Car Loan Coimbatore

Best Banks for Car Loan in Coimbatore

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 Coimbatore Features

Now the dream of every common man of owning a luxury car will not be restricted by monetary constraints. Car Loans will help you finance your car at affordable rates and minimal documentation. No need to pay repeated visits to the banks. Apply for Car Loan online and get instant funds without any hassle.

This secured loan does not need any additional assets as collateral. The car you purchase through the loan acts as collateral itself. Moreover, if any individual wishes to buy a used or pre-owned car, they can do so by availing a used car loan. Car loans are a widely opted means of financing the car as almost all the major banks and NBFCs provide it with a flexible repayment structure.

Car Loan Coimbatore Interest Rate

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 Coimbatore Documents Required

Documents required for car loan are as followed:

For Salaried Individuals:

1. Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
2. Income Proof: Latest 3-month salary slip with form 16
3. Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
4. Bank Statement: Last 6 months.

For Self Employed Individuals:

1. Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
2. Income Proof: Latest Income Tax Return
3. Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
4. Bank Statement: Last 6 months.

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Car Loan Coimbatore Eligibility Criteria

The car loan eligibility requirements are as followed in Coimbatore:

For Salaried Individuals:

1. Minimum age: 21 years
2. Maximum age at loan maturity: 65 years
3. Minimum employment:  1 year in the current place of work and 2 years of total employment.
4. Minimum Annual Income: Rs 100000 net annual income.

For Self Employed Individuals:

1. Minimum age: 21 years
2. Maximum age at loan maturity: 65 years
3. Minimum employment:  A minimum of 3 years in business.
4. Minimum Annual Income:  Net profit of Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars

How to Apply for Car Loan in Coimbatore?

Availing a car loan Coimbatore is an easy process with Dialabank. Just follow some steps to avail the best offers:

• Visit our website and click on the car loan option available on the menu. Fill in the details regarding the car type and your income. Our relationship manager will soon get in touch with you on your provided number.
• You may also contact our relationship managers on the number +919878981166 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 Coimbatore

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Coimbatore

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 Coimbatore

CIBIL score plays an important role in the loan approval process. All the lending institutions consider CIBIL score as essential and should be above 800 for an applicant to be eligible for a car loan. However, this minimum score requirement varies from bank to bank.

Note that any pending dues or debts might create inconvenience in availing of a fresh car loan. Hence, it is advised that one must always keep a check and maintain their CIBIL score to avoid any problems.

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Car Loan Coimbatore Contact Number

Dial us up at +919878981166 to get more information about car loans at Coimbatore and we will give you the best advice to help you fulfill your dream easily, quickly and efficiently.

Pre Calculated EMI Table for Car Loan Coimbatore

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

You can calculate your EMI here: Car Loan EMI Calculator

About Coimbatore

Earlier known as Kovai, Coimbatore is a city in the Indian state, Tamil Nadu. Gass Forest Museum has a huge collection of preserved animals and tree trunks. It is popular for its textile mills, educational institutions, and manufacturing goods. The city is the healthcare and manufacturing hub of Tamil Nadu and is well linked by road, railways, and air.

Special Note: Banks do not provide Car Loans to applicants with poor credit history, but one can fulfill their money requirement with Gold Loan easily.

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Car Loan EMI Calculator