Survoday Small Finance Bank Car Loan Key Features – 2021
| Survoday Small Finance Bank Car Loan Interest Rate | 7.35% per annum |
| Min Loan Amount | ₹ 100,000 |
| Max Loan Amount (Loan to Value) |
Loan up to Rs. 5 Lakhs |
| Loan Tenure | 1 year to 7 years |
| Lowest EMI / Lac | ₹ 2,353 |
| Minimum Net Monthly Income | ₹ 20,000 |
| Minimum ITR for Self Employed | ₹ 300,000 |
| Age Criteria | Salaried: 21 years to 60 years Self Employed: 21 years to 60 years |
| Types of Cars | For All New Passenger Cars, Multi Utility Vehicles (MUVs), and Sport Utility Vehicle (SUVs). |
| Processing Fee | 0.40% of the principal amount |
| Foreclosure Charges | NIL |
| Basic Documentation | ID Proof, Address Proof, Salary Slip, Bank Statement, and Car Quotation |
About Survoday Small Finance Bank Car Loan
Suryoday Small Finance Bank is a new age bank that went live on January 23rd, 2017. We endeavour to bring the best banking solutions to the ‘banked’, ‘under-banked, and the ‘unbanked sections of society. Our power-packed solutions are designed to offer the choicest of benefits to suit different financial needs. Our focus will always be on ensuring the best in class ‘Customer Experience’.
Advantages of Survoday Small Finance Bank Car Loan
- Higher Loan Amount: Banks offer you a car loan of up to 80-100% of the car’s on-road price in case of new vehicles. The vehicle’s on-road price includes the ex-showroom price, state government tax, and vehicle insurance cost.
- No Need to Liquidate your Investments: If you avail of the car loan, there is no need to liquidate the investments you have made for other purposes.
- Flexible Tenure: You can go for any loan repayment tenure ranging from 1 year to 7 years according to your choice.
- Tax Benefits: A car Loan can help you save on tax if you are a self-employed person/ businessman and use the car for legitimate business purposes. If you are a self-employed person/ businessman, you can claim the interest paid on a car loan as a business expense. In this way, your taxable income will be reduced by the interest you have paid in a financial year on a car loan.
Survoday Small Finance 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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Survoday Small Finance Bank (CUB) Car Loan Interest Rate, Fees and Charges
| Charges | New Car Loan | Used Car Loan |
| Interest Rate | 7.35% per annum |
14.50% p.a. |
| Processing fee | 0.40% of the principal amount | Up to 1.25% of the loan amount |
| Issuance of Duplicate Repayment Schedule Charges | Rs.500 per instance | Rs.500 per instance |
| 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 | Rs.500 per instance | Rs.500 per instance |
| Documentation Charge | Rs.500 per instance | Rs.500 per instance |
| Issuance of Duplicate No Dues Certificate Charges | Rs.500 per instance | Rs.500 per instance |
| Registration Certification Collection Charge | Rs.200 per instance | Rs.200 per instance |
| Cheque Bounce/Instrument Return Charges | Rs.500 per instance | Rs.500 per instance |
| Issuance of Duplicate Statement Charges | Rs.500 per instance | Rs.500 per instance |
| Loan Cancellation/Re-booking Charges | Rs.2,500 per instance | Rs.2,500 per instance |
| Issuance of Credit Report | Rs.50 per instance | Rs.50 per instance |
Survoday Small Finance Bank Car Loan Documents Required
Salaried Individual
| 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 |
| Date of Birth Proof(Any 1) | Birth Certificate Passport Driving Licence PAN |
| Signature Proof(Any 1) | Passport Bankers Verification PAN |
| Income Proof | Latest Form 16 and Salary Slips |
| Bank Statement | Bank statement of last 3 months |
| Employment Continuity Proof | Work Experience Certificate ITR of Form 16 Salary Slip with Joining Date Appointment Letter Letter of Relieving |
Self-Employed Individuals
| 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 |
| Date of Birth Proof (Any 1) | Birth Certificate Passport Driving Licence PAN |
| Signature Proof (Any 1) | Passport Bankers Verification PAN |
| Income Proof | Latest Form 16 and Salary Slips |
| Bank Statement | Bank statement of last 3 months |
| Employment Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Business Proof | Current Account Statement Telephone Bill Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate Registered Lease Document with other utility bills |
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
| Category | Documents Required |
| Identity Proof (Any 1) | Driving License Aadhaar Card Passport PAN Voter ID |
| Address Proof (Any 1) | Driving License Aadhaar Card Passport PAN Voter ID |
| Income Proof | Audited Balance Sheet P&L Account and ITR for the previous 2 years |
| Bank Statement | Bank statement of last 3 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 MOA Copy of Incorporation Copy of Latest AOA |
| Address Proof (Any 1) |
Current Account Statement
Telephone Bill Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate Registered Lease Document with other utility bills |
| Income Proof | Audited Balance Sheet P&L Account and ITR for the previous 2 years |
| Bank Statement | Bank statement of last 3 months |
| Business Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Additional documents |
List of Directors and Shareholding Partners
PAN Card Board Resolution Certificate of Commencement of Business for Ltd. Co. |
Survoday Small Finance Bank Car Loan EMI Calculator
An applier has the option to know the EMI’s before availing of a Car Loan. Thus, you can quickly know the EMIs through the link below:
Survoday Small Finance Bank Car Loan Types
Survoday Small Finance Bank offers different types of car loans to its customers. Therefore, you have the choice of choosing the offer which suits your need the best. It provides the following types of Car Loans:
- New Car Loan – If you want to buy a new car, this is the scheme for you. You can take J and K Grameen Bank Bank Car Loan for a minimum of Rs. 1 lakh and a minimum tenure of 7 years.
- Used Car Loan – If you want to buy a used car, you can choose this scheme that offers a minimum loan of Rs. 1 lakh and a minimum tenure of 5 years.
- Loan Against Car – You can choose this scheme if you require urgent funds to keep your cars as collateral with the bank.
How to Apply for Survoday Small Finance Bank Car Loan?
- Visit Dialabank and fill a form.
- Our Relationship Manager will call you and guide you throughout the process.
- You can compare different offers from banks and opt for the one which suits your needs.
- Thus, you can easily apply for a Car Loan through Dialabank and enjoy the best offers.
FAQs for Survoday Small Finance Bank Car Loan
✅ What is Survoday Small Finance Bank Car Loan?
Survoday Small Finance Bank Car Loan is a financial product offered for buying a car, whether a new or used one.
✅ How can I get a Car Loan from Survoday Small Finance Bank?
You can avail of a car loan from Survoday Small Finance Bank by visiting the nearest branch of Survoday Small Finance Bank. You will get satisfaction to apply from anywhere and get car loan approval faster.
✅ How does Survoday Small Finance Bank Car Loan work?
Survoday Small Finance Bank offers car loans at attractive interest rates. You can get a car loan easily and quickly. In addition, Survoday Small Finance Bank provides flexible loan tenure duration.
✅ What is the Car Loan Interest Rate in Survoday Small Finance Bank?
The interest rate charged by Survoday Small Finance bank for a car loan starts at
7.35% per annum
.✅ How to Check Car Loan status in Survoday Small Finance Bank Bank?
You must visit the Survoday Small Finance Bank branch to check your car loan status. Also, you can use the net-banking facility of J and K Grameen Bank.
✅ How to Calculate Car Loan interest in Survoday Small Finance Bank?
For the calculation of your car loan interest in Survoday Small Finance Bank, the information required is:
- Loan tenure
- Loan amount
- Interest rate
You can calculate car loan interest and EMI for Survoday Small Finance Bank using the Emi Calculator.
✅ What is the maximum loan amount I can avail myself of on a Car Loan from Survoday Small Finance Bank?
You can avail a maximum loan amount for a car loan from Survoday Small Finance Bank is up to Rs. 5 lakhs.
✅ What is the loan tenure of Survoday Small Finance Bank Car Loan?
The loan tenure duration for a car loan from Survoday Small Finance Bank ranges from 1 to 7 years.
✅ Can I get a 100% Car Loan from Survoday Small Finance Bank?
You can get a loan up to Rs. 5 lakhs for a car loan from Survoday Small Finance Bank. To avail of a 100% Car loan, you must visit the online platform of Dialabank.
✅ How much is the processing fee applicable on Survoday Small Finance Bank Car Loan?
Survoday Small Finance Bank charged a processing fee is 0.40% of the principal amount for getting a car loan.
✅ What are the EMI options available on Survoday Small Finance Bank Car Loan?
Your car loan EMIs are automatically subtracted from your bank account. Also, you can pay your car loan EMI through the net banking facility of Survoday Small Finance Bank. Also, pay using post-dated cheques.
✅ What are the charges for Prepayment in Survoday Small Finance Bank Car Loan?
Survoday Small Finance Bank does not have prepayment charges for availing of a car loan.
✅ Can I get a top-up loan on my existing Survoday Small Finance Bank Car Loan?
Yes, you can get a top-up loan on your existing Survoday Small Finance Bank car loan. Also, get a top-up car loan by visiting the online platform of Dialabank.
✅ Do I need to provide a guarantor to avail a car loan from Survoday Small Finance Bank?
Yes, you can avail yourself of a guarantor for getting a car loan from Survoday Small Finance Bank. In addition, it will increase your car loan eligibility.
✅ What is the Survoday Small Finance Bank Car Loan Customer Care Number?
The customer care number of Survoday Small Finance Bank Bank for car loan queries is 9878981166.
✅ How can I get NOC from Survoday Small Finance Bank for a car loan?
You can get a car loan NOC from Survoday Small Finance Bank to pay your outstanding loan amount.
✅ What is the Survoday Small Finance Bank Car Loan closure procedure?
- Just go to the bank with the documents.
- Write a letter for pre-closure of the Survoday Small Finance Bank Car Loan account.
- Pay the pre-closure charges as per Survoday Small Finance Bank Car Loan.
✅ What is Survoday Small Finance Bank Bank Car Loan preclosure charges?
Survoday Small Finance Bank Car Loan preclosure charges are zero.
✅ What is Survoday Small Finance Bank Car Loan maximum tenure?
The Survoday Small Finance Bank Car Loan maximum tenure is 7 years.
✅ What is Survoday Small Finance Bank Car Loan minimum tenure?
The Survoday Small Finance Bank Car Loan minimum tenure is 1 year.
