Car Loan Rates EMI 2024

Car Loan Guwahati

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

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 Guwahati

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

  • 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 NameMain Branch AddressCar Loan Interest Rate (p.a.)
State Bank Of IndiaPan Bazar, Guwahati, Assam- 7810017.20% - 7.90%
HDFC BankHDFC Bank Ltd, Quality Initiative Group, 2nd Floor, Build Well Compound Between Darwin School and NEPPCO Bhawan R G Baruah Road Guwahati, Assam-7810057.95% - 8.30%
ICICI BankICICI Bank Ltd, Ohio Shopping Complex, Fancy Bazar, M.G.Road, Guwahati, Assam-7810017.90% Onwards
Axis BankAdministrative Office, Chibber
House, 3rd Floor, G S Road,
Guwahati. Assam-781 005
7.45% - 14.50%
Punjab National BankNilgiri Mansion, Bhangagarh, G S Road,Guwahati, Assam-7810056.50% Onwards
Bank of IndiaSaikia Commercial Complex,
G.S.Road, Srinagar, Guwahati, Assam-781 005
6.85% onwards
Bank of BarodaG.S. Road, Bhangagarh, Guwahati, Assam-7810057% onwards
Central Bank of IndiaG.S. Road, Central Bank of India Building, Bhangagarh, Guwahati, Assam-7810057.25% - 7.70%
Bank of MaharashtraHengrabari Road, Ganeshguri, Dispur, PO Assam Sachibalay, District- Kamrup, Guwahati-781 0066.40% onwards
IDBI BankG.S. Road, Guwahati, Assam-7810057.50% Onwards

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