Skoda Rapid Car Loan

Skoda Rapid Car Loan – Features & Benefits

Interest Rate Skoda Rapid Car Loan	8.50% – 10.5 % Per Annum
Loan Amount	Upto 100% of the total amount
Tenure	12 – 84 Months
Lowest EMI per Lakh	Rs 1,666
Processing Fee	Rs 2,500 – Rs 10,000
Prepayment Charges	Varies with Banks

Skoda Rapid Car Loan – Eligibility Criteria

Particulars	Details
Minimum Age of the Applicant	18 years
Maximum Age of the Applicant	60 years for salaried applicants and 65 years for self-employed applicants
Minimum Annual Income	Rs. 100000 net annual income. for salaried individuals, and Net profit Rs. 60000 p.m. for Self – Employed individuals
Car Model	Any approved car model
Type of Employment	Salaried or self-employed
Country or Place of Residence	India (rural/semi-urban/urban areas)
Duration of Stay in Current Residence	A minimum of 1 year

 

Skoda Rapid Car – Loan EMI Calculator

Equated Monthly Instalment (acronym – EMI) is the amount to be paid to the Bank/NBFC till the loan is completely repaid. It includes the amount that the bank paid to cover the charges for Skoda Rapid Car Loan* and the interest on that amount.
DialaBank provides the ideal Car Loan EMI Calculator for Skoda Rapid Car Loan. The EMI Calculator would assist you to make an educated and wise decision about the loan amount, the interest rate, the tenure, and the consequents cost of EMIs.

The formula to calculate Maruti Suzuki Car Loan EMI is given below
E is EMI
P is Principal Loan Amount
r is the rate of interest calculated on monthly basis. (i.e., r = Rate of Annual interest/12/100. If rate of interest is 10.5% per annum, then r = 10.5/12/100=0.00875)
n is loan term/tenure / duration in number of months

*- The loan amount for an individual depends on various criteria described above.

Skoda Rapid Car Loan – Loan Interest Rate, Fees, and Charges

Interest Rate	8.25% – 14.26% (Avg – 9.40%)
Processing Fee	Lower of Rs. 10,000 or 0.4% of car loan sanctioned
Foreclosure Charges	3% to 6% depending on loan tenure (no foreclosure for loans disbursed <6 months ago)
Documentation Fees	Rs. 600 each time
Penalty for Late Payment	2% each month
Financing Quantum	up to 100% depending on customer profile

 

Apart from the charges mentioned above, there are a variety of fees associated with car loans. Fees such as stamp duty, road tax, loan cancellation fees, loan bank transfer fees, etc.
These various charges are the same for all lenders. However, there could be minor differences that are subject to regional charges.

Skoda Rapid Car Loan – Documents Required 

Documents required for a car loan are as followed

• Identification proof
• Proof of age
• Address proof
• Application form
• Passport size photograph
• Income proof
• Bank statement
• Proforma Invoice
• Signature verification proof

Skoda Rapid Car Loan – Documents Required for Salaried Professionals

Document	Requirement
Identity Proof	Aadhaar card PAN card Driving License Passport Voter ID
Address Proof	Aadhaar card Passport Driving License Voter ID Family card (ration card) Utility bill (Electricity, water, or telephone) Life insurance policy The applicant’s name must be present on the ration card or utility bill.
Age Proof	Birth certificate School transfer certificate Std. 10th mark sheet Aadhaar card
Income Proof	Salary slips Form 16 Income tax return document
Bank Statement	3 to 6 months bank statement
Signature Verification Proof	Banks have separate forms for applicants to fill up along with their signature
Proforma Invoice	This document contains the price quoted by a dealer for the car chosen by the applicant. The loan amount will be based on the price of the car.

 

Skoda Rapid Car Loan – Documents for Self-Employed Individuals

Document	Requirement
Identity Proof	Aadhar card PAN card Passport Voter ID Driving license
Address Proof	Aadhar card Passport Voter ID Driving license Ration card Utility bill (telephone, electricity, or water) Life insurance policy
Age Proof	Birth certificate School transfer certificate Marksheet Aadhaar card
Bank Statement	3-6 months bank statement
Business Ownership Proof	To prove that the business is under operation, the following can be provided Office address proof Maintenance bill Utility bill Additionally, the applicant must also provide a copy of the business registration license.
Proof of Income	Income tax returns for up to 2 years Audited balance sheet Profit-loss statement
Signature Verification Proof	Most banks have separate forms to prove the signature of the individual.
Proforma Invoice	A proforma invoice containing the price of the vehicle must also be filed along with the other documents to indicate the desired loan amount. Most banks offer up to 95% of the price of the car as a loan.

Skoda Rapid

Rs 7.79 Lakh* – Rs 13.29 Lakh*
*- Ex-showroom price New Delhi

Skoda Rapid Price

Skoda Rapid is a five-seater Sedan priced between Rs. 7.79 Lakh – Rs. 13.29 Lakh. Skoda Rapid has 11 variants to offer. The base model is 1.0 TSI RIDER at Rs. 7.79 Lakh and the top variant is 1.0 TSI MONTE CARLO AT that costs Rs. 13.29 Lakh.

Prices of Skoda Rapid ex-showroom Delhi

Variant	Ex-Showroom Price
1.0 TSI Rider 999 cc, Manual, Petrol, 18.97 kmpl	Rs.7.79 Lakh*
1.0  TSI Rider Plus 999 cc, Manual, Petrol, 18.97 kmpl	Rs.8.19 Lakh*
1.0  TSI Rider Plus AT 999 cc, Automatic, Petrol, 16.24 kmpl	Rs.9.69 Lakh*
1.0  TSI Ambition 999 cc, Manual, Petrol, 18.97 kmpl	Rs.9.99 Lakh*
1.0  TSI Onyx 999 cc, Manual, Petrol, 18.97 kmpl	Rs.10.19 Lakh*
1.0 TSI Ambition AT 999 cc, Automatic, Petrol, 16.24 kmpl	Rs.11.49 Lakh*
1.0 TSI Onyx AT 999 cc, Automatic, Petrol, 16.24 kmpl	Rs.11.69 Lakh*
1.0 TSI Style 999 cc, Manual, Petrol, 18.97 kmpl	Rs.11.69 Lakh*
1.0 TSI Monte Carlo 999 cc, Manual, Petrol, 18.97 kmpl	Rs.11.99 Lakh*
1.0 TSI Style AT 999 cc, Automatic, Petrol, 16.24 kmpl	Rs.12.99 Lakh*
1.0 TSI Monte Carlo AT 999 cc, Automatic, Petrol, 16.24 kmpl	Rs.13.29 Lakh*

*- Ex-showroom price New Delhi

Down payment Required For Skoda Rapid Car Loan

The down payment is the difference between the On-Road Price of the Skoda Rapid car loan and the loan amount. The principal and length of the loan are significant factors in deciding the interest rate. One can also negotiate a lower interest rate on their loan with the lender. The lender generally finances 90% of Skoda Rapid’s on-road price. Some consumers may also be eligible for 100% financing.

 

 

Please call 9878981166, or visit Dialabank to know more about the down-payment amount required. This amount varies with the region and the bank that is preferred.

Skoda Rapid Mileage

About Skoda Rapid

Skoda Rapid is a Sedan first launched in 2011. The Rapid has been updated since, and that makes it relevant and reasonable for its price. It seats 5 and is available in a price range of Rs. 7.79 Lakh – Rs. 13.29 Lakh. Skoda Rapid comes in 11 variants and 6-colours.
A 999cc, three-cylinder TSI motor engine is available in manual/automatic transmission. The vehicle is BS6 compliant and produces 110 hp.
It weighs 1,134 kg and a ground clearance of 163 mm.

 How to get Skoda Rapid Car Loan

1. Visit the official page of Dialabank
2. Go to the Car Loan option and provide the required information.
3. Our relationship manager will get in touch with you over your application.
4. Please Contact Dialabank at 9878981166 for further queries.

Skoda Rapid News:

• Skoda Rapid was the company’s most selling car in 2021 Q1

Rapid has become the Czech automobile manufacturer’s talisman in sales, clocking over 3200 units in sales in the first 3 months of 2021.

• Skoda Rapid New model Expected Launch date

Skoda New Rapid is expected to launch in India in Dec 2021 in the expected price range of ₹ 9.00 – 12.00 Lakh.

Skoda Rapid Car Loan FAQs

 ✅ What is the Minimum and Maximum Loan Amount for Skoda Rapid Car Loan?

The minimum loan amount is Rs 1,00,000 and the maximum loan amount is Loan up to 90% of On Road Price.

✅ What is the Skoda Rapid Car Loan Tenure?

1 year – 7 years is the loan tenure for Skoda Rapid Loan.

✅ How many colours variants are available in Skoda Rapid?

Skoda Rapid offers 6 colour choices- Brilliant Silver, Lapiz Blue, Carbon Steel, Toffee Brown, Flash Red and Candy White.

✅ When would Skoda launch the new Rapid?

The third-gen Skoda Rapid is expected to be introduced by December 2021.

✅What is the boot space of Skoda Rapid?

Skoda Rapid has a boot space of 460 litres.

✅ What will be the lowest down payment for Skoda Rapid Car Loan?

The lender generally finances 90% of Skoda Rapid’s on-road price. Some consumers may also be eligible for 100% financing. The down payment is the difference between the On-Road Price of the Skoda Rapid car loan and the loan amount.