Cheapest Loan Against Car

Car Loan @ 8.10%*

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Why Magicloans Car Loan


  • Know your Car loan eligibility in 1 minute, available online and across all branches.
  • Highly competitive interest rates for Car loans.
  • Special offers, interest rates.
  • Special Car loan offers*


  • Simple documentation
  • Competitive pricing starting from 10% to 11%
  • Car loan disbursal in just 2 days*
  • Transparent procedure
  • Car loans available for all Car Models

Loan against car Documents

Car Loan Documents

Simple and easy documentation Car loans (though documentation varies from individual to individual). The document requirement is based on your profession, income and loan requirement.

  • Proof of identity: Copy of passport/voter ID card/driving license
  • Last 3 months bank statement/6 months bank passbook
  • Latest salary slip/ current dated salary certificate with the latest Form 16
  • Proof of address: Copy of ration card/telephone or electricity bill/rental agreement/passport
  • Car Documents


Loan Against Car Eligibility

Car Loan Eligibility Criteria

Regular Income Group: This category includes salaried doctors, CAs, employees of private limited companies, employees from public sector undertakings including central, state and local bodies.

Eligibility Criteria:

  • Age:       21-60 years.
  • Employment:       Have had a job for at least 2 years, and a minimum of 1 year with your current employer
  • Earning: Minimum income:  Rs. 12,000/- per month net income

Rs. 15,000/- in Mumbai, Delhi, Bangalore, Chennai, Calcutta, Ahmedabad, cochin)

Banks Interest Rates Funding
HDFC 9.45% – 11.25% Upto 100%
Axis 9.85% – 12.00% Upto 100%
ICICI 9.60% – 10.75% Upto 100%

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