Car Loan Balod

Car Loan Balod

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Best Banks for Car Loan in Balod

Feature	HDFC Bank	Private Bank	Kotak Mahindra Bank
Interest Rate	8% - 8.4 %	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 Balod Features

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Purchasing a car from your pocket is a difficult task for the single earner of the family, but there is a saying if all of the doors are shut, there is always a ray of hope. Thus, Car Financing is the best way to attain cash in a short duration. It is a better way to arrange funds to purchase the dream car with ease.

We offer car loans starting at an attractive rate of interest to both self-employed as well as salaried individuals. We offer car loans either the car is new or used.

Some key features of car loans in Balod are the following:

Easy monthly repayment options are accessible for you.
Instantly car loans are available.
The loan tenure period is up to 7 years.
There is a provision of reasonable interest rates provides to fulfill your desires.
There are no hidden or supplementary charges.

Car Loan Balod Interest Rates

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

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Car Loan Balod Documents Required

Documents required for car loan are as followed:

For Salaried Individuals:

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

For Self Employed Individuals:

Identification Proof: Passport copy, PAN Card, Voters ID card, Driving License
Income Proof: Latest ITR
Address Proof(anyone): Ration card/ Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
Bank Statement: Last 6 months.

Car Loan Balod Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Applicants

Minimum age: 21 years
Maximum age at loan maturity: 65 years
Minimum employment: 1 year in current employment and a minimum of 2 years of employment
Minimum Annual Income: Rs.100000 net annual income

For Self-Employed Applicants

Minimum age: 21 years
Maximum age at loan maturity: 65 years
Minimum employment: At least 3 years in business
Minimum Annual Income: Net profit Rs. 60000 per annum for standard cars and Rs.100000 per annum for mid-sized and premium cars

Car Loan for Major Car Manufacturers in Balod

TABLE WILL APPEAR

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Processing Fees / Prepayment Charges on Car Loan in Balod

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 Balod

CIBIL score reflects your credit history in the past as well as your defaults in repayment of your previous loans. A good credit score is taken into consideration as 750 and above as most financial institutions ask for a high credit score. Every bank and NBFC has different criteria for a minimum CIBIL score they require to process your Car Loan Balod. A Lower CIBIL score than 750 can attract a higher rate of interest.

A very low CIBIL score can lead to rejection of your loan as it is the first thing a bank tracks before processing your car loan. Your record of previous loans is taken into consideration for a car loan. If there are any delayed payments for previous loans, it will create a hurdle for availing of a fresh loan.

Car Loan Balod Agent Contact Number

For any queries on Car Loan regarding the car loan in Balod, you can call us on 9878981166.

Pre Calculated EMI Table for Car Loan Balod

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

Car Loan EMI Calculator Balod

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About Balod

Balod is a town on the banks of river Tandula and a Nagar Palika in Balod district in Chattisgarh state, India. On 1 January 2012, it was notified as Civil District. It became the 27th district of Chattisgarh. It had a population of 32,432 in 2011.

Balod is at a distance of 44 km from Dhamtari and 58 km from Durg.