Car Loans FAQs

All types of passenger cars are covered under this segment.

Loan Value is calculated on the ex-showroom price of the car

Upto 95% of the ex-showroom price is funded

Car loans are available for salaried, self-employed individuals, propreitorships, partnerships, HUF, Limited liability partnerships, trusts, societies, and companies.

Minimum age for availing a car loan is 21 years and maximum age is 65 years (conditions apply).

The maximum tenor is 7 years for a new car, and 5 yr term for a pre-owned car.

The co-applicant can be the applicant’s spouse, parents or even children of the applicant.

No additional security need not be provided, apart from the car against which the loan is granted.

For Self Employed Individuals :

A net annual business income of Rs.1.8 lakhsp.a. – Rs.2 lakhs.

For Self Employed Non-Individuals :

A minimum business income of Rs.1.8 lakhsp.a. – Rs.2 lakhs

For Self Employed Individuals :

As per latest ITR.

For Self Employed Non-Individuals :

As per 2 year ITR and audited financials for last 2 years.

For Self Employed Individuals / Non-Individuals :

Minimum 3 years in same line of business