Car Loan Ratnagiri

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Best Banks for Car Loan in Ratnagiri

Feature	HDFC Bank	Private Bank	Kotak Mahindra Bank
Interest Rate	8% - 8.4 %	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 Ratnagiri Features

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Are you one of those who wants to buy an expensive and luxurious car? If the answer to this is yes, then availing of a Car Loan is the best deal for you. It is an option that offers you the funds required to buy a car. The loan amount procured through this scheme can be utilized for buying any car according to your choice.

Features of a car loan in Ratnagiri are:

Up to 90-95%% of the funding available for new cars
Up to 80-85%% of the funding available for used cars
The loan tenure period is usually between 1 to 7 years.
The interest rate is calculated on the basis of compound interest.
Equated Monthly Installment is worked out for repayment.
Early settlement of the pending amount is accessible subject to the pre-payment penalty.

Car Loan Ratnagiri Interest Rates

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 Ratnagiri Documents Required

Documents required for a car loan are as followed:

For Salaried Individuals:

Identification Proof: 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.

Car Loan Ratnagiri Eligibility Criteria

The car loan eligibility requirements are as followed in Ratnagiri:

For Salaried Applicants

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.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. 60000 per annum for standard cars and Rs.100000 per annum for mid-sized and premium cars

Car Loan for Major Car Manufacturers in Ratnagiri

TABLE WILL APPEAR

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Processing Fees / Prepayment Charges on Car Loan in Ratnagiri

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 Ratnagiri

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 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.

Other than the CIBIL score, the institutions also check the record of your previous loans that you have taken. It involves the type of loan and the loan amount. If you have any delayed payments of previous loans, then your car loan application might be refused.

A very low CIBIL score might lead to rejection of your loan as it is the first thing a bank tracks before processing your loan.

Car Loan Ratnagiri Agent Contact Number

For any queries regarding the car loan in Ratnagiri, you can drop us a call at 9878981166.

Pre Calculated EMI Table for Car Loan Ratnagiri

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

Car Loan EMI Calculator Ratnagiri

Online Car Loan EMI Calculator

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About Ratnagiri

Ratnagiri is an attractive port city on the Arabian Sea coast in a district of Ratnagiri state of Maharashtra, India. Ratnagiri district is a part of Konkan. Ratnagiri has historic value. It has a population of 3,27,120 in 2018.

In 1958, the Maharashtra Government established the Marine Biological Research Station (MBRS) under the Department of Fisheries. The research station has a 10-hectare area as a field facility.