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Car Loan Kolkata

About Kolkata

Kolkata is the capital in of India’s West Bengal state and is known for its grand colonial architecture, art galleries and cultural festivities. Other than the beauty, Kolkata is one of the affordable city in India. The cost of living is very low as compared to the other cities especially the metro cities. Another noticeable thing about Kolkata is that it has managed to board all-India bandwagon of buzzing economic sectors like Information Technology (IT) and Business Process Outsourcing (BPO) along with a good pace of development matching all India average with the liberalization of the Indian economy.

About Car Loan

The moment a new car lands into the market, it is quite normal to try if you can own it or not. Gone are the days when buying a car was only for elite class since the availability of car loans. A car loan is a medium that makes it possible for people to get a car as per their affordability by making small down payment and clearing off the rest in a small amount. Car loans are available at attractive interest rates and flexible tenure generally up to 7 years for salaried as well as self-employed customers.

Car Loan Kolkata 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 Kolkata

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 on 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 Car Loan Kolkata Interest Rate and Address

Banks NameMain Branch AddressCar Loan Interest Rate (p.a.)
State Bank Of IndiaPankhoo, Tehsil: Didihat Pithoragarh, kolkata7.20% - 7.90%
HDFC BankStephen house, 4 b.b.d. bag - east, Kolkata - 7000017.95% - 8.30%
ICICI Bank22, R N Mukherjee Road, Kolkata, 7000017.90% Onwards
Axis Bank126A, Bidhan Sarani Shyam bazar, 7000047.45% - 14.50%
Punjab National Bank1/1A & 1/1B, Tollygunge, Circular Road, Kolkata, 7000336.50% Onwards
Bank of IndiaKolkata Main, 23A - B, Netaji Subhas Road, Kolkata, 7000016.85% onwards
Bank of BarodaAlipore Branch, 38/1/E, Gopal Nagar Road, Kolkata, 7000277% onwards
Central Bank of India157 A, Rash Behari Avenue, Ballygunge, Kolkata7.25% - 7.70%
Bank of Maharashtra60C, Chowringee Road, Kolkata- 7000296.40% onwards
IDBI BankSidhha point, Ground Floor, 101, Park Street, Kolkata7.50% Onwards

Personal Loan Interest Rates March 2024
HDFC Bank10.75% - 14.50%
ICICI Bank10.75% - 19.00%
IndusInd Bank10.25% - 26.00%
Kotak Bank10.99%
RBL14.00% - 23.00%
SMFG India Credit12.00% - 24.00%
Standard Chartered Bank11.49%
Tata Capital10.50% - 24.00%
Home Loan Interest Rates March 2024
Axis Bank8.75% - 9.15%
Bank of Baroda8.50% - 10.60%
Citibank8.75% - 9.15%
HDFC8.50% - 9.40%
ICICI Bank9.00% - 9.85%
Indiabulls Housing Finance Limited8.65%
Kotak Bank8.70%
LIC Housing8.50% - 10.50%
Piramal Capital & Housing Finance10.50%
PNB Housing Finance8.50% - 10.95%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI9.10% - 9.65%
Tata Capital8.95% - 12.00%