Best Banks for Car Loan in Panipat
| 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 Panipat Features
- Easy monthly repayment options
- Instantly available
- Loan Tenure period varies from 1-7 years
- Affordable interest Rates
- No hidden charges
- Quick approval with minimum documentation
Car Loan Panipat 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 Panipat Documents Required
Documents required for car loan are as followed:
- Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: For Salaried– Latest 3-month salary slip with form 16 / For Self Employed- Latest ITR
- Proof of Address: Driving license / Voters card /Ration card / Passport Copy / Electricity Bill / Life Insurance Policy /Telephone Bill / PAN Card
- Bank Statement: Last 6 months.
Apply for a Car Loan
Car Loan Panipat Eligibility Criteria
The requirement for car loan eligibility are as followed in Panipat:
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum employment: Salaried People- minimum of 2 years of employment experience and 1 year in current employment. For Self Employed– at least 3 years in business
- Minimum Annual Income: For Self- Employed Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars. For Salaried Rs 100000 net annual income.
Car Loan for Major Car Manufacturers in Panipat
TABLE WILL APPEAR
Processing Fees & Prepayment Charges on Car Loan Panipat
| 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 Panipat
Every lending institution has its criteria for the minimum CIBIL score required for processing the Car Loan application in Satara so that they can minimize the risk of lending to you. Most of the institutions require a minimum CIBIL score of 750 or above to process your loan application. Also, having a good CIBIL score helps to loans at a cheaper rate of interest.
CIBIL score when higher helps to get a low level of interest rate on car loans.
Car Loan Panipat Contact Number
You can contact us for all your loan queries on 9878981166, and we will be happy to assist you.
Pre Calculated EMI Table for Car Loan Panipat
| 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 Panipat
Panipat is a historical city in Haryana state. The city has witnessed three battles of life. It is popularly known as the “City of Weaver”. It is a city of carpets and textiles. It is one of the major cities in the state, and the total population of the city is 8.73 lakhs.
Panipat attractions include the Panipat battlefield memorial and Ibrahim Lodhi tomb.
Special Note: Banks don’t provide Car Loans to bad credit holders, but one can fulfill their money requirement with Gold Loan easily.
Car Loan EMI Calculator
