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About Car Loan

In case you’re thinking to buy a car, finding appropriate auto loan is very important. It helps in maintaining your cash flow as 80-90% of the on road price of the car is funded by the bank/NBFC. It’s called secured loan as the car is hypothecated by the bank/NBFC. Its very useful for the self-employed, as the interest in this loan is considered as expenditure and depreciation is also considered in the profit and loss account.

Auto loan is provided to both salaried and self-employed individual as well as to a company. In order to avail this loan, the applicant has to furnish income proof as well as existing EMIs being served by the applicant. The two factors which determine choosing the bank/NBFC from which loan has to be taken are, car loan rate of interest and amount of loan being provided. Sometimes loan money is required very fast, in such case time taken in release of the loan amount also plays a crucial part.

All these deciding factors vary across different banks/NBFCs. However, we help in finding a bank/NBFC which provides auto loan matching your need and conditions.

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Get financing for whatever you need now

Achieve all your goals and aspirations; with the right kind of help, exactly when you need it.

New Home

New Home Loan at basic interest rates from Borrow-Loan Company. You can apply online and check your eligibility and easy EMI. Fast Approval for your new home loan.

Home Conversion

A home conversion loan is a scheme for those who have already taken a housing loan. This loan follow some rules and regulations.It is a part of loan.

Land Purchase

Borrow Loan offers home loan for land purchase to make your dream home. You can compare home loan rates with our compare loan table. Apply online for Home Loan.

Home Renovation

Get instant approval for renovation your home. Borrow introduce home improvement loan. It is with basic rate and flexible EMI repayment.For more detail you can check our loan products.

Get financing for whatever you need now

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Documents

Here is a list for your quick reference.

Proof of Identity

  • PAN CARD
  • VOTER’S CARD
  • DRIVING LICENCE
  • EMPLOYEE CARD

Proof of Income

  • LAST 3 MONTHS SALARY SLIPS
  • 2 YEARS FORM 16.
  • 6 MONTHS BANK STATEMENT WITH SALARY CREDIT

Proof of Residence

  • AADHAR CARD
  • LATEST ELECTRICITY BILL / PIPED GAS MONTHLY BILL
  • RATION CARD
  • PROPERTY TAX/WATER BILL

Car Loan - Eligibility

These Car loan eligibility criteria are mentioned below –

  • Self-employed individuals, proprietors, private limited companies & partnership firms working in trading, manufacturing or services.
  • Individuals associated with the current business for a minimum of 3 years (plus a total of 5 years of business experience).
  • Individuals should be at least 22 years of age while applying for the loan & less than 65 years of age at the time of maturity.
  • Enterprises making profits for the past two years.
  • Enterprises with a minimum turnover of INR 10 Lakhs.
  • Enterprises with a Minimal Annual Income (ITR) of INR 2 Lakhs per year.

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Get a Quote

Now apply for a Car Loan online, All you need to do is provide your details below application form.