Best Banks for Car Loan in Kumbakonam
Car Loan Kumbakonam 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.
Car Loan Kumbakonam Interest Rate
Bank
Processing Fee
HDFC Bank Car Loan
(1999 - 4999) + Tax
Axis Bank Car Loan
1 % to 2.50%
Nil
Private Bank Car Loan
0.25% to 1.50%
SBI Car Loan
500/- to 0.50%
Nil
Kotak Car Loan
1% to 2%
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 Kumbakonam Documents Required
Documents required for car loan are as followed:
For salaried:
- 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:
- Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: Latest ITR
- 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 Kumbakonam Eligibility Criteria
The car loan eligibility for Kumbakonam is as follows:
For salaried:
- 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
- Minimum Annual Income: Rs 100000 net annual income
For self-employed:
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum employment: at least 3 years in business
- Minimum Annual Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars
Car Loan for Major Car Manufacturers in Kumbakonam
TABLE WILL APPEAR
Processing Fees & Prepayment Charges on Car Loan Kumbakonam
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 Kumbakonam
CIBIL score plays an important role in deciding the approval of a loan. The CIBIL score provides a clear picture of credit history and any outstanding dues standing against the applicant. The credit history is necessary to disburse the loan amount after checking the eligible CIBIL score. Normally, CIBIL scores 750 or above considered as good by many leading banks.
Car Loan Kumbakonam Contact Number
Apply online on the Dialabank site and get the best offers on a car loan with instant approval and extra benefits or make a call on this number 9878981166
Pre Calculated EMI Table for Car Loan Kumbakonam
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
Car Loan EMI Calculator
About Kumbakonam
Yes, you have to use your credit history and previous arrangement with the prospective bank or any other lender in Kumbakonam to negotiate the interest rate on your car loan. Regularly paying your past loans/credit cards EMI with your prospective bank or any other lender will help you get a car loan with a lower interest rate. A car loan can last anywhere between one to five years. The higher the EMI, the shorter your loan term, and the opposite is valid for longer car loan terms. Currently, only limited lenders are offering car loans on terms of up to seven years in Kumbakonam. If you are unable to meet the lending institution’s eligibility standard, such as monthly salary, age, or credit score, a loan guarantor or co-borrower is required. You can even apply for a car loan of your own.
FAQs about Car Loan Kumbakonam
✅ Can I get a loan to purchase a used car in Kumbakonam?
✅ What is the typical tenure of a car loan in Kumbakonam?
✅ Do I need a loan guarantor or co-borrower in Kumbakonam?
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