Car loan 2018-07-04T10:02:20+00:00

Looking for a car loan?

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What is a Car loan?

A car loan is a personal loan that allows the potential buyer to pay the vehicle off in monthly payments instead of having to pay the full price all at once.

Availing car loan has the following benefits

  • Customized EMIs
  • Enhanced eligibility
  • Subject to collateral
  • Low allowances
  • Simple process
  • Ownership

Benefits of taking car loan from us

  • Avail high value loans
  • Best in class Rate of Interest
  • Tie-ups with major Indian and Foreign Banks, NBFCs and Housing finance companies

Car loan Eligibility

Salaried individuals who are eligible for a loan

  • Minimum 21 years of age
  • Maximum 70 years of age at maturity (conditions apply)
  • Minimum Net Annual Salary of Rs. 2,40,000 p.a. for all approved car models
  • Income eligibility based on latest salary slip and Form 16
  • Minimum of 1 year continuous employment

Self-employed individuals who are eligible for a loan

  • Minimum 18 years of age
  • Maximum 75 years of age at loan maturity
  • Minimum Net Annual Business income of Rs. 1,80,000 p.a. for selected models and Rs. 2,00,000 p.a. for others.
  • Income eligibility based on latest Income Tax Returns
  • Minimum 3 years of employment in the same line of business

Self-employed non-individuals who are eligible for a loan

  • Minimum Net Annual Business income or Rs. 1,80,000 p.a. for selected models and Rs. 2,00,000 p.a. for others
  • Income eligibility based on latest 2 years. Income Tax Returns and audited financials of 2 years along with computation of income
  • Minimum 3 years of employment in the same line of business

Priority/Wealth/Privee customers eligible for a loan

  • Customers with a vintage of 6 months
  • A minimum Average Quarterly Balance (AQB) as below:
    • An AQB of Rs. 1 lakh for last 2 completed quarters AQB requirement to be met for both the quarters
  • Maximum loan amount restricted to 3 times the AQB in the last 2 quarters

Salary customers eligible for a loan

  • Those who work with the following organisations:
    • Public Limited and Private Limited Companies
    • MNCs
    • Permanent employees of State / Central Government
    • Permanent employees of Public Sector Undertakings
    • Permanent employees of reputed schools / colleges
  • Other factors
    • Minimum 21 years of age
    • Maximum 70 years of age at loan maturity
    • Minimum Net Annual Salary of Rs. 2,40,000 p.a.
    • Income eligibility base on latest salary slip and Form 16
    • Minimum 1 year of continuous employment

Documentation required?

  • KYC documents
  • Proforma invoice
  • GST certificate & return
  • 3years ITR with financials
  • 1year bank statement – current & savings
  • Ownership proof
  • Existing loan track & schedule

Get A Quote Today

instantloansdelhi
408-409 Ansal Tower Naraina Vihar
Delhi
Delhi 110028
Phone: 8448448519