Car Loan Secunderabad

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Best Banks for Car Loan in Secunderabad

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 Secunderabad Features

Car loan secunderabad Thinking of purchasing your dream car? But don’t have the required funds? Worry not! A car loan is here for you. A car loan is a means of funding or financial help provided by banks and NBFCs to applicants at an affordable rate of interest to aid them in buying a car. Since cars have now become a necessity for everyone, but the cost of cars is growing rapidly daily. This is where a car loan comes into play and fulfills your desire to be the owner of a luxurious car. The main features of a car loan in Secunderabad are:

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

Car Loan Secunderabad 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

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Car Loan Secunderabad Documents Required

Documents required for car loan are as followed:

For Salaried Employees

2 passport size photocopies are necessary.
Proofs like PAN Card, Voters ID card, Driving License are required.
For Salaried– Latest 3-month salary slip with form 16.
Ration card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy is required to apply for the loan.
The last 6 months’ bank statement is needed.

For Self Employed

2 passport size photocopies are necessary.
Proofs like PAN Card, Voters ID card, Driving License are required.
For Self Employed- Latest Income tax returns required.
Ration card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy is required to apply for the loan.
The last 6 months’ bank statement is needed.

Car Loan Secunderabad Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried Employee

Firstly, the borrower must be an Indian citizen.
Secondly, the minimum applicant age 21 yrs as well as older than 60 yrs at loan maturity to the avail car loan.
Thirdly, He/she must have a good annual income that properly demonstrates his/her capacity for loan repayment the amount he borrows.
Besides that, the applicant must have secure employment working the current job status of one year as well as regular income in the account.
More importantly, he must possess a mobile number that marks his address and the occupation of that address for an expected duration of time.
Besides that, the borrower should have some source of income.
After that, the monthly income of the applicant should be Rs. 18k minimum.
After that, the borrower should be from two years in employment as well as from 1 year in the same company.
Finally, CIBIL scores of the borrower should be more than 750.

For Self Employed

Firstly, the borrower must be an Indian citizen.
Secondly, the minimum applicant age 21 yrs as well as older than 60 yrs at loan maturity to the avail car loan.
More importantly, he must possess a mobile number that marks his address and the occupation of that address for an expected duration of time.
Moreover, the borrower should be in the business for two years.
Finally, CIBIL scores of the borrower should be more than 750.

Car Loan for Major Car Manufacturers in Secunderabad

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TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Secunderabad

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 Secunderabad

The Cibil score is what defines your ability to pay off your credits. A higher Credit score defines your good credit history and makes your application process smooth and easy to be processed. Usually, banks and NBFCs require a credit score of 750 and above to approve your loan application process in Secunderabad. This score may vary from bank to bank. In case a CIBIL score is less than the required value you will be required to pay a high rate interest rate on the loan amount.

Car Loan Secunderabad Contact Number

Apply for a Car Loan

In case of any queries regarding the car loan in Secunderabad, you may contact on the number 9878981166 for full assistance in regards to the car loan process.

Or you can visit our website at Dialabank

Pre Calculated EMI Table for Car Loan Secunderabad

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 Secunderabad

Secunderabad is known as the twin city of Hyderabad in the Indian kingdom of Telangana. Named after Sikandar Jah, the third Nizam of the Asaf Jahi dynasty, Secunderabad which was established in 1806 as a British cantonment. Despite the fact that each the cities is together referred to as the twin towns, Hyderabad and Secunderabad have exclusive histories and cultures, with Secunderabad having developed at once underneath British rule until 1948, and Hyderabad as the capital of the Nizams’ princely kingdom of Hyderabad.