Car Loan Kolar

Car Loan Kolar

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Major Car Loan Providers in Kolar

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 Kolar Features

A car loan is a financial help provided by banks and NBFC’s to fulfill your dream of having your own car. They provide 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. The loan amount is offered on Interest charges which vary from bank to bank. One can pay for the vehicle in easy installments.

Features of car loan in Kolar are:

Easy monthly repayment options
Instantly available
Loan Tenure period varies from 1-7 years
Affordable car loan interest Rates
No hidden charges
Quick approval with a minimum documentation

Car Loan Kolar Interest Rate

Apply for a Car Loan

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 Kolar Documents Required

Documents required for car loan are as followed:

For Salaried Employee

Identity Proof required is a copy of Passport, PAN Card, Voters ID card, Driving License
Income Proof For Salaried persons is the Latest 3-months salary slip with form 16
Address Proof required is one of the following: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
And the Bank Statement of the Last 6 months.

For Self Employed

Identity Proof required is a copy of Passport, PAN Card, Voters ID card, Driving License
The latest ITR of the firm of the applicant
Address Proof required is one of the following: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
And the Bank Statement of the Last 6 months.

Car Loan Kolar Eligibility Criteria

The car loan eligibility criteria requirements are as followed in Kolar:

For Salaried Employee

The minimum age criteria for applying for a car loan is 21 years.
The Maximum age at loan maturity can not be more than 65 years
The Minimum employment required for Salaried individuals is 1 year in current employment and a minimum of 2 years of employment
The Minimum Annual Income Required For Salaried individuals is Rs 100000 net annual income

For Self Employed

The minimum age criteria for applying for a car loan is 21 years.
The Maximum age at loan maturity can not be more than 65 year
The Minimum Annual Income Required For Salaried individuals is Rs 100000 net annual income

Car Loan for Major Car Manufacturers in Kolar

Apply for a Car Loan

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Kolar

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 Kolar

CIBIL score reflects your credit history in the past as well as your defaults in repayment of your previous loans. A good credit score is considered as 750 and above as most of the 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 very 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 Kolar Contact Number

For more information on a car loan in Kolar, you can call us on 9878981166.

Or you can also visit us at Dialabank.

Pre Calculated EMI Table for Car Loan Kolar

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 Kolar

Kolar is a city in Karnataka famous for its gold mines and milk production. Kolar is also famous for the Someshwara temple and the Kolaramma temple. Kannada is the official language used in Kolar.

Special Note: Banks do not provide Car Loans to bad credit holders, but one can fulfill their money requirement with Gold Loan easily.