Jammu and Kashmir Bank Car Loan Key Features – Oct 07 2024
| Jammu and Kashmir Bank Car Loan Interest Rate | 7.35% per annum |
| Min Loan Amount | ₹ 1,00,000 |
| Max Loan Amount (Loan to Value) |
100% of Ex-showroom Price |
| Loan Tenure | 12 to 84 months |
| Lowest EMI / Lac | ₹ 1,634 |
| Minimum Net Monthly Income | ₹ 25,000 |
| Minimum ITR for Self Employed | ₹ 4,00,000 |
| Age Criteria | Salaried: 21 years – 60 years Self Employed: 21 years – 70years |
| Types of Cars | For All New Passenger Cars, Multi Utility Vehicles (MUVs) and Sport Utility Vehicle (SUVs). |
| Processing Fee | 0.50% or minimum Rs.1500 |
| Foreclosure Charges | Nil |
| Basic Documentation | ID Proof, Address Proof, Salary Slip and Car Quotation |
About Jammu and Kashmir Bank Car Loan
Jammu and Kashmir bank is a semi-state owned financial institution formed on 1st Oct 1938 and is currently under the maintenance of the CEO R.K.Chhibber.
Headquartered in Srinagar, Jammu and Kashmir’s Government owns Jammu and Kashmir Bank’s 68.18% shares.
Jammu and Kashmir Bank provides numerous financial products to its customers. Jammu and Kashmir Car Loan are available for customers looking to buy their dream car at an affordable Rates of Interest.
Advantages of Jammu and Kashmir Bank Car Loan
Jammu and Kashmir Bank Car Loan Eligibility
| Salaried Individual |
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| Self-Employed Individuals |
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| Self-Employed Non-Individuals (Company/Partnership) |
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| Priority Customers |
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Jammu and Kashmir Bank Car Loan Interest Rate, Fees and Charges
| Charges | New Car Loan | Used Car Loan |
| Interest Rate | 7.35% per annum |
14.80% p.a. to 16.80% p.a. |
| Processing fee | 0.50%(minimum Rs.1500) | 0.50%(minimum Rs.1500) |
| Issuance of Duplicate Repayment Schedule Charges | Above Rs.350 | Above Rs.350 |
| Foreclosure Charges | Nil | Nil |
| Penal Interest | 2% per month | 2% per month |
| Part Payment charges | 5% of the paid amount | 5% of the paid amount |
| Cheque/Instrument Swap Charge | Above Rs.350 | Above Rs.350 |
| Documentation Charge | Above Rs.350 | Above Rs.350 |
| Issuance of Duplicate No Dues Certificate Charges | Above Rs.350 | Above Rs.350 |
| Registration Certification Collection Charge | Above Rs.150 | Above Rs.150 |
| Cheque Bounce/Instrument Return Charges | Above Rs.350 | Above Rs.350 |
| Issuance of Duplicate Statement Charges | Above Rs.350 | Above Rs.350 |
| Loan Cancellation/Re-booking Charges | Nil | Nil |
| Issuance of Credit Report | Above Rs.50 | Above Rs.50 |
Jammu and Kashmir Bank Car Loan Documents Required
Salaried Individual
| Category | Documents Required |
| Identity Proof
(Any 1) |
Voter ID Aadhar Card Passport |
| Address Proof
(Any 1) |
Driving Licence Passport Electricity Bill |
| Date of Birth Proof
(Any 1) |
Birth Certificate Passport Driving Licence PAN |
| Signature Proof
(Any 1) |
PAN Card Bankers Verification Passport |
| Income Proof | Latest Form 16 and Salary Slips |
| Bank Statement | Bank statement of last three months |
| Employment Continuity Proof | ITR of Form 16 Salary Slip with Joining Date Work Experience Certificate Appointment Letter |
Self-Employed Individuals
| Category | Documents Required |
| Identity Proof (Any 1) | Aadhar card PAN Card Driving License |
| Address Proof (Any 1) | Driving Licence Aadhaar Card Voter ID Utility Bills |
| Date of Birth Proof (Any 1) | Birth Certificate Passport Driving Licence High School Marksheet |
| Signature Proof (Any 1) | Passport PAN Bankers verification |
| Income Proof | Latest Form 16 and Salary Slips |
| Bank Statement | Bank statement of last three months |
| Employment Continuity Proof | Current Account Statement SSI or MSME Registration Certificate Shop & Establishment Act Certificate Sales Tax or VAT Certificate |
| Business Proof | Telephone Bill Electricity Bill Current Account Statement Sales Tax or VAT Certificate Registered Lease Document with other utility bills Shop & Establishment Act Certificate SSI or MSME Registration Certificate |
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
| Category | Documents Required |
| Identity Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Address Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Income Proof | Audited Balance Sheet P&L Account and ITR for the previous two years |
| Bank Statement | Bank statement of last three months |
| Business Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Additional documents | Authority Letter/PAN cards |
2. Private Limited/Limited Companies
| Category | Documents Required |
| Identity Proof | Copy of Latest AOA, Incorporation, and MOA |
| Address Proof (Any 1) | Current Account Statement Shop & Establishment Act Certificate Sales Tax or VAT Certificate Registered Lease Document with other utility bills SSI or MSME Registration Certificate Telephone Bill Electricity Bill |
| Income Proof | Audited Balance sheet, P&L Account and Filed ITR |
| Previous three months bank statement | |
| Business Continuity Proof | SSI or MSME Registration Certificate Sales Tax or VAT Certificate Shop & Establishment Act Certificate Current Account Statement |
| Additional documents |
PAN Card
Board Resolution List of Directors and Shareholding Partners Certificate of Commencement of Business for Ltd. Co. |
Jammu and Kashmir Bank Car Loan EMI Calculator
Check your EMIs even before applying for the loan by following this:
Jammu and Kashmir Bank Car Loan Types
Jammu and Kashmir provide various financial products, and Car Loan is one among them. Depending upon the needs, the Loan can be availed:
- New Car Loan – For those who are looking for a fresh and new car. Avail of this loan for a flexible tenure of up to 7 years.
- Used Car Loan – Take a Used Car Loan for buying any second-hand car with full documents available. Get the loan for long tenures up to 5 years.
- Loan Against Car – Individuals can even get a loan against their owned cars for quick fund approvals by keeping the car as the collateral.
Jammu and Kashmir Bank Car Loan Pre Calculated EMI
| Loan Amount | 2 Years | 3 Years | 5 Years | 7 Years |
| 1 Lakh | ₹ 4,480 | ₹ 3,090 | ₹ 1,982 | ₹ 1,512 |
| 3 Lakh | ₹ 13,439 | ₹ 9,270 | ₹ 5,947 | ₹ 4,535 |
| 5 Lakh | ₹ 22,398 | ₹ 15,450 | ₹ 9,912 | ₹ 7,559 |
| 10 Lakh | ₹ 44,795 | ₹ 30,900 | ₹ 19,825 | ₹ 15,117 |
How to Apply for Jammu and Kashmir Bank Car Loan?
- Reach out to Dialabank and fill in the necessary information.
- Get in touch with our well-trained Relationship manager and know more about the options available.
- Select the Best Car loan according to your needs from the long list available.
- All the guidance and services throughout the Car loan process are free of cost.
Jammu and Kashmir Bank Car Loan for Top Selling Cars
Other Available Products from Jammu and Kashmir Bank
| Jammu and Kashmir Bank Personal Loan | Jammu and Kashmir Bank Credit Card |
| Jammu and Kashmir Bank Gold Loan | Jammu and Kashmir Bank Home Loan |
FAQs for Jammu and Kashmir Bank Car Loan
✅ What is Jammu and Kashmir Bank Car Loan?
Jammu and Kashmir Bank Car Loan is a secured loan provided by the Bank to applicants looking to allocate funds for buying a new or used car.
✅ How can I get a Car Loan from Jammu and Kashmir Bank?
Jammu and Kashmir Car Loan can be availed by applying directly through Dialabank or reaching out to the nearest branch of the Bank.
✅ How does Jammu and Kashmir Bank Car Loan work?
Working of Jammu and Kashmir Bank Car Loan is pretty simple as it involves allocating funds to its customers willing to buy a car and keeping the same as collateral. The rate of Interest is charged against the loan and is repaid in burdenless EMIs.
✅ What is the Car Loan Interest Rate in Jammu and Kashmir Bank?
Car Loan Interest Rate in Jammu and Kashmir Bank is as low as
7.35% per annum
.✅ How to Check Car Loan status in Jammu and Kashmir Bank?
Check car Loan status in Jammu and Kashmir Bank directly by reaching out to the Bank’s website and providing your Loan number on the Loan Status page.
✅ How to Calculate Car Loan Interest in Jammu and Kashmir Bank?
Calculate Car Loan Interest in Jammu and Kashmir Bank by using Dialabank’s Calculator. This Calculator provides information about the EMI and the Interest of your Loan.
✅ What is the maximum loan amount I can avail myself of on a Car Loan from Jammu and Kashmir Bank?
Car Loans from Jammu and Kashmir bank can avail you up to 100% amount of the ex-showroom price of the vehicle.
✅ What is the loan tenure of the Jammu and Kashmir Bank Car Loan?
Jammu and Kashmir Bank Car Loan Tenure range between 12 to 84 months.
✅ Can I get a 100% Car Loan from Jammu and Kashmir Bank?
Yes, a 100% car loan from Jammu and Kashmir Bank can be provided on the Ex-showroom price of the car.
✅ How much Processing Fee is applicable on Jammu and Kashmir Bank Car Loan?
Processing Fees of 0.50% or a minimum of Rs.1500 is applicable on Jammu and Kashmir Bank Car Loan.
✅ What are the EMI options available on Jammu and Kashmir Bank Car Loan?
EMI options of Step-up EMI and Balloon EMI are available with Jammu and Kashmir Bank Car Loan.
✅ What are the charges for Prepayment in Jammu and Kashmir Bank Car Loan?
There are NO charges for Prepayment in Jammu and Kashmir Bank Car Loan.
✅ Can I get a top-up loan on my existing Jammu and Kashmir Bank Car Loan?
Top-up Loan on Existing Jammu and Kashmir Bank Car Loan can only be availed under particular circumstances.
✅ Do I need to provide a guarantor to avail myself a Car Loan from Jammu and Kashmir Bank?
A guarantor is not needed to avail of a Car Loan from Jammu and Kashmir Bank.
✅ How to get Jammu and Kashmir Bank Car Loan Statement?
Jammu and Kashmir Bank Car Loan Statement is readily available on the Bank’s website and can be availed by providing the Loan Details.
✅ How to Pay Jammu and Kashmir Bank Car Loan Interest Online?
Pay Jammu and Kashmir Bank Car Loan Interest Online through Bank’s Payment gateways using your Net Banking.
✅ What if I can’t pay the interest on Jammu and Kashmir Bank Car Loan for 3 months?
Bank has the right to seize the vehicle or charge a nominal penalty for not paying Jammu and Kashmir Bank Car Loan EMI for 3 Months.
✅ How can I apply for EMI Moratorium on Jammu and Kashmir Bank Car Loan?
EMI Moratorium on Jammu and Kashmir Bank Car Loan can be requested directly with the Bank.
✅ What is the number for Jammu and Kashmir Car Loan agents?
9878981166 is the number for Jammu and Kashmir’s most valuable Car Loan Agent, i.e. Dialabank.
✅ Can I close Jammu and Kashmir Bank Car Loan online?
Jammu and Kashmir bank car Loans cannot be closed online; an Applicant has to reach the branch for the closure process.
✅ What is Jammu and Kashmir Bank Car Loan Customer Care Number?
9878981166 is the number for all the queries related to Jammu and Kashmir Bank Car Loan.
✅ How can I get NOC from Jammu and Kashmir Bank for a Car Loan?
NOC from Jammu and Kashmir Bank for a Car Loan can be availed after completing the foreclosure process.
✅ What is the Jammu and Kashmir Bank Car Loan closure procedure?
- Just go to the bank with the documents required for a car loan.
- Write a letter for pre-closure of the Jammu and Kashmir Bank Car Loan account.
- Pay the pre-closure charges as per Jammu and Kashmir Bank Car Loan.
✅ What is the Jammu and Kashmir Bank Car Loan preclosure charges?
Jammu and Kashmir Bank Car Loan preclosure charges are zero.
✅ What is the Jammu and Kashmir Bank Car Loan maximum tenure?
The Jammu and Kashmir Bank Car Loan maximum tenure is 7 years.
✅ What is the Jammu and Kashmir Bank Car Loan minimum tenure?
The Jammu and Kashmir Bank Car Loan minimum tenure is 1 year.
