Used Car Loan Pileru

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Best Banks for Used Car Loan in Pileru

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 Pileru Features

Thinking of purchasing a new car? But don’t have the required funds for it? Do not worry! A car loan is here for you. A car loan is a means of funding or financial help provided by banks and NBFCs to the applicants at an affordable rate of interest to aid them in buying a car, whether new or used.

Since cars have become a necessity for everyone, but the cost of cars is growing rapidly daily. This is where a car loan comes into play and fulfils your desire to be the owner of your dream car. The main features of a car loan in Pileru are:

Car loans are available at low interest rates
Almost all major banks and NBFCs offer car loans in Pileru
The documentation process is quick and hassle-free
Car loans are easily available through DialaBank

Used Car Loan Pileru 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 Pileru Documents Required

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

For Salaried:

Identity & Address Proof: Valid passport, permanent driving license (recent, legible, laminate), Voters ID card, Job card issued by NREGA, Letter issued by the National Population Register containing details of name and address
Income proof: Latest Salary Slip, Latest Form 16/Latest ITR
Sign Verification proof: Passport copy, Photo Driving License with DOB (recent, legible, laminated), Credit Card Statement with Credit Card Copy, Banker’s verification, Copy of Margin Money paid to the bank

For Self Employed:

Memorandum and Articles of Association/Certificate of Incorporation as age proof
Memorandum and Articles of Association/Certificate of Incorporation as identity proof
Latest ITR and audited balance sheet along with profit & loss account as proof of income
Address proof: Memorandum and Articles of Association, Certification of Incorporation, Telephone Bill, Electricity Bill
Sign verification proof: Passport copy, Photo Driving License with DOB (recent, legible, laminated), Banker’s verification, Copy of Margin Money Paid to the Bank
Also, the used car loan can be borrowed in the following type of firms as well:
- Partnership Firms
- Sole Proprietorship
- Public Limited Companies

Used Car Loan Pileru Eligibility Criteria

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

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
This involves doctors, CAs, employees of private limited companies, employees from public sector undertakings, including central, state, and local bodies

For Self-Employed:-

Minimum age: 21 years
Maximum age at loan maturity: 60 years
Minimum employment: at smallest 3 years in sales
Minimum Annual Income: Rs, 2,50,000 per annum
This includes appliers who own a private company in the business of manufacturing, trading, or services
Appliers who have an office landline

Used Car Loan for Major Car Manufacturers in Pileru

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Used Car Loan Pileru

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 Pileru

The CIBIL score is referred to as what defines your ability to pay off your credits. A higher credit score means good credit history and makes your car loan application process smooth and easy to be processed. Mostly, banks and NBFCs consider a credit score of 720 and above as a good score to approve your loan application process Pileru.

This score may again vary from bank to bank. In case of a low CIBIL score than the required value, you will be required to pay a high rate interest rate on the loan amount while if your CIBIL score is good then you may have to pay a low rate of interest. Thus, a CIBIL score is an important factor in a car loan.

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

Used Car Loan Pileru Contact Number

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

Pre Calculated EMI Table for Car Loan Pileru

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