Whether you are buying your first car, upgrading to a new one or choosing a pre-owned vehicle, our Private Car Loan is designed around your personal mobility needs. With a simple application process and dedicated assistance, we make financing easier at every step.
Everything you need to begin your Private Car Loan journey starts here.
| Eligibility | Requirement |
|---|---|
| Age | The borrower must be 21–60 years of age |
| Income | The borrower must have a regular source of income and meet the lender's minimum annual income requirement |
| Driving License | A valid driving license is required as per the vehicle category and applicable requirements |
| Vehicle Age | The vehicle must be within the permissible age limit of up to 15 years* |
| Credit Score | A CIBIL score of 650 or above is preferred. We also accept applications from customers with a CIBIL score of (-1) * |
PAN Card, Voter ID Card, Aadhar Card, Driving License, Passport and other valid documents
Electricity Bill, Water Bill, Ration Card and other valid documents
Registration Certificate (RC) and Insurance Policy
Bank statements for the last 6–12 months
GST Registration certificate (if applicable) *
Private Car Loan is available to all types of customers, subject to applicable eligibility criteria.
Yes. Private Car Loan can be availed for the purchase of both new and pre-owned cars, subject to applicable terms and eligibility.
The repayment tenure ranges from 12 to 60 months. For pre-owned vehicles, the applicable tenure may also depend on the vehicle's remaining registration period.
Yes. A valid LMV driving license is mandatory for a Private Vehicle Loan.
A co-applicant or guarantor may be required depending on the applicant's profile and the applicable loan terms. It is not mandatory in every case.
Yes. A comprehensive vehicle insurance policy is required for loans above ₹2 Lakhs. Where the required insurance coverage is not available, the customer will need to obtain the applicable policy.
You will need KYC and address proof along with the applicable vehicle and income-related documents. The required documents may vary based on the applicant and loan profile.
Yes. Private Car Loans can be availed for vehicles purchased through dealers and sub-dealers, subject to applicable eligibility and loan terms.
For pre-owned vehicles, the asset cost is considered based on the valuation report provided by an appointed surveyor.
