Car Loan Rates EMI 2024

Car Loan Chandigarh

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

Interest Rate7.45% - 14.01%
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 Chandigarh

ParticularsSalaried IndividualsSelf-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.
IncomeMinimum 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 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 NameMain Branch AddressCar Loan Interest Rate (p.a.)
State Bank Of IndiaAttawa Sector-42, Chandigarh-1600367.20% - 7.90%
HDFC BankSco 371 - 372, , Sector 35 - B, , Chandigarh - 160022, Union Territory7.95% - 8.30%
ICICI BankSCO 9 - 10 - 11, Sector 9 - D Chandigarh 1600177.90% Onwards
Axis BankSCO 20 - 21 - 22 Sector 34 - A, 1600227.45% - 14.50%
Punjab National BankPNB House, Sector 17 - B, Chandigarh - 1600176.50% Onwards
Bank of IndiaBank Square, , Sector 17, , Chandigarh, 1600176.85% onwards
Bank of BarodaAgriculture Hi Tech Br. Chandigarh
SCO 91, Sector 44 C, Chandigarh, 160047
7% onwards
Central Bank of IndiaSco 68 - 69 Bank Square Sector 17 - B Chandigarh 1600227.25% - 7.70%
Bank of MaharashtraSco 88 - 89, Sector 17, Chandigarh, 1600176.40% onwards
IDBI BankSco 55 - 56 - 57, Madhya Marg Sector 8, Chandigarh7.50% Onwards

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