Affordable Financing for Your Pre-Owned Vehicle
Our Used Car Loan provides a smart financing solution for your pre-owned vehicle purchase. With attractive interest rates and flexible repayment terms, you can easily manage your budget while enjoying your new car. We offer up to 90% of the on-road price, which includes registration and transfer fees. The loan is designed with daily reducing balance interest, helping you save more as you repay. Experience a seamless process with minimal paperwork and drive away in a certified used car that fits your needs and lifestyle.
- Attractive Interest Rates for Pre-Owned Vehicles
- Flexible Repayment Terms (up to 7 years)
- Financing for Up to 90% of On-Road Price
- Includes Registration and Transfer Fees
- Daily Reducing Balance Interest Calculation
- For Certified Used Cars and Pre-Owned Vehicles
Eligibility Criteria
To qualify for a Used Car Loan, you need to meet specific eligibility requirements to ensure a smooth approval process.
- Age Requirement: Applicants must be between 21 and 65 years old.
- Income Proof: Show stable income from your employment or business.
- Credit History: A good credit score increases your chances of loan approval.
- Vehicle Condition: The used car should be in good condition and not older than a specific number of years.
Other Loan Solutions
Still Confused?
For assistance with your Used Car Loan application, please fill out the form below to connect with one of our advisers.
Documents Required
To process your Used Car Loan application, certain documents are needed to verify your identity, address, and financial status.
Salaried
- Statement of the bank account for last 6 months.
- 2 passport size photographs
- Proof of Identity
- Address Proof
- Income Proof: Latest Salary Slip, Form 16
- I.T. Returns or Form 16 for the last 2 years.
- Proof of Identity: (copy of any one) Passport / PAN Card / Voters ID card / Driving License etc.
- Address Proof: (copy of any one) Ration card / Driving License / Voters ID card / Passport / Telephone Bill / Electricity bill / Life Insurance policy.
Note:
- Form 16/ITR is waived for our Salary Package customers who are maintaining their salary account with the Bank for minimum 12 months.
- Statement of Bank Account (for six months) is waived for our Salary Package customers who are maintaining Salary account with us.
Non-Salaried/Professional/Businessman
- Statement of the bank account for last 6 months.
- 2 passport size photographs
- Proof of Identity
- Address Proof
- Income Proof: ITR for last 2 years
- I.T. Returns or Form 16 for the last 2 years.
- Audited Balance sheet, P&L statement for 2 years, Shop & establishment act certificate / sales tax certificate / SSI registered certificate / copy of partnership.
Process
How to Apply
Step 1
Ensure you meet the eligibility criteria for the loan.
Step 2
Gather all required documents for the loan application.
Step 3
Fill out and submit the loan application form at a branch.
Step 4
Provide documents for verification.
Step 5
Await loan approval and funds disbursement.