Best Car Loan Providers in Vellore
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 Vellore Features
Are you looking to buy a new car in Vellore?
Forget about the worries if you are running short of money as you don’t have to pay the entire amount in a single go.
You can avail a car loan in Vellore at an affordable interest rate. Getting a car loan in Vellore is an easy and simple procedure.
It offers flexibility in loan terms and conditions. It is secured with a minimum documentation process. Apply for a Car Loan Now at Dialabank.
Car Loan Vellore 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
Car Loan Vellore Documents Required
Documents required for car loan are as followed:
For Salaried Individuals:
- Proof of Identification: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: Latest 3-month salary slip with form 16
- Residence 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 Individuals:
- Identification Proof: Passport copy, PAN Card, Voters ID card, Driving License
- Income Proof: Latest ITR
- Address Proof(anyone): Ration card/ Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
Car Loan Vellore Eligibility Criteria
The car loan eligibility requirements are as followed:
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 per annum for standard cars and Rs.100000 per annum for mid-sized and premium cars
Car Loan for Major Car Manufacturers in Vellore
TABLE WILL APPEAR Apply for a Car LoanProcessing Fees / Prepayment Charges on Car Loan Vellore
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
|
>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 Vellore
CIBIL is a credit information company, the score can vary between 300 to 900 and the higher is your CIBIL score, the better are your chances of getting a loan. Most banks accept a score of 750 or more can get you a low-interest rate.
The CIBIL score is based on your payment history across loans and credit cards.
Car Loan Vellore Contact Number
Customers can contact us at +91 9878981166 to get best car loan deals right from your home or can apply on our website www.dialabank.com.
Apply for a Car LoanPre Calculated EMI Table for Car Loan Vellore
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 Vellore
About Vellore
Vellore is a city in the state of Tamil Nadu, in southern India. It’s known for 16th-century Vellore Fort, with its imposing granite walls and surrounding moat. Inside the fort, the Jalakandeswarar Temple features many ornate sculptures. Nearby, the Government Museum has prehistoric relics and natural history displays.
Yes, you have to use your credit history and previous arrangement with the prospective bank or any other lender in Vellore 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. 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 Vellore. 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.
FAQs about Car Loan Vellore
✅ Can I get a loan to purchase a used car in Vellore?
✅ What is the typical tenure of a car loan in Vellore?
✅ Do I need a loan guarantor or co-borrower in Vellore?
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