Car Loan Chandigarh
Last Updated : Jan. 11, 2019, 6:05 p.m.
About Chandigarh
Chandigarh has been rated as the ‘Wealthiest Town’ of India and has also been ranked as the third-largest deposit center and seventh largest credit center nationwide by the Reserve Bank of India. The city is also identified as the emerging outsourcing and IT services and hence the population of working professionals is high here. This beautiful city continues to be an attractive tourist destination with popular places like Rock Garden where the sculptures are made of stones, recycled ceramics, and industrial relics, and the Open Hand Monument. Chandigarh has always got the fame for being one of the cleanest cities in India with amazing roads and transportation facility.
About Car Loan
With the major population of young people, Chandigarh holds a great collection of cars as almost every individual owns a car. Those who are living in Chandigarh are living the life of amazing road traveling experience since the roads are smooth. Who does not want to drive a car of his own with such beauty all around? So, get a car for yourself by applying for a car loan now. You will also be happy to hear that Chandigarh has a great demand for auto vehicles, as there are many companies and colleges in the city and people want to have a comfortable traveling. Hence, a car loan in Chandigarh is always in demand. Having said that, all the top banks in India offer car loans in this city from State Bank of India to Bank of Baroda. So, choose the best car loan provider who suits your purpose and get an affordable car loan without any hassle.
Car Loan Chandigarh in a nutshell
| Particulars | Details |
|---|---|
| Interest Rate | 7.45% - 14.01% |
| Processing Fee | ₹500-₹5500; 0.25%-0.50% of the loan amount |
| Pre-payment/Part-payment Charges | Pre-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/Repayment | 1-7 years |
| Lowest EMI | ₹1,594-₹2,015(per lakh) |
Eligibility Criteria required for Car loan in Chandigarh
| Particulars | Salaried Individuals | Self-Employed Individual | Partnership Firm | Private/Public Ltd. Company (in existence for at least 3 years) |
|---|---|---|---|---|
| Age | The 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 loan | Any 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 lakhs | Minimum turnover of ₹2.50 lakhs |
| Job Stability | The total employment stability should be for at least 2 years and current employment stability of minimum 1 year | Business stability should be for at least 2 years | ||
Documentation Required for Car Loan Chandigarh
- 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 Car Loan Chandigarh Interest Rate and Address
| Banks Name | Main Branch Address | Car Loan Interest Rate (p.a.) |
|---|---|---|
| State Bank Of India | Attawa Sector-42, Chandigarh-160036 | 7.20% - 7.90% |
| HDFC Bank | Sco 371 - 372, , Sector 35 - B, , Chandigarh - 160022, Union Territory | 7.95% - 8.30% |
| ICICI Bank | SCO 9 - 10 - 11, Sector 9 - D Chandigarh 160017 | 7.90% Onwards |
| Axis Bank | SCO 20 - 21 - 22 Sector 34 - A, 160022 | 7.45% - 14.50% |
| Punjab National Bank | PNB House, Sector 17 - B, Chandigarh - 160017 | 6.50% Onwards |
| Bank of India | Bank Square, , Sector 17, , Chandigarh, 160017 | 6.85% onwards |
| Bank of Baroda | Agriculture Hi Tech Br. Chandigarh SCO 91, Sector 44 C, Chandigarh, 160047 | 7% onwards |
| Central Bank of India | Sco 68 - 69 Bank Square Sector 17 - B Chandigarh 160022 | 7.25% - 7.70% |
| Bank of Maharashtra | Sco 88 - 89, Sector 17, Chandigarh, 160017 | 6.40% onwards |
| IDBI Bank | Sco 55 - 56 - 57, Madhya Marg Sector 8, Chandigarh | 7.50% Onwards |
