Car Refinance - Avail Upto 200% top-up loan of your existing car value.
 

Car Refinance - Upto 200% top-up loan of car value.

Get a top-up loan against your car to Use it for Business Expansion, Paying off Debts, Personal Expenses or Working Capital Needs. Car Refinance - Upto 200% top-up loan of car value. Used Car loans made as simple as deciding the model. Turn your dreams into reality. Own that new car you have always desired, with a little help from us. We offer loans up to 80% of ‘on-road’ cost on select models, and up to 90% of the ex-showroom price on others. Our interest rates would pleasantly surprise you. What’s more, you can take up to 6 years to repay the loan. Worried about paperwork? Relax. The process for getting a loan involves only a few simple steps and we will tailor-make the loan to suit your needs.Our Car Loan offers a convenient car buying experience with faster approval and doorstep service. We offer Car Loans for the entire range of private cars and multi-utility vehicles. Drive home in your dream car with Car Loan, one of the leading car finance providers in India.

CAR LOAN RATE OF INTEREST
( Last edited on : 18 Aug 2017 )

Bank
Interest Rates Apply
ICICI BANK 8.50% P.A. Apply
HDFC BANK 8.50% P.A. Apply
Kotak Mahindra 8.50% P.A. Apply
SBI 8.50% P.A.
Apply
Magma Fincorp 8.75% P.A. Apply

 

 

 

 

 

Features & Benefits

  • Quick and Easy processing, Very simple and Hassle-free documentation.
  • Transparency: No hidden charges.
  • Flexible repayment option: 12 to 60 month scheme with structuring based on customer need.
  • Fast track Loan:  processing within 48 hours.
  • Attractive interest rates.

Salaried Individuals:
You should be employed for a minimum of 2 years
Your minimum net salary should be Rs 1.5 lakhs per annum
Your net monthly take-home salary should be at least 2 times of the total monthly installment including proposed and rent paid
Your loan to income ratio to be max 2 times.
You should be within 23 - 60 years of age(or retirement age whichever is lesser- at the end of loan period
You should be residing at the current address for a minimum of one year and in the city for 3 years
You should have a landline or postpaid connection.
Professional / Partner / Proprietor/Director:
You should be in business for a minimum of 3 years.

    • Your minimum gross income should be Rs.1.5 lakhs per annum
    • Your loan to income ratio to be max 2 times.
    • Your Income to Annual emi of proposed loan to be minimum 2 times
    • You should be self employed within 27- 65 years of age.
    • Your current place of residence should be occupied for a minimum of one year and in the city for 3 years

    You should have a landline or postpaid connectio
    Co-borrower:

    The salary slips from the latest 2 months

    You should provide a co-borrower who resides in the same city.

    Co-borrower to give ID proof, Signature verification, Residence proof.

    If necessary, Co-borrower may need to give income documents also
    Documentations.
    Salaried individual:

    • The salary slips from the latest 2 months.
    • Form 16 for latest year
    • 6 months Bank statements of your salary credit account
    • Proof of residence.
    • A signature verification from a bank or a valid driving license/Passport copy/Pan card copy and bank statements for the last six months.
    • Proof of two years of employment.
    • Your photograph.
    • Identity proof
    • Telephone number of your office/residence and postpaid or residence landline bill copy.
      Self-employed / Proprietor:
    • The balance sheet and profit and loss account attested by a CA for the last 2 years
    • Copies of Income Tax return and computation of income tax for the last 2 years.
    • 6 months Bank statements of the main operative account
    • Signature verification from a bank/driving license/passport copy/pan card copy and bank statements for  the last six months.
    • Identity proof
    • Proof of residence.
    • telephone number of your office/residence along with postpaid/landline bill copy latest.

    Partner in a Firm:

    • ITR, computation of income, Balance sheet and profit and loss account attested by a CA for the last 2 years.
    • Bank statements for last 6 months
    • Partnership deed copy.
    • Letter of authority/consent letter from all partners to execute the agreement.
    • Proof of residence, signature verification(Any one of above as indicated
    • Identity proof
              • Telephone bill copy

    Director in a company:
    IT returns, Balance sheet and profit and loss account attested by CA for the last 2 years for the company

          • Bank statements for last 6 months
          • Individual IT returns in case car is to be in individual name
          • MOA/AOA of the company
          • Board Resolution (In case the company is part of the agreement)
          • Proof of residence, signature verification(Any one of above as indicated)
          • Telephone bill copy.
            Other Terms
    • Two references to be provided for both borrower and co-borrower.
    • Minimum Loan amount: Rs 1 lakh for new cars and Rs 50k for used cars.
    • Minimum Tenor: 1 year, Max tenor: 5 years** for new cars and 3 years for used cars.
    • Loan to Value (%) Up to 85% for new cars and up to 75% for Used Cars (Varies according to models).
    • No of present owners in Used Cars: Maximum 3.
    • Age of Used Car at the end of loan period: Maximum 8 years(Varies according to models)


OUR PREFFERED HOME LOAN BANK & NBFC PARTNERS: