Best Banks For Car Loan in Nagpur
|
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 Nagpur Features
A car loan is a deal that helps the person to buy their favourite car without worrying about the payments. Dialabank provides a deal that allows the person to pay the cost of the car in partition rather than paying it at once. It is the best way to drive your dream car home.
A car loan is one of the secured loans where an applicant gets a loan amount from the bank and NBFC’s at some interest rates for a given period. An applicant can use this amount of loan to buy a car.
Some of the features 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
Car Loan Nagpur 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
Car Loan Nagpur Documents Required
Documents required for car loan are as followed:
For Salaried:-
- Identity Proof: PAN Card, Voters ID card, Passport copy, Driving License
- Income Proof: Latest 3-month salary slip with form 16
- Address Proof: Driving license / Voters card / Passport Copy / Telephone Bill / Ration card / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
For Self Employed:-
- Identity Proof: PAN Card, Voters ID card, Passport copy, Driving License
- Income Proof: Latest ITR
- Address Proof: Voters card / Passport Copy / Ration card / Telephone Bill / Driving license / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
Car Loan Nagpur Eligibility Criteria
The car loan eligibility requirements are as followed in Nagpur:
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 1,00,000 net annual income
For Self-Employed:-
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum employment: at smallest 3 years in sales
- Minimum Annual Income: Net profit Rs. 60,000 p.a for regular cars and Rs.1,00,000 p.a. for mid-sized and superior cars
How to Apply for Car Loan in Nagpur?
Applying for a car loan with Dialabank is an easy process. Follow the steps to apply for a car loan:
- Visit our website Dialabank.
- Click on the auto loan option and select the car loan option on the menu.
- Fill out the form with the necessary details of your loan requirements.
- Please wait for our team of experts to reach to get in touch with you.
- You can also visit the nearest branch or call on 9878981166.
Car Loan for Major Car Manufacturers in Chandigarh
TABLE WILL APPEAR
Processing Fees / Prepayment Charges on Car Loan Nagpur
| 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 Nagpur
CIBIL score is what describes your creditworthiness of the past. So, it is a vital aspect to consider while availing of a car loan. The CIBIL score required for car loans may vary from one lender to another. Most banks accept a CIBIL score of 750 and above to process your car loan application. In case of a low CIBIL score, you might be required to pay a heavy interest rate on the loan amount.
Car Loan Nagpur Contact Number
For any queries regarding the car loan in Nagpur, you can contact us on 9878981166, and we will help you out in getting the best loan for you.
Pre Calculated EMI Table for Car Loan Nagpur
| 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 Nagpur
Nagpur is the third-largest city in the state of Maharashtra. Nagpur is also known as the orange city as it is a major trade centre for oranges. Nagpur is the 13th largest city by population. However, the city ranks 31st out of 111 cities in India in the Ease of Living Index.
Nagpur is famous for its oranges. Other attractions in Nagpur include Ambazari Lake, Deekshabhoomi, Maharaja bagh zoo, Raman science centre, planetarium, and Sitabuldi fort.
Special Note: Banks do not provide Car Loans to bad credit holders, but one can quickly fulfil their money requirement with Gold Loan.
