Used Car Loan Rath

Best Banks For Used Car Loan In Rath

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 Rath Features

Make your car dream come true by applying for a used car loan now!

One can avail of up to Rs.2.5 crore of loan amount by getting approximately 3 to 6 times your annual income as well as can borrow up to 100% of the value of the car*

Some other amazing used car loan Rath features include:

• Hassle and complex free process.
• Quick and fast loan approvals and disbursals.
• Easy pickup services of the documents from your door.
• Up to 85% of the value of the car as a loan amount for 5 years and that too without any income proof.

*Age of Car should not cross 10 years at loan maturity. The maximum loan tenure of 60 months is available with flexible repayment tenures from 12 months to 60 months.

Terms & conditions apply, offers on specific models only.

Visit Dialabank to know more about Used Car Loan Rath.

Used Car Loan Rath 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 Rath Documents Required

Documents required for car loan are as followed:

For Salaried Individual:

Any of the following documents as identity & Address Proof:

• Valid Passport
• Permanent Driving license [recent, legible, laminate]
• Letter issued by the National Population Register containing details of name & address
• Voters ID Card
• Job card issued by NREGA

All the following documents as proof of income:

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

Any of the following for sign verification proof:

• Credit Card Statement with Credit Card Copy
• Banker’s Verification
• Passport Copy
• Photo Driving License with DOB (recent, legible, laminated)
• Copy of Margin Money Paid to the Bank

For Self Employed**:

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

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

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

Any of the following documents as address proof:

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

Any of the following for sign verification proof:

• Passport Copy
• Credit Card Statement with Credit Card Copy
• Banker’s Verification
• Photo Driving License with DOB (recent, legible, laminated)
• Copy of Margin Money Paid to the Bank.

**The following type of companies can also apply for a Used Car Loan Rath:

1. Sole Proprietorship
2. Partnership Firms
3. Private Limited Companies
4. Public Limited Companies

Used Car Loan Rath Eligibility Criteria

The car loan eligibility requirements are as followed:

Salaried Individual:

• The applicant must be: Who is a doctor, CAs, private limited company employee, employees from public sector undertakings including central, state, and local bodies.
• Age Range: Individuals who are a minimum of 21 years of age when applying for the loan, and a maximum of 60 years of age at the end of the loan tenure
• Minimum Work Experience: Individuals who at least have had a job for 2 years, with a minimum of 1 year with the present employer.
• Minimum Earning: Those who earn a minimum of Rs. 2,50,000 per year., The income of the spouse can be considered as one with the applicant’s income.

Self Employed***:

• This includes individuals who own a private company in the business of manufacturing, trading, or services
• Rs. 2,50,000 per annum should be a minimum earning.
• Individuals who have an office landline.

***The following type of companies are also eligible for a Used Car Loan Rath:

1. Sole Proprietorship
2. Partnership Firms
3. Private Limited Companies
4. Public Limited Companies

Used Car Loan For Major Car Manufacturers In Rath

TABLE WILL APPEAR

Processing Fees / Prepayment Charges On Used Car Loan In Rath

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
	>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 Rath

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

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Used Car Loan EMI Calculator

About Rath

Rath is a town with a municipal board in the Hamirpur district of Uttar Pradesh. Rath is a Tehsil of Hamirpur District.

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