Best Banks for Car Loan in Karnal
|
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 Karnal Features
A car loan is a financial support provided by banks and NBFC’s to fulfil your dream of having your car. They provide necessary and required funding for purchasing a car that can be on Ex-Showroom Price or On-Road Price of the car for both a new and a used car. A car loan is a secured loan with easy EMI options available. A car loan can fulfil your dream of owning a car without having to take the burden of paying the lump-sum amount altogether. Some of the basic features of a car loan in Karnal are:
- Affordable interest rates
- No sort of charges charged by DialaBank
- Minimum documentation
- Instant loan disbursal
Car Loan Karnal 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 Karnal Documents Required
The following are the required documents for applicants from Karnal:
For Salaried Employees
- Identity Proof: Passport, PAN Card, Voters ID card, Driving License of the applicant.
- Address Proof: Ration card/Telephone Bill/Electricity Bill/Life Insurance Policy/PAN Card of the applicant, whichever is available with you
- Income Proof: Latest 3-month salary slip with form 16 of the applicant.
- Bank Statement: previous 6 months bank transaction statement of the applicant.
For Self Employed
- Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License of the applicant, whichever is available with you.
- Address Proof: Ration card/Telephone Bill/Electricity Bill/Life Insurance Policy/PAN Card of the applicant, whichever is available with you
- Bank Statement: previous 6 months bank transaction statement of the applicant
- Income Proof: Latest Income Tax Report of the applicant from Karnal.
Car Loan Karnal Eligibility Criteria
The eligibility criteria to be fulfilled by the applicants of Karnal are:
For Salaried Employee
- Minimum age: 21 years old for salaried and 30 years for self-employed
- Maximum age at loan maturity: 65 years old
- Minimum employment: 1 year in current employment and a total of 2 years of employment experience in the past
- Minimum Annual Income: Rs 100000 net annual income is considered in Karnal
For Self Employed
- Minimum age: 21 years old for salaried and 30 years for self-employed
- Maximum age at loan maturity: 65 years old
- Minimum employment: at least 3 years in business
- Minimum Annual Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 per annum for mid-sized and premium cars for the applicant of Karnal.
Car Loans for Major Car Manufacturers in Karnal
TABLE WILL APPEAR
Processing Fees & Prepayment Charges on Car Loan Karnal
| 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 Karnal
Every lending institution has its criteria for the minimum CIBIL score required for processing the Car Loan application in Karnal to minimize the risk of default. Most of these institutions require a CIBIL score of at least 750 or above to process your loan application. Also, having a good CIBIL score means you can avail loans at a cheaper interest rate.
The institutions don’t just look at your overall score but also the detailed behaviour on all the loans taken previously. This includes details on the type of loan taken, the amount borrowed, and also your efficiency of payments. Any delayed payments for previous loans can be a barrier to your availing of a fresh car loan.
Car Loan Karnal Contact Number
You can get a car loan Karnal easily from dialabank by contacting the number 9878981166. Or visit our website at Dialabank
Pre Calculated EMI Table for Car Loan Karnal
| 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 Karnal
Karnal is a city in Haryana, India, and is also the administrative headquarters of the Karnal District. Ancient the East India Company army used it as a refuge during the Indian Rebellion of 1857 in Delhi. The old Battle of Karnal between Nader Shah of Persia and the Mughal Empire took place in this city on 1739
