Car Loan EMI and Interest Rates
Car Loan
Drive home your dream car with Quick, Easy and Hassle-free Car Loan
Turning your dream into reality is now easy. Own your favorite car that you have always dreamt with attractive features of a Car Loan. We offer car loans for New Car, Pre-Owned car and even a loan against a car.
Features
- Loan up to 100% of ex-showroom price
- Loan tenure up to 7 years
- Pre-Qualified Car Loans for existing customers
- Attractive rate of interest
- Easy documentation
Benefits
- Flexible repayment options
- Tailor made schemes
- Fast, Reliable and Personalised Service
- Attractive deals from associated car dealers
- Insurance cover for Loan Liability available, repayable along with EMI
- Zero Pre-payment charges under ‘MultiAdvantage Car Loans’ product
Convenient and Fast
Get a car loan with minimum documentation. Loan Disbursement within 72 hours* of document submission.
Car Loan Eligibility
Eligibility Criteria
Loan Amount
The minimum loan amount for taking a car loan is Rs. 1,00,000. The maximum loan amount will depend upon the price of the car, model variant, profile of the customer, etc.
New Car
- Loan up to 100% of the ex-showroom price of the car.
Pre-owned Car
- Loan up to 80% of the valuation of the car with a maximum tenure of 60 months* (can go further depending on profile)
- Hassle-free processing
Eligibility
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Particulars
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Salarield Individual
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Self-Employed Individual
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Partnership Firm
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Private / Public Ltd Co
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Age Criteria* |
The applicant should be above 25 years old at the time of application, and upto 58 years of age at the time of maturity of the loan. |
Any proprietor, partner, professional or director above 28 years but below 65 years at the time of the loan maturity. |
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Limited companies should have been in existence for at least 3 years./p> |
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Income Criteria* |
Gross annual income of at least Rs. 2.50 lakh |
Gross annual income of at least Rs. 2.00 lakh |
Firm should have a minimum PAT (profit after tax) of Rs. 2.00 lakh Business income as per ITR or Profit as per P/L. |
Minimum PAT (profit after tax) of Rs. 2.00 lakh Business income as per ITR or Profit as per P/L. |
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Stability |
The total employment stability should be more than 2 years and current employment stability of minimum 1 year. |
Current business stability should be 2 years or total more than 3 years. |
Current business stability should be 2 years or total more than 3 years. |
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Car Loan Documents
Documents Required
We offer the most convenient, flexible & quick car loan at the click of a mouse. Keeping your convenience in mind, we ask you for minimal mandatory documents for the sanctioning of your car loan.
Income Proof
- Self-Employed individuals: Income Tax Returns of 2 previous financial years.
- Partnership Firms, Societies & Companies: Income Tax returns of 2 previous financial years along with complete financial/audit report.
- Documents supporting customer information: Identity Proof, Signature Proof, Recent passport size color photograph and Address Proof as per Bank norms (Dialabank representative will help you choose suitable documents).
- Business/employment stability proof
- Ownership proof required if self-employed individuals
- Bank statements
Other documents
- Partnership Firms: Partnership deed and Letter signed by all partners authorizing one partner to execute the required Car Loans documentation.
- Societies and Companies: Resolution by Board of Directors (or such managing body) & Memorandum & Articles of Association (or Society/Trust deed).
Our representative will help you with the formats of documents and the information required.
Why magicloans.in
Why we are suggesting applying for the Car Loan by using magicloans.in over other sites. magicloans.in know the value of your precious time. You will get so many perks if you apply by using this site. Here are some of them are given
• If you apply for the Car Loan from magicloans.in you will get so many benefits.
• You just have to fill the Car Loan form and you will get a call from our side automatically.
• Besides that, you may get some more concessions on the interest rates.
• Therefore there is no need to go to the bank.
• Even more, documents pick up facility from your doorstep is available.
• You don’t need to go here and there to ask for interest rate or to get to know about EMI ’s. All you need is to apply on magicloans.in and you will get back a call back within a few minutes with all the information. So car Loan is only one step away from you.
