Your Road to a New Car Starts Here

Experience the Auto-Loan

Getting a new car is exciting, and we're here to help you drive it home! Our auto loans make financing your next vehicle simple, transparent, and straightforward. Whether you're eyeing a brand-new sedan, a rugged SUV, or a dependable used car, we offer tailored solutions to fit your budget and lifestyle.

Required Documents for Your Car Loan:-

For Salaried Individuals:

•KYC:-

»Aadhaar Card

»PAN Card

»Driving License

»Passport size photographs of the applicant(s)

•Address Proof:Aadhaar Card,or Utility Bills (Electricity, Water, Gas - not older than 2 months) or Passport or Registered Rent Agreement (if applicable)

•Income Proof:

»Last 3 months' Salary Slips

»Latest Form 16 and ITR (Income Tax Return) for the last 2 years

»Bank Account Statements (salary account) for the last 6 months

•Employment Proof:Appointment Letter / Offer Letter (if current employment is less than 1 year) / Employer's ID Card (copy).

•Vehicle Quotation/Proforma Invoice: From the car dealership.

For Self Employed or Professional:

•KYC:- Same as above Listed

•Address Proof: Same As above listed

•Income Proof:-

»Audited Financials (Balance Sheet and P&L Account) for the last 2 years

»Latest ITR for the last 2 years

»Bank Account Statements (main operational account) for the last 12 months

•Business Proof:Business Registration Certificate(GST Registration, MSME UDYAM certificate,etc)

»Memorandum and Articles of Association (for Companies)

»Partnership Deed (for Partnership Firms)

Type of Auto-Loan

Find a variety of car loans tailored to different needs and circumstances.Here are the main types:

1• New Car Loan:To purchase a brand-new car directly from the showroom.

»Features:

»»Generally offers lower interest rates compared to used car loans.

»»Longer loan tenures (typically 1 to 7 years, some up to 8 years).

»»Higher loan-to-value (LTV) ratio, often covering 85-100% of the on-road price.

»»Easier eligibility criteria and minimal documentation.

2• Used Car Loan (Pre-owned Car Loan):To finance the purchase of a pre-owned or second-hand car.

»Features:

»»Typically has slightly higher interest rates than new car loans due to the higher perceived risk and depreciation of older vehicles.

»»Shorter loan tenures (generally 1 to 5 years, though some lenders might offer up to 7 years).

»»Lenders usually finance a lower percentage of the car's value (e.g., up to 75-90% of the car's valuation), depending on the car's age and condition.

»»The car's age is a crucial factor, with most lenders financing cars less than 5 years old, and usually not more than 10 years old at the time of loan maturity.

3• Loan Against Car (Refinance/Top-up Loan): To avail funds by pledging your existing car as collateral. This is useful if you need cash for other purposes.

»Features:

»»It's a secured loan, so interest rates can be more attractive than unsecured personal loans.

»»The loan amount depends on the market value of your car.

»»Some banks offer up to 100% of the car's valuation or a maximum amount (e.g., up to ₹10 lakh).

»»Loan tenures are generally shorter (e.g., 1 to 3 years).

»»This can also be used for car loan refinancing or balance transfer, where you switch your existing car loan to a new lender offering better interest rates or terms. Some lenders also offer a "top-up" option on your existing car loan.