Car Loan in  Katro

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Best Banks for Car Loan in  Katro                      Car Loan in  Katro                         


car loan

Car Loan KatroFeatures

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

 

If you’re looking for a car loan in  Katro, you’ve come to the right place. Now compare tenures for free and processing costs and interest rates and get approval or estimates within 30 minutes. Next, learn how to improve your Katro car loan eligibility, as well as the list of top banks that offer auto loans in Katroand their unique features. Finally, to make an informed decision, learn which banks offer 100% financing and have the lowest interest rates.

Car Loan KatroEligibility 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

car loan

Car Loan KatroEMI Calculator

Car Loan KatroFees & 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

Car Loan KatroFees and Charges: Leading Banks –

Sep 18 2021
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

Car Loan KatroDocuments Required

Salaried Individual

Category
Documents Required
Identity Proof (Any 1) Passport
Voter ID
Aadhar Card
Driving License
Address Proof (Any 1) Aadhar Card
PAN
Driving License
Electricity Bill
Date of Birth Proof(Any 1)
Passport
Birth Certificate
High School Marksheet
Driving Licence
Signature Proof(Any 1)
PAN
Bankers Verification
Passport
Income Proof
Salary Slip and latest Form No.16
Bank Statement
Last 6 month Bank statement
Employment Continuity Proof
Job card by NREGA
ITR of Form no. 16
Salary Slip mentioned with joining date
Letter of Appointment

 

Self-Employed Individuals

Category
Documents Required
Identity Proof (Any 1) PAN Card
Passport
Voter ID
Aadhar Card
Address Proof (Any 1) PAN Card
Voter ID
Passport
Electricity Bill
Date of Birth Proof (Any 1) Birth Certificate
Passport
Driving Licence
PAN
Signature Proof (Any 1)
PAN
Bankers Verification
Passport
Bank Statement
Bank statement of last 6 months
Employment Continuity Proof
Latest ITRs
Shop & Establishment Act Certificate
Shop & Establishment Act Certificate
Sales Tax or VAT Certificate
Business Proof
Registration Certificate
Telephone Bill/Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate

 

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

Category
Documents Required
Identity Proof (Any 1) Driving Licence
PAN Card
Aadhar Card
Passport
Address Proof (Any 1)
Electricity Bill/Telephone Bill
Aadhar Card
Driving License
Voter ID
Income Proof
Audited Balance Sheet
P&L Account
ITR for the previous 2 years
Bank Statement Last 6 month
Business Continuity Proof
Company ITR of the last 2 years
Audited Balance Sheet
TAX registration Certificate
Current Account Statement
Additional documents
Letter of Authority or PAN Card

 

2. Private Limited/Limited Companies

Category
Documents Required
Identity Proof
The latest copy of MOA and AOA
Copy of Incorporation
Address Proof (Any 1)
SSI/MSME Registration Certificate
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
Sales Tax Certificate
Income Proof
Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Previous 6 Months
Business Continuity Proof
P&L account and
ITR of the Company of the past 2 years
Audited Balance Sheet
Shop & Establishment Act Certificate
Additional documents
List of Shareholding partners and Directors
Board Resolution
PAN Card
Certificate of Commencement of Business for Ltd. Co.

car loan

How to Get the Best Car Loan Interest Rates in  Katro

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

  • Choose a shorter repayment term – Various borrowers believe that lengthier repayment terms are better as the monthly EMI (equated monthly instalment) is low. Usually, applicants don’t appear to be aware that lenders view lengthier payback terms as an indication of the low repayment capabilities of a borrower, so they charge higher interest rates.
  • Check and compare the perks offered by different lenders – To get a decent deal on an auto loan, you must compare and explore deals and benefits offered by different lenders. This will assist you in knowing which lenders have the best interest rates and which lender to choose.
  • Manage a modest debt-to-income ratio – How much of an applicant’s income goes toward loan repayment is measured through the debt-to-income, and banks can take this into account when setting interest rates. For example, a borrower has a better chance of getting a car loan with a lower interest rate if your ratio of debt to income is low.
  • Carry a good credit score — If you have a good credit score, lenders are usually willing to offer you a car loan with cheaper interest rates. Lenders or banks consider a score above 750 as good. Many would give auto loans to applicants even with bad credit, but they will demand a higher interest rate on loans.

How to Apply for a Car Loan in  Katro?

Availing of a car loan in Katrois an easy process with Dialabank. Follow the below-mentioned steps to avail of the best deals:

  • Visit our website Dialabank.
  • Select the car loan option in the menu.
  • Fill in all the required information regarding your income and car type.
  • Once you have filled in the details, our relationship manager will soon get in touch with you on the number provided by you.
  • Regarding any queries about the loan, you can contact our relationship managers on 9878981166.
  • Visit the branch personally to avail an offline method for a car loan, which might be hectic for you.

car loan

Which Bank in KatroOffers the Best Car Loans?

Various NBFCs and banks, including HDFC, ICICI, and SBI, offer vehicle loans in  Katro. The Best lender is one that provides you with a reasonable interest rate in your loan amount and can distribute the funds as quickly as feasible. Therefore, it is always a good idea to check and compare vehicle loans from several lenders before applying for one that meets all of your requirements, such as interest rates.

Car Loan for Major Car Manufacturers in  Katro

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan  Katro

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

car loan

CIBIL Score Required for Car Loan in  Katro

A CIBIL Score is referred to as what defines your ability to pay off your credits. A high Credit score means an applicant has a good credit history and makes your loan application process easy and smooth to be processed. Majority, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in  Katro.

This score usually varies 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 you have a good CIBIL score, you may have to pay a low rate of interest.


car loan

Car Loan KatroContact Number

If you face any queries regarding the car loan, you may contact the number 9878981166 for any assistance.


car loan

Pre Calculated EMI Table for Car Loan  Katro

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

About  Katro

Best Banks for Car Loan in  Katro


car loan

Car Loan KatroFeatures

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

 

If you’re looking for a car loan in  Katro, you’ve come to the right place. Now compare tenures for free and processing costs and interest rates and get approval or estimates within 30 minutes. Next, learn how to improve your Katro car loan eligibility, as well as the list of top banks that offer auto loans in Katroand their unique features. Finally, to make an informed decision, learn which banks offer 100% financing and have the lowest interest rates.

Car Loan KatroEligibility 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

car loan

Car Loan KatroEMI Calculator

Car Loan KatroFees & 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

Car Loan KatroFees and Charges: Leading Banks –

Sep 18 2021
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

Car Loan KatroDocuments Required

Salaried Individual

Category
Documents Required
Identity Proof (Any 1) Passport
Voter ID
Aadhar Card
Driving License
Address Proof (Any 1) Aadhar Card
PAN
Driving License
Electricity Bill
Date of Birth Proof(Any 1)
Passport
Birth Certificate
High School Marksheet
Driving Licence
Signature Proof(Any 1)
PAN
Bankers Verification
Passport
Income Proof
Salary Slip and latest Form No.16
Bank Statement
Last 6 month Bank statement
Employment Continuity Proof
Job card by NREGA
ITR of Form no. 16
Salary Slip mentioned with joining date
Letter of Appointment

 

Self-Employed Individuals

Category
Documents Required
Identity Proof (Any 1) PAN Card
Passport
Voter ID
Aadhar Card
Address Proof (Any 1) PAN Card
Voter ID
Passport
Electricity Bill
Date of Birth Proof (Any 1) Birth Certificate
Passport
Driving Licence
PAN
Signature Proof (Any 1)
PAN
Bankers Verification
Passport
Bank Statement
Bank statement of last 6 months
Employment Continuity Proof
Latest ITRs
Shop & Establishment Act Certificate
Shop & Establishment Act Certificate
Sales Tax or VAT Certificate
Business Proof
Registration Certificate
Telephone Bill/Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate

 

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

Category
Documents Required
Identity Proof (Any 1) Driving Licence
PAN Card
Aadhar Card
Passport
Address Proof (Any 1)
Electricity Bill/Telephone Bill
Aadhar Card
Driving License
Voter ID
Income Proof
Audited Balance Sheet
P&L Account
ITR for the previous 2 years
Bank Statement Last 6 month
Business Continuity Proof
Company ITR of the last 2 years
Audited Balance Sheet
TAX registration Certificate
Current Account Statement
Additional documents
Letter of Authority or PAN Card

 

2. Private Limited/Limited Companies

Category
Documents Required
Identity Proof
The latest copy of MOA and AOA
Copy of Incorporation
Address Proof (Any 1)
SSI/MSME Registration Certificate
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
Sales Tax Certificate
Income Proof
Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Previous 6 Months
Business Continuity Proof
P&L account and
ITR of the Company of the past 2 years
Audited Balance Sheet
Shop & Establishment Act Certificate
Additional documents
List of Shareholding partners and Directors
Board Resolution
PAN Card
Certificate of Commencement of Business for Ltd. Co.

car loan

How to Get the Best Car Loan Interest Rates in  Katro

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

  • Choose a shorter repayment term – Various borrowers believe that lengthier repayment terms are better as the monthly EMI (equated monthly instalment) is low. Usually, applicants don’t appear to be aware that lenders view lengthier payback terms as an indication of the low repayment capabilities of a borrower, so they charge higher interest rates.
  • Check and compare the perks offered by different lenders – To get a decent deal on an auto loan, you must compare and explore deals and benefits offered by different lenders. This will assist you in knowing which lenders have the best interest rates and which lender to choose.
  • Manage a modest debt-to-income ratio – How much of an applicant’s income goes toward loan repayment is measured through the debt-to-income, and banks can take this into account when setting interest rates. For example, a borrower has a better chance of getting a car loan with a lower interest rate if your ratio of debt to income is low.
  • Carry a good credit score — If you have a good credit score, lenders are usually willing to offer you a car loan with cheaper interest rates. Lenders or banks consider a score above 750 as good. Many would give auto loans to applicants even with bad credit, but they will demand a higher interest rate on loans.

How to Apply for a Car Loan in  Katro?

Availing of a car loan in Katrois an easy process with Dialabank. Follow the below-mentioned steps to avail of the best deals:

  • Visit our website Dialabank.
  • Select the car loan option in the menu.
  • Fill in all the required information regarding your income and car type.
  • Once you have filled in the details, our relationship manager will soon get in touch with you on the number provided by you.
  • Regarding any queries about the loan, you can contact our relationship managers on 9878981166.
  • Visit the branch personally to avail an offline method for a car loan, which might be hectic for you.

car loan

Which Bank in KatroOffers the Best Car Loans?

Various NBFCs and banks, including HDFC, ICICI, and SBI, offer vehicle loans in  Katro. The Best lender is one that provides you with a reasonable interest rate in your loan amount and can distribute the funds as quickly as feasible. Therefore, it is always a good idea to check and compare vehicle loans from several lenders before applying for one that meets all of your requirements, such as interest rates.

Car Loan for Major Car Manufacturers in  Katro

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan  Katro

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

car loan

CIBIL Score Required for Car Loan in  Katro

A CIBIL Score is referred to as what defines your ability to pay off your credits. A high Credit score means the applicant has a good credit history and makes your loan application process easy and smooth to be processed. Majority, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in  Katro.

This score usually varies 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 you have a good CIBIL score, you may have to pay a low rate of interest.


car loan

Car Loan KatroContact Number

If you face any queries regarding the car loan, you may contact the number 9878981166 for any assistance.


car loan

Pre Calculated EMI Table for Car Loan  Katro

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

About  Katro

Katro is a village in the Durg Tehsil of Chattisgarh’s Durg District. It lies 16 kilometres south of Durg, the district headquarters. Durg is 11 kilometres away. Raipur, the state capital, is 39 kilometres away.

The postal head office for Katro is Utai, and the pin code is 491107.

 


car loan

FAQ’s About Katro Car Loan

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

Car loans can be used to buy numerous passenger vehicles, including SUVs (Sport Utility Vehicles), MUVs (Multi Utility Vehicles), and many other types of vehicles. You can also get a car loan to purchase a vehicle for business purposes. Some lenders also provide tractor, truck and construction equipment loans.

 Is the car loan interest rate negotiable?

Usually, the interest rate is negotiable, but it depends on your CIBIL Score, records, past relationship with the money lenders and other factors.

 What is a good car loan CIBIL score?

A CIBIL score of 750 and above is good.

 

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