Car Loan Kargil 

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Best Banks for Car Loan in  Kargil             

Car Loan in  Kargil 

Car Loan in  Kargil

   

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

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Car Loan  Kargil 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  Kargil 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  Kargil EMI Calculator

Car Loan  Kargil 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  Kargil 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 Kargil?

The interest rates on vehicle loans offered by different lenders in   Kargil may vary, but they are all reasonable and competitive. If you want to get a car loan in  Kargil with the lowest interest rate, follow the steps below:

How to Apply for a Car Loan in  Kargil?

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

  • Reduced repayment term –In   Kargil, 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   Kargil 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   Kargil 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  Kargil Offers the Best Car Loans?

Many big banks and NBFCs, including HDFC, ICICI, and SBI, offer vehicle loans in Kargil. 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 Kargil

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Kargil

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

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 Kargil, 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  Kargil Contact Number

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


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Pre Calculated EMI Table for Car Loan  Kargil

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  Kargil

Kargil is the joint capital of the Indian union territory of Ladakh and is located in the Kargil district. After Leh, Kargil is the second largest town in Ladakh. It is 204 kilometres east of Srinagar and 234 kilometres west of Leh. Kargil is the heart of the Suru River valley, also known as Purig in the past.

FAQ’s About  Kargil 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.

 

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