Used Car Loan Ambala

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Best Banks for Used Car Loan in Ambala

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

Used Car Loan Ambala Features

Used Car Loan Ambala Focusing on buying a used car? And don’t you have the money required for it? Leave no concerns! There is a used car loan for you somewhere. A used car loan is a method of investment or financial help given to the customers by banks and NBFCs at a fair rate to help them afford a used automobile.

As used cars have now become a requirement for everybody, but the expense of used cars is rising steadily every day. This is why a used car loan comes into the equation and completes your dream to be your perfect car owner. A used car loan in Ambala has the essential components of:

Lending on a large variety of used cars and multi-use vehicles up to Rs.2.5 Crore
Provides personalized and flexible repayment plans with EMIs that are wallet-friendly
Experience clear, trouble-free registration, prompt approvals, and fast disbursements
Obtain 80% of the used car’s worth as a loan sum for 3 years without evidence of income

Used Car Loan Ambala Interest Rate

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	1%	Nil
Andhra Bank Car Loan	Nil	Nil

To check Car Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates

Apply for a Car Loan

Used Car Loan Ambala Documents Required

Documents required for car loan are as followed:

For Salaried:-

Identity Proof: PAN Card, Voters ID card, Valid Passport copy, Permanent Driving license, NREGA-printed work passport, Letter issued by the National trade register including name & address information
Income Proof: Latest Salary Slip, Latest Form 16/Latest ITR
Address Proof: Photo Driving License with DOB / Voters card / Passport Copy / Work identity card by NREGA / Letter issued by the state Register of Population providing name information & address /PAN Card
Financial statements: Pay credit record over Rs 80,000 for the previous three months

For Self Employed:-

Identity Proof: Photo Driving License with DOB / Voters card / Passport Copy / Work identity card by NREGA / Letter issued by the state Register of Population providing name information & address /PAN Card
Income Proof: Latest ITR
Address Proof: Photo Driving License with DOB / Voters card / Passport Copy / Work identity card by NREGA / Letter issued by the state Register of Population providing name information & address /PAN Card
Bank Statement: Last 6 months.

Used Car Loan in Ambala Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried:-

Average size: 21 years
The mean number at maturity of loans: 60 years
Minimum work: a job for at minimum 2 years, with an at least 1 year with the current employer
Average yearly salary: at least Rs 2,50,000 annually, including spousal salary

For Self-Employed:-

Early age: Age 25
Age limit at the term of the loan: 65 years
Average job growth: 3 years at the company
Basic total salary: at least 2.50,000 rs annually

How to Apply for Used Car Loan in Ambala?

The issuance of an Ambala used car loan is a short method with DialaBank. Follow the instructions below and get the lowest prices:

Check the website Dialabank
Select “ for used car loan readily accessible from the list
Include the info regarding the kind of used vehicle and your wages
Register for our project team to get through communication with you on your assigned number late.
In case of any doubts about both the loan, you could also notify our project managers on phone 9878981166.
To enable something like an offline used car loan anyone will need to visit the bank yourself, which may turn out that it was intense for oneself.

Used Car Loan for Major Used Car Manufacturers in Ambala

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Used Car Loan Ambala

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 Used Car Loan in Ambala

The Cibil level is named what describes your abilities to create your points pays off. A strong credit report represents a better payment history which allows the screening process for your used car loan simple which simple to operate. Most all of the time, banks and NBFCs regard a credit score of 750 or above as a successful score to sanction your Ambala bank loan method.

The above performance will vary from bank to bank, once. You would’ve been obligated to pay a high price on the loan volume in case of a weak CIBIL score than the rated value and if your CIBIL score is better then you will have to charge a lower rate of return. However, a CIBIL score from a used car loan is a critical factor.

Used Car Loan Ambala Contact Number

Users can call the number 9878981166 for any such assisting in case of any question over the used car loan in Ambala.

Pre Calculated EMI Table for Used Car Loan Ambala

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

About Ambala

Ambala is positioned at the border with Punjab and Chandigarh, an Indian state. Ambala’s Textile market is a key problem for people from all across the country. This business is the subcontinent’s biggest cloth trade market and has a massive cluster of over 900-1000 wholesale stores. The sector is skilled in hand-loom, silk sarees, suits & shirtings, and other resources for wear.