Best Banks for
Car Loan Karapakkam 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
Owning a car is everyone’s dream, and it remains a dream for most people for the rest of their life because they are unable to save that amount of money and didn’t have the proper resources to do so. The best solution for this is getting a car loan. You can get a car loan easily by following easy steps and bring your car to your home.
If you live in Karapakkam, this article is for you to help you with the car loan. In this, you can check and compare the interest rate, processing fees, loan tenure and many more terms of top banks for free. If you wish to apply, you can even apply here and get a car loan in 30 minutes.
The car loan eligibility requirements are as follows in Karapakkam: 7.35% per annum Documents required for a car loan are as follows: The interest rate offered on a car loan varies from one bank to other in Karapakkam. These all are reasonable and competitive. If you wish to get an auto loan in Karapakkam at the best rate of interest, follow the steps given below- Availing of a car loan in Karapakkam can be a simple process with DialaBank. Follow the following steps given below to avail of the best offers: Many leading banks provide car loans in Karapakkam, including HDFC, Private, SBI and Axis Bank. The best choice will be to provide your loan amount at a reasonable rate of interest with a quick funds distribution facility. To select the best choice, it is recommended to compare vehicle loans before selecting any one bank. TABLE WILL APPEAR The CIBIL score defines applicants ability to pay back credits. A higher credit score indicates your good credit history and makes your process of getting a car loan easy and smooth. Mostly, Banks consider a credit score of 750 or above 750 a good score to approve for loan application easily. This score is different from bank to bank. If your credit score is low, banks would ask for a high-interest rate on the loan amount. This would not be the case with a high credit score. Conversely, if you have a high credit score, there is more possibility of getting a loan at a low rate of interest. Thus, a credit score plays an important role in getting a car loan. If you have any queries regarding the car loan in Karapakkam, you can contact 9878981166 for any assistance. Karapakkam is a residential neighbourhood in Chennai, Tamil Nadu, India. It is one of the stations along the Old Mahabalipuram Road, or OMR, as more popularly known. It is located between the Thoraipakkam and Sholinganallur IT hubs. On the ECR Highway, it runs parallel to Injambakkam. Karapakkam, a suburb of Greater Chennai (population: 4500), is home to several BPO, IT/ITES, and other IT/ITES firms. Visit dialabank.com and get fast assistance. An applicant has three options for EMI payment. These options include Standing Instruction (SI), Electronic Clearing Service (ECS), and Post-Dated Cheques. An applicant can calculate EMI by using the Dialabank EMI calculator. This is a simple EMI calculator in which you can check your EMI to get paid monthly by following some simple steps. Interest rates are mainly of 2 types. First is the fixed interest rate, and floating interest rate applicants should choose the type according to their convenience.
Car Loan Karapakkam 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 Karapakkam EMI Calculator
Car Loan Karapakkam 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 Karapakkam Fees and Charges: Leading Banks – Apr 25 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 Karapakkam 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 Karapakkam
How to Apply for a Car Loan in Karapakkam?
Which Bank in Karapakkam Offers the Best Car Loans?
Car Loan for Major Car Manufacturers in Karapakkam
Processing Fees / Prepayment Charges on Car Loan Karapakkam
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 Karapakkam
Car Loan Karapakkam Contact Number
Pre Calculated EMI Table for Car Loan Karapakkam
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 Karapakkam
FAQ’s About Karapakkam Car Loan
✅ How can I make an EMI payment for a car loan?
✅ How can I calculate the monthly instalment for a car loan?
✅ What are the types of interest rates?