Best Banks for Car Loan in Karanja
⍟ Loan Approval in 30 Minutes Purchasing a car is the dream for many people, and today, it is more considered a status symbol. Nowadays, various banking and non-banking institutions provide it at a low-interest rate with affordable EMIs options. These funds can be useful for those borrowers who want to buy a new or a used car and cannot easily afford it because of limited income. Compare interest rates, processing costs, and tenures for free, and even get approval or estimates within 30 minutes. Learn how to improve your Karanja car loan eligibility, as well as the list of top banks that offer auto loans in Karanja and their unique features. To make an informed decision, learn which banks offer 100% financing and have the lowest interest rates. The car loan eligibility requirements are as follows in Karanja: 7.35% per annum Documents required for car loan are as follows: The interest rates on vehicle loans offered by different lenders in Karanja may vary, but they are all reasonable and competitive. If you want to get a car loan in Karanja with the lowest interest rate, follow the steps below: Availing of a car loan in Karanja is an easy process with DialaBank. Follow the following steps to avail of the best offers: Many big banks and NBFCs, including HDFC, Private, and SBI, offer vehicle loans in Karanja. 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. TABLE WILL APPEAR 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 Karanja. 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. In case of any queries regarding the car loan in Karanja, you may contact on the number 9878981166 for any assistance. Karanja is a municipal council city in the Washim district of Maharashtra, India. Karanja also goes by the name Karanja Lad. Saint Karanj is the town’s name[citation needed]. In honour of Muslim Queen(a) (Daughter of Nawab)[citation needed], it is also known as “Lad’anche Karanja.” For Hindus, Jains, and Muslims, Karanja is a sacred site. It is where Shri Narasi was born. 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 commercial purposes. Some lenders also offer loans for trucks, tractors, and construction equipment. Yes, if you have a strong payment history with your current lender, many lenders will grant you a loan on your current vehicle. A car loan does not cover the insurance and registration costs, as it is mandatory to be paid for separately. Most lenders will not require a guarantor to obtain a car loan. However, if your income falls below the statutory minimum, lenders may want a co-applicant or a guarantee to show that you will be able to repay the loan.
Car Loan Karanja Features
⍟ 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 Karanja Eligibility Criteria
Salaried Individual
Net Monthly Income – Minimum ₹ 20,000
Employment Duration – 1-year minimum
Income Eligibility – Based on Form 16 and salary slip
Self-Employed Individuals
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)
Employment Duration – 3 years minimum
The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
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 Karanja EMI Calculator
Car Loan Karanja Fees & Charges
Charges
New Car Loan
Used Car Loan
Interest Rate
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
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 Karanja Fees and Charges : Leading Banks – Apr 23 2024
Bank
Processing Fee
HDFC Bank Car Loan
(1999 - 4999) + Tax
Axis Bank Car Loan
1 % to 2.50%
Nil
Private Bank Car Loan
0.25% to 1.50%
SBI Car Loan
500/- to 0.50%
Nil
Kotak Car Loan
1% to 2%
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 Karanja Documents Required
Salaried Individual
Category
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)
Birth Certificate
High School Marksheet
Driving Licence
Signature Proof(Any 1)
Bankers Verification
Passport
Income Proof
Bank Statement
Employment Continuity Proof
ITR of Form no. 16
Salary Slip mentioned with joining date
Letter of Appointment
Self-Employed Individuals
Category
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)
Bankers Verification
Passport
Bank Statement
Employment Continuity Proof
Shop & Establishment Act Certificate
Shop & Establishment Act Certificate
Sales Tax or VAT Certificate
Business Proof
Telephone Bill/Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
Category
Identity Proof (Any 1)
Driving Licence
PAN Card
Aadhar Card
Passport
Address Proof (Any 1)
Aadhar Card
Driving License
Voter ID
Income Proof
P&L Account
ITR for the previous 2 years
Bank Statement
Last 6 month
Business Continuity Proof
Audited Balance Sheet
TAX registration Certificate
Current Account Statement
Additional documents
2. Private Limited/Limited Companies
Category
Identity Proof
Copy of Incorporation
Address Proof (Any 1)
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
Sales Tax Certificate
Income Proof
P&L Account and ITR for the previous 2 years
Bank Statement
Previous 6 Months
Business Continuity Proof
ITR of the Company of the past 2 years
Audited Balance Sheet
Shop & Establishment Act Certificate
Additional documents
Board Resolution
PAN Card
Certificate of Commencement of Business for Ltd. Co.
How to Get the Best Car Loan Interest Rates in Karanja
How to Apply for a Car Loan in Karanja?
Which Bank in Karanja Offers the Best Car Loans?
Car Loan for Major Car Manufacturers in Karanja
Processing Fees / Prepayment Charges on Car Loan Karanja
Category
Details
Processing Charges
Prepayment
Preclosure
Stamp Duty
Cheque Bounce Chgs
Floating Rate of Interest
Not Applicable
Overdue EMI Interest
Amortisation Schedule Chgs
Rs 200 + GST
CIBIL Score Required for Car Loan in Karanja
Car Loan Karanja Contact Number
Pre Calculated EMI Table for Car Loan Karanja
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 Karanja
FAQ’s About Karanja Car Loan
✅ What types of vehicles can I purchase with a car loan?
✅ Is it possible to acquire a loan on my current vehicle?
✅ What all is not covered in a car loan?
✅ Is a guarantor required for a car loan?