Best Banks for Car Loan in Katol
Car Loan Katol
Car Loan KatolFeatures
⍟ Loan Approval in 30 Minutes
⍟ Lowest Rate of Interest
⍟ Up to 100% on Road Loan
⍟ Minimum Documentation
⍟ Paperless Process
⍟ Flexible Repayment
⍟ Zero Foreclosure
⍟ 24 x 7 Online Payment Facility
⍟ No Hidden Charges
If you’re looking for a car loan in Katol, you’ve come to the right place. Now compare tenures for free along with processing costs and interest rate and get approval or estimates within 30 minutes. Learn how to improve your Katol car loan eligibility, as well as the list of top banks that offer auto loans in Katoland their unique features. To make an informed decision, learn which banks offer 100% financing and have the lowest interest rates.
Car Loan KatolEligibility Criteria
| Salaried Individual |
Age – 21 years to 60 years
Net Monthly Income – Minimum ₹ 20,000 Employment Duration – 1-year minimum Income Eligibility – Based on Form 16 and salary slip |
| Self-Employed Individuals |
Age – 21-65 years of age
Minimum ITR – Rs.2 lakh Employment Duration – Minimum 3 years Income Eligibility – Depends on the latest Income Tax Returns |
| Self-Employed Non-Individuals (Company/Partnership) |
Minimum ITR – Rs. 2 lakh
Employment Duration – 3 years minimum The applicant has to present IT returns and audited financials of 2 years with Calculated Income. |
| Priority Customers |
At least 6-month vintage
Average Quarterly Balance – 2 quarters balance at a minimum of Rs.1 lakh Maximum Loan Amount – 3 times the Average Quarterly Balance of the last 2 Quarters |
Car Loan KatolEMI Calculator
Car Loan KatolFees & Charges
| Charges | New Car Loan | Used Car Loan |
| Interest Rate | 7.35% per annum |
11.80% p.a. to 13.80% p.a. |
| Car loan Processing fees | 0.5% | 0.5% |
| Issuance of Duplicate Repayment Schedule Charges | Around Rs.500 | Around Rs.500 |
| Foreclosure Charges | 0.06 | 0.06 |
| Penal Interest | 2% PM | 2% PM |
| Car loan Part Payment charges | 6% of the amount | 6% of the amount |
| Cheque/Instrument Swap Charge | Around Rs.500 | Around Rs.500 |
| Documentation Charge | Around Rs. 500 | Around Rs. 500 |
| Issuance of Duplicate No Dues Certificate Charges | Around Rs. 500 | Around Rs. 500 |
| Registration Certification Collection Charge | Around Rs. 200 | Around Rs. 200 |
| Cheque Bounce/Instrument Return Charges | Around Rs. 500 | Around Rs. 500 |
| Issuance of Duplicate Statement Charges | Around Rs. 500 | Around Rs. 500 |
| Loan Cancellation/Re-booking Charges | Around Rs. 1000 | Around Rs. 1000 |
| Issuance of Credit Report | Around Rs. 50 | Around Rs. 50 |
Car Loan KatolFees and Charges: Leading Banks –
Mar 16 2025| 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
Car Loan KatolDocuments Required
Salaried Individual
| Category |
Documents Required
|
| Identity Proof (Any 1) | Passport Voter ID Aadhar Card Driving License |
| Address Proof (Any 1) | Aadhar Card PAN Driving License Electricity Bill |
| Date of Birth Proof(Any 1) |
Passport
Birth Certificate High School Marksheet Driving Licence |
| Signature Proof(Any 1) |
PAN
Bankers Verification Passport |
| Income Proof |
Salary Slip and latest Form No.16
|
| Bank Statement |
Last 6 month Bank statement
|
| Employment Continuity Proof |
Job card by NREGA
ITR of Form no. 16 Salary Slip mentioned with joining date Letter of Appointment |
Self-Employed Individuals
| Category |
Documents Required
|
| Identity Proof (Any 1) | PAN Card Passport Voter ID Aadhar Card |
| Address Proof (Any 1) | PAN Card Voter ID Passport Electricity Bill |
| Date of Birth Proof (Any 1) | Birth Certificate Passport Driving Licence PAN |
| Signature Proof (Any 1) |
PAN
Bankers Verification Passport |
| Bank Statement |
Bank statement of last 6 months
|
| Employment Continuity Proof |
Latest ITRs
Shop & Establishment Act Certificate Shop & Establishment Act Certificate Sales Tax or VAT Certificate |
| Business Proof |
Registration Certificate
Telephone Bill/Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate |
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
| Category |
Documents Required
|
| Identity Proof (Any 1) | Driving Licence PAN Card Aadhar Card Passport |
| Address Proof (Any 1) |
Electricity Bill/Telephone Bill
Aadhar Card Driving License Voter ID |
| Income Proof |
Audited Balance Sheet
P&L Account ITR for the previous 2 years |
| Bank Statement | Last 6 month |
| Business Continuity Proof |
Company ITR of the last 2 years
Audited Balance Sheet TAX registration Certificate Current Account Statement |
| Additional documents |
Letter of Authority or PAN Card
|
2. Private Limited/Limited Companies
| Category |
Documents Required
|
| Identity Proof |
The latest copy of MOA and AOA
Copy of Incorporation |
| Address Proof (Any 1) |
SSI/MSME Registration Certificate
Telephone Bill Electricity Bill Shop & Establishment Act Certificate Sales Tax Certificate |
| Income Proof |
Audited Balance Sheet
P&L Account and ITR for the previous 2 years |
| Bank Statement | Previous 6 Months |
| Business Continuity Proof |
P&L account and
ITR of the Company of the past 2 years Audited Balance Sheet Shop & Establishment Act Certificate |
| Additional documents |
List of Shareholding partners and Directors
Board Resolution PAN Card Certificate of Commencement of Business for Ltd. Co. |
How to Get the Best Car Loan Interest Rates in Katol
The interest rates on vehicle loans offered by different lenders in Katolmay vary, but they all are competitive and reasonable. If you want to get a car loan in Katolwith the lowest interest rate, then follow the below-mentioned steps:
- Choose a shorter repayment term – Various borrowers believe that lengthier repayment terms are better as the monthly EMI (equated monthly instalment) is low. Usually applicants don’t appear to be aware that lenders view lengthier payback terms as an indication of a low repayment capabilities of a borrower, so they charge higher interest rates.
- Check and compare the perks offered by different lenders – In order to get a decent deal on an auto loan, you must compare and explore deals and benefits offered by different lenders. This will assist you in knowing which lenders has the best interest rates and which lender to choose.
- Manage a modest debt-to-income ratio – How much of an applicant’s income goes toward loan repayment is measured through the debt-to-income, and banks can take this into account when setting interest rates. A borrower has a better chance of getting a car loan with a lower interest rate if your ratio of debt to income is low.
- Carry a good credit score — If you have a good credit score then lenders are usually willing to offer you a car loan with cheaper interest rates. Lenders or banks consider a score above 750 as good. Many would give auto loans to applicant even with bad credit, but they will demand a higher rate of interest on loan.
How to Apply for a Car Loan in Katol?
Availing of a car loan in Katolis an easy process with Dialabank. Follow the below-mentioned steps to avail of the best deals:
- Visit our website Dialabank.
- Select on the car loan option in the menu.
- Fill in the all the required information regarding the your income and car type.
- Once you have filled in details, soon our relationship manager will get in touch with you on the number provided by you.
- Regarding any queries about the loan you can contact our relationship managers on 9878981166.
- Visit the branch personally for availing a offline method for car loan which might turn to be hectic for you.
Which Bank in KatolOffers the Best Car Loans?
Various NBFCs and banks, including HDFC, Private, and SBI, offer vehicle loans in Katol. The Best lender is one that provides you with a reasonable interest rate in your loan amount and can distribute the funds as quickly as feasible. It is always a good idea to check and compare vehicle loans from several lenders before applying for one that meets all of your requirements, such as interest rates.
Car Loan for Major Car Manufacturers in Katol
TABLE WILL APPEARProcessing Fees / Prepayment Charges on Car Loan Katol
| 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 |
CIBIL Score Required for Car Loan in Katol
A CIBIL Score is referred to as what defines your ability to pay off your credits. A high Credit score means applicant has a good credit history and makes your loan application process easy and smooth to be processed. Majority, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Katol.
This score usually vary from bank to bank. If you have 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 you have a good CIBIL score, then you may have to pay a low rate of interest.
Car Loan KatolContact Number
If case you face any queries regarding the car loan, you may contact on the number 9878981166 for any assistance.
Pre Calculated EMI Table for Car Loan Katol
| 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 Katol
Best Banks for Car Loan in Katol
Car Loan KatolFeatures
⍟ Loan Approval in 30 Minutes
⍟ Lowest Rate of Interest
⍟ Up to 100% on Road Loan
⍟ Minimum Documentation
⍟ Paperless Process
⍟ Flexible Repayment
⍟ Zero Foreclosure
⍟ 24 x 7 Online Payment Facility
⍟ No Hidden Charges
If you’re looking for a car loan in Katol, you’ve come to the right place. Now compare tenures for free along with processing costs and interest rate and get approval or estimates within 30 minutes. Learn how to improve your Katol car loan eligibility, as well as the list of top banks that offer auto loans in Katoland their unique features. To make an informed decision, learn which banks offer 100% financing and have the lowest interest rates.
Car Loan KatolEligibility Criteria
| Salaried Individual |
Age – 21 years to 60 years
Net Monthly Income – Minimum ₹ 20,000 Employment Duration – 1-year minimum Income Eligibility – Based on Form 16 and salary slip |
| Self-Employed Individuals |
Age – 21-65 years of age
Minimum ITR – Rs.2 lakh Employment Duration – Minimum 3 years Income Eligibility – Depends on the latest Income Tax Returns |
| Self-Employed Non-Individuals (Company/Partnership) |
Minimum ITR – Rs. 2 lakh
Employment Duration – 3 years minimum The applicant has to present IT returns and audited financials of 2 years with Calculated Income. |
| Priority Customers |
At least 6-month vintage
Average Quarterly Balance – 2 quarters balance at a minimum of Rs.1 lakh Maximum Loan Amount – 3 times the Average Quarterly Balance of the last 2 Quarters |
Car Loan KatolEMI Calculator
Car Loan KatolFees & Charges
| Charges | New Car Loan | Used Car Loan |
| Interest Rate | 7.35% per annum |
11.80% p.a. to 13.80% p.a. |
| Car loan Processing fees | 0.5% | 0.5% |
| Issuance of Duplicate Repayment Schedule Charges | Around Rs.500 | Around Rs.500 |
| Foreclosure Charges | 0.06 | 0.06 |
| Penal Interest | 2% PM | 2% PM |
| Car loan Part Payment charges | 6% of the amount | 6% of the amount |
| Cheque/Instrument Swap Charge | Around Rs.500 | Around Rs.500 |
| Documentation Charge | Around Rs. 500 | Around Rs. 500 |
| Issuance of Duplicate No Dues Certificate Charges | Around Rs. 500 | Around Rs. 500 |
| Registration Certification Collection Charge | Around Rs. 200 | Around Rs. 200 |
| Cheque Bounce/Instrument Return Charges | Around Rs. 500 | Around Rs. 500 |
| Issuance of Duplicate Statement Charges | Around Rs. 500 | Around Rs. 500 |
| Loan Cancellation/Re-booking Charges | Around Rs. 1000 | Around Rs. 1000 |
| Issuance of Credit Report | Around Rs. 50 | Around Rs. 50 |
Car Loan KatolFees and Charges: Leading Banks –
Mar 16 2025| 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
Car Loan KatolDocuments Required
Salaried Individual
| Category |
Documents Required
|
| Identity Proof (Any 1) | Passport Voter ID Aadhar Card Driving License |
| Address Proof (Any 1) | Aadhar Card PAN Driving License Electricity Bill |
| Date of Birth Proof(Any 1) |
Passport
Birth Certificate High School Marksheet Driving Licence |
| Signature Proof(Any 1) |
PAN
Bankers Verification Passport |
| Income Proof |
Salary Slip and latest Form No.16
|
| Bank Statement |
Last 6 month Bank statement
|
| Employment Continuity Proof |
Job card by NREGA
ITR of Form no. 16 Salary Slip mentioned with joining date Letter of Appointment |
Self-Employed Individuals
| Category |
Documents Required
|
| Identity Proof (Any 1) | PAN Card Passport Voter ID Aadhar Card |
| Address Proof (Any 1) | PAN Card Voter ID Passport Electricity Bill |
| Date of Birth Proof (Any 1) | Birth Certificate Passport Driving Licence PAN |
| Signature Proof (Any 1) |
PAN
Bankers Verification Passport |
| Bank Statement |
Bank statement of last 6 months
|
| Employment Continuity Proof |
Latest ITRs
Shop & Establishment Act Certificate Shop & Establishment Act Certificate Sales Tax or VAT Certificate |
| Business Proof |
Registration Certificate
Telephone Bill/Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate |
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
| Category |
Documents Required
|
| Identity Proof (Any 1) | Driving Licence PAN Card Aadhar Card Passport |
| Address Proof (Any 1) |
Electricity Bill/Telephone Bill
Aadhar Card Driving License Voter ID |
| Income Proof |
Audited Balance Sheet
P&L Account ITR for the previous 2 years |
| Bank Statement | Last 6 month |
| Business Continuity Proof |
Company ITR of the last 2 years
Audited Balance Sheet TAX registration Certificate Current Account Statement |
| Additional documents |
Letter of Authority or PAN Card
|
2. Private Limited/Limited Companies
| Category |
Documents Required
|
| Identity Proof |
The latest copy of MOA and AOA
Copy of Incorporation |
| Address Proof (Any 1) |
SSI/MSME Registration Certificate
Telephone Bill Electricity Bill Shop & Establishment Act Certificate Sales Tax Certificate |
| Income Proof |
Audited Balance Sheet
P&L Account and ITR for the previous 2 years |
| Bank Statement | Previous 6 Months |
| Business Continuity Proof |
P&L account and
ITR of the Company of the past 2 years Audited Balance Sheet Shop & Establishment Act Certificate |
| Additional documents |
List of Shareholding partners and Directors
Board Resolution PAN Card Certificate of Commencement of Business for Ltd. Co. |
How to Get the Best Car Loan Interest Rates in Katol
The interest rates on vehicle loans offered by different lenders in Katolmay vary, but they all are competitive and reasonable. If you want to get a car loan in Katolwith the lowest interest rate, then follow the below-mentioned steps:
- Choose a shorter repayment term – Various borrowers believe that lengthier repayment terms are better as the monthly EMI (equated monthly instalment) is low. Usually applicants don’t appear to be aware that lenders view lengthier payback terms as an indication of a low repayment capabilities of a borrower, so they charge higher interest rates.
- Check and compare the perks offered by different lenders – In order to get a decent deal on an auto loan, you must compare and explore deals and benefits offered by different lenders. This will assist you in knowing which lenders has the best interest rates and which lender to choose.
- Manage a modest debt-to-income ratio – How much of an applicant’s income goes toward loan repayment is measured through the debt-to-income, and banks can take this into account when setting interest rates. A borrower has a better chance of getting a car loan with a lower interest rate if your ratio of debt to income is low.
- Carry a good credit score — If you have a good credit score then lenders are usually willing to offer you a car loan with cheaper interest rates. Lenders or banks consider a score above 750 as good. Many would give auto loans to applicant even with bad credit, but they will demand a higher rate of interest on loan.
How to Apply for a Car Loan in Katol?
Availing of a car loan in Katolis an easy process with Dialabank. Follow the below-mentioned steps to avail of the best deals:
- Visit our website Dialabank.
- Select on the car loan option in the menu.
- Fill in the all the required information regarding the your income and car type.
- Once you have filled in details, soon our relationship manager will get in touch with you on the number provided by you.
- Regarding any queries about the loan you can contact our relationship managers on 9878981166.
- Visit the branch personally for availing a offline method for car loan which might turn to be hectic for you.
Which Bank in KatolOffers the Best Car Loans?
Various NBFCs and banks, including HDFC, Private, and SBI, offer vehicle loans in Katol. The Best lender is one that provides you with a reasonable interest rate in your loan amount and can distribute the funds as quickly as feasible. It is always a good idea to check and compare vehicle loans from several lenders before applying for one that meets all of your requirements, such as interest rates.
Car Loan for Major Car Manufacturers in Katol
TABLE WILL APPEARProcessing Fees / Prepayment Charges on Car Loan Katol
| 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 |
CIBIL Score Required for Car Loan in Katol
A CIBIL Score is referred to as what defines your ability to pay off your credits. A high Credit score means applicant has a good credit history and makes your loan application process easy and smooth to be processed. Majority, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Katol.
This score usually vary from bank to bank. If you have 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 you have a good CIBIL score, then you may have to pay a low rate of interest.
Car Loan KatolContact Number
If case you face any queries regarding the car loan, you may contact on the number 9878981166 for any assistance.
Pre Calculated EMI Table for Car Loan Katol
| 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 Katol
Kotal is a city and a municipal municipality in the Maharashtra state of India’s Nagpur district. It is the administrative center of Katol taluka, one of the district’s 14 talukas. It is a key center for orange commerce due to its location in the orange belt.
FAQ’s About Katol Car Loan
✅ What types of vehicles can I acquire with a car loan?
Car loans can be used to buy numerous passenger vehicles, including SUVs (Sport Utility Vehicles), MUVs (Multi Utility Vehicles), and many other types of vehicles. You can also get a car loan to purchase a vehicle for business purposes. Some lenders also provide tractor, truck and construction equipment loans.
✅ Is the car loan interest rate negotiable?
Usually the interest rate are negotiable but it majorly depends on your CIBIL Score, past records, past relationship with the money lenders and other factors.
✅ What is a good car loan CIBIL score?
A CIBIL score of 750 and above is a good for.