Car Loan in Kamrej

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Best Banks for Car Loan in Kamrej                   

Car Loan Kamshet |

Car Loan Kamshet |

Feature HDFC Bank ICICI Bank
Kotak Mahindra Bank
Interest Rate 7.05 % - 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

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Car Loan Kamrej Features

Loan Approval in 30 Minutes
Lowest Rate of Interest
Up to 100% on Road Loan
Minimum Documentation
Paperless Process
Flexible Repayment
Zero Foreclosure
24 x 7 Online Payment Facility
No Hidden Charges


car loan

Car Loan Kamrej Eligibility Criteria

Salaried Individual
Age – 21 years to 60 years
Net Monthly Income – Minimum ₹ 20,000
Employment Duration – 1-year minimum
Income Eligibility – Based on Form 16 and salary slip
Self-Employed Individuals
Age – 21-65 years of age
Minimum ITR – Rs.2 lakh
Employment Duration – Minimum 3 years
Income Eligibility – Depends on the latest Income Tax Returns
Self-Employed Non-Individuals (Company/Partnership)
Minimum ITR – Rs. 2 lakh
Employment Duration – 3 years minimum
The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
At least 6-month vintage
Average Quarterly Balance – 2 quarters balance at a minimum of Rs.1 lakh
Maximum Loan Amount – 3 times the Average Quarterly Balance of the last 2 Quarters

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Car Loan Kamrej EMI Calculator

Car Loan Kamrej Fees & Charges

Charges New Car Loan Used Car Loan
Interest Rate 7.05% per annum 11.80% p.a. to 13.80% p.a.
Car loan Processing fees 0.004 0.004
Issuance of Duplicate Repayment Schedule Charges Around Rs.500 Around Rs.500
Foreclosure Charges 0.06 0.06
Penal Interest 2% PM 2% PM
Car loan Part Payment charges 6% of the amount 6% of the amount
Cheque/Instrument Swap Charge Around Rs.500 Around Rs.500
Documentation Charge Around Rs. 500 Around Rs. 500
Issuance of Duplicate No Dues Certificate Charges Around Rs. 500 Around Rs. 500
Registration Certification Collection Charge Around Rs. 200 Around Rs. 200
Cheque Bounce/Instrument Return Charges Around Rs. 500 Around Rs. 500
Issuance of Duplicate Statement Charges Around Rs. 500 Around Rs. 500
Loan Cancellation/Re-booking Charges Around Rs. 1000 Around Rs. 1000
Issuance of Credit Report Around Rs. 50 Around Rs. 50

Car Loan Kamrej Charges: Leading Banks –

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 0.01 Nil
Andhra Bank Car Loan Nil Nil


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


car loan

How to Get the Best Car Loan Interest Rates in Kamrej

The interest rates on vehicle loans offered by different lenders in Kamrej may vary, but they are all reasonable and competitive. If you want to get a car loan in Kamrej with the lowest interest rate, follow the steps below:

  • Choose a shorter repayment term – Because the monthly EMI (equated monthly instalment) is cheap, many auto loan applicants feel that longer payback terms are preferable. Unfortunately, they don’t appear to realize that lenders interpret longer payback terms as a sign of a borrower’s poor repayment ability, so they charge higher interest rates. Consider a shorter repayment time if you want to save money on your auto loan.
  • Research and compare the perks offered by different lenders – If you want to receive a good deal on a car loan, you should first look into and evaluate the perks provided by various lenders. This will assist you in determining which lenders provide the greatest interest rates and, as a result, which lender to select.
  • Maintain a modest debt-to-income ratio – The debt-to-income ratio is a calculation that lenders use to determine how much of an applicant’s income goes toward loan repayment. You have a greater chance of receiving a reduced-interest auto loan if your debt-to-income ratio is lower.
  • Maintain a good credit score — If you have a high credit score, lenders would gladly provide you with a vehicle loan with lower interest rates. A credit score of 750 or above is considered good by lenders. People with weak credit may get vehicle loans, but they will have to pay a higher interest rate. To ensure you have a decent credit score, check your credit scores periodically using Dialabank’s “Free Credit Score” service. This will allow you to take remedial action to enhance your credit score if it is low, and it will allow you to approach lenders with confidence if your credit score is good.

How to Apply for a Car Loan in Kamrej?

Availing of a car loan in Kamrej is an easy process with DialaBank. Follow the following steps to avail of the best offers:

  • Visit our website Dialabank.
  • Click on the car loan option available in the menu
  • Fill in the details regarding the car type and your income
  • Wait as our relationship manager will soon get in touch with you on your provided number.
  • You may also contact our relationship managers on 9878981166 in case of any queries regarding the loan.
  • To avail of a car loan offline, you will have to visit the branch personally, which might be hectic for you.

car loan

Which Bank in Kamrej Offers the Best Car Loans?

Many big banks and NBFCs, including HDFC, ICICI, and SBI, offer vehicle loans in Kamrej. The finest lender is one that can provide you with the loan amount you need at a reasonable interest rate and can distribute the funds as quickly as feasible. Therefore, it is always a good idea to compare vehicle loans from many lenders before applying for one that meets all of your needs, such as interest rates.

Car Loan for Major Car Manufacturers in Kamrej

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Kamrej

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

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CIBIL Score Required for Car Loan in Kamrej

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 750 and above as a good score to approve your loan application process in Kamrej.

This score may again vary from bank to bank. If you have 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, you may have to pay a low rate of interest. Thus, a CIBIL score is an important factor in a car loan.


car loan

Car Loan Kamrej Contact Number

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


car loan

Pre Calculated EMI Table for Car Loan Kamrej

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

FAQ’s About Kamrej Car Loan

What types of vehicles can I purchase with a car loan?

Automobile loans may be used to purchase various passenger cars, including SUVs, MUVs, and other models. A car loan can also be used to purchase a vehicle for business use. Some lenders may also offer money for trucks, tractors, and construction equipment.

Is it possible to acquire a loan on my current vehicle?

Many lenders may provide you with a loan on your present car if you have a good payment history with your current lender.

 What options do I have for repaying my auto loan?

Three alternatives for repaying your loan are Standing Instruction (SI), Electronic Clearing Service (ECS), and Post-Dated Cheques (PDCs). The first two alternatives are typically recommended for returning your loan since they are faster and have a lesser chance of error, which is not the case with PDCs.

About Kamrej

Kamrej is a Surat City satellite town in the Surat district of Gujarat, India. On National Highway 8 between Mumbai and Delhi, Kamrej is a toll collecting facility. Kamrej is well-known for its fast food and Night Dinner menus.

 

Special Note: Banks do not provide Car Loans to bad credit holders, but they can easily fulfil their money requirement with Gold Loan.

 

 

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