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Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
There is a loan for your every need! Know the right one with a single click.
Car Loan

Almost everybody has a dream to own and drive a car of their own. Owing to the ease of availability of car loans today, buying a car is no more a luxury. Car loan makes your journey towards purchasing a new car an easy affair by helping you with the funds necessary to own a car.

Currently, there are multiple lending institutions in the market that provide car loan with various privileges. At Value Money, we suggest and offer you the best suitable options, so that you get the best quote in the market.

Key Features

Below are the key features of Car Loan

  • Car loan enables you to make payment of your car in easy EMIs instead of lumpsum
  • Car finance is secured against the car itself without any need for collateral
  • You can opt for both new car loan and used car loan depending on your requirements
  • Most banks have vehicle loan tenure of 1-7 years to be repaid by borrower in EMIs
  • Auto loan approval and disbursal is quick with easy documentation as compared to other types of loans
  • Lending institutions usually charge an interest rate between 8.75%-15% on car loan
  • Financial institutions generally extend car loan upto 2 crores to borrowers
Car Loan Process

The car loan application process is simple and easy as compared to other type of loans. The steps involved are

  • Get in touch with different lenders and select the lender giving the best interest rate
  • Submit the necessary documents required for processing your car loan
  • On successful verification of documents and field investigation if necessary, the loan is approved and the amount is disbursed
Eligibility & Documentation

Anyone can buy a car loan if you fulfill basic eligibility criteria. However your loan amount will depend on your repayment capacity

  • Age: 25 years to 65 years
  • Applicant must be a salaried, professional, self-employed, or a business owner
  • Must exhibit minimum required experience (usually 1+years in current job), in case of salaried applicants
  • Business owners must display a min of 2 years in the same business
  • Gross Income: 3 Lakhs per annum for salaried and 2 Lakhs per annum for business owners or professionals (varies for each bank)

An applicant has to submit the following documents for auto loan processing

Identity Proof (Any One)

  1. Aadhaar Card/ e-Aadhaar Card
  2. Passport
  3. Driving License
  4. Voter ID
  5. PAN Card

Age Proof (Any One)

  1. PAN Card
  2. Passport
  3. Certificate from Statutory Authority

Residential Address Proof (Any One)

  1. Telephone Bill
  2. Electricity Bill
  3. Piped Gas Bill
  4. Ration Card
  5. Election Card
  6. Passport
  7. Driving License
  8. Certificate from Statutory Authority

Income Proof

  1. Salary Slips/ Income Certificate

Documents for salaried individuals

  1. Recent 3 months bank statement
  2. Recent 3 months salary slip
  3. 2 year employment continuity document

Documents for self employed professionals

  1. Recent 6 months bank statement
  2. Highest professional degree certificate
  3. Recent Income tax returns along with computation of income
  4. Recent audited balance sheet + profit & loss statements duly certified by CA

Documents for businessmen

  1. Recent 6 months bank statement
  2. Recent Income tax returns along with computation of income
  3. Recent audited balance sheet + profit & loss statements duly certified by CA
  4. Last 6 month's operative a/c statements of both the entity and the individual
  5. Proof of business existence
Interest Rates

Interest rates for car loan depends on various factors like your loan amount, loan tenure and your credit history. Usually vehicle interest rate varies from 10%to 15%.

Preclosure fee: 1% to 2% on the principal outstanding amount

Processing Fee: 0% to 0.5% (varies as per bank)

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List of Personal Loan providers in India

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  • Birmingham
  • Glasgow
  • Bradford
  • Edinburgh
  • Bristol

Personal Loan by City

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