Car Loan Nalgonda

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Best Banks for Car Loan in Nalgonda

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 Nalgonda Features

A car loan is a financial help provided by banks and NBFC’s to fulfil your dream of having your own car. Necessary funding for purchasing a car which can be on Ex-Showroom Price or On-Road Price of the car are easily provided by them. With easy repayment options, Car Loan is a secured loan. The amount of loan is offered from bank to bank where Interest charges may vary. One can pay for the vehicle in easy instalments.

Features of car loan in Nalgona are:

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

Car Loan Nalgonda 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

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Car Loan Nalgonda 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: Driving license / Voters card /Ration card/ Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
Bank Statement: Last 6 months.

Car Loan Nalgonda Eligibility Criteria

The car loan eligibility criteria requirements are as followed in Nalgonda:

For Salaried Applicants

Minimum age: 21 years
Maximum age at loan maturity: 65 years
Minimum employment: minimum of 2 years of employment experience and 1 year in current 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.100000 per annum for mid-sized and premium cars Rs. 60000 per annum for standard cars.

Car Loan for Major Car Manufacturers in Nalgonda

TABLE WILL APPEAR

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Processing Fees & Prepayment Charges on Car Loan Nalgonda

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 Nalgonda

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 car loan.

Car Loan Nalgonda Contact Number

For more information on a car loan in Nalgonda, you can call us on 9878981166

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Pre Calculated EMI Table for Car Loan Nalgonda

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 Nalgonda

Nalgonda is a city in the Telangana state. Nalgonda city is the headquarters for the Nalgonda district. It is approx 90kms from the capital of the state Hyderabad.

It is famous for its Bhongir fort and Shivalayam. The population of Nalgonda is around 17 lakhs.

Special Note: Banks do not provide Car Loans to bad credit holders, but one can fulfill their money requirement with Gold Loan easily.

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