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 Interest Rates:
( Last edited on : 18 Aug 2020 )

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)