Car Loan Madanapalle

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Best Banks for Car Loan in Madanapalle

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 Madanapalle Features

Are you looking for a car loan? If yes, then your wait for this is over here as we at Dialabank brings you amazing offers for a car loan in Madanapalle. We provide you with the lowest interest rates for car loans Madanapalle, which you won’t find elsewhere.

We offer Car loans for both Salaried and self-employed people. We offer car loans on used as well as new cars.

A car loan is a kind of financial help provided by banks and NBFC’s to fulfil your dream of having your own car. They offer necessary financial resources for buying a car which can be on On Road Price or Ex-showroom Price of the car. A car loan is a secured loan with viable options for refund. The loan amount is provided on Interest charges which vary from bank to bank. One can pay for the vehicle purchased in easy instalments. Car Loan madanapalle

Car Loan Madanapalle Interest Rates

Feature	HDFC Bank	Private Bank	Kotak Mahindra Bank
Interest Rate	8% - 8.4 %	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

To check Car Loan Interest Rates for all major banks, you can visit: Car Loan Interest Rates

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Car Loan Madanapalle Documents Required

Documents required for car loan are as followed:

For Salaried Individuals:

Proof of Identification: Passport copy, PAN Card, Voters ID card, Driving License
Income Proof: Latest 3-month salary slip with form 16
Residence 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:

Identification Proof: Passport copy, PAN Card, Voters ID card, Driving License
Income Proof: Latest ITR
Address Proof(anyone): Ration card/ Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
Bank Statement: Last 6 months.

Car Loan Madanapalle Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Applicants

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 Applicants

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 per annum for standard cars and Rs.100000 per annum for mid-sized and premium cars

Car Loan for Major Car Manufacturers in Madanapalle

TABLE WILL APPEAR

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Processing Fees/ Prepayment Charges on Car Loan in Madanapalle

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 Madanapalle

A CIBIL score of 750 and above is taken to be very good, and it attracts a lower interest rate for car loans in Madanapalle. However, a CIBIL score between 650 to 750 could be considered if you have a good income but with a slightly higher interest rate. If your CIBIL score is very low, then your car loan application might be refused.

Most banks and NBFCs prefer to give loans only with a 750 minimum CIBIL score. The institutions not only look at the overall score but also examine the detailed behaviour on the previously taken loans. This includes details on the loan type and the loan amount borrowed. Any late payments for previous loans taken can act as a barrier to your availing of a new loan.

Check your CIBIL score in your credit report for more information on the score.

Car Loan Madanapalle Contact Number

Call us at 9878981166 to get on car loans in Madanapalle and exclusive offers on car loans.

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Pre Calculated EMI Table for Car Loan Madanapalle

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

You can calculate your EMI here: Car Loan EMI Calculator

Car Loan EMI Calculator Madanapalle

About Madanapalle

Madanapalle is a city in the Chittoor district of Andhra Pradesh, India. It is a Selection Grade Municipal City Council and also the headquarters Madanapalle Mandal and Madanapalle revenue division and PKM Urban Development Authority. It occupies an area of 14.20 square kilometres.

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