Best Banks for Car Loan in Mandideep
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 |
Car Loan Mandideep Features 
If you are a resident of Mandideep and want to own your dream car but don’t have the funds for it, you have come to the right place! Rate of interest or ROI for a car loan depends from bank to bank and the profile. But we provide your car loan with reasonably low-interest rates.
Car Loan Mandideep makes you buy a better car than the one that you can buy with your own hard work. The loan depends on the credit score, income and professional background of the candidate whereas on the car, and the rates may vary from bank to bank. These Banks generally lend 75%-80% finance on car loan depending on the profile of the applicant and for grade A applicant it may go to 100% finance. It helps you to buy your car without spending too much time in saving for that car and is a secured loan where your purchased car is your security and in case of non-repayment of instalments.
Imagine a situation where rented vehicles are heavy for the pocket, in case any family of four or five plans together in a function. On the other hand, owning your own car gives you the freedom to go anywhere without any restrictions in between.
Car Loan Mandideep Interest Rates
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 Mandideep 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 is requisite
- Income Proof: Latest three month’s salary slip with form no. 16 is requisite
- Residence Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card is requisite
- Bank Statement: Last six months is requisite
For Self Employed Individuals:
- Identification Proof: Passport copy, PAN Card, Voters ID card, Driving License is requisite
- Income Proof: Latest ITR is requisite
- Address Proof(anyone): Ration card/ Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card are requisite
- Bank Statement: Last 6 months requisite
Car Loan Mandideep 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 Annual Income: Rs.100000 net annual remuneration
- Minimum employment: One year in current employment and a minimum of two years of total employment requisite
For Self-Employed Applicants
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum Annual Income: Net profit of Rs. 60000 per annum for small-sized cars and Rs.100000 per annum for middle-sized cars is requisite
- Minimum employment: Bare minimum of three years in business operation is requisite
Car Loan for Major Car Manufacturers in Mandideep
TABLE WILL APPEAR Apply for a Car LoanProcessing Fees / Prepayment Charges on Car Loan Mandideep
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 Mandideep
The CIBIL score is referred to as what defines your ability to pay off your credits. A higher Credit score means good credit history and makes your car loan application process smooth and easy, on the other hand, a lower score might charge you a higher car loan interest rate. Mostly, banks and NBFCs have a score of 750 or above as a good score to approve your loan application process in Mandideep, which may again vary. Thus, a CIBIL score is an important factor in a car loan.
Car Loan Mandideep Agent Contact Number
In case of any queries regarding the car loan in Mandideep, you may reach us at the number 9878981166 or visit our website Dialabank for any sort of personalised assistance!
Pre Calculated EMI Table for Car Loan Mandideep
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 Mandideep
About Mandideep
Mandideep is a town municipality in Goharganj, Raisen district in the Indian state of Madhya Pradesh. The place is situated 23 km from Bhopal and is basically an Industrial township which came into existence in the 1970s.
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