Car Loan
Would love to drive away in a new car ? Dreaming of owning a car? Now, the years of waiting and saving are over. A Car Loan will bring that dream of owning a vehicle within your reach. Avail a car loan, or opt for a pre-approved car loan, and get the best interest rates.
Benefits & Features
- Car loans usually have a lower rate of interest.
- It is easier to avail a car loan.
- Since it is a secured loan, an individual with a mediocre credit score is also likely to be eligible for the loan.
- The vehicle itself acts as a security against the loan.
- Maximum loan amount upto 90% of the on-road price of the car.
- Longest Repayment Tenure
Who Can Apply For Car Loan
- Age of the individual must be between 18 years and 75 years
- Minimum net monthly income of Rs. 20,000
- At least 1 year of employment with the current employer
- Must be salaried or self-employed, working for a government establishment or a private company
EMI Calculator
You can use the EMI Calculator to calculate your monthly installments way before you apply for a loan and have a definite estimate of your monthly payments well in advance.
Documentation Required for Car Loan
Following are the documents you would need to submit for all applicants / co-applicants for the loan approval
Salaried individual
| KYC – Applicant & Co-Applicant |
|---|
| Photograph of Applicant & Co-applicants |
| Identity proof of Applicant & Co-applicants |
| Address proof of Applicant & Co-applicants |
| Income Proof of Main Applicant ( PDF Format ) |
| Last 3 months Salary Slips |
| Form 16 with Part A & B |
| Bank Statement of that account in which last 6 salaries credited (updated 8 months statement in PDF format ) |
| Other Documents ( PDF Format ) |
| Current loan SOA if any |
| Ownership Proof if required* |
| Performa Invoice of Car |
Self-employed individual
| Sole Proprietorship | Pvt. Ltd. | Partnership |
|---|---|---|
| KYC - Applicant & Co-Applicants | ||
| Photograph of Applicant & Co-applicants | Photograph of Applicant & Co-applicants | Photograph of Applicant & Co-applicants |
| Identity proof of Applicant & Co-applicants | Pan card of the company | Pan card of the company |
| Address proof of Applicant & Co-applicants | List of directors on shareholding pattern-certified by CA | Partnership Deed |
| Business vintage proof | Business vintage proof | Business vintage proof |
| GST registration | GST registration | GST registration |
| Article of Association and Memorandum of the company | Identity proof of all partners | |
| Identity proof of all directors | Address proof of all partners | |
| Address proof of all directors | ||
| Income Proof - Certified by CA | ||
| Last 3 years Financials - Attested By Proprietor/Director/Partner | ||
| Income Tax Return | Income Tax Return | Income Tax Return |
| Computation of Income | Computation of Income | Computation of Income |
| Balance Sheet | Balance Sheet | Balance Sheet |
| Profit & Loss | Profit & Loss | Profit & Loss |
| Creditors & Debtors | Creditors & Debtors | Creditors & Debtors |
| Complete all Audit Report | All Director's Report | Complete all Audit Report |
|
Complete all Audit Report |
||
| 26 AS | 26 AS | 26 AS |
| GSTR-3B (updated one year)* | GSTR-3B (updated one year)* | GSTR-3B (updated one year)* |
| One year Bank Statement of Saving & Current accounts | One year Bank Statement of current accounts | One year Bank Statement of current accounts |
| (In PDF Format) | (In PDF Format) | (In PDF Format) |
| All Directors | All Partners | |
| Income Tax Return | Income Tax Return | |
| Computation of Income | Computation of Income | |
| 26 AS | 26 AS | |
| One year Bank Statement of Saving accounts | One year Bank Statement of Saving accounts | |
| (In PDF Format) | (In PDF Format) | |
| Other Documents | ||
| Current loan SOA if any | ||
| Ownership Proof * | ||
| Performa Invoice of Car | ||
All documents to be self attested. The above list is indicative in nature and additional documents can be asked for.
For quick apply to send all documents in PDF format to our email info@positiveally.in
Reasons to Avail Home Loan with Posiitive Ally
- Connected with top private and nationalized banks & NBFCs, which helps you to get market’s most attractive & affordable loan.
- Enjoy the hassle-free experience with minimal documentation, doorstep document pick up at your desired location.
- Provide pre-loan & post loan support with advisory services.
- Quick turnaround time and complete secure process.