Car Loan Silchar

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Best Banks for Car Loan in Silchar

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 Silchar Features

With a variety of cars coming to the market every week, who does not want to upgrade their lifestyle and have a brand new car? But mostly this wish is not fulfilled due to financial constraints. Car Loans provide you the facility to finance the car you want at affordable rates without much paperwork.

Car Loans are secured loans that almost all the banks and NBFCs offer. Generally, the car you purchase serves as the collateral security and the lender can confiscate it if you fail to repay the loan amount.

Car Loan Silchar Interest Rate

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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

Car Loan Silchar Documents Required

Documents required for car loan are as followed:

For Salaried Employee

Identity Proof: Provide any ID like Passport copy, PAN Card, Voters ID card, Driving License
Income Proof: It is mandatory to provide the latest 3-month salary slip with form 16
Address Proof: Permanent address proof like Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
Bank Statement: The last six months’ statement to be submitted by the applicant.

For Self-Employed

1. Identity Proof: Provide any ID like Passport copy, PAN Card, Voters ID card, Driving License
2. Income Proof: Latest ITR proof
3. Address Proof: Permanent address proof like Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
4. Bank Statement: The last six months’ statement to be submitted by the applicant.

Car Loan Silchar Eligibility Criteria

The car loan eligibility requirements are as followed in Silchar:

For Salaried Employee

The minimum age requirements are 21 years.
The applicants should not be more than 60 and 65 years at the time of completion of tenure
The individuals should possess a minimum of 1-year experience in current employment and a minimum of 2 years of employment from the past
Minimum Annual Income: For such applicants Rs 100000 net annual income
Usually getting a car loan is easier when the applicant possesses a CIBIL score of 750 and above that is an essential factor required for the loan approval in Silchar.

For Self Employed

The minimum age requirements are 30 years in case of a self-employed
The applicants should not be more than 60 and 65 years at the time of the completion of the loan tenure.
At least 3 years in operating business
Minimum Annual Income: Net profit Rs. 60000 p.a. for standard cars and Rs.100000 p.a. for best mid-sized and premium cars
Usually getting a car loan is easier when the applicant possesses a CIBIL score of 750 and above which is an essential factor required for the loan approval in Silchar.

Car Loan for Major Car Manufacturers in Silchar

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TABLE WILL APPEAR

Processing Fees & Prepayment Charges on Car Loan Silchar

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 Silchar

CIBIL score is an important aspect based on which the banks and NBFCs approve a car loan to any customer. The minimum requirement of a credit score for a car loan varies from bank to bank. Generally, a CIBIL score above 750 is considered to be decent for any individual to be eligible to apply for a car loan

It is important for an individual to clear all the pending dues and debts of previous loans in order to maintain a good credit score. Default in your credit score may hinder your opportunities for availing a fresh loan in the future.

Car Loan Silchar Contact Number

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To get an instant car loan you can visit our website Dialabank or call on 9878981166 to get free assistance. Our executives are well trained and will assist you in the best way possible in order to provide you with a deal most suited for you.

Pre Calculated EMI Table for Car Loan Silchar

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

You can calculate your EMI here: Car Loan EMI Calculator

About Silchar

Silchar is the headquarters of Cachar district in the state of Assam in India. It is 343 kilometers southeast of Guwahati. It earned it the bon mot of “The Island of Peace” from India’s then prime minister Indira Gandhi. In the 1850s, British tea planters re-discovered the game polo in Manipur on the Burmese border with India. The first polo club in the world was formed at Silchar. The first competitive modern form of polo was played in Silchar, and the plaque for this feat still stands behind the District Library, Silchar.

Special Note: Banks do not provide Car Loans to individuals with bad credit history, but one can fulfill their money requirement with Gold Loan easily.