Car Loan apply in Delhi NCR

Apply for Car Loan

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Car Loan

Car Loan is a Secured credit provided by financial institutions based on criteria like employment history, repayment capacity, income level, profession and credit history. Car Loan also known as Auto Loan, A sum of money borrowed from a financial institution or bank to purchase a car. Car loans follow most of the same rules and procedures that apply to other loans.

Features of Car Loan-:

Loan Amount	You Can Avail Loan amount up to 1.50 Cr as per your income eligibility. Maximum 95% of your Car Price.
Interest Rate	Fixed Interest Rate. Starts at 8.50% onwards.
Processing time	Only 3-4 working days Required for Sanction after process your application.
Tenure	Up To 7 Years
Processing Fee	UP TO 1% or Depend on Case
Part payment	Part payment available Depend on Case
Flexible Prepayment	Flexible Prepayment option available in Car Loan which makes it attractive.

Eligibility Criteria for Car Loan:

Eligibility Criteria	Eligibility Criteria Details
Age	Minimum Age 21 year and Maximum 65 Years at the Time of Loan Maturity
Minimum Income	35000 Net Salary Or 5 Lac Gross Annual Income ( ITR )
Cibil Score	Minimum CIBIL Score of 650 with No Any Default in Past
Employment Stability	Minimum 1 year
Resident	INDIAN Only
Who Can Avail	Car Loan Salaried Person, Self-Employed Business and Self Employed Professionals

Documents Required for Car Loan:

Required documents	Required documents for salaried	Required documents for self-employed professional
Photo	Passport size photo	Passport size photo
Id proof	Pan Card / Aadhar Card / Passport / Voter Id Card / Driving Licence	Pan Card / Aadhar Card / Passport / Voter Id Card / Driving Licence
Address proof	Aadhar Card / Passport / Voter Id Card / Driving Licence / Mobile Bill / Telephone Bill / Electricity Bill / Water bill (any one document required for address proof)	Aadhar Card / Passport / Voter Id Card / Driving Licence / Mobile Bill / Telephone Bill / Electricity Bill / Water bill (any one document required for address proof)
Income Documents	Latest 3 Months Salary slip & Last year Form-16	Last 3 year ITR, Computation, Profit & Loss Statement, Balance Sheet, Audit Report (If Audited ), GST if Applicable
Bank Statement	Latest 6 Months Bank Statement	Last 12 Months All Current / OD / CC Account Statement

Leading Banks Car Loan Interest Rates Details-

Bank Name	Interest Rates	Processing Fees
HDFC BANK	8.50%-10.50%	1%
ICICI BANK	8.90%-10.00%	1%
KOTAK MAHINDRA	11.00%-13.50%	1%
AXIS BANK	8.50%-11.50%	1%
YES BANK	10.25%-12.00%	1%
NOTE:- Mentioned Interest Rates, PF and Charges Are Subject to Change and It is Sole Discretion of RBI, Bank and NBFC.