Used Car Loan Madikeri

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Best Banks for Used Car Loan in Madikeri

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 Features Madikeri

Car is an easy mode of transportation. You don’t need to rely on public transport for travelling. But sometimes your budget doesn’t allow you to purchase a new car, so you can always apply for a used car loan to buy a car and enjoy the freedom that comes with a car.

Benefits of Used Car Loan Madikeri

An easy monthly repayment option is available.
Instantly available.
Affordable Interest Rates.
Easily and quickly available loans.
There are no hidden charges.
No collateral security is required.

Used Car Loan Madikeri 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	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 Madikeri Documents Required

Documents required for car loan are as followed:

For Salaried:

Identity Proof: PAN Card, Voters ID card, Passport copy, Driving License
Income Proof: Latest 3-month salary slip with form 16
Address Proof: Driving license / Voters card / Passport Copy / Telephone Bill / Ration card / Electricity Bill / Life Insurance Policy /PAN Card
Bank Statement: Last 3 months.

For Self Employed:

Identity Proof: PAN Card, Voters ID card, Passport copy, Driving License
Income Proof: Latest ITR
Address Proof: Voters card / Passport Copy / Ration card / Telephone Bill / Driving license / Electricity Bill / Life Insurance Policy /PAN Card
Bank Statement: Last 3 months.

Public Limited Companies, Private Limited Companies, Hindu Undivided Family – HUF can also avail used car loans.

Used Car Loan Madikeri Eligibility Criteria

The car loan eligibility requirements are as followed:

For Salaried:-

Minimum age: 21 years
Maximum age at loan maturity: 60 years
Minimum employment: 1 year in current employment and a minimum of 2 years of employment
Minimum Annual Income: Rs 2,50,000 net annual income

For Self-Employed:-

Minimum age: 25 years
Maximum age at loan maturity: 65 years
Minimum employment: Should have been in business for a minimum of 3 years
Minimum Annual Income: Rs 2,50,000 net annual income

Public Limited Companies, Private Limited Companies, Hindu Undivided Family-HUF can also take advantage of a used car loans.

Used Car Loan for Major Car Manufacturers in Madikeri

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Used Car Loan in Madikeri

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

Used Car Loan Madikeri Contact Number

In case of any queries regarding the used car loan in Madikeri, you may contact on the number 9878981166 for any sort of assistance.

Pre Calculated EMI Table for Used Car Loan Madikeri

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

Used Car Loan EMI Calculator Madikeri

About Madikeri

Madikeri is a town located in Kodagu district in the Indian state of Karnataka. It comes under the Coorg region.

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