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Auto Loan

An auto loan (or car loan) is money borrowed from a bank or finance company to buy a new or used car. You repay it in monthly installments (EMI) including principal + interest.

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Key Features

Down payment usually 10% to 30%.
Loan coverage can be 80% to 100% of vehicle value.
Interest range often around 7.5% to 9% (profile and lender based).
Tenure generally 3 to 7 years.
Longer tenure → Lower EMI but higher total interest cost.

How It Works

Bank finances most of the vehicle cost.
You pay down payment (usually 10% – 30%).
Remaining amount is paid through EMI over fixed years.
Vehicle is hypothecated (loan linked) to lender until repayment is complete.
You repay through EMIs based on loan amount, interest rate, and tenure.
Auto Loan Interest Rates: Typical range: ~7.5% – 9% depending on bank and profile.
Loan Amount & Tenure: Loan can cover up to 80% – 100% of car value (depends on lender), Tenure usually 3 – 7 years (sometimes longer).

Eligibility Criteria

Age: 21 to 65 years.
Stable salaried or business income.
Credit score: 700+ preferred.
Job or business continuity.

Documents Required

PAN and Aadhaar.
Address proof.
Income proof (salary slip/ITR).
Bank statement.
Vehicle quotation.

Advantages

Buy vehicle without paying full amount
Flexible EMI options
Fast approval

Things To Check Before Applying

❗ Car is security → lender can repossess if EMI unpaid
❗ Processing fee may apply (0.5% –1% approx depending on bank)
❗ Interest higher for used cars vs new cars.

Example

Car Price = ₹10 Lakh
Down Payment = ₹2 Lakh
Loan = ₹8 Lakh
→ EMI depends on interest rate + tenure.

Our Services

Auto Loan

An auto loan (or car loan) is money borrowed from a bank or finance company to buy a new or used car. You repay it in monthly installments (EMI) including principal + interest.

Back to Services

Key Features

Down payment usually 10% to 30%.
Loan coverage can be 80% to 100% of vehicle value.
Interest range often around 7.5% to 9% (profile and lender based).
Tenure generally 3 to 7 years.
Longer tenure → Lower EMI but higher total interest cost.

How It Works

Bank finances most of the vehicle cost.
You pay down payment (usually 10% – 30%).
Remaining amount is paid through EMI over fixed years.
Vehicle is hypothecated (loan linked) to lender until repayment is complete.
You repay through EMIs based on loan amount, interest rate, and tenure.
Auto Loan Interest Rates: Typical range: ~7.5% – 9% depending on bank and profile.
Loan Amount & Tenure: Loan can cover up to 80% – 100% of car value (depends on lender), Tenure usually 3 – 7 years (sometimes longer).

Eligibility Criteria

Age: 21 to 65 years.
Stable salaried or business income.
Credit score: 700+ preferred.
Job or business continuity.

Documents Required

PAN and Aadhaar.
Address proof.
Income proof (salary slip/ITR).
Bank statement.
Vehicle quotation.

Advantages

Buy vehicle without paying full amount
Flexible EMI options
Fast approval

Things To Check Before Applying

❗ Car is security → lender can repossess if EMI unpaid
❗ Processing fee may apply (0.5% –1% approx depending on bank)
❗ Interest higher for used cars vs new cars.

Example

Car Price = ₹10 Lakh
Down Payment = ₹2 Lakh
Loan = ₹8 Lakh
→ EMI depends on interest rate + tenure.