Best Banks for Car Loan in Karanja
|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 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
Car Loan Karanja 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 Karanja EMI Calculator
Car Loan Karanja 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 Karanja fees: Leading Banks –
|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 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.
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 KaranjaTABLE WILL APPEAR
Processing Fees / Prepayment Charges on Car Loan Karanja
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 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.
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.
Pre Calculated EMI Table for Car Loan Karanja
|Rate||5 Yrs||4 Yrs||3 Yrs|
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.
Table of Contents
- 1 Best Banks for Car Loan in Karanja
- 2 Car Loan Karanja Features
- 3 Car Loan Karanja Eligibility Criteria
- 4 Car Loan Karanja EMI Calculator
- 5 Car Loan Karanja Fees & Charges
- 6 Car Loan Karanja fees: Leading Banks –
- 7 How to Get the Best Car Loan Interest Rates in Karanja?
- 8 How to Apply for a Car Loan in Karanja?
- 9 Which Bank in Karanja Offers the Best Car Loans?
- 10 Car Loan for Major Car Manufacturers in Karanja
- 11 Processing Fees / Prepayment Charges on Car Loan Karanja
- 12 CIBIL Score Required for Car Loan in Karanja
- 13 Car Loan Karanja Contact Number
- 14 Pre Calculated EMI Table for Car Loan Karanja
- 15 About Karanja
- 16 FAQ’s About Karanja Car Loan
- 17 ✅ Is a car loan forgiven in case the applicant expires?
- 18 ✅ Is it possible to acquire a loan on my current vehicle?
- 19 ✅ What options do I have for repaying my auto loan?
- 20 ✅ Is a guarantor required for a car loan?
- 21 ✅ Where can I get an interest calculator for a car loan?