Used Car Loan Wardha

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Used Car Loan Wardha

Best Banks For Used Car Loan In Wardha

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 Wardha Features

Thinking about getting a car? But don’t have enough funds for it? You can always go for a used car when you run out of budget. You can also go for a car loan to get a car. A car loan will surely help you own a car of your choice that too at budget-friendly EMIs. You can even get a car loan on used cars or pre-owned cars.
used car loan wardha

The main feature of car loan in Wardha are:

  • Car loans are available at a low-rate of interest.
  • Almost all major banks provide car loans in Wardha.
  • Track your application at any time.
  • The documentation process is very easy and quick.
  • You can easily get a car loan through Dialabank

Used Car Loan Wardha 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 Wardha Documents Required

Documents required for car loan are as followed:

For Salaried Individual:

  • Any of the above  documents as identity & Address Proof: Valid Passport, Permanent Driving license [recent, legible, laminate], Letter issued by the National Population Register containing details of name & address, Voters ID Card, Job card issued by NREGA
  • All the above documents as proof of income: Latest Salary Slip, Latest Form 16/Latest ITR, Last 6 months bank statements
  • Any of the following for sign verification proof: Credit Card Statement with Credit Card Copy, Banker’s Verification, Passport Copy, Photo Driving License with DOB (recent, legible, laminated), Copy of Margin Money Paid to the Bank

For Self Employed:

  • For Age proof: Memorandum and Articles of Association/Certificate of Incorporation.
  • For Identity proof: Memorandum and Articles of Association/Certificate of Incorporation.
  • For Income proof: Latest ITR and audited balance sheet along with profit & loss account.
  • Any of the above documents as address proof: Telephone Bill, Memorandum and Articles of Association, Certification of Incorporation, Electricity Bill
  • Any of the above documents for sign verification proof: Passport Copy, Credit Card Statement with Credit Card Copy, Banker’s Verification, Photo Driving License with DOB (recent, legible, laminated), Copy of Margin Money Paid to the Bank.
  • The following type of companies can also apply for a Used Car Loan:
  1. Sole Proprietorship
  2. Partnership Firms
  3. Private Limited Companies
  4. Public Limited Companies

Used Car Loan Wardha Eligibility Criteria

The car loan eligibility requirements are as followed:

Salaried Individual:

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

Self Employed:

  • This includes individuals who own a private company in the business of manufacturing, trading, or services
  • Rs. 2,50,000 per annum should be a minimum earning.
  • Individuals who have an office landline.
  • The following type of companies are also eligible for a Used Car Loan :
  1. Sole Proprietorship
  2. Partnership Firms
  3. Private Limited Companies
  4. Public Limited Companies

Used Car Loan For Major Car Manufacturers In Wardha

TABLE WILL APPEAR

Processing Fees / Prepayment Charges On Used Car Loan In Wardha

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 Wardha

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