Car Loan

Apply For Car Loan

Auto Loans Interest Rates w.e.f. 01.02.2024

(Interest Rate applied at the time of disbursement will remain same for the entire loan period)

New Car Loans based on Cibil scores

775 & Above 8.85%* for 5 Years 8.95% Above 5 Years

757 - 774 8.95% for 5 Years 9.05% Above 5 Years Above 5 years Above 5 years 5 years bo5 years

721 - 756 9.20% for 5 Years 9.30% Above 5 Years

700 - 720 9.45% for 5 Years 9.55% Above 5 Years

Certified Pre-owned Car Loan Scheme

From 11.50% to 14.75%

Apply For Car Loan

Features

Car loan for Non-Resident Indian (Under the NRI – Car Loan Scheme, the NRI will be the Borrower and the NRI’s close relative in India will be the Co- Applicant or Guarantor)Loan amount eligible is derived on the basis of the Applicant’s (Borrower) income.Competitive Interest RatesInterest Rates : as per cibil Processing Fee : Repayment period: Up to 7 years Interest calculated on Daily Reducing Balance.Financing up to 90% of 'On-road Price'. On-Road price includes Vehicle Ex-Show Room Price, Registration & Insurance cost. EMI/NMI: Up to Rs.5 Lakhs 50% , Rs. 5- 10 Lakhs 60%, Above Rs. 10 Lakhs 65% Income: - For Borrower: Minimum NMI US $ 1000.00 or equivalent in other currencies Or, Minimum NAI US $ 12000 or equivalent in other currencies Repayment: Standing Instruction (SI) on Applicant’s NRI Account with Loan for purchase of new passenger cars, Multi Utility Vehicles (MUVs) and SUVs.

List of documents required for loan
> General Documents:
1. 3 photographs.
2. Proof of ldentify (PAN card/ Passport/ Driving License Voter
ID/Aadhar Card).
3. Proof of Residence (Elec. Bill) Tele. Bill / Ration Card /Employer
Certificate).
4. Photographs of borrower / co-borrower/ guarantor.
5. Loan A/c statement for the last 1-year of existing loan.
6. Statement of accounts-SB account/current account.
> For Salaried Employees
1. Salary Slips-Last 3 months.
2. Form 16-Last 2 years.
3. Employer's Certificate / Serving Certificate for defense Personal.
>For self Employment/professionals/Businessmen
1. Income Tax Returns - last 3 years.
2. Balance sheet and profit & loss A/c with computation sheet-last 3
years.
3. Business Address proof.
4. TDS certificate or form 16A 26 as if applicable.
Down Payment Verification: Evidence of the source of funds for your down payment, such as bank statements or a gift letter.
Trade-In Documentation (if applicable): If you are trading in a vehicle, documents related to its ownership and value estimation.

It's important to note that this checklist is a general guide, and specific requirements may vary depending on the lender or financial institution. I recommend contacting your lender directly or visiting their website for a comprehensive and up-to-date document checklist tailored to their specific car loan application process.