Dhanalakshmi Bank offers car loans for new cars as well as used cars at an attractive interest rate of 9.85% to 10.10% for a loan tenure of 1 to 7 years. Salaried individuals and self-employed persons with a minimum annual income of Rs.2 lakh can apply for a car loan at Dhanalakshmi Bank. You can apply for maximum loan amount of up to 85% of the on-road price or 95% of the ex-showroom price of the car. Loan repayment is done through Equated Monthly Installments (EMI).
BankBazaar Dhanalakshmi Bank Car Loan EMI Calculator can be used to easily calculate the total cost of your car loan which includes the loan amount, total interest payment, and the processing fee. It is easy to use and saves you time.
This sophisticated tool gives you the option to enter prepayments, if any. It will take the prepayments into consideration while computing your EMIs. The tool also presents you with a monthly and yearly amortisation schedule for your car loan repayment.
Listed below is a sample of the EMI calculations for an average loan amount of Rs.10-40 lakh for a loan tenure of 2 to 7 years. Dhanalakshmi Bank offers car loans for an interest rate that ranges between 9.85% and 10.10% p.a. Let us consider the processing fee to be 2% and the interest rate as 9.90%.
|Loan Amount||Interest Rate||EMI for 2 years (Rs.)||EMI for 3 years (Rs.)||EMI for 4 years (Rs.)||EMI for 5 years (Rs.)||EMI for 6 years (Rs.)||EMI for 7 years (Rs.)|
You can find out how prepayments will affect your car loan repayment and prepare a budget to make equated monthly installments without fail.
The amortisation table will consist of the starting balance, interest paid, principal paid, and the ending balance.
Dhanalakshmi Bank offers car loans under the Auto Loan. Individuals, proprietors, partnership firms, agriculturists, trusts, societies and other legal entities except HUF and directors or employees of corporates are eligible to apply for a new car loan under this scheme.
Salaried individuals must be 21 to 60 years of age whereas self-employed persons can be 21 to 65 years of age. The minimum annual income should be Rs.1.20 lakh.
Passport, PAN card, voter ID, Driving Licence or Aadhaar card can be provided as age proof and identity proof. For income proof, you will have to submit salary slips, income tax returns, and balance sheet in the case of self-employed persons. Telephone or electricity bill can be provided as address proof.
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