Car Loan Karunagapally

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Rates as low as 7.05%*
Up to 100% Funding
Doorstep Service
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Unbiased Experts Advice

Best Banks for Car Loan in Karunagapally

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 Karunagapally 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 Karunagapally

 

Car Loan Karunagapally 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 Karunagapally EMI Calculator

Car Loan Karunagapally 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

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Car Loan Karunagapally charges: Leading Banks – Sep 21 2021

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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Car Loan Karunagapally Documents Required

Salaried Individual

Category
Documents Required
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)
Passport
Birth Certificate
High School Marksheet
Driving Licence
Signature Proof(Any 1)
PAN
Bankers Verification
Passport
Income Proof
Salary Slip and latest Form No.16
Bank Statement
Last 6 month Bank statement
Employment Continuity Proof
Job card by NREGA
ITR of Form no. 16
Salary Slip mentioned with joining date
Letter of Appointment

 

Self-Employed Individuals

Category
Documents Required
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)
PAN
Bankers Verification
Passport
Bank Statement
Bank statement of last 6 months
Employment Continuity Proof
Latest ITRs
Shop & Establishment Act Certificate
Shop & Establishment Act Certificate
Sales Tax or VAT Certificate
Business Proof
Registration Certificate
Telephone Bill/Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate

 

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

Category
Documents Required
Identity Proof (Any 1) Driving Licence
PAN Card
Aadhar Card
Passport
Address Proof (Any 1)
Electricity Bill/Telephone Bill
Aadhar Card
Driving License
Voter ID
Income Proof
Audited Balance Sheet
P&L Account
ITR for the previous 2 years
Bank Statement Last 6 month
Business Continuity Proof
Company ITR of the last 2 years
Audited Balance Sheet
TAX registration Certificate
Current Account Statement
Additional documents
Letter of Authority or PAN Card

 

2. Private Limited/Limited Companies

Category
Documents Required
Identity Proof
The latest copy of MOA and AOA
Copy of Incorporation
Address Proof (Any 1)
SSI/MSME Registration Certificate
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
Sales Tax Certificate
Income Proof
Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Previous 6 Months
Business Continuity Proof
P&L account and
ITR of the Company of the past 2 years
Audited Balance Sheet
Shop & Establishment Act Certificate
Additional documents
List of Shareholding partners and Directors
Board Resolution
PAN Card
Certificate of Commencement of Business for Ltd. Co.

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How to Get the Best Car Loan Interest Rates in Karunagapally

Varying lenders in Karunagapally offer different interest rates on automobile loans, but they are all sensible and competitive. Follow the steps below to acquire a vehicle loan in Karunagapally with the lowest interest rate:

  • Choose a shorter repayment term –Many auto loan applicants believe that lengthier repayment terms are better since the monthly EMI (equated monthly instalment) is low. They don’t, unfortunately. Seem to realize that lenders view longer payback terms as a sign of a borrower’s poor repayment ability. Thus more excellent interest rates are charged.
  • Evaluate and compare the benefits provided by various lenders. If you want to get a decent deal, bargain on an auto loan, you should first look into and evaluate the different lenders’ perks. This can assist you in determining which lenders provide the lowest interest rates and, as a result, which lender to select.
  • Maintain a modest debt-to-income ratio –Lenders employ a debt-to-income ratio computation to assess how much of an applicant’s income goes toward loan repayment. The debt-to-income ratio is greater than 50%, and you should consider consolidating your debt. Lower, you have a greater chance of qualifying for a reduced interest vehicle loan.
  • Maintain a good credit score — Lenders would happily supply you with a vehicle loan with reduced interest rates if you have a high credit limit. A credit limit of 750 or more is considered excellent. Vehicle loans are available to people with bad credit, but they will pay a higher interest rate. As a precaution, a decent credit score, check your credit scores periodically using Dialabank’s “Free Credit Score” service. If your credit score is strong, you’ll be able to approach lenders with confidence.

How to Apply for a Car Loan in Karunagapally?

Dialabank makes getting a vehicle loan in Karunagapally a simple affair.

  • Go to Dialabank’s website.
  • Go to the menu and select the auto loan option.
  • Fill in the information about the vehicle and your income.
  • Please be patient as our relationship manager will contact you as soon as possible at the phone number you gave.
  • You may also get in touch with managers. If you have any questions, don’t hesitate to get in touch with the management at 9878981166.
  • To apply for a car loan offline, you must go to the branch in person, which may be inconvenient for you.

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Which Bank Karunagapally offers the Best Car Loans?

Vehicle loans are available from large banks and NBFCs Karunagapally, including HDFC, ICICI, and SBI. The best lender will be able to offer you the loan amount you require at a fair interest rate and will be able to disburse the cash as soon as possible. As a result, it’s always a good idea to shop around for auto loans from various lenders before settling on one that fits interest rates, among other things, are among your needs.

Car Loan for Major Car Manufacturers in Karunagapally

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Karunagapally

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 Karunagapally

The CIBIL score is a numerical measure of a person’s ability to communicate effectively. Your ability to repay your obligations. A higher credit score shows that you have a good credit history, making your auto loan application easier to execute. When accepting your loan application, banks and NBFCs in   Karunagapallytypically look for a credit score of 750 or above. Banks and NBFCs in   Karunagapallyusually consider a credit score of 750 and above good when approved your loan application.

From one bank to the next, this score may vary. For example, if your CIBIL score is below the required level, you may be charged a high interest rate on the loan amount, but if your CIBIL score is high, you may be charged a low interest rate. As a result, while applying for a vehicle, a CIBIL score is quite important.


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Car Loan Karunagapally Contact Number

If you have any queries about the car loan inKathlal, please do not hesitate to contact us. Furthermore, you may call 9878981166 for help.


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Pre Calculated EMI Table for Car Loan Karunagapally

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 Karunagapally

It is 27 kilometres from Karunagappally. It has rail and road links to Kollam, which is north of the town. The Titanium Factory, which uses lighted sand as raw material, is based in this little seaside village. A Buddha statue was salvaged from a local tank and now resides in the Krishnapuram Palace, just north of Ochira.

 

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Car Loan Banks in Karunagapally

BANK OF BARODA 1ST FLOOR FLOOR, K P11624, BHAVANI TRADE CENTRE, KARUNAGAPALLY, QUILLON DSTRICT, KERALA-690518 BARB0KARUNA
CENTRAL BANK OF INDIA CENTRAL BANK OF INDIA SUPREME TOWERS, PADA SOUTH KSRTC-MARKET ROAD CITY- KARUNAGAPALLY PIN CODE- 690518 CBIN0284805
CANARA BANK NOOR BUILDING, MAIN ROAD, KARUNAGAPALLY, KOLLAM DIST, KERALA – 690 518 CNRB0002896
CORPORATION BANK DOOR NO.KPIX453 MAIN ROAD, ALUMKADAVU PO 690573 CORP0000345
CORPORATION BANK PP 13 953 KARAMEL BUILDING KUTTIVATTOM JUNCTION KUTTIVATTOM KARUNAGAPALLY TALUK KOLLAM DIST KERALA CORP0001626
DHANALAKSHMI BANK ANNEXE EXCLLENCY BUILDING KARUNAGAPALLY, KOLLAM DLXB0000184
HDFC BANK BHAVANI TRADE CENTRE,HIGH SCHOOL JUNCTIONKARUNAGAPPALLY, DIST-KOLLAM HDFC0001505
ICICI BANK LIMITED ICICI BANK LTD, PUTHUMANAYIL, BUILDING,OPP UNION BANK, KARUNAGAPALLY-690518, KERALA. ICIC0006348
INDIAN BANK DEVASWOM BLDG KARUNAGAPPALLY KOLLAM 690518 IDIB000K024
STATE BANK OF INDIA MARKET.ROAD,KARUNAGAPALLY,DIST.KOLLAM,STATE.KERALA,PIN.690518. SBIN0004405
STATE BANK OF INDIA PBNO1,KARUNAGAPPALLYPO690518KARUNAGAPALYATSBTCOIN SBIN0070056
STATE BANK OF INDIA SUPREMETOWERS,MARKETROAD,KARUNAGAPPALLY690518PSBKARUNAGAPALLYATSBTCOIN SBIN0071008
SOUTH INDIAN BANK DONO28072, WARD NOIII, Musaliar Building, Ground Floor, Old High way, Opposite Govt Welfare School, Pada South, Karunagapally,Kerala-695018 SIBL0000140
SYNDICATE BANK KP X BY 218 VALIYATH PLAZA,NH 247 OPP KSRTC BUS STAND,KARUNAGAPALLY,,KOLLAM, ,690 518 SYNB0004510
UCO BANK KARUNAGAPALLY,GROUND FLOOR 32933,MUSALIYAR DNEAR KSRTC BUS STAND,KOLLAM-DIST 690518 UCBA0002560
AXIS BANK NO.1801 TO 1805, PAPAS BUILDING, BITTU VIHAR, PADA NORTH,ADJACENT TO GOVT HOSPITAL, KARUNAGAPALLY, DIST.KOLLAM, KERALA, PIN- 690518 UTIB0002175

FAQ’s About Karunagapally Car Loan

✅ Is it feasible to get a loan for my existing car?

Yes, many lenders will enable you to refinance your current car, provided you have a good payment history with your present lender.

With a car loan, what kinds of automobiles can I buy?

Automobile loans may be used to buy a variety of passenger vehicles, such as SUVs, MUVs, and other types of vehicles. A car loan may be utilized for a variety of purposes. First, buy a vehicle for commercial reasons. Tractor, truck, and construction equipment loans are also available through some lenders.

 What are my choices for repayment? 

Your loan can be paid back in three ways. First, standing Instruction for Electronic Clearing Service (ECS) (SI). The first two ways are recommended for repaying your loan since they are speedier and have a smaller chance of error than the third method, Post-Dated Cheques, which is not the case (PDCs).

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