Car Loan Guwahati
Last Updated : Jan. 11, 2019, 6:06 p.m.
About Guwahati
In 2016, reports said that Assamoil economy is set to get a boost once the hidden treasures of Guwahati are explored. No doubt the city is a heaven on earth but is also getting the boost in terms of economy. Having said that, the major economic activities of Guwahati are trade, commerce, transportation and various other services. Also, the Guwahati Refinery is the most important manufacturing industry in the city. In the year 2010, the GDP (Gross Domestic Product) of Guwahati metro was calculated to be at $1 billion. Guwahati remains a traditionally important administrative and trading center as it a river port. The city is also one of the leading wholesale distribution centers as well as the retail hub of Assam.
About Car Loan
Guwahati is a beautiful place to live a peaceful life and if you are planning to get an eco-friendly car to keep the beauty unharmed, a car loan can make your dream come true. Almost all centralized banks, private and international banks like HDFC, Axis Bank, Yes Bank, HSBC, Standard Chartered Bank, Overseas Bank etc. have already set up their branches in Guwahati. So, you can apply for a car loan at any one the bank where you are eligible and get the interest rate of 11.50%-13.75% p.a.
Car Loan Guwahati 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 Guwahati
| 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
- 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 ₹2,50,000 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 Interest Rate and Address in Guwahati
| Banks Name | Main Branch Address | Car Loan Interest Rate (p.a.) |
|---|---|---|
| State Bank Of India | Pan Bazar, Guwahati, Assam- 781001 | 7.20% - 7.90% |
| HDFC Bank | HDFC Bank Ltd, Quality Initiative Group, 2nd Floor, Build Well Compound Between Darwin School and NEPPCO Bhawan R G Baruah Road Guwahati, Assam-781005 | 7.95% - 8.30% |
| ICICI Bank | ICICI Bank Ltd, Ohio Shopping Complex, Fancy Bazar, M.G.Road, Guwahati, Assam-781001 | 7.90% Onwards |
| Axis Bank | Administrative Office, Chibber House, 3rd Floor, G S Road, Guwahati. Assam-781 005 | 7.45% - 14.50% |
| Punjab National Bank | Nilgiri Mansion, Bhangagarh, G S Road,Guwahati, Assam-781005 | 6.50% Onwards |
| Bank of India | Saikia Commercial Complex, G.S.Road, Srinagar, Guwahati, Assam-781 005 | 6.85% onwards |
| Bank of Baroda | G.S. Road, Bhangagarh, Guwahati, Assam-781005 | 7% onwards |
| Central Bank of India | G.S. Road, Central Bank of India Building, Bhangagarh, Guwahati, Assam-781005 | 7.25% - 7.70% |
| Bank of Maharashtra | Hengrabari Road, Ganeshguri, Dispur, PO Assam Sachibalay, District- Kamrup, Guwahati-781 006 | 6.40% onwards |
| IDBI Bank | G.S. Road, Guwahati, Assam-781005 | 7.50% Onwards |
