Description

Whether it’s a sleek new sedan or a sturdy second-hand SUV, our Auto Loan helps you turn your dream wheels into reality. With flexible EMI options, low-interest rates, and quick approval, we make vehicle ownership easy and stress-free.

Looking to buy a new or pre owned vehicle? Our hassle free Auto Loan solutions are designed to get you behind the wheel faster. With competitive interest rates, minimal paperwork, and speedy approvals, owning your dream car or bike is now easier than ever

Eligibility Criteria for Auto Loan

Documents Required:

For Individuals:

  • PAN Card & Aadhaar Card

  • Address proof (utility bill, passport, voter ID)

  • Salary slips (last 3 months) or ITR (last 2 years for self-employed)

  • Bank statements (last 6 months)

  • Quotation/proforma invoice from car dealer

For Business Owners:

  • Business registration documents

  • ITR and balance sheet (last 2 years)

  • Bank statement (last 6 months)

Auto Loan FAQs – Retail Sales Team

An auto loan is a secured loan that helps you purchase a new or used vehicle by paying in EMIs.

Yes, most lenders offer loans for used cars up to 80–90% of the car's value.

You can get up to 100% of the ex-showroom price of a new vehicle.

You can choose a repayment period from 1 to 7 years

Interest rates are fixed or floating and depend on your profile, credit score, and vehicle type.

Yes, comprehensive insurance is mandatory and often bundled with the loan.

In most cases, the loan is approved within 24 to 72 hours after submitting documents.

Yes, our online application process is simple, quick, and paperless.

Yes, a higher credit score improves your chances of approval and better interest rates.

Tax benefits are available only if the vehicle is used for business purposes and claimed under business expenses.

For most cases, yes. The down payment depends on the loan to value ratio offered.

Yes, but some lenders may charge a small prepayment/foreclosure fee.

Yes, typically 0.5% to 2% of the loan amount is charged as a processing fee.

 

It depends on the loan amount, interest rate, and tenure. Use our EMI calculator to know more.

Yes, co-applicants like spouse or parents can improve your loan eligibility.