Car Loan Bhubaneswar

About Bhubaneswar

Bhubaneswar is known for its business structure and economic growth and the backbone of the economy of Odisha. From last two decades, Bhubaneswar has emerged as one of the fastest growing economic hubs of eastern India. The city has a well-developed banking network compared to many states of India. Other than this, the tourism industry also accounts for substantial employment opportunities in the city. The financial and insurance service sector of Bhubaneswar contributes to 13.64% and the transport service contributes to 10.99% of the estimated 51% to the GSDP which clearly shows the potential of the place.

About Car Loan

Bhubaneswar is a place with high scope for people who want to start their own transport business. So, if you are looking for affordable auto loans or a vehicle loan or a car loan, there are best deals available in the city. You can choose the best car loan offer from top banks in India and start your business or for your personal use, you can get the best car loan offer at the lowest interest rate of 8.70% p.a. Yes, there are multiple customer-friendly options available in Bhubaneswar.

Car Loan Bhubaneswar in a nutshell

ParticularsDetails
Interest Rate8.60% - 16.25%
Processing Fee₹500-₹5500; 0.25%-0.50% of the loan amount
Pre-payment/Part-payment ChargesPre-payment charges- 5% of the principal outstanding+service tax as applicable

Part-payment charges- 5% of the part payment amount+service tax as applicable
Tenure/Repayment1-7 years
Lowest EMI₹1,594-₹2,015(per lakh)

Eligibility Criteria required for Car loan in Bhubaneswar

ParticularsSalaried Individuals Self-Employed IndividualPartnership FirmPrivate/Public Ltd. Company (in existence for at least 3 years)
AgeThe applicant should be above 18 years at the time of application, and up to 60 years of age at the time of maturity of the loanAny proprietor, partner, professional or director above 18 years but below 65 years at the time of the loan maturity.
Income Minimum gross annual income of at least ₹2,50,000/-Minimum gross annual income of at least ₹2,50,000/-Firm should have a minimum turnover of ₹2.50 lakhsMinimum turnover of ₹2.50 lakhs
Job StabilityThe total employment stability should be for at least 2 years and current employment stability of minimum 1 yearBusiness stability should be for at least 2 years

Documentation Required for Car Loan

  • Proof of Identity: Passport copy, PAN Card, Voter ID card, driving license( Laminated, Recent, Legible)
  • Proof of Address: Ration card/Driving license/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy.
  • Proof of Income: Latest salary slip with form 16/Audited balance sheet, Profit & Loss Account for latest two years/a minimum turnover of ₹4,50,000 per annum/Audited balance sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company/Latest ITR
  • Bank Statement: Last 6 months

Top Banks for Car Loan in Bhubaneswar- Interest Rate and Address

Banks NameMain Branch AddressInterest Rate (p.a.)
State Bank Of India111/1, Pandit Jawaharlal Nehru Marg, Unit - 3, Kharabela Nagar, Bhubaneswar, 7510019.05% - 12.60%
HDFC BankShaheed Nagar, Business Park, First Floor Business Park First Floor C111 - Saheednagar, Bhubaneswar, 7510078.00% - 13.00%
ICICI BankOccf Building Opposite Sriya Cinema Hall, Kharvelanagar, Unit 3, Kharabela Nagar, Bhubaneswar 75100110.75% - 15.50%
Axis BankBhawani Mall, BMC Bhawani Commercial Complex, Shahid Nagar, Bhubaneswar, 754001

11.00% - 12.00%

Punjab National Bank122-A, Station Square, Near Bbsr Station, Master Canteen, Bhubaneswar, 7510018.75% - 9.20%
Bank of IndiaBhubaneshwar Ssi Branch 102, Cuttack Road,9.25%
Bank of Baroda227 Sarla Nagar, Laxmi Sagar, Cuttack Puri Road, Bhubaneshwar, Dist. Khurda, 751 006.8.80% - 10.55%
Central Bank of IndiaPlot No. 108 - B, Unit No. VII, Ground Floor, Suryanagar, Bhubaneshwar 8.70%
Bank of MaharashtraPlot No.-426/2260, Near N.H-5, N.B Tower, Nayapally, Bhubaneshwar- 7510128.90% - 9.40%
IDBI BankIDBI Bank Ltd. Lewis Road Branch, Lewis Plaza, BJB Nagar Plot No- 387 Bhubaneshwar-7510149.95% - 12.05%

People Also Look For

Personal Loan Interest Rates October 2018
Bajaj Finserv10.99% - 16.00%
Fullerton India14.00% - 33.00%
HDFC Bank11.25% - 21.50%
ICICI Bank10.99% - 18.40%
IndusInd Bank10.99% - 16.00%
Kotak Bank10.99% - 20.99%
RBL13.00% - 18.00%
Standard Chartered Bank11.50% - 14.50%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates October 2018
State Bank of India/SBI8.70% - 9.25%
HDFC8.80% - 9.60%
Bank of Baroda8.55% - 9.55%
LIC Housing8.70% - 9.05%
PNB Housing Finance9.00% - 13.00%
ICICI Bank8.85% - 9.10%
Axis Bank8.80% - 9.05%
Citibank8.90% - 9.65%
Indiabulls Housing Finance Limited8.80% - 11.05%
Kotak Bank8.75%
DHFL9.05% - 9.95%
Reliance Home Finance8.75% - 10.00%
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