Best Banks for Car Loan in Idukki
Car Loan Idukki 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 Idukki Eligibility Criteria
The Eligibility Criteria for Car Loan Idukki are mentioned below:
| 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 Idukki EMI Calculator
The EMI Calculator for Car Loan Idukki are mentioned below:
Car Loan Idukki 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 Idukki Fees and Charges: Leading Banks –
| 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 Idukki Documents Required
The Documents Required for a car loan Idukki 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 Idukki
If you would like to induce a car loan Idukki in with a very cheap/low-interest rate, follow the steps below:
- Maintain a modest debt-to-income quantitative relation – The debt-to-income quantitative relation measures the proportion of the applicant’s financial gain towards loan compensation, and lenders consider this once setting interest rates. If your debt-to-income quantitative relation is lower, you’ve got a much better probability of obtaining a car loan with an affordable interest rate.
- Choose a shorter compensation term – several car loan candidates believe that lengthier compensation terms are higher as a result of the monthly EMI (equated monthly instalment) is low. they do not appear aware that lenders read lengthier payback terms as a sign of a borrower’s low compensation capabilities so that they charge higher interest rates.
- Research and also compare the perks offered by totally different lenders – If you would like to induce an honest deal on an automobile loan, you want to1st to explore and compare the advantages offered by totally different lenders. this will assist you to fathom that lenders have the simplest interest rates and, as a result, that investor to settle on.
How to Apply for a Car Loan in Idukki?
- Visit our website Dialabank.
- Click on the auto loan choice accessible within the menu
- Fill in the details concerning the automobile kind and your financial gain Wait as our relationship manager can presently get connected with you on your provided range.
- You may conjointly contact our relationship managers on 9878981166 just in case of any queries.
- To avail of a car loan offline, you’ll have to be compelled to visit the branch in person.
Which Bank in Idukki Offers the Best Car Loans?
A car loan is one of the best options that you can avail yourself of to buy your favourite car. There are many massive banks and NBFCs and HDFC, Private, and SBI supply vehicle loans in urban centres. the best investor will give you the loan quantity you wish at an affordable rate of interest and distribute the funds as quickly as possible. it’s continually a decent plan to check vehicle loans from several lenders before applying for one that meets all of your desires, like interest rates.
Car Loan for Major Car Manufacturers in Idukki
TABLE WILL APPEAR
Processing Fees / Prepayment Charges on Car Loan Idukki
| 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
|
|
>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 Idukki
The CIBIL score is mentioned as what defines your ability to pay off your credits. a better Credit score means smart credit history and makes your Car Loan application method sleek and straightforward to be processed. Mostly, banks and NBFCs think about a credit score of 750 and higher than a decent score to approve your application method in Idukki.
This score may all over again vary from bank to bank. just in case of a coffee CIBIL score than the desired price, you’ll need to pay a high rate charge per unit on the loan quantity, whereas if your CIBIL score is nice, you’ll have to be compelled to pay a coffee rate of interest.
Thus, a CIBIL score is crucial to consider a Car Loan. For more queries regarding Car Loans, customers should visit our website i.e. Dialabank.
Car Loan Idukki Contact Number
Everyone can’t manage a huge amount of cash at the same point in time to buy a car, so in these situations, a Car Loan can be availed. To know more about the car loan in Idukki, you can call us on 9878981166. Our employees can guide you at every phase.
Pre Calculated EMI Table for Car Loan Idukki
| 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 Idukki
Idukki is a district which is situated in Kerela. If you would like to want a car loan from Idukki, visit our website Dialabank and acquire the loan at an affordable rate of interest.
FAQ’s About Idukki Car Loan
✅ Is it smart to shut a Car Loan early?
You may wish to avoid the long compensation tenure by paying off the loan early. However, if the penalty quantity is far over the interest charges, it’s not an honest plan to proceed with the pre-closure. In reality, pre-closing a car loan is probably going to own little impact on your credit score.
✅ How much is that the minimum deposit on a car?
When you take a loan, some banks can expect you to pay a particular portion (usually five-hitter to 15%) of the automobile price to the dealer before they unharness the personal loan. this can be known as a deposit.
✅ Do Car Loans embrace registration fees?
Car loans don’t demand the insurance or registration fees that you simply got to pay at the time of shopping for the vehicle. automobile insurance must be purchased one by one and every vehicle registration-related prices even have to be borne by you as they’re not lined by your personal loan.
