Are you looking forward to buy a car? Have you finally decided to let go of travelling by public transport because of the discomfort and pollution? If the answer to these questions is yes, then we will be very pleased to help you.
We can arrange tailor made Car Loan products that take the hassle out of buying a car. We realize that owning a car has increasingly become a necessity. Many Financial Institutions offer a wide range of car loans that can be tailored to your needs.
| Purpose | Documents |
|---|---|
| Proof of Identity | PAN Card, Valid Passport, Voter ID Card, Aadhar Card |
| Proof of both residence | Valid Passport, Voter ID Card, Aadhar Card, Latest Utility Bill like Electricity / Telephone Bill |
| Proof of income |
|
| Other documents |
|
| Car Related Documents |
|
All documents to be self attested. The above list is indicative in nature and additional documents can be asked for.
We offer Auto Loans from Rs. 1 Lakh onwards. Some of the factors we consider when deciding on a loan amount are:
Your requirement and eligibility
Your income
Your repayment capacity
We offer Auto Loans for most passenger cars, multi-utility vehicles and sports-utility vehicles that are available in India.
No, but if your income does not meet credit criteria then you may be required to have a guarantor
The choice is yours. You can choose any repayment option from 12 to 84 months all specially designed to suit your requirements.
Once we receive a completed application form along with necessary documents like income proof, identity proof, invoice, and so on, the following steps take place:
Your vehicle itself is used as collateral and will be hypothecated to Lender for the loan period. Apart from this, no other security or collateral is required.
Most Lenders offers fixed interest rates, which are among the most attractive Auto Loan rates in India today.
Yes. You can pre-pay the loan any time after 6 months of availing of the loan. You just have to pay a small pre-payment fee on the outstanding loan amount.
Before processing for foreclosure, all outstanding dues must be cleared. So we request you to first check for and clear any remaining amount that may be payable towards your Auto Loan by requesting a foreclosure statement.
Once your Auto Loan has been closed, Lender will provide you the following documents to remove hypothecation from your Registration Certificate:
The vehicle age at the end of Loan against Car tenure should not exceed:
7 Years for Private Usage and
6 Years for Commercial Usage
The tenure options range from 12-72 months. The vehicle age at the end of Loan against Car tenure should not exceed 7 Years (Private Usage) and 6 Years (Commercial Use).
Any applicant owning a car, including a fleet operator or taxi where the present vehicle age is not more than 60 months, can avail of the Loan against Car.
No. The car itself acts as a security.
