New Vehicle Loan
Easy Payments
Save Money
Fast Approval
Clear Terms
Features & Benefits
- Features:
- Benefits:
Budget-Friendly Payments: Make easy payments that fit your budget, making your new vehicle purchase stress-free.
Cost Savings: Save money with low-cost financing, ensuring a pocket-friendly deal for your new wheels.
Quick Ownership: Swift approval means you can enjoy the keys to your new vehicle sooner, without delays.
- Eligibility
Age: Typically between 21 to 65 years.
Income: A minimum income criterion to ensure repayment capacity.
Employment Stability: Salaried or self-employed individuals with a stable income source.
Credit Score: A good credit score enhances eligibility for favorable terms.
Collateral: Depending on the loan amount, collateral or a co-signer may be required.
- Documentation
Identity Proof: Aadhar card, passport, or government-issued ID.
Address Proof: Utility bills, rent agreement, or voter ID.
Income Proof: Salaried: Salary slips, Income Tax Returns, Form 16. Self-employed: Business financials.
Employment Proof: Offer letter, employment certificate, or business registration documents.
Vehicle Details: Invoice, registration details, and insurance information.
Bank Statements: Typically for the last 3 to 6 months.
Collateral Documents: If required, details of the vehicle being financed.
- Fees & Charges:
Processing Fee: Charged for processing the new vehicle loan application.
Interest Rates: The cost of borrowing, available as either fixed or floating rates.
Prepayment Charges: Fees incurred for repaying the loan before the agreed-upon tenure.
Late Payment Fees: Imposed for delayed EMI payments.
EMI Bounce Charges: Applicable if EMI payments are not honored.
Foreclosure Charges: Fees associated with closing the new vehicle loan before the agreed-upon tenure.
