Best Banks for Used Car Loan Sheopur
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 Sheopur Features
Have you been eyeing on a car for long? Does your financial situation hold you back from buying that car?
Well! you’ve arrived at your destination in Dialabank. Dialabank provides you with a wide variety of options to avail of a Used Car Loan under your loan.
Dialabank makes it easy for customers to desire more rather than stressing over the financial situation and complexities of sanctioning a loan under the buyer’s name.
With Dialabank say no to over-thinking and welcome the Used Car of your choice with the help of Used Car Loan Sheopur.
Dialabank is the bridge between the customers and the car providers.
- Also, get customized and Personalized help to get the used car of your choice from research to loan processing.
- Avail pocket-friendly Used car loan up to 2.5 crores on a wide range of used cars in your city.
- You get choose the repayment plans that suits you.
- Get the Flexible loan tenure ranging from 12 months to 84 months.
- The bank provides you with the Doorstep service with simple documentation.
- Transparent and hassle-free processing of the loan.
- You are updated about your loan application at every stage of the loan processing.
- Track your application anytime, anywhere.
- It is important to check and maintain cibil score.
Used Car Loan Sheopur Interest Rate
Interest rate for car loan is mentioned below:
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 | 0.01 | 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 Sheopur Documents Required
Following are the documents required for Used Car Loan:
Salaried Individuals:
1.Proof of address and identity:
- Valid Passport
- A 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 & address of the applicant
2. Proof of income:
- Latest Salary Slip of the applicant
- The Latest Form 16 is obligatory to submit
3. For signature verification:
- The Passport Copy
- Photo Driving License with DOB (recent, legible, laminated)
- Credit Card Statement with Credit Card Copy
- Banker’s Verification of the applicant
Self-employed Individual
1.Address proof:
- The Memorandum and articles of association
- Electricity Bill
- Telephone Bill
- Certificate of incorporation of the applicant
2. For address verification:
- Passport copy
- driving license copy with DOB
- Credit card statement with credit card copy
- Banker’s verification
- Copy of Margin money paid to the bank by the applicant
3. Memorandum and Articles of Association/Certificate of Incorporation as age proof of the applicant.
4. Memorandum and Articles of Association/Certificate of Incorporation as an identity proof of the applicant.
5. The Latest ITR and audited balance sheet along with profit & loss account of the applicant as proof of income.
Used Car Loan Sheopur Eligibility Criteria
Eligibility criteria for car loan are given below:
Salaried Individuals:
- The applicant must be an employee of the Pvt. Ltd. company, doctor, CA, lawyer, public sector undertaking that includes local, state, or central bodies.
- The applicant should be of a minimum of 21 years of age while applying for a loan and a maximum of 60 at the time of tenure closure of the loan.
- An employment experience of 2 years in any company along with documented proof of 1-year employment in the current company.
- The income criteria are the individual should earn a minimum of 2,50,000 per annum inclusive of the spouse’s earning is mandatory for Used Car Loan Sheopur.
Self Employed Individuals:
- The applicant must be the sole proprietor of the organization that he/she operates.
- Should earn at any rate Rs. 2,50,000 for every year.
- The individuals should have either a residence or a company’s telephone line.
Used Car Loan for Major Car Manufacturers in Sheopur
TABLE WILL APPEAR
Processing Fees / Prepayment Charges on Used Car Loan Sheopur
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 Sheopur
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
Car Loan EMI Calculator Online