Best Banks for Car Loan in Kakinada
Car Loan Kakinada Features
A car loan is a financial help provided by banks and NBFC’s to fulfill your dream of having your car.
A car loan provides necessary funding for purchasing a car which can be on Ex-Showroom Price or On-Road Price of the car. A car loan is a secured loan with easy repayment options and a simple application process.
The loan amount is offered on Interest charges which vary from bank to bank. One can pay for the vehicle in easy installments.
Car Loan Kakinada 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
Car Loan Kakinada Documents Required
Documents required for a car loan are as followed:
For Salaried Individuals:
- Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: Latest 3-month salary slip with form 16
- Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
For Self Employed Individuals:
- Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: Latest Income Tax Return
- Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
Car Loan Kakinada Eligibility Criteria
The car loan eligibility requirements are as followed in Kakinada:
For Salaried Individuals:
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum employment: 1 year in the current place of work and 2 years of total employment.
- Minimum Annual Income: Rs 100000 net annual income.
For Self Employed Individuals:
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum employment: A minimum of 3 years in business.
- Minimum Annual Income: Net profit of Rs. 60000 p.a. for standard cars and Rs.100000 p.a. for mid-sized and premium cars
How to Apply for a Car Loan in Kakinada?
Availing of a car loan from Kakinada is an easy process with Dialabank. Just follow some steps to avail the best offers:
-
- Visit our website and click on the car loan option available on the menu. Fill in the details regarding the car type and your income. Our relationship manager will soon get in touch with you on your provided number.
- You may also contact our relationship managers on the number +919878981166 in case of any queries regarding the loan.
- For availing of a car loan offline you will have to visit the branch personally, which might turn hectic for you. So we advise you to do it online!
Car Loan for Major Car Manufacturers in Kakinada
TABLE WILL APPEARProcessing Fees & Prepayment Charges on Car Loan Kakinada
Category
Details
Processing Charges
Prepayment
Preclosure
Stamp Duty
Cheque Bounce Chgs
Floating Rate of Interest
Not Applicable
Overdue EMI Interest
Amortisation Schedule Chgs
Rs 200 + GST
CIBIL Score Required for Car Loan in Kakinada
Most of these institutions require a minimum score of CIBIL of 750 or above to process your loan application. Also having a good CIBIL score helps to get a loan at a cheaper rate of interest on car loans in Kakinada.
The institutions don’t just look at your overall score but also the detailed behavior on all the loans taken previously. This includes details on the type of loan taken and the amount borrowed and also your efficiency of payments. Any delayed payments for previous loans can act as a barrier to your availing of a fresh car loan.
Apply for a Car LoanCar Loan Kakinada Contact Number
Dial us up at +919878981166 to get more information about car loans at Kakinada and we will give you the best advice to help you fulfill your dream easily, quickly, and efficiently.
Pre Calculated EMI Table for Car Loan Kakinada
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 Kakinada
Kakinada is the 6th largest city of Andhra Pradesh. It lies on the coast of the Bay of Bengal. Kakinada is known for its sweet called Khaja which became a famous recipe known as Kakinada Raja. Kakinada used to be ruled by Dutch India and British East India Compay.
Kakinada is famous for its port and cinema road. It has a total population of around 5 lakh.
Special Note: Banks do not provide Car Loans to bad credit holders, but one can fulfill their money requirement with Gold Loan easily.
Apply for a Car LoanCar Loan EMI Calculator
Other Cities for Car Loan in Andhra Pradesh
| Car Loan Gudur | Car Loan Cuddapah |
| Car Loan Gudivada | Car Loan Chittoor |
| Car Loan Gannavaram | Car Loan Chinnamiram |
| Car Loan Eluru | Car Loan Chilakaluripet |
