Car Loan Puttaparthi

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Best Banks for Car Loan in Puttaparthi

Car Loan Puttaparthi Features

A car loan is a kind of loan which comes under the category of secured loans. It is a financial assistance given by various banks or NBFCs available for the general public to purchase a car. This loan is the best way to generate cash and buy your favourite car.

Interest Rates for Car Loan Puttaparthi

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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Documents Required for Car Loan Puttaparthi

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(anyone): Ration card/ Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
Bank Statement: Last 6 months.

Eligibility for Car Loan Puttaparthi

The car loan eligibility requirements are as followed:

You should be at least 21 years of age to apply for a car loan. In addition, the maximum age of a person should be 65 years at the time of maturity of the loan.

For Salaried: You should be having a minimum of 2 years of employment, and you should be working for at least 1 year in your current employment. The minimum annual salary required is Rs. 100000 as net annual income.

For Self Employed: You should be in the business for at least 3 years. A net profit of at least Rs. 60000 p.a. should be there for standard cars and Rs. 100000 p.a. for mid-sized and premium cars.

Car Loan for Major Car Manufacturers in Puttaparthi

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Puttaparthi

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 Puttaparthi

CIBIL Score plays a vital role while getting a car loan. The higher your CIBIL score, the higher amount of loan you will get at minimum time. Generally, the reason behind this a CIBIL score usually shows the behaviour of the applicant towards their credits. If the score is not suitable, the customer has a bad credit record. For example, they might not be good with their past and present credits or debts. Therefore, it may create a big problem for the customer. A CIBIL score of more than 700 is usually considered a good credit score.

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