Car Loan Karanja     

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Best Banks for Car Loan in   Karanja                 

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 in   Karanja     

Car Loan in   Karanja

car loan

Car Loan   Karanja 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   Karanja 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   Karanja EMI Calculator

Car Loan   Karanja 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   Karanja 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 Karanja?

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:

How to Apply for a Car Loan in Karanja?

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

  • Reduced repayment term –In    Karanja, 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    Karanja at the lowest possible interest rate.
  • Research and compare offer from other 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    Karanja 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.
  • Maintain 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.

car loan

Which Bank in   Karanja Offers the Best Car Loans?

Many big banks and NBFCs, including HDFC, ICICI, and SBI, offer vehicle loans in  Karanja. So naturally, the ideal lender will be able to provide you with the loan amount you need at a reasonable interest rate and release the funds as quickly as feasible. Consequently, it’s always a good idea to compare auto loans from several lenders before settling on one that meets all of your needs.

Car Loan for Major Car Manufacturers in  Karanja


Processing Fees / Prepayment Charges on Car Loan Karanja

Category Details
Processing Charges
1999 - 4999 + Tax
No prepayment is allowed until 12 EMIs are paid
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  Karanja

The CIBIL score is a number that determines your capacity to repay your debts. A better credit score indicates a positive credit history and facilitates the processing of your auto loan application. In  Karanja, most banks and NBFCs consider a credit score of 750 or above to be an excellent score for approving your loan application. However, this score varies from one bank to the next. If your CIBIL score is below the required level, you will be forced to pay a high-interest rate on the loan amount, but if your CIBIL score is above the minimum level, you may be asked to pay a low rate of interest. As a result, while applying for a car loan, a CIBIL score is critical.

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Car Loan   Karanja Contact Number

In case of any queries regarding the car loan in Karanja, you may contact on the number 9878981166 for any assistance.

car loan

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

Karanja Lad is a municipal council city in the Washim district of Maharashtra, India. Karanja also goes by the name Karanja Lad. Saint Karanj is the name of the town. In commemoration of Muslim Queen Lad’anche Karanja, it is also known as “Lad’anche Karanja.” For Hindus, Jains, and Muslims, Karanja is a sacred site.

FAQ’s About   Karanja Car Loan

Is a car loan forgiven in case the applicant expires?

No, the death of the person who availed of the loan doesn’t mean that the loan will be waived off.

Is it possible to acquire a loan on my current vehicle?

Yes, if you have a strong payment history with your current lender, many lenders will grant you a loan on your current vehicle.

What options do I have for repaying my auto loan?

Standing Instruction (SI), Electronic Clearing Service (ECS), and Post-Dated Cheques are three options for repaying your loan (PDCs). However, it is usually advised that you return your loan using the first two options because they are speedier and have a lower risk of error, which is not the case with PDCs.

Is a guarantor required for a car loan?

To get a car loan, most lenders will not ask for a guarantor. However, if your income falls below the required minimum, lenders may want you to offer a guarantee or co-applicant to demonstrate that you will be able to repay the loan.

Where can I get an interest calculator for a car loan?

You can use the EMI calculator on the Dialabank website or the website of the lending bank. To calculate the EMIs, enter various interest rates. The interest rate can be obtained by filling out an application for a loan, which will require you to provide basic information such as your salary, company, and work experience, depending on which interest rates will be presented.