Best Banks for Car Loan in Ranchi
|
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 Ranchi Features
Thinking of purchasing a new car? But don’t have the required funds for it? Do not worry! Dialabank presents to you the easiest steps to avail a car loan so that you can fulfill your dream with great convenience. Car loans are provided by banks and NBFCs for both brand-new and second- hand cars, and for both ex-showroom and on-road prices. You can choose your own tenure for a loan and get the following features in Ranchi:
- Car loans are available at low-interest rates, which may vary from bank to bank. So make sure you compare and choose what fits best for you!
- Almost all major banks and NBFCs offer car loans in Ranchi, so you can get access to appealing offers and get a loan on your own terms.
- The documentation process is quick and hassle-free.
- Car loans are easily available through DialaBank. We take care of our customers and make sure everyone gets their dream car!
Car Loan Ranchi 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 Ranchi Documents Required
Documents required for car loan are as followed:
- You will need a Proof of Identity like a Passport copy, PAN Card, Voters ID card, Driving License
- You must show the Proof of Income for Salaried applicant is the Latest 3-month salary slip with form 16 and for Self Employed is the Latest Income Tax Returns (ITR)
- You need to show the Proof of Address like Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
- Lastly, you will need 6 months of Bank Statement
Car Loan Ranchi Eligibility Criteria
The car loan eligibility requirements are as followed in Ranchi:
SALARIED INDIVIDUALS
- 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.
- Least Annual Income: Rs 100000 net yearly pay.
SELF-EMPLOYED INDIVIDUALS
- Minimum age: 30 years
- Maximum age at loan maturity: 65 years
- Minimum employment: At least 2 years in business
- Minimum Annual Income: Net profit Rs. 60,000 Per Annum for standard cars and Rs.1,00,000 Per Annum for mid-sized and premium cars
How to Apply for Car Loan in Ranchi?
Apply for car loan Ranchi is an easy process with DialaBank. There are two ways to do it:
- Online Process – Visit our website and click on the car loan option available on the menu. Fill in the details regarding the car type and your income and wait as our relationship manager will soon get in touch with you on your provided number. You may also contact our relationship managers on the number 9878981166 in case of any queries regarding the loan.
- Offline Process – For this, you will have to visit the branch personally, which might turn to be hectic for you. So we advise you to follow the online process instead!
Car Loan for Major Car Manufacturers in Ranchi
TABLE WILL APPEAR
Processing Fees & Prepayment Charges on Car Loan Ranchi
| 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 Ranchi
The CIBIL score is referred to as your ability to pay off your credits. A higher Credit score means good credit history and makes your car loan application process smooth and easy. Mostly, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Ranchi. This score may again vary from bank to bank. In case of a low CIBIL score than the required value, you will be required to pay a higher rate interest rate. Thus, a CIBIL score is an important factor in a car loan.
Car Loan Ranchi Contact Number
In case of any queries regarding the car loan in Ranchi, you may contact us on the number 9878981166 for the best guidance!
Pre Calculated EMI Table for Car Loan Ranchi
| 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 Ranchi
Ranchi is the capital of the Indian province of Jharkhand and the fourth largest city of India by area. Ranchi was the focal point of the Jharkhand development, which required a different state for the ancestral locales of South Bihar, northern Orissa, western West Bengal, and the eastern zone of what is available day Chhattisgarh.
Car Loan EMI Calculator
Other Cities For Car Loan In Jharkhand
| Car Loan Giridih | Car Loan Daltonganj |
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| Car Loan Dhanbad | Car Loan Udupi |
