Car Loan Bhikhi

Best Banks for Car Loan in Bhikhi

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 Bhikhi 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

Car Loan Bhikhi

When looking for a vehicle loan, check APRs from different lenders to ensure you’re receiving a good deal. Look for lenders who have a low-interest rate and offer flexible repayment arrangements.

Car Loan Bhikhi

Car Loan Bhikhi Eligibility Criteria

The car loan eligibility requirements are as follows in Bhikhi:

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 Bhikhi EMI Calculator

Car Loan Bhikhi 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 Bhikhi Fees and Charges : Leading Banks – Apr 28 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 Bhikhi Documents Required

Documents required for 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 Bhikhi

The interest rates on vehicle loans offered by different lenders in Bhikhi may vary, but they are all reasonable and competitive. If you want to get a car loan in Bhikhi with the lowest interest rate, follow the steps below:

Choose a shorter repayment term – Many car loan applicants believe that lengthier repayment terms are better because the monthly EMI (equated monthly instalment) is low. Unfortunately, they don’t seem aware that lenders view lengthier payback terms as indicating a borrower’s low repayment capabilities, so they charge higher interest rates. So, if you want to save money on your car loan, consider a shorter payments period.
Research and compare the perks offered by different lenders – If you want to get a decent deal on an auto loan, you must first explore and compare the benefits offered by different lenders. This can help you figure out which lenders have the best interest rates and, as a result, which lender to choose.
Maintain a modest debt-to-income ratio – The debt-to-income ratio measures how much of an applicant’s income goes toward loan repayment, and lenders consider this when setting interest rates. Therefore, if your debt-to-income ratio is lower, you have a better chance of getting a car loan with a lower interest rate.
Maintain a good credit score — Lenders will be pleased to offer you a car loan with cheaper interest rates if you have a good credit score. Lenders consider a credit score of above 750 to be healthy. Many lenders may give auto loans to people with bad credit but demand a higher interest rate. Check your credit scores regularly with Dialabank “Free Credit Score” service to guarantee you have a good credit score.

How to Apply for a Car Loan in Bhikhi?

Availing of a car loan Bhikhi is an easy process with Dialabank. Follow the following steps to avail of the best offers:

Visit our website Dialabank.
Click on the car loan option available in the menu
Fill in the details regarding the car type and your income
Wait as our relationship manager will soon get in touch with you on your provided number.
You may also contact our relationship managers on 9878981166 in case of any queries regarding the loan.
To avail of a car loan offline, you will have to visit the branch personally, which might be hectic for you.

Which Bank in Bhikhi Offers the Best Car Loans?

Many big banks and NBFCs, including HDFC, Private, and SBI, offer vehicle loans in Bhikhi. The finest lender is one that can provide you with the loan amount you need at a reasonable interest rate and can distribute the funds as quickly as feasible. Therefore, it is always a good idea to compare vehicle loans from many lenders before applying for one that meets all of your needs, such as interest rates.

Car Loan for Major Car Manufacturers in Bhikhi

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Bhikhi

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 Bhikhi

The CIBIL score is referred to as what defines your ability to pay off your credits. A higher Credit score means good credit history and makes your car loan application process smooth and easy to be processed. Mostly, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Bhikhi.

This score may again vary from bank to bank. If you have a low CIBIL score than the required value, you will be required to pay a high rate interest rate on the loan amount, while if your CIBIL score is good, you may have to pay a low rate of interest. Thus, a CIBIL score is an important factor in a car loan.

Car Loan Bhikhi Contact Number

In case of any queries regarding the car loan Bhikhi, you may contact on the number 9878981166 for any assistance.

Pre Calculated EMI Table for Car Loan Bhikhi

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 Bhikhi

Bhikhi is a town in the district Mansa of the Punjab state, India. It is very beneficial for an individual to take a Loan from Dialabank. All you have to do is to visit the Dialabank website.

Car Loan Banks in Bhikhi

HDFC BANK	HDFC BANK LTDMAIN MANSA SUNAM ROADBHIKHI	HDFC0001426
Private BANK LIMITED	Private BANK LTD SUNAM ROAD BHIKHI DIST MANSA PUNJAB	ICIC0003819
PUNJAB AND SIND BANK	SRI KARAM SINGH& NAIB SINGH SO LABH SINGH VPO BHIKKI MANDI, OPPOSITE OF SBI BANK, BHIKKI MANDI, DISTT MANSA – 151504, PUNJAB	PSIB0021402
STATE BANK OF INDIA	DIST MANSA 151504	SBIN0050379
UCO BANK	ADJOINING HP PETROL PUMP MANSA ROADDISTRICT MANSA	UCBA0003047
AXIS BANK	GROUND FLOOR, MUSTIL AND KILLA NO.125161(1-15), VILLAGE SAMAON, TEHSIL BHIKHI, DIST. MANSA, PUNJAB, PIN 151504	UTIB0002241

FAQ’s About Bhikhi Car Loan

✅ Is it possible to select the type of interest rate?

Like a home loan, there are two types of interest rates available: fixed and floating. Again, you can select the bank that provides the service you require.

✅ Is it possible to receive a loan to buy a used car?

Yes, you can get a loan to buy a used or second-hand car from a financial organisation. However, borrowing rates on such cars would be slightly higher.

✅ What happens if I don’t make my EMI payments on time?

You must make EMI payments regularly. Most banks will let you skip one or two payments. However, you may be considered a defaulter if you go beyond that. They’d be able to seize your vehicle if they wanted to.