Car Loan Bodinayakanur

Best Banks for Car Loan in Bodinayakanur

Car Loan Bodinayakanur 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

An automobile Loan is a fund offering for people to acquire a car. A car loan permits the person to pay in instalments instead of spending the automobile immediately. It demands a minimum process of documentation and lowers costs.

Car Loan Bodinayakanur

Car Loan Bodinayakanur Eligibility Criteria

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 Bodinayakanur EMI Calculator

Car Loan Bodinayakanur 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 Bodinayakanur Fees and Charges: Leading Banks – Apr 08 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 Bodinayakanur Documents Required

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 Bodinayakanur

The rates of interest on automobile loans in Bodinayakanur may change, but they are moderate and competitive. If you want a car loan with the lowest interest rate in Bodinayakanur, complete the following steps:

A credit rating shows the lender that your financing is less dangerous, as shown by the score, as you have paid on time in the past.
The amount of money you loan influences your vehicle loan interest rate. Therefore, you can get a lower rate if you choose a larger loan amount.
If you have an excellent payment and business history, companies may be willing to provide you with a cheap interest rate on a car loan.
You may be eligible for a decreased interest rate when you earn more money since higher incomes reflect stronger repayment capacity.
If the debt-to-income value is little, consumers will obtain a better chance at a lower price of a new mortgage.

How to Apply for a Car Loan in Bodinayakanur?

To use Car Loan Bodinayakanur:

Select the car loan choice from the drop-down menu, check our website. Enter the car facts and your income. Wait then for our financial advisor to contact you at your telephone number. You can call our Relation Manager at 9878981166 if you have any questions concerning the loan.
This can be a stressful circumstance for you to go to the branch itself.

Which Bank in Bodinayakanur Offers the Best Car Loans?

Several major banks and financial non-banks offer auto loans in the city. The best lender will naturally give you the loan at a fair value and distribute the funds as soon as possible. It is always a good idea to examine different lenders’ vehicle loans before applying for one that fulfils all your criteria, such as interest rates.

Car Loan for Major Car Manufacturers in Bodinayakanur

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Bodinayakanur

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 Bodinayakanur

The CIBIL scoring represents your past credit history and all previous credit defaults. Due to the high credit value that most financial institutions demand, the decent credit rating is 750 or above. Nevertheless, every bank and NBFC has their own minimum standards for a CIBIL loan score. Therefore, if a CIBIL score of less than 750, the interest rate may be higher.

A poor CIBIL score may cause your loan to be declined, as this is the first item a bank examines before your application is completed.

Car Loan Bodinayakanur Contact Number

In case of any queries regarding the Car Loan in Bodinayakanur, you may contact on the number 9878981166 for any assistance.

Pre Calculated EMI Table for Car Loan Bodinayakanur

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 Bodinayakanur

In the State of Tamil Nadu, India, Bodinayakanur is a town and municipality. It’s in the district of Theni.

Car Loan Banks in Bodinayakanur

Bank Name	bank Address	IFSC Code
CENTRAL BANK OF INDIA	PRASAD COMPLEX, 2231, KAMAIAJ BAZAR, NEAR TOWN POLICE STATION, BODINAYAKANUR, DIST-THENI, TAMILNADU-625513	CBIN0280917
CITY UNION BANK LIMITED	NEAR LIC OFFICE, THEVARAM ROAD, BODINAYAKANUR 625 513 THENI DIST	CIUB0000346
CANARA BANK	NO.16, KAMARAJAR BAZAR, BODINAYAKANUR – 625513, DISTTHENI	CNRB0001002
HDFC BANK	HDFC BANK LTD NO61 PERIYANDAVAR ROAD BODINAYAKANUR THENI TAMIL NADU 625513	HDFC0004057
INDIAN BANK	1013 URUMIKARAN STREET BODINAYACKANUR 625513	IDIB000B042
INDIAN OVERSEAS BANK	5, PERIYANDAVARPURAM STREET NEAR POLICE STATION BODINAYAKANUR THENI DIST 625513	IOBA0002574
KARUR VYSYA BANK	P.B. NO. 14 2273 KAMARAJ BAZAAR, I FLOOR, BODINAYAKANUR-625513	KVBL0001115
STATE BANK OF INDIA	44 P H ROAD DISTT THENI TAMIL NADU 625513	SBIN0000821
SOUTH INDIAN BANK	DONO42 , WARD NO 22, DRVASUDEVAN BUILDING, UTHAMAPALAYAM ROAD, OPP BODINAYAKANNUR BUS STAND, BODINAYAKANNUR, THENI, TAMIL NADU-625513	SIBL0000200
TAMILNAD MERCANTILE BANK LIMITED	22.PONNAMBALAM STREET, BODINAYAKANUR-625513	TMBL0000180
AXIS BANK	ARUNAKASH COMPLEX 24 2 DEVARAM ROAD BODI PIN 626513	UTIB0002671

FAQ’s About Bodinayakanur Car Loan

✅ Is there a best time within the month to make an extra payment towards the Loan?

Yes, the last day on which the lender/bank will credit you for the current month is the best time within the month to make an extra payment.

✅ Should you pay the principal amount or the interest first?

The principal amount is the amount of your car, i.e. the actual debt you owe, but interest is the percentage of the Loan, which is basically profit for your lender. Hence, you should always try to reduce your interest first as it is an extra payment.

✅ Is it good to make your Car Loan payment early?

Absolutely! You Car Loan amount includes interest which is usually high. So, if you have extra cash with you, you should consider repaying your Loan early so that you save money on the total interest owed.