Features and Benefits
Fund your car purchase in a smart, quick and hassle-free way with Car Finance from us.
- High-value Car Finance With us, get an asset-based loan up to 90% of the car valuation, at an attractive rate of interest. Repay the loan in easy EMIs across 12 to 60 months.
- Doorstep facility Get doorstep assistance on the entire processing- right from document pickup to all the way to RC – with Car Finance with us. This makes the process convenient and hassle-free for you.
- Instant approval You get to enjoy same-day approval on your loan application. In addition to this customers get special pre-approved offers on Car Finance.
How Car Finance Works?
- Identify the car you want to buy
- Apply for the loan and get an instant approval (New customers can get the approval in 24 hours)
- Get your documents picked up right from your doorstep, at a time that suits you
- Dealer receives the money for your car in 48 hours
- Get driving in your new car
Eligibility Criteria
Easy-to-meet eligibility criteria for a Car Loan from us, makes it simple for you to finance your dream car.
- Salaried individuals should have an age between 21 to 60 years
- Self-employed individuals should have an age between 25 years to 60 years
- Salaried individuals should have at least 1 year of work experience and a minimum salary of Rs. 23,000/- per month
- The loan is applicable only for private cars
Documents Needed
Car Finance from us requires only minimal documentation.
- KYC documents
- Bank statements of the last 3 months
- Income proof: Salaried individuals – Salary slips of the last 3 months
- Self-employed individuals – Income Tax Returns of the last 2 years
Fees & Charges
| Types of Fees | Charges Applicable |
|---|---|
| Processing fee | Upto 4%(Inclusive of taxes) |
| Stamp duty | at actuals |
| Documentation charges | Rs. 885(Inclusive of taxes) |
| Loan re-booking | Rs. 1000 + Applicable taxes |
| Loan cancellation charges | Rs. 1000 + Applicable taxes |
| Bouncing charges | Rs. 1000(Inclusive of taxes) |
| Penal Interest | 2% per month |
| Legal, repossesion and incidental charges | at actuals |
| NDC for interstate transfer | Rs. 1000 Plus applicable taxes |
| NDC to convert from private to commercial | Rs. 3000 Plus applicable taxes |
| Foreclosure charges | 4% + applicable taxes |
| Part payment charges | 4% + applicable taxes |
| Duplicate NDC | Rs. 500(Inclusive of taxes) |
| Mandate Rejection Charge | Rs. 450/- (Inclusive of taxes) will be applicable if new mandate form is not registered within 30 days from the date of rejection of previous mandate form by Customer’s Bank for any reasons whatsoever. |
