Used Car Loan Raisen| Interest Rate @13.60% p.a.

Used Car Loan Raisen

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Best Banks for Used Car Loan in Raisen

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 Raisen Features

A Used Car Loan Raisen can be availed by the people who are intending to buy a pre-owned car.

The features of Used Car Loan Raisen include:

Availability of 85% value of the car as a loan amount for five years without income proof.
You can avail a loan up to Rs.2.5 crore on pre-owned car’s worth.
Enjoy doorstep service and easy documentation facilities offered by DialaBank.
It is important to check and maintain cibil score.

*Terms and Conditions Apply

DialaBank brings in various easy-on-pocket loans with the most feasible interest rates in Raisen city.

Used Car Loan Raisen Interest Rates

Given below are details on car loan 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 Raisen Documents Required

Below are the documents required for car loan

For Salaried Individuals:

For Identity and Address Proof:

Passport
Driving license
The letter assigned by National Population Register mentioning name & address
Voters ID Card
Job card provided by NREGA

For Income Proof:

Latest Salary Slip
Bank Statements for the last 6 months
Latest Form 16/ Latest ITR

For Signature Verification Proof:

Photo Driving License
Passport Copy
Credit Card Statement and its Copy
Banker’s Verification
Copy of Margin Money Paid to Bank

For Self Employed**:

Income verification proof: Latest ITR and audited balance sheet with profit & loss account.

Identity verification proof: Memorandum and Articles of Association/ Certificate of Incorporation.

Age verification proof: Certificate of Incorporation/Memorandum and Articles of Association.

For Sign Verification Proof:

Credit Card Statement and its Copy
Copy of Margin Money Paid to Bank.
Passport Copy
Banker’s Verification
Photo Driving License

For Address verification Proof:

Telephone Bill
Electricity Bill
Memorandum and Articles of Association
Certification of Incorporation

**The companies applying for a Used Car Loan Raisen can be any of the following:

Sole Proprietorship
Partnership Firms
Private Limited Companies
Public Limited Companies

Used Car Loan Raisen Eligibility Criteria

The eligibility criteria for car loan is described below. The people eligible to apply for a Pre-Owned Car Loan in Raisen can be any of the following:

Salaried Individual:

Minimum Job Experience: Individuals with a minimum of 2 years as total job experience and a minimum of 1 year with the current employer, can apply for a used car loan.
Professional practitioners: Private and public limited company employees including central, state and local governing bodies, Doctors and CAs, can apply for a used car loan.
Minimum Earning Capacity: The people earning a minimum of Rs. 2,50,000 on yearly basis, including the income of the spouse, can apply for a used car loan.
Age Limit: People qualifying a least of 21 years of age when seeking for the credit, and a maximum of 60 years of age at the closure of the loan maturity period are eligible.

Self Employed***:

People who own a private organisation in the market of manufacturing, buying and selling, or service sectors.
Rs. 2,50,000 per year should be a minimum remuneration should be received by you.
Individuals who have provided us with an office landline number.

***The companies eligible for a Used Car Loan Raisen can be any of the following:

Sole Proprietorship
Partnership Firms
Public Limited Companies
Private Limited Companies

Used Car Loan for Major Car Manufacturers in Raisen

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Used Car Loan Raisen

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

Pre Calculated EMI Table for Used Car Loan Raisen

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 Raisen

Car Loan EMI Calculator Online.

About Raisen

Raisen is a city famous for Raisen fort, Dargah, and Sanchi Stupa acquires its name from a large fort at the tip of a mountain, the leading international university located at Sanchi Town of the Madhya Pradesh of India.