  • Passport copy
  • Photo Driving License with DOB(recent, legible, laminated)
  • Banker’s verification
  • Copy of Margin Money paid to the bank
  • Credit Card Statement with Credit card copy

For Self Employed:

  • For age proof Memorandum and Articles of Association/Certificate of Incorporation is required
  •  For identity proof Memorandum and Articles of Association/Certificate of Incorporation is required
  • As a proof of income, Latest ITR and audited balance sheet along with profit & loss account is required

The following documents are required for address proof:

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

The following Documents are required for sign verification proof:

  • Passport copy
  • Photo Driving License with DOB (recent, legible, laminated)
  • Banker’s verification
  • Copy of Margin Money Paid to the Bank
  • Also, the used car loan can be borrowed in the following type of firms as well:
    • Partnership Firms
    • Sole Proprietorship
    • Public Limited Companies

Used Car Loan Trichur Eligibility Criteria

For Salaried:-

  1. Minimum age of candidate:- 21 years
  2. Maximum age of candidate at loan maturity:-60 years
  3. Individuals who have had a job for at least 2 years, with a minimum of 1 year with the current employer are eligible
  4. Minimum Annual Income should be:- Rs 2,50,000
  5. Doctors, CAs, employees of private limited companies, employees from public sector undertakings, including central, state, and local bodies are also eligible

For Self-Employed:-

  1. Minimum age of candidate:-21 years
  2. Maximum age at loan maturity of the candidate:-60 years
  3. Individuals who have been in business for a minimum of 3 years are eligible
  4. Minimum annual income:-Rs 2,50,000 per anum
  5. This includes individuals  who own a private company in the business of manufacturing, trading, or services

Used Car Loan for Major Car Manufacturers in Trichur

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Used Car Loan Trichur

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
ucl_processing_fees

CIBIL Score Required for Used Car Loan in Trichur

The CIBIL score is referred to as what defines your ability to pay off your credits. A higher credit score means good credit history and makes your car loan application process smooth and easy to be processed. Mostly, banks and NBFCs consider a credit score of 720 and above as a good score to approve your loan application process Trichur.

This score may again vary from bank to bank. In case of a low CIBIL score than the required value, you will be required to pay a high rate interest rate on the loan amount while if your CIBIL score is good then you may have to pay a low rate of interest. Thus, a CIBIL score is an important factor in a car loan.

Used Car Loan Trichur Contact Number

In case of any queries regarding the car loan in Trichur, you may contact on the number 9878981166 for any sort of assistance.

Pre Calculated EMI Table for Car Loan Trichur

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

About Trichur

Trichur, also known by its former name Trissur, is a city and the headquarters of the Thrissur district in Kerala, India. It is the third-largest urban agglomeration in Kerala after Kochi and Calicut urban areas and the 20th largest in India. It is famous for the Thrissur Pooram festival.

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