Car Loan Dramman

Best Banks for Car Loan in Dramman

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 Dramman 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

You don’t want your budget to be affected when you buy a new car. Right? Thus, car loans are just the right thing for you, and with Dialabank, you can have access to car loans with ease. Moreover, our Relationship managers will cater their services so that you can avail of your loan in a matter of minutes.

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 on Ex-Showroom price or the car’s On-Road price. Moreover, they offered the lowest interest rates and minimum document process.

Car Loan Dramman

Car Loan Dramman Eligibility Criteria

The car loan eligibility requirements are as follows in Dramman:

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 Dramman EMI Calculator

Car Loan Dramman 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 Dramman Fees and Charges : Leading Banks – Apr 20 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 Dramman 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 Dramman

The interest rate for a car loan depends from bank to bank and the profile of the applicant. But we provide your car loan with interesting and reasonably low interest rates.

The interest rates start with 8.60% p.a. and may vary on the loan amount.

Choose a shorter repayment term – Because the monthly EMI (equivalent monthly instalment) is low, many vehicle loan applicants assume that longer repayment terms are better. Unfortunately, they don’t appear to realise that lenders see longer payback terms as a sign of a borrower’s poor repayment ability. Therefore they charge higher interest rates. Instead, consider a shorter payment time if you want to save money on your car loan.
Evaluate and compare the benefits provided by various lenders- If you want to get a good deal on a car loan, you should first examine and evaluate the different lenders’ features. This can assist you in determining which lenders offer the lowest interest rates and, as a result, which lender to choose.
Maintain a low debt-to-income ratio – The debt-to-income ratio is a calculation that lenders use to determine how much of an applicant’s income goes toward loan repayment. You have a higher chance of securing a car loan with a lower interest rate if your debt-to-income ratio is lower.
Maintain an excellent credit score – If you have a good credit score, lenders will be delighted to provide you with a car loan with lower interest rates. A credit score of 750 or more is considered healthy by lenders. Unfortunately, many lenders may provide negative credit applicants auto loans, but they will charge a higher interest rate. To ensure you have a decent credit score, check your credit scores regularly using DialaBank’s “Free Credit Score” service. If your credit score is bad, you’ll be able to take steps to improve it, and if your credit score is good, you’ll be able to approach lenders with trust.

How to Apply for a Car Loan in Dramman?

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

Visit Dialabank
Go to the loan section and select auto loan, followed by the car loan link.
The applicant will be directed to all the car loan details where they can choose their preferred city.
If you have any questions about the loan, you can call our relationship managers at 9878981166.
You will have to visit the bank in person to apply for a car loan, which may be inconvenient for you.

Which Bank in Dramman Offers the Best Car Loans?

Car loans are available from many large banks and NBFCs in Dramman, including HDFC, Private, and SBI. The best lender will be able to give you the loan amount you require at a reasonable interest rate and will be able to release the funds as soon as possible. Therefore, before applying for a car loan that fits all of your criteria, such as interest rates, it is usually a good idea to compare car loans from various lenders.

Car Loan for Major Car Manufacturers in Dramman

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Dramman

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 Dramman

CIBIL score reflects your credit history in the past and your defaults in repayment of your previous loans. A good credit score is 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 loan. A Lower CIBIL score than 750 can attract a higher rate of interest.

A low CIBIL score might lead to rejection of your loan as it is the first thing a bank tracks before processing your loan.

Car Loan Dramman Contact Number

For more information regarding car loans in Dramman, you can call on 9878981166.

Pre Calculated EMI Table for Car Loan Dramman

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 Dramman

Dramman is a small Village/hamlet in Rait Tehsil in Kangra District of Himachal Pradesh State, India. With Dialabank providing its services to all parts of the country, it is now feasible to access car loans.

FAQ’s About Dramman Car Loan

✅ Is it possible to negotiate interest rates?

Yes, car loan interest rates are not fixed. They are negotiable. If you are a long-term customer of a bank and have made on-time payments on past loans, they may consider revising your current interest rate.

✅ How do I pay your EMIs? What is prepaying?

You can pay your EMIs with post-dated cheques or by having your bank debit your account every month using the ECS (electronic clearing system) option. Although part payments are not permitted on car loans, you can pre-pay the entire debt after 6 to 1 year. However, it would help if you double-checked this guideline with your bank. If you pay ahead of time, you will be charged a penalty of 2-4 per cent of the outstanding balance.

✅ Is the registration charge included in the auto loan?

Car loans do not include insurance or registration fees, which must pay at the time of purchase. Car insurance, required by law, must be acquired separately, as must all vehicle your car loan does not cover registration-related expenditures.

✅ Is it a good idea to pay off a car loan early?

Paying off the loan early may be a good way to avoid the long repayment period. However, it is not smart to proceed with the pre-closure if the penalty amount is significantly higher than the interest charges. In reality, pre-closing a car loan is unlikely to have a significant impact on your credit score.

✅ Is insurance required for a car loan?

Yes, everyone who finances a vehicle is required to carry full coverage car insurance for the duration of their loan. Any car with a balance due on loan is still technically held by the lender. To protect their investment, lenders need consumers to have full coverage car insurance.