Best Banks for
|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 Kantabanji 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 Kantabanji 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 Kantabanji EMI Calculator
Car Loan Kantabanji 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 Kantabanji Charges: Leading Banks – Nov 27 2022
|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 Kantabanji
The interest rates on vehicle loans offered by different lenders in Kantabanji may vary, but they are all reasonable and competitive. If you want to get a car loan in Kantabanji with the lowest interest rate, follow the steps below:
- Choose a shorter repayment term – Many car loan applicants believe that lengthier repayment terms are better because the monthly EMI (equated monthly instalment) is low. Unfortunately, they don’t seem aware that lenders view lengthier payback terms as an indication of a borrower’s low repayment capabilities, so they charge higher interest rates. So, if you want to save money on your car loan, consider a shorter payments period.
- Research and compare the perks offered by different lenders – If you want to get a decent deal on an auto loan, you must first explore and compare the benefits offered by different lenders. This can help you figure out which lenders have the best interest rates and, as a result, which lender to choose.
- Maintain a modest debt-to-income ratio – The debt-to-income ratio measures how much of an applicant’s income goes toward loan repayment, and lenders consider this when setting interest rates. Therefore, if your debt-to-income ratio is lower, you have a better chance of getting a car loan with a lower interest rate.
- Maintain a good credit score — Lenders will be pleased to offer you a car loan with cheaper interest rates if you have a good credit score. Lenders consider a credit score of above 750 to be healthy. Many lenders may give auto loans to people with bad credit, but they will demand a higher interest rate. Check your credit scores regularly with Dialabank “Free Credit Score” service to guarantee you have a good credit score. 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 Kantabanji?
Availing of a car loan in Kantabanji 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 Kantabanji Offers the Best Car Loans?
Many big banks and NBFCs, including HDFC, ICICI, and SBI, offer vehicle loans in Kantabanji. 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 KantabanjiTABLE WILL APPEAR
Processing Fees / Prepayment Charges on Car Loan Kantabanji
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 Kantabanji
The CIBIL score is used to determine your ability to pay back your debts. A better credit score indicates a positive credit history and facilitates the processing of your auto loan application. In Kantabanji, most banks and NBFCs consider a credit score of 750 or above to be an excellent score for approving your loan application.
This score may differ from one bank to the next. For example, if your CIBIL score is lower than the required number, you may be charged a high interest rate on the loan amount, but if your CIBIL score is strong, you may be charged a low interest rate. As a result, a CIBIL score is a crucial consideration when applying for a vehicle loan.
Car Loan Kantabanji Contact Number
If you have any queries regarding the car loan in Kantabanji, you may contact the number 9878981166 for any assistance.
Pre Calculated EMI Table for Car Loan Kantabanji
|Rate||5 Yrs||4 Yrs||3 Yrs|
FAQ’s About Kantabanji Car Loan
✅ What kinds of automobiles am I able to buy with a car loan?
Car loans may be used to purchase various passenger cars, 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 commercial reasons. Some lenders also offer loans for trucks, tractors, and construction equipment.
✅ Is it feasible to get a loan on my existing car?
Yes, many lenders will offer you a loan on your present car, provided you have a good payment history with your current lender.
✅ What are my choices for repaying my auto loan?
Three alternatives for repaying your loan are Standing Instruction (SI), Electronic Clearing Service (ECS), and Post-Dated Cheques (PDCs). However, the first two alternatives are typically recommended for returning your loan because they are faster and have a smaller chance of error, which is not the case with PDCs.
Kantabanji is a business centre for the local villages and a business hub in western Odisha, and it is located in the western region of the state. Cotton and paddy are the main crops cultivated, and the products are supplied to both private and government purchasers.
Kantabanji features two malls: Muskan Mall and Kantabanji Mall, all of which provide everything you need under one roof, from groceries to apparel to entertainment.
Special Note: Banks do not provide Car Loans to bad credit holders, but they can easily fulfil their money requirement with Gold Loan.
Table of Contents
- 1 Best Banks for
- 2 Car Loan Kantabanji Features
- 3 Car Loan Kantabanji Eligibility Criteria
- 4 Car Loan Kantabanji EMI Calculator
- 5 Car Loan Kantabanji Fees & Charges
- 6 Car Loan Kantabanji Charges: Leading Banks – Nov 27 2022
- 7 How to Get the Best Car Loan Interest Rates in Kantabanji
- 8 How to Apply for a Car Loan in Kantabanji?
- 9 Which Bank in Kantabanji Offers the Best Car Loans?
- 10 Car Loan for Major Car Manufacturers in Kantabanji
- 11 Processing Fees / Prepayment Charges on Car Loan Kantabanji
- 12 CIBIL Score Required for Car Loan in Kantabanji
- 13 Car Loan Kantabanji Contact Number
- 14 Pre Calculated EMI Table for Car Loan Kantabanji
- 15 FAQ’s About Kantabanji Car Loan
- 16 ✅ What kinds of automobiles am I able to buy with a car loan?
- 17 ✅ Is it feasible to get a loan on my existing car?
- 18 ✅ What are my choices for repaying my auto loan?
- 19 About Kantabanji