Car Loan Kangan

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Best Banks for Car Loan in Kangan                   

Car Loan Kangan

Car Loan Kangan

       

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

Car Loan Kangan 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


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Car Loan Kangan 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 Kangan EMI Calculator

Car Loan Kangan 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 Kangan fees: 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


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How to Get the Best Car Loan Interest Rates in Kangan

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

How to Apply for a Car Loan in Kangan?

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

  • Shorter repayment term –In Kangan, 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 Kangan 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 Kangan 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 considered 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. Therefore, if your credit score is higher, you may 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.

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Which Bank in Kangan Offers the Best Car Loans?

Vehicle loans are available in    Kangan 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 Kangan

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Kangan

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 Kangan

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    Kangan.

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.


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Car Loan Kangan Contact Number

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


car loan

Pre Calculated EMI Table for Car Loan Kangan

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 Kangan

Kangan is a town in Jammu and Kashmir’s Ganderbal district. It is a tehsil in the Ganderbal District. It is located across the Nallah Sindh and spans a 50-kilometre-long ravine valley, with 1,20,934 people, a literacy rate of 52.8 per cent, and a male-to-female ratio of 868.

FAQ’s About Kangan Car Loan

What is the best way to pay an EMI on a car loan?

The applicant has three EMI payment choices. Standing Instruction (SI), Electronic Clearing Service (ECS), and Post-Dated Cheques are some of the choices available.

How do I figure out the monthly payment on a car loan?

The Dialabank EMI calculator can be used to calculate the EMI. This simple EMI calculator allows you to calculate your monthly EMI by following a few simple steps.

What types of interest rates are there?

There are two sorts of interest rates. The first is the fixed interest rate, and candidates should pick between the fixed and floating interest rates based on their preferences.

 

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