Car Loan Alathur

Best Banks for Car Loan in Alathur

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 Alathur 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

A car loan is a financial help offered by different banks and NBFC’s to buy a car. The banks provide the necessary funding for purchasing a vehicle which can be on Ex-Showroom price or the On-Road price of the car. Dialabank can help you find a loan with the lowest interest rates and minimum documentation.

Car Loan Alathur

Car Loan Alathur Eligibility Criteria

The car loan eligibility requirements are as follows in Alathur:

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

Car Loan Alathur EMI Calculator

Car Loan Alathur Fees & Charges

Charges	New Car Loan	Used Car Loan
Interest Rate	7.35% per annum	11.80% p.a. to 13.80% p.a.
Car loan Processing fees	0.5%	0.5%
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

Car Loan Alathur Fees and Charges : Leading Banks – Apr 22 2025

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 Alathur Documents Required

Documents required for a car loan are as follows:

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.

How to Get the Best Car Loan Interest Rates in Alathur

Follow the steps listed below to get the lowest interest rates in Alathur;-

Most car loan applicants often go for really long repayment tenures and end up paying a lot more in interest. Loans with short tenures have a low rate of interest and can end up working in the favor of the borrower.
Taking a loan is a big financial decision, so one must properly research all the banks and their offers so that they get a plan with the lowest interest rate and a repayment tenure that suits them.
A low debt-to-income ratio increases your chances of securing a loan, as the lender doesn’t have to worry about you not being able to pay off this loan because your income is going towards the repayment of an older loan.
A high credit score always comes in handy, be it short-term credit or a long-term loan. Most lenders prefer an individual with a credit score of 750 and above.

How to Apply for a Car Loan in Alathur?

Visit Dialabank website.
Select the auto loan section and choose car loan.
after choosing the car loan, fill the form with details.
Within a minute you will get a call from our experts.
Then, you can process the next step.

Which Bank in Alathur Offers the Best Car Loans?

Car loans are available from a number of lenders in Alathur, including HDFC, Private, and SBI. The best lender will be able to give you the loan amount you require at the lowest interest rate and will be able to disburse the funds as quickly as possible. Before applying for a vehicle loan that fits all of your criteria, such as interest rates, it is usually a good idea to compare vehicle loans from a variety of lenders.

Car Loan for Major Car Manufacturers in Alathur

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Alathur

To know the processing charges and Pre-payment charges of car loan Alathur, look at the below table:

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
Prepayment Charges	>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 Alathur

CIBIL score plays a key role while getting the loan. If your CIBIL score is between 750-900, then you will get quick loan approvals. If the CIBIL score is less than 700 then your application will be pending. So, check your CIBIL score before you apply for the loan. By paying off the loans on time you will slowly good CIBIL score.

Car Loan Alathur Contact Number

For instant help and any more queries, you can call 9878981166.

Pre Calculated EMI Table for Car Loan Alathur

Check here for Pre calculated EMI table for a car loan.

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 Alathur

Alathur is a town and panchayat in the Indian state of Kerala. This was in the Palakkad district of Kerala. it is the headquarters of Alathur taluk.

Car Loan Banks in Alathur

CENTRAL BANK OF INDIA	M M PLAZA, OPP. MINI CIVIL STATION, COURT YARD, SWATHI JUNCTION, DIST. PALAKKAD, KERALA 678541	CBIN0285013
CANARA BANK	POST BAG NO.7, 3470, MAIN ROAD, ALATHUR 678 541	CNRB0000739
DHANALAKSHMI BANK	V47-A, GROUND FLOOR I.G.TOWERS NEMMARA PALAKKAD	DLXB0000050
DHANALAKSHMI BANK	PERINKULAM, BANK ROAD ALLATHUR, PALAKKAD DIST. KERALA STATE, 678541	DLXB0000061
ESAF SMALL FINANCE BANK LIMITED	XV 1053,XV 1054,GF,TRICHUR TOWER,NEAR ALATUR COURT,COURT ROAD,ALATHUR,PALAKKAD 678541	ESMF0001113
FEDERAL BANK	A R MALL, SWATI NAGAR, COURT ROAD ALATHUR, PALAKKAD DIST	FDRL0001764
HDFC BANK	D-AP-111285COURT ROADALATHUR	HDFC0001527
STATE BANK OF INDIA	PINE APPLE TOWERS, MAIN ROAD, ALATHUR, DISTT.PALAKKAD.KERALA 678541	SBIN0017033
STATE BANK OF INDIA	PBNO15, COURT ROAD, ALATHURPO678541ALATHURATSBTCOIN	SBIN0070179
SYNDICATE BANK	1 FLR,15 BY 1384,RUCHI TOWERS,MAIN ROAD,NR NEW MASJID,PALAKKAD,ALATHUR,KE678541	SYNB0004456

FAQs about Alathur Car Loan

✅ What would happen if I fail to repay the loan on time?

If you keep failing to pay your EMI’s, the bank will take possession of your vehicle and sell it off to cover its losses.

✅ What should the borrower do after paying the last EMI?

Once the loan has been paid, the bank usually issues form 35 and NOC, which the borrower has to submit in the nearest RTO, to get the lender’s name removed from the RC.