Car Loan Chennai

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Best Banks for Car Loan in Chennai

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 Chennai Features

Car Loan Chennai

The car has become an indispensable part of everybody’s life. Without it, no one can imagine life to run smoothly. But buying a car requires a large amount of financing and it is quite difficult to arrange finance with limited income. Getting a vehicle advanced in Chennai is the most ideal way and the most gainful technique to benefit money in a brief period.

Here in Dial-a-bank, we will help you to get the most affordable car loan with lesser interest rates. With some banks offering loan amounts in the lakhs, which means you are not limited in your choice of cars.

Car Loan Chennai 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

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Car Loan Chennai Documents Required

Documents required for car loan are as followed:

You will need any one of the Proofs of Identity like a Passport copy, PAN Card, Voters ID card, Driving License
You must show any one of the Proofs of Income for Salaried applicant is the Latest 3-month salary slip with form 16 and for Self Employed is the Latest Income Tax Returns (ITR)
You will need any one of the Proofs of Address like Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
Lastly, you will need 6 months of Bank Statement

Car Loan Chennai Eligibility Criteria

The car loan eligibility requirements are as followed:

1. SALARIED INDIVIDUALS

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.
Lowest Annual Income: Rs 100000 net annual income.

2. SELF-EMPLOYED INDIVIDUALS

Minimum age: 30 years
Maximum age at loan maturity: 65 years
Minimum employment: At least 2 years in business
Minimum Annual Income: Net profit Rs. 60,000 Per Annum for standard cars and Rs.1,00,000 Per Annum for mid-sized and premium cars

How to Apply for Car Loan in Chennai?

Visit us at dialabank
Go to the loan section and click on the auto loan link.
Fill out the form with details and submit the form.
We will contact you in a short period of time.
For further information please contact 9878981166.

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Car Loan for Major Car Manufacturers in Chennai

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Chennai

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 Chennai

A CIBIL score is a numeric score that describes an applicant’s ability to repay his past loans efficiently and regularly. Maintaining a good CIBIL score is essential if you want to avail of a Best Car Loan Interest Rate. Also, having a good CIBIL score increases the processing speed of your application.

Most of the banks except a 750+ score to process your car loan in Chennai but these may be higher or lower depending upon the individual requirements of the banks. The minimum CIBIL score requirement for car loan in Chennai may vary from bank to bank.

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Car Loan Chennai Contact Number

Customers can contact us at 9878981166 to get exclusive car loan deals right from your home or can apply

Pre Calculated EMI Table for Car Loan Chennai

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 Chennai

Chennai, on the Bay of Bengal in eastern India, is the capital of the territory of Tamil Nadu. The city is home to Fort St. George, implicit 1644 and now a gallery exhibiting the city’s underlying foundations as a British military battalion and East India Company exchanging station when it was called Madras. Strict locales incorporate Kapaleeshwarar Temple, enhanced with cut and painted divine beings, and St. Mary’s, a seventeenth-century Anglican church.

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