Car Loan Mysore

Best Banks for Car Loan in Mysore

Feature	HDFC Bank	Private 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 Mysore Features

Having one’s own car is a necessity today, but it’s not always likely to have the required funds. This is where Dialabank helps you to avail car loans for both, brand-new as well as second-hand cars, and for both ex-showroom and on-road prices. If you are a resident of Mysore aka Mysuru, you get access to a range of interesting features of a car loan while having the liberty to pick your own tenure:

• Car loans are accessible at low-interest rates, which varies from bank to bank.
• Almost all major banks and NBFCs give car loans in Mysore in your vicinity
• The documentation process is fast and easy.
• Car loans are readily available through DialaBank since we ensure to fulfill your dream with great convenience.

Car Loan Mysore Interest Rates

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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
Private 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

Car Loan Mysore Documents Required

Documents required for car loan are as followed:

For Salaried Individuals:

1. 1. Identity Proof: Passport copy, Electoral Photo ID card, Driving License, or PAN Card can be used as Identity proof.
   2. Income Proof: Last 3 months salary slip or six months salary slip along with ITR.
   3. Address Proof: Life Insurance Policy, Driving License, PAN Card, Electoral Photo ID Card, and, Electricity Bill are valid address proofs.
   4. Bank Statement for the previous six months.

For Self-employed individuals:

1. 1. 1. Identity Proof: Passport copy, Electoral Photo ID card, Driving License, or PAN Card can be used as Identity proof.
      2. Income Proof: Income Tax Return.
      3. Address Proof: Life Insurance Policy, Driving License, PAN Card, Electoral Photo ID Card, and, Electricity Bill are valid address proofs.
      4. Bank Statement for the previous six months.

Car Loan Mysore Eligibility Criteria

The car loan eligibility requirements are as followed in Mysore:

For the salaried applicants:

1. Minimum age: 21 years
2. Maximum age at loan maturity: 65 years
3. Minimum employment:

•  1 year in current employment
• Minimum of 2 years of employment

4. Minimum Annual Income: For Salaried Rs 100000 net annual income.

For the self-employed applicants:

1. Minimum age: 30 years
2. Maximum age at loan maturity: 65 years
3. Minimum employment: At least three years in Business is required.
4. Minimum Annual Income:

• Net profit of  Rs. 60,000 per annum for standard cars
• Net profit of Rs.1,00,000 per annum for mid-sized and prime cars

How to Apply for Car Loan in Mysore?

Availing a car loan in Mysore through the Dialabank website an easy process. Follow the following steps to avail the best offers:

• Visit our website.
• 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 the number 9878981166 in case of any queries regarding the loan.
• For availing a car loan offline you will have to visit the branch personally, which might turn hectic for you. So we advise you to do it online!

Car Loan for major car manufacturers in Mysore

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan  in Mysore

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

CIBIL Score Required for Car Loan in Mysore

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The CIBIL score is committed to your ability to pay off your credits. A higher credit score means good credit history and makes your car loan application process smooth and easy. Mostly, banks and NBFCs hold a credit score of 750 and above as a good score to approve your loan application process in Mysore. This score may again range from bank to bank. In case of a lower CIBIL score than the necessary value, you will be required to pay a high rate car loan interest rate on the loan amount. Thus, a CIBIL score is a significant factor in a car loan.

Car Loan Mysore Contact Number

In case you have any queries regarding the car loan in Mysore, you may contact us on the number 9878981166 for assistance.

Pre Calculated EMI Table for Car Loan Mysore

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 Mysore

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In the state of Karnataka, Mysore aka Mysuru is known as its cultural capital due to its cultural ambiance and achievements, its heritage, and palaces such as the Mysore Palace, and its festivities during the occasion of Dasara when it attracts tourists from all over the world.

Car Loan EMI Calculator Mysore

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