Car Loan Namakkal

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Best Banks for Car Loan in Namakkal

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 Namakkal Features

A car loan is a financial help provided by banks and NBFC’s to fulfill 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 is provided by them. With easy repayment options, car Loan is a secured loan. The Interest charges vary from bank to bank on loan amount offered. One can pay for the vehicle in easy installments.

Car Loan Namakkal 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 Interest Rate Online

Apply for a Car Loan

Car Loan Namakkal Documents Required

Documents required for car loan are as followed:

Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
Income Proof: For Salaried– Latest 3-month salary slip with form 16 / For Self Employed- Latest ITR
Proof For Address: Driving license / Voters card / Ration card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
Bank Statement: Last 6 months.

Car Loan Namakkal Eligibility Criteria

The car loan eligibility requirements are as followed:

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 / For Self Employed– at least 3 years in business
Minimum Annual Income: For Salaried Rs 100000 net annual income / For Self- Employed Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars
Minimum Annual Income: Net annual income for Salaried Person should be Rs 100000.
For Self- Employed Net profit Rs.100000 per annum for mid-sized and premium cars Rs. 60000 p.a for standard cars.

Car Loan for Major Car Manufacturers in Namakkal

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Namakkal

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 Namakkal

Every financial institution has its criteria for CIBIL score required for processing the Car Loan application in Nadiad so that they can minimize the risk of lending to the customer. Most institutions require a minimum score of CIBIL of 750 or above to process your loan application. Also having a good CIBIL score helps to loans at a cheaper rate of interest.

The institutions don’t just look at the overall score but also the detailed behavior on the previous loans taken. This includes details on the type of loan taken and the amount borrowed. Any delayed payments for previous loans can act as a barrier to your availing a fresh loan.

Car Loan Namakkal Contact Number

You can get a car loan Namakkal easily from dialabank by contacting the number 9878981166.

Pre Calculated EMI Table for Car Loan Namakkal

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 Namakkal

Car Loan Namakkal

In the Indian state of Tamil Nadu, Namakkal is a Selection grade municipality and the headquarters of Namakkal district. In Asia, it is the first ISO 14001-2004 certified municipality for environmental management, specifically solid waste and sewage management, town planning, the provision and maintenance of water supply, lighting and other social services.

Namakkal had a population of 55,145 according to 2011 census.

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

Car Loan EMI Calculator

By Car loan, EMI Calculator provided by Dialabank, Car loan EMI can be calculated. It’s totally free to use and you can use it as many times as you want. Equated Monthly Installments(EMI) is the monthly fixed charges that you pay to the bank as monthly repayment for the loan amount borrowed. Based on your profile, the interest rate on the loan is determined. EMI is calculated based on the Interest Rate you are charged by the bank and the amount of loan you have to take and the period for which you enjoy the car loan.