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Apply for USED Car Loan
Apply now and get instant approval for USED Car Loan
Used Car Loan
Car Loan is a Secured credit provided by financial institutions based on criteria like employment history, repayment capacity, income level, profession and credit history. Car Loan also known as Auto Loan, A sum of money borrowed from a financial institution or bank to purchase a car. Car loans follow most of the same rules and procedures that apply to other loans.
Features of Used Car Loan-:
| Loan Amount | You Can Avail Loan Amount up to 1.50 Cr as per your income eligibility. 200% In Re-Finance And 85% of Market. |
| Interest Rate | Fixed Interest Rate. Starts at 10.50% onwards. |
| Processing time | Only 3-4 working days Required for Sanction after process your application. |
| Tenure | Up To 7 Years |
| Processing Fee | UP TO 1% or Depend on CASE |
| Part payment | Part payment available. Depends on case |
| Flexible Prepayment | Flexible Prepayment option available in USED Car Loan which makes it attractive. |
Eligibility Criteria for USED Car Loan
| Eligibility Criteria | Eligibility Criteria Details |
| Age | Minimum Age 21 year and Maximum 65 Years at the Time of Loan Maturity |
| Minimum Income | 35000 Net Salary Or 5 Lac Gross Annual Income ( ITR ) |
| Cibil Score | Minimum CIBIL Score of 700 with No Any Default in Past |
| Employment Stability | Minimum 1 year |
| Resident | INDIAN Only |
| Who Can Avail | Salaried Person, Self-Employed Business and Self Employed Professionals |
Documents Required for USED Car Loan:
| Required documents | Required documents for salaried | Required documents for self-employed Business |
| Photo | Passport size photo | Passport size photo |
| Id proof | Pan Card / Aadhar Card / Passport / Voter Id Card / Driving Licence | Pan Card / Aadhar Card / Passport / Voter Id Card / Driving Licence |
| Address proof | Aadhar Card / Passport / Voter Id Card / Driving Licence / Mobile Bill / Telephone Bill / Electricity Bill / Water bill (any one document required for address proof) | Aadhar Card / Passport / Voter Id Card / Driving Licence / Mobile Bill / Telephone Bill / Electricity Bill / Water bill (any one document required for address proof) |
| Income Documents | Latest 3 Months Salary slip & Last year Form-16 | Last 3 year ITR, Computation, Profit & Loss Statement, Balance Sheet, Audit Report (If Audited ), GST if Applicable |
| Bank Statement | Latest 6 Months Bank Statement | Last 12 Months All Current / OD / CC Account Statement |
| Extra Documents | Exiting Loan Statement (ONLY FOR BT / RE-Financing) |
Exiting Loan Statement (ONLY FOR BT / RE-Financing) |
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