Car Loan Sehore

Car Loan Sehore

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Best Banks for Car Loan in Sehore

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 Sehore Features

A car loan is a financial assistance provided by banks and NBFC’s to individuals in need of cash to fulfill their dreams of having their own car. They provide the necessary funding according to your eligibility for purchasing a car in Sehore which can be on Ex-Showroom Price or On-Road Price of the car. A car Loan Sehore is a secured form of a loan with easy repayment options. Low-interest rates EMI options are available for car loans in Sehore.

Car Loan Sehore 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 Sehore Documents Required

Documents required for car loan are as followed:

For salaried:

Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
Income Proof: Latest 3-month salary slip with form 16
Address Proof: as Ration card / Adhar card/ Driving license / Passport / Telephone Bill / Life Insurance Policy /PAN Card or any other relevant proof
Bank Statement: previous 6 months.

For self-employed:

Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License
Income Proof: Latest ITR
Address Proof: as Ration card / Adhar card/ Driving license / Passport / Telephone Bill / Life Insurance Policy /PAN Card or any other relevant proof
Bank Statement: previous 6 months.

Car Loan Sehore Eligibility Criteria

The car loan eligibility requirements are as followed in Sehore:

For salaried:

The age for a salaried individual should range between 21 and 60 years to get a car loan.
One-year employment is essential for salaried applicants
Rs 100000 net annual income is required

For self-employed:

The age for a self-employed should be between 30 and 65 years for a car loan.
3 years of operating business is essential for a self-employed
Rs. 60000- 1000000 p.a is required for a self-employed person

Car Loan for Major Car Manufacturers in Sehore

TABLE WILL APPEAR

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Processing Fees & Prepayment Charges on Car Loan Sehore

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 Sehore

CIBIL score also known as credit score is the score that defines the credit-history of an applicant and his repayment of the past. The effectiveness with which an applicant has paid off his previous loans can be depicted and studied through this score. Any kind of loan including the car loan requires a good CIBIL score of the applicant whose exact value may differ from one bank to another. But, a score of 750 and above is considered a good score and makes the entire process of car loan in Sehore availability easy and convenient.

The higher the CIBIL score, the easier it becomes for an individual to avail a car loan in the city.

Car Loan Sehore Contact Number

For any queries related to a car loan in Sehore, you may contact the number 9878981166.

Pre Calculated EMI Table for Car Loan Sehore

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