Car Loan Medchal| Lowest Rates @8.99% p.a

Car Loan Medchal

I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Major Car Loan Providers in Medchal

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 Medchal Features

At present scenario, a car has become necessity rather than a luxury, so much that we almost cannot imagine our life without a car. Budget constraints deter us from buying one for ourselves. A car loan can bring your dreams to reality, and you too can have a car of your own.

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. 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 Medchal are:

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

Car Loan Medchal 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

Apply for a Car Loan

Car Loan Medchal Documents Required

Documents required for car loan are as followed:

For Salaried Employees

ID Proof: Aadhar Card/ Driving License/ Pan Card/ Passport Copy, etc.
Proof of Address: Water Bill/ Voter ID/ Telephone bill/ Passport Copy
Income Proof: Previous 3 months salary slips or Form 16 for a salaried individual
Recent passport size photographs-2 of the applicant

For Self Employed

ID Proof: Aadhar Card/ Driving License/ Pan Card/ Passport Copy, etc.
Proof of Address: Water Bill/ Voter ID/ Telephone bill/ Passport Copy
Income Proof: recent tax return files for a such individual
Recent passport size photographs-2 of the applicant

Car Loan Medchal Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Employee

Minimum age: 21 years
Maximum age at loan maturity: 65 years
Minimum employment: For Salaried- 1 year in current employment and a minimum of 2 years of employment experience with documented proof
Minimum Annual Income: Rs 100000 net annual income is must

For Self Employed

Minimum age: 21 years
Maximum age at loan maturity: 65 years
Minimum employment: at least 3 years in current 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 Medchal

Apply for a Car Loan

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Medchal

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 Medchal

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 Medchal Contact Number

Apply for a Car Loan

For more information regarding the car loan, drop us a call at 9878981166

For further assistance you can also visit us at Dialabank

Pre Calculated EMI Table for Car Loan Medchal

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