Used Car Loan Morbi| Interest Rate @13% p.a

Used Car Loan Morbi

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Best Banks for Used Car Loan Morbi

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 Morbi Features

Morbi as a city is developing and hence the demand for used cars is also gaining numbers. In such case, it is a mandatory step for various banks and agencies to provide car loan, our capital for used cars under some hassle-free features and procedures. In such cases, the Dialabank presents great features of why loaning advance for used cars is a great deal with the bank.

Features:

The easiest ways to enroll for used car loans have the following great features to rely on:

The interest rates given by banks are low for used car loans in Morbi.
All the grand and major banks and NBFCs offer car loans in Morbi.
The documentation process is speedy.
Used Car loans are easily available through DialaBank.

Used Car Loan Morbi 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

Used Car Loan Morbi Documents Required

documents required for a car loan are mentioned here-under:

For Salaried:-

Proof of Identity: PAN Card, Voters ID card, Passport copy, Driving License
Income Proof: Latest 3-month salary slip with form 16
Proof of Residence: Driving license / Voters card / Passport Copy /PAN Card
Statements of Bank: Previous 6 months.

For Self Employed:-

Proof of Identity: PAN Card, Voters ID card, Passport copy, Driving License
Income Proof: Latest ITR
Proof of Residence: Voters card / Passport Copy / Driving license / PAN Card
Bank Statement: Last 6 months.

Used Car Loan Morbi Eligibility Criteria

eligibility criteria for a car loan are the completion of the following conditions:

For Self Employed:-

Minimum age: 25 years
Maximum age at loan maturity: 65 years
Minimum employment: at smallest 3 years in sales
Minimum Annual Income: Rs 2.5 lakhs as the annual income

For Salaried:-

Minimum age: 25 years
Maximum age at loan maturity: 60 years
Minimum employment: a minimum of 2 years of employment and 1 year in current employment
Minimum Annual Income: Rs 2.5 lakhs as the annual income

How to Apply for Used Car Loan Morbi?

Availing a car loan from Morbi is an easy process with DialaBank. Follow the following steps to avail of the best offers:

Visit our website Dialabank
Click on the car loan option available in the menu
Fill in the details regarding the car type and your income
Wait as our relationship manager will soon get in touch with you on your provided number.
You may also contact our relationship managers on the number 9878981166 in case of any queries regarding the loan.
For availing a car loan offline you will have to visit the branch personally, which might turn to be hectic for you.

Used Car Loan for Major Car Manufacturers in Morbi

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Used Car Loan Morbi

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 Morbi

The CIBIL score characterizes the FICO rating history for the candidate. This makes it simpler for fir banks to confide in the candidate with their serious cash. The better you deal with your financial assessment, the better is the opportunity to get the credit endorsed. A score of 750 or more it considers a truly fit financial assessment for the credit endorsement from practically any bank.

A good CIBIL score provides an opportunity to negotiate and reduce the car loan interest rate to a certain extent.

Used Car Loan Morbi Contact Number

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

Pre Calculated EMI Table for Car Loan Morbi

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 Morbi

Morbi or Morvi is a city and a region in the Morbi area in the Indian territory of Gujarat. It is arranged on the Kathiawar promontory. In 2011, the town’s populace was resolved to be 194,947.[1] The town of Morbi is arranged on the Machhu River, 35 km from the ocean, and 60 km from Rajkot.

A significant part of the structure legacy and town arranging is credited to the organization of Sir Lakhdhiraji Waghji,[citation needed] who controlled from 1922 to 1948

90% of India’s, and 5% of the World’s, the yield of clay things are created in Morbi.