Best Banks for Car Loan in Kamrup
|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
Car Loan Kamrup 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 Kamrup Eligibility Criteria
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
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.
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
Car Loan Kamrup EMI Calculator
Car Loan Kamrup 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|
|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 Kamrup fees: Leading Banks –
|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
How to Get the Best Car Loan Interest Rates in Kamrup
The interest rates on vehicle loans offered by different lenders in Kamrup may vary, but they are all reasonable and competitive. If you want to get a car loan in Kamrup with the lowest interest rate, follow the steps below:
- Select a shorter payback period– Because the monthly EMI (equivalent monthly instalment) is cheap, many auto loan applicants feel that longer repayment terms are better. Unfortunately, they don’t seem to realize that lenders see longer repayment terms as a sign of a borrower’s poor repayment ability. Therefore they charge higher interest rates. Consider a shorter payment time if you want to save money on your auto loan.
- Research and evaluate the benefits given by different lenders. For example, 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 can assist you in determining which lenders provide the greatest interest rates and, as a result, which lender you should select.
- Keep your debt-to-income ratio low– The debt-to-income ratio is a metric used by lenders to determine how much of an applicant’s income goes toward loan repayment. As a result, if your debt-to-income ratio is lower, you’ll have a higher chance of receiving a low-interest vehicle loan.
- Keep your credit score high — If you have a strong 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 Kamrup?
Availing of a car loan in Kamrup 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.
Which Bank in Kamrup Offers the Best Car Loans?
Vehicle loans are available in Kamrup from various large banks and NBFCs, including HDFC, ICICI, and SBI. Naturally, the best lender will be able to offer you the loan amount you require at a competitive interest rate and release the cash as fast as possible. As a result, it’s always a good idea to shop around for auto loans from various lenders before committing to one that fits all of your requirements, such as interest rates.
Car Loan for Major Car Manufacturers in KamrupTABLE WILL APPEAR
Processing Fees / Prepayment Charges on Car Loan Kamrup
1999 - 4999 + Tax
No prepayment is allowed until 12 EMIs are paid
No foreclosure is allowed until 12 EMIs are paid
13-24 months: 2% of loan principal outstanding
>36 months: Nil Charges
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|
CIBIL Score Required for Car Loan in Kamrup
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 Kamrup.
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 Kamrup Contact Number
In case of any queries regarding the car loan in Kamrup, you may contact on the number 9878981166 for any assistance.
Pre Calculated EMI Table for Car Loan Kamrup
|Rate||5 Yrs||4 Yrs||3 Yrs|
Kamrup is a Surat City satellite town in the Surat district of Gujarat, India. On National Highway 8 between Mumbai and Delhi, Kamrup is a toll collecting facility. Fast meal and Night Dinner are two of Kamrup’s specialities. Kamrup has a population of 12,746 people, according to the 2001 India census. Males make up 57% of the population, while females make up 43%. Kamrup has a literacy rate of 71 per cent, which is higher than the national average.
FAQ’s About Kamrup Car Loan
✅ What types of vehicles can I purchase with a car loan?
Car loans can be used to buy various passenger vehicles, including SUVs (Sport Utility Vehicles), MUVs (Multi Utility Vehicles), and other types of vehicles. You can also get a car loan to acquire a vehicle for business purposes. Truck, tractor, and construction equipment loans are also available from some lenders.
✅ Is it possible to acquire a loan on my current vehicle?
Yes, if you have a strong payment history with your current lender, many lenders will grant you a loan on your current vehicle.
✅ What options do I have for repaying my auto loan?
Standing Instruction (SI), Electronic Clearing Service (ECS), and Post-Dated Cheques are three options for repaying your loan (PDCs). However, it is usually advised that you return your loan using the first two options because they are speedier and have a lower risk of error, which is not the case with PDCs.
Table of Contents
- 1 Best Banks for Car Loan in Kamrup
- 2 Car Loan Kamrup Features
- 3 Car Loan Kamrup Eligibility Criteria
- 4 Car Loan Kamrup EMI Calculator
- 5 Car Loan Kamrup Fees & Charges
- 6 Car Loan Kamrup fees: Leading Banks –
- 7 How to Get the Best Car Loan Interest Rates in Kamrup
- 8 How to Apply for a Car Loan in Kamrup?
- 9 Which Bank in Kamrup Offers the Best Car Loans?
- 10 Car Loan for Major Car Manufacturers in Kamrup
- 11 Processing Fees / Prepayment Charges on Car Loan Kamrup
- 12 CIBIL Score Required for Car Loan in Kamrup
- 13 Car Loan Kamrup Contact Number
- 14 Pre Calculated EMI Table for Car Loan Kamrup
- 15 About Kamrup
- 16 FAQ’s About Kamrup Car Loan
- 17 ✅ What types of vehicles can I purchase with a car loan?
- 18 ✅ Is it possible to acquire a loan on my current vehicle?
- 19 ✅ What options do I have for repaying my auto loan?