Car Loan Musiri

Best Banks for Car Loan in Musiri

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 Musiri Features

⍟ Loan Approval in 30 Minutes
⍟ Lowest Rate of Interest
⍟ Up to 100% on Road Loan
⍟ Minimum Documentation
⍟ Paperless Process
⍟ Flexible Repayment
⍟ Zero Foreclosure
⍟ 24 x 7 Online Payment Facility
⍟ No Hidden Charges

Car Loan Musiri

Car Loan Musiri Eligibility Criteria

Salaried Individual	Age – 21 years to 60 years Net Monthly Income – Minimum ₹ 20,000 Employment Duration – 1-year minimum Income Eligibility – Based on Form 16 and salary slip
Self-Employed Individuals	Age – 21-65 years of age Minimum ITR – Rs.2 lakh Employment Duration – Minimum 3 years Income Eligibility – Depends on the latest Income Tax Returns
Self-Employed Non-Individuals (Company/Partnership)	Minimum ITR – Rs. 2 lakh Employment Duration – 3 years minimum The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers	At least 6-month vintage Average Quarterly Balance – 2 quarters balance at a minimum of Rs.1 lakh Maximum Loan Amount – 3 times the Average Quarterly Balance of the last 2 Quarters

Car Loan Musiri EMI Calculator

Car Loan Musiri Fees & Charges

Charges	New Car Loan	Used Car Loan
Interest Rate	7.35% per annum	11.80% p.a. to 13.80% p.a.
Car loan Processing fees	0.5%	0.5%
Issuance of Duplicate Repayment Schedule Charges	Around Rs.500	Around Rs.500
Foreclosure Charges	0.06	0.06
Penal Interest	2% PM	2% PM
Car loan Part Payment charges	6% of the amount	6% of the amount
Cheque/Instrument Swap Charge	Around Rs.500	Around Rs.500
Documentation Charge	Around Rs. 500	Around Rs. 500
Issuance of Duplicate No Dues Certificate Charges	Around Rs. 500	Around Rs. 500
Registration Certification Collection Charge	Around Rs. 200	Around Rs. 200
Cheque Bounce/Instrument Return Charges	Around Rs. 500	Around Rs. 500
Issuance of Duplicate Statement Charges	Around Rs. 500	Around Rs. 500
Loan Cancellation/Re-booking Charges	Around Rs. 1000	Around Rs. 1000
Issuance of Credit Report	Around Rs. 50	Around Rs. 50

Car Loan Musiri Fees and Charges: Leading Banks – Apr 20 2025

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 Musiri Documents Required

Salaried Individual

Category	Documents Required
Identity Proof (Any 1)	Passport Voter ID Aadhar Card Driving License
Address Proof (Any 1)	Aadhar Card PAN Driving License Electricity Bill
Date of Birth Proof(Any 1)	Passport Birth Certificate High School Marksheet Driving Licence
Signature Proof(Any 1)	PAN Bankers Verification Passport
Income Proof	Salary Slip and latest Form No.16
Bank Statement	Last 6 month Bank statement
Employment Continuity Proof	Job card by NREGA ITR of Form no. 16 Salary Slip mentioned with joining date Letter of Appointment

Self-Employed Individuals

Category	Documents Required
Identity Proof (Any 1)	PAN Card Passport Voter ID Aadhar Card
Address Proof (Any 1)	PAN Card Voter ID Passport Electricity Bill
Date of Birth Proof (Any 1)	Birth Certificate Passport Driving Licence PAN
Signature Proof (Any 1)	PAN Bankers Verification Passport
Bank Statement	Bank statement of last 6 months
Employment Continuity Proof	Latest ITRs Shop & Establishment Act Certificate Shop & Establishment Act Certificate Sales Tax or VAT Certificate
Business Proof	Registration Certificate Telephone Bill/Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

Category	Documents Required
Identity Proof (Any 1)	Driving Licence PAN Card Aadhar Card Passport
Address Proof (Any 1)	Electricity Bill/Telephone Bill Aadhar Card Driving License Voter ID
Income Proof	Audited Balance Sheet P&L Account ITR for the previous 2 years
Bank Statement	Last 6 month
Business Continuity Proof	Company ITR of the last 2 years Audited Balance Sheet TAX registration Certificate Current Account Statement
Additional documents	Letter of Authority or PAN Card

2. Private Limited/Limited Companies

Category	Documents Required
Identity Proof	The latest copy of MOA and AOA Copy of Incorporation
Address Proof (Any 1)	SSI/MSME Registration Certificate Telephone Bill Electricity Bill Shop & Establishment Act Certificate Sales Tax Certificate
Income Proof	Audited Balance Sheet P&L Account and ITR for the previous 2 years
Bank Statement	Previous 6 Months
Business Continuity Proof	P&L account and ITR of the Company of the past 2 years Audited Balance Sheet Shop & Establishment Act Certificate
Additional documents	List of Shareholding partners and Directors Board Resolution PAN Card Certificate of Commencement of Business for Ltd. Co.

How to Get the Best Car Loan Interest Rates in Musiri

Minimal waiting terms frequently have lower interest rates than longer terms; therefore, borrowers who want to save money should choose shorter repayment terms.
Consumers must first investigate and evaluate the benefits offered by various banks and Other financial institutions to receive a good deal on a car loan. This can assist consumers in determining which lenders offer the lowest interest rates and, as a result, which lender to select.
Each debt-to-income ratio determines how much of a borrower’s income goes toward loan repayment, which lenders consider when setting interest rates. Borrowers with a lower debt-to-income ratio have a greater chance of receiving a car loan with a lower interest rate.

How to Apply for Car Loan in Musiri?

Visit our website Dialabank.
Choose the car loan option on the menubar and fill in the required details.
Dialabank’s relationship manager will reach you instantly for

Which Bank in Musiri Offers the Best Car Loans?

In the city, lenders such as HDFC, Private, and SBI provide various auto loan schemes. The most excellent lender for you is one that can supply you with the loan balance you require at the lowest possible interest rate while also delivering the cash as quickly as possible. Therefore, before qualifying for an automobile loan that fits all of the criteria, such as interest rates, it is usually a good idea to evaluate automobile loans from various providers.

Car Loan for Major Car Manufacturers in Musiri

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Car Loan Musiri

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 Musiri

Credit history is a statistic that impacts your ability to borrow money to pay off your debts. A more robust credit report indicates a positive credit history and simplifies your auto mortgage loan processing. In addition, banks and NBFCs in the city are more likely to approve your financial statement if you have a credit score of 750 or above.

Your number may change from one institution to the next. For example, if your credit history is less than ideal, you may be required to repay a considerable loan debt; however, you may be charged a low interest rate if your credit history is excellent. As a result, credit history is an essential factor to consider when applying for a car loan.

Car Loan Musiri Contact Number

Individuals can call the company 9878981166 for assistance if they have any inquiries concerning the auto loan in the city.

Pre Calculated EMI Table for Car Loan Musiri

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 Musiri

Musiri is a Panchayat town in the Tiruchirappalli district in the Indian state of Tamil Nadu. Now it is very easy to avail Car Loan via Dialabank.

Car Loan Banks in Musiri

BANK NAME	BANK ADDRESS	BANK IFSC CODE
BANK OF BARODA	MAIN ROAD, JAMBUNATHAPURAM PO, MUSIRI TK.,TRICHY, TAMIL NADU-261205	BARB0THULAI
CITY UNION BANK LIMITED	PLOT NO.397,SALEM BYE PASS ROAD,NEAR NEW BUS STAND,MUSIRI	CIUB0000331
CANARA BANK	315 NATHAN ARCADE, BYE-PASS ROAD,MUSIRI 621211 TRICHY DT TAMIL NADU	CNRB0005234
Private BANK LIMITED	NO 22-3	ICIC0003657
INDIAN BANK	18 A THURAIYUR MAIN ROAD MUSIRI 621211	IDIB000M141
INDIAN OVERSEAS BANK	35 PARISAL THURAI ROAD MUSIRI TALUK MUSIRI PIN 621211	IOBA0000059
INDIAN OVERSEAS BANK	DOOR NO 32BY1 2,VANNIYAR STREET,THATHAIYENGARPETTAI,MUSIRI TK,TRICHY DIST 621214	IOBA0002816
INDIAN OVERSEAS BANK	269,AGRAHARAM STREET,THANDALAIPUTHUR POST,MUSIRI TALUK,TRICHY DISTRICT PIN 621217	IOBA0003699
KARUR VYSYA BANK	P.B.NO. 4 6 THURAIYUR ROAD,,MUSIRI-621211	KVBL0001166
KARUR VYSYA BANK	NO 1128, THURAIYUR MAIN ROAD, VENGAIMANDALAM, MOOOVANUR, MUSIRI TALUK,TRICHY – 621006	KVBL0001794
STATE BANK OF INDIA	THURAIYUR ROAD DISTT TIRUCHIRAPALLI TAMIL NADU 621211	SBIN0000978
AXIS BANK	OLD NO.233, SALEM MAIN ROAD, MUSIRI 621211	UTIB0001368

FAQ’s About Musiri Car Loan

✅ So, what were the choices for the tenure period?

It’s your decision. Customers have a variety of payments choices to select from, extending 12 to 84 months, many of which are customized to requirements.