Car Loan Samastipur

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Best Banks for Car Loan in Samastipur

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 Samastipur Features

car loan samastipur

As the development of our country speeds up, so does the development of roads. This increases the desire to have one’s means of travel, but paying out of one’s pocket isn’t always a viable option. This is where car loans help you. Dialabank assists you to acquire a car loan easily and on your own terms, for both brand-new and second-hand cars, and for both ex-showroom and on-road prices. The features of car loans in Samastipur are as follows:

Car loans are available at low-interest rates
Almost all major banks and NBFCs offer car loans in Samastipur
The documentation process is quick and hassle-free
Car loans are easily available through DialaBank

Car Loan Samastipur 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 Samastipur Documents Required

Documents required for car loan are as followed:

For Salaried Individuals

Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
Income Proof: – Latest 3-month salary slip with form 16
Address 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

- Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: – Latest ITR reports.
- Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.

Car Loan Samastipur Eligibility Criteria

car loan samastipur

The car loan eligibility requirements are as follows

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 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars

Car Loan for Major Car Manufacturers in Samastipur

TABLE WILL APPEAR Apply for a Car Loan

Processing Fees & Prepayment Charges on Car Loan in Samastipur

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 Samastipur

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 facile, while a lower score can charge you higher interest rates. Mostly, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Samastipur. This score may again vary from bank to bank.

Car Loan Samastipur Contact Number

In case of queries regarding the best car loan in Samastipur, you may contact the number 9878981166 for the best guidance!

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Pre Calculated EMI Table for Car Loan Samastipur

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

About Samastipur

Samastipur is a city and a municipal corporation in Bihar, India. It is the headquarter of Samastipur district and comes under Darbhanga division. The Budhi Gandak river flows through the town. It is one of the five railway divisions of ECR, Hajipur.

FAQs about Car Loan Samastipur

✅ Can I get a loan to purchase a used car in Samastipur?

Yes, you have to use your credit history and previous arrangement with the prospective bank or any other lender in Samastipur to negotiate the interest rate on your car loan. Regularly paying your past loans/credit cards EMI with your prospective bank or any other lender will help you get a car loan with a lower interest rate.

✅ What is the typical tenure of a car loan in Samastipur?

A car loan can last anywhere between one to five years. The higher the EMI, the shorter your loan term, and the opposite is valid for longer car loan terms. Currently, only limited lenders are offering car loans on terms of up to seven years in Samastipur.

✅ Do I need a loan guarantor or co-borrower in Samastipur?

If you are unable to meet the lending institution’s eligibility standard, such as monthly salary, age, or credit score, a loan guarantor or co-borrower is required. You can even apply for a car loan of your own.