Car Loans | Car Overdraft

Car Loans

• Repayment tenure ranges from 1 year to 7 years for New Car Loans. Six Year and Seven year loans are available for specific models.
• Maximum loan tenure for used car would depend on the age of the car. The car should not be more than 10 years old at the time of maturity of the loan.
• You may change the tenure of the loan before the loan is disbursed. The interest rate & EMI would change accordingly.
  Only two repayment dates are available every month and would depend on the date of disbursement. Payment due dates cannot be changed.
• You can make the Payments through post-dated cheques (PDCs)
• Repayment option through Direct Debit Mandates is also available.
• Option of repaying through ECS is also available in select cities.
• Payments through cash or credit cards are not accepted.
• You may change the PDC's in case your Bank Account is changed . However, we would require verification of signatures by new banker. A nominal fee of Rs.750/- (Swap Charges) would be charged for exchange of cheques.
• A full pre-payment of the loan is accepted. Part pre-payment is not allowed.
• Service Tax will be charged as applicable.
• We charge pre-payment fee of 5% on the outstanding principal amount,Service Tax will be charged as applicable.
• We charge Rs.250/-per bounced cheque.

Note: All charges are subject to Service Tax as applicable.

Billing cycle

• Statements carrying the details of your transactions with the total & minimum amount due, interest (if applicable) will be generated for a 30-day period and sent to you by the 7th of every month.
• The due date for making the payment is the 25th of every month.

Interest chargeable

• Interest is charged only on the amount utilized and for the period it has been utilized.E.g. - If out of the total sanctioned overdraft limit of Rs. 100,000, and you withdraw Rs. 25,000 for 14 days, you will be charged interest on Rs. 25,000 for 14 days.
  

Amount

On receipt of your monthly statement, you have the following payment choices:

• Pay the full dues.
• Pay a minimum of 5% of the total outstanding (for the previous calendar month) within the payment due date. For your convenience, this is specified separately in your monthly billing statement. The balance can be carried forward to subsequent months.
• Pay any amount ranging from the Minimum amount due to the total amount due.
  

Mode

• You can deposit your repayment cheques at any of the ICICI Bank Branches, ATM Centres or at the Cheque Drop Boxes conveniently located across your city.
• Cash can also be deposited at any of the bank branches

In case payment is not made by the due date, a late payment fee of 15% of the Minimum Amount Due, subject to a minimum Rs.150 and a Maximum of Rs.500 will be levied.

Please Click here if you wish to apply online for Commercial Vehicle Loans and we will send our representative to visit you.

OR

Please contact our representative near your residence / office and he will help you fill in the application form.

There is no need for you to visit our office. All formalities will be completed at your doorstep itself.

Once all the details are in our possession, the loan can be sanctioned within 24 hours.

As a policy we do not disclose the reasons for rejection.

The asset will be hypothecated to the financing institution. Till the loan is repaid,Alphazee Automobiles Pvt. Ltd retains the right to reposess the asset in case a customer does not repay the loan. However, you are still the owner of it and the invoice will be in your name. All the original papers will be kept in your possession and photocopies with Alphazee Automobiles Pvt. Ltd.

Contact Us :

Wish To Contact Us?

You can email us at alphaze@gmail.com

You can Call us at Telefax 044 2445 5551 / 2, 2454 3000/1.

You can Visit Us at :

Alphazee Automobiles Pvt. Ltd.
Alphazee,
# 1 & 2, (old 4/575), Rajiv Salai, (OMR),
(Opposite to YMCA HOSTEL)
Kottivakkam, Chennai - 600 041.
Telefax: 044 - 2454 3000/1, 2445 5551/2, Mobile: 98400 67809
E-mail: alphaze@gmail.com