Drive Your Dream Car with Easy Car Loans
Owning a car is now easier than ever with our flexible car loan solutions. Whether you’re buying a new or used car, our car loans help you drive home your dream vehicle with affordable EMIs and quick approvals.
Car Loan Features
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Loan of up to 40 Lakh
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3 Unique Variants
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Tenure of up to 72 months
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Minimal Documentation
Features and Benefits of our Car Loan
- Attractive Interest rates
- Flexible Loan Tenures
- Fixed Interest Rates
- Customized Loan Amounts
- Convenient Monthly Repayments
- Potential Tax Benefits
- Option for New and Used Cars
- Ownership from Day One
- No Need for Full Upfront Payment
- Improve Credit Score through Timely Payments
Car Loan Eligibility (Salaried)
- Individuals who are at least 21 years old at the time of loan application and no older than 60 at the end of the loan tenure.
- Individuals who have worked for at least two years, with at least one year with the current employer.
- Minimum earnings of Rs. 2,50,000 per year, including the earnings of the spouse/co-applicant.
Car Loan Eligibility (Self-Employed)
- Individuals who are at least 21 years old at the time of application and no older than 65 at the end of the loan tenure.
- Those who have been in business for at least two years.
- Should earn at least Rs. 2,00,000 per year.
Documents Required to Apply for Car Loan
- KYC documents (Valid Photo ID Proofs)
- PAN Card
- Last 2 years’ ITR as proof of income
- Salary Slips (latest 3 months)
- Salary account statements (last 6 months)
- Signature Verification Proof
EMI Calculator for Car Loan
A Car Loan EMI calculator helps you estimate the monthly installments you will have to pay towards your Car Loan.
How to calculate:
- Enter Loan amount, interest rate, tenure
- Click Calculate
- View EMI, total interest, and total repayment
$EMI = [P * r * (1+r)^n] / [(1+r)^n – 1]$
Fees and Charges for Car Loan
| Particulars | Charges |
|---|---|
| Loan Processing Fees | 1.5% to 4% of car amount |
| Loan Cancellation | Usually around Rs. 2,000 |
| Stamp Duty Charges | As per actuals |
| Legal Fees | As per actuals |
| Penal Charges | Usually at 2% per month; 24% p.a. |
| EMI / Cheque Bounce Charges | Around Rs. 500 per bounce |
*Other fees and charges that lenders may levy include documentation, verification, and NOC charges.