Car Loan

First Asked Questions

Q. What are the eligibility criteria for availing Car loan?

A. A person in the age group of 21 to 60 years which includes salaried doctors, CAs, employees of private limited companies or government etc, having employment for at least 2 years and a minimum of 1 year with the current employer can avail car loan facility. The loan will be provided on 85% value of Ex-Showroom of car incase of Self employed and 90% value of Ex-Showroom for Salaried individuals.

Q. What is the minimum and maximum tenure for repayment of car loan?

A. The tenure ranges from 36 months to 60 months

Q. How many days will be required for disbursement of loan?

A. From the day of submitting your complete documents to our executive to loan disbursement by bank, it will take around 3 to 4 days.

Q. Is there an option of prepayment of car loan?

A. Yes you can prepay your car loan with charges applicable which varies across the banks.

Q. From which month my EMI will be start deducting from my account?

A. The EMI will start from the next month of loan disbursal. For example, if your loan gets disbursed on 1st May, then your EMI will start from 1st June.

Q. What are the documents required in order to apply for a car loan?

 Last 4 Months Salary Slip (For Salaried)
 Last 3 Years ITR with computation of Income (For Self Employed)
 Last 6 Months Bank statement
 Form-16 (For Salaried)
 Pan Card
 Aadhaar card
 Address Proof
 Permanent Address Proof (For Rented)