Best Banks for Car Loan in Kanjirapally
|Feature||HDFC Bank||ICICI Bank||
Kotak Mahindra Bank
|Interest Rate (p.a.)||7.35 % - 7.95 %||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 Kanjirapally 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 Kanjirapally 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 Kanjirapally EMI Calculator
Car Loan Kanjirapally Fees & Charges
|Charges||New Car Loan||Used Car Loan|
7.35% per annum
|11.80% p.a. to 13.80% p.a.|
|Car loan Processing fees||0.5%||0.5%|
|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 Kanjirapally 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 Kanjirapally
The interest rates on vehicle loans offered by different lenders in Kanjirapally may vary, but they are all reasonable and competitive. If you want to get a car loan in Kanjirapally with the lowest interest rate, follow the steps below:
How to Apply for a Car Loan in Kanjirapally?
Availing of a car loan in Kanjirapally is an easy process with DialaBank. Follow the following steps to avail of the best offers:
- Shorter repayment term –In Kanjirapally, the interest rate on a car loan varies from bank to bank. All of these prices are fair and competitive. Follow the steps outlined below to obtain a vehicle loan in Kanjirapally at the lowest possible interest rate.
- Research and compare an offer from different lenders –If you want to receive a good deal on a car loan, you should evaluate offers from several banks and NBFCs. You will be able to locate the best bank in Kanjirapally with the lowest interest rate if you do so.
- Maintain Debt to income ratio –The debt to income ratio indicates how much of an applicant’s income goes toward loan repayment and is taken into account when determining a loan’s interest rate. If your debt-to-income ratio is low, you have a better chance of receiving a low-interest loan.
- Maintaining credit score – When it comes to acquiring a loan and determining the interest rate, your credit score is crucial. Banks look at credit scores and make greater offers if the applicant’s credit score improves. They usually search for a credit score of at least 750 points. If your credit score is higher, you may be able to acquire a better interest rate. Dialabank’s “Free credit score” service can be used to check your score.This will make you aware of your credit score and provide you with time to improve it before applying for a loan.
- 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 Kanjirapally Offers the Best Car Loans?
Vehicle loans are available in Kanjirapally 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 KanjirapallyTABLE WILL APPEAR
Processing Fees / Prepayment Charges on Car Loan Kanjirapally
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 Kanjirapally
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 Kanjirapally.
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 Kanjirapally Contact Number
In case of any queries regarding the car loan in Kanjirapally, you may contact on the number 9878981166 for any assistance.
Pre Calculated EMI Table for Car Loan Kanjirapally
|Rate||5 Yrs||4 Yrs||3 Yrs|
In the state of Kerala, India, Kanjirappally is a taluk and a town in the Kottayam district, some 38 kilometers from the district headquarters. Kanjirapally, a small village in Kerala, India, nestled in the foothills of the Western Ghats, is a testament to the intrepid planter’s pioneering character and entrepreneurial spirit. This lovely village, surrounded by plantations and lush vegetation, radiates an old world charm.
FAQ’s About Kanjirapally Car Loan
What is the maximum Car Loan amount that I am eligible for?
The maximum loan amount that can be approved varies from one bank to the next. Banks typically approve loan amounts ranging from 80% to 90% of the car’s on-road price. Few banks will even lend the full ex-showroom price of a car.
✅ When applying for a car loan, what documents do I need to submit?
Along with your PAN card, a car loan application requires self-attested supporting documents such as income, address, and identity proof documents. If there are any other documentation requirements, they tend to vary from one lender to the next.
✅ What is the average term of a car loan?
A car loan can last anywhere from one to five years. The higher the EMI, the shorter the loan term, and the reverse is true for longer car loan terms.
✅ What kinds of vehicles can I buy with a Car Loan?
Car loans can be used to purchase various passenger vehicles, such as SUVs (Sport Utility Vehicles), MUVs (Multi Utility Vehicles), and other models. A car loan can also be used to purchase a vehicle for business purposes. Some lenders also offer loans for trucks, tractors, and construction equipment.
✅ Is it possible to get a loan on my existing car?
Yes, many lenders will grant you a loan on your current vehicle if you have a good payment history with your current lender.
Table of Contents
- 1 Best Banks for Car Loan in Kanjirapally
- 3 Car Loan Kanjirapally Features
- 4 Car Loan Kanjirapally Eligibility Criteria
- 5 Car Loan Kanjirapally EMI Calculator
- 6 Car Loan Kanjirapally Fees & Charges
- 7 Car Loan Kanjirapally fees: Leading Banks –
- 8 How to Get the Best Car Loan Interest Rates in Kanjirapally
- 9 How to Apply for a Car Loan in Kanjirapally?
- 10 Which Bank in Kanjirapally Offers the Best Car Loans?
- 11 Car Loan for Major Car Manufacturers in Kanjirapally
- 12 Processing Fees / Prepayment Charges on Car Loan Kanjirapally
- 13 CIBIL Score Required for Car Loan in Kanjirapally
- 14 Car Loan Kanjirapally Contact Number
- 15 Pre Calculated EMI Table for Car Loan Kanjirapally
- 16 About Kanjirapally
- 17 FAQ’s About Kanjirapally Car Loan
- 18 ✅
- 19 What is the maximum Car Loan amount that I am eligible for?
- 20 ✅ When applying for a car loan, what documents do I need to submit?
- 21 ✅ What is the average term of a car loan?
- 22 ✅ What kinds of vehicles can I buy with a Car Loan?