Car Loan Satna

Car Loan Satna

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Best Banks for Car Loan in Satna

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 Satna Features

Have a dream car in mind but don’t have sufficient finance? Want to own a personal car that can fulfill your essential need? Apply for car loan Satna at affordable best interest rates.

A car loan is a type of secured loan that an individual can avail to buy a new or a used car, however, required. The collateral security, in this case, is the car a person wants to buy which means the loan amount is provided against the car. Some of the features of car loan as follows:

Instantly available
Loan Tenure period varies from 5-7 years
Affordable car loan interest Rate
Easily and quickly available loans
No hidden charges

Car Loan Satna 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

Apply for a Car Loan

Car Loan Satna Documents Required

Documents required for car loan are as followed:

For salaried:

Identity Proof: Aadhar Card/ Driving License/ Passport Copy, etc. are majorly accepted
Income Proof: Previous 3 months bank statements and salary slips
Address Proof: Permanent address proof like Water Bill/ Telephone bill/ Voter ID/ Passport Copy
Photograph: 2 recent passport size photographs

For self-employed:

Identity Proof: Aadhar Card/ Driving License/ Passport Copy, etc. are majorly accepted
Income Proof: recent ITR files are considered for a car loan
Address Proof: Permanent address proof like Water Bill/ Telephone bill/ Voter ID/ Passport Copy
Photograph: 2 recent passport size photographs

Car Loan Satna Eligibility Criteria

The car loan eligibility requirements are as followed:

For salaried:

The age limit for availing a car loan among 21 to 65 years
The person must be working in the current organization for at least a year.
A Self-employed individual must have his business running from at least the previous three years.

For self-employed:

The age limit for availing a car loan among 21 to 65 years
A Self-employed individual must have his business running from at least the previous three years.
An employed individual must have a minimum salary of Rs 25k to avail of a car loan.

Car Loan for Major Car Manufacturers in Satna

TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Satna

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 Satna

Apply for a Car Loan

CIBIL score is an essential criterion for availing a car loan based on which the banks and NBFCs approve a car loan to any customer. The minimum requirement of a CIBIL score for a car loan Satna varies from bank to bank. Generally, a score above 750 is considered to be a good score for any individual to be eligible to apply for a car loan in the city.

It is important that one should clear all the previous pending dues and debts in order to maintain a good credit score, before availing a car loan. Default in your credit score will act as a hurdle in your opportunities for availing a fresh loan in the future.

Car Loan Satna Contact Number

To get an instant car loan Satna you can visit our website or call on 9878981166 to get personalized assistance.

Pre Calculated EMI Table for Car Loan Satna

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

Online Car Loan EMI Calculator

About Satna

Satna is a major city in the Indian state of Madhya Pradesh. It serves as the headquarters of Satna district. It is 6th most largest city and 8th most populous city of the state. The city is 500 km east of the state capital Bhopal. The city is distributed over a land area of 111.9 square kilometres

FAQs about Car Loan Satna

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

Yes, you have to use your credit history and previous arrangement with the prospective bank or any other lender in Satna 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 Satna?

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 Satna.

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

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.