Car Loan

Bringing home the car you’ve always wanted has never been simpler! For purchase of new passenger cars, Multi Utility Vehicles (MUVs) and SUVs. Before applying, check car loan eligibility and how you can structure your loan repayment using a car loan emi calculator.

Car Loan Eligibility Criteria

Individuals who are either salaried or self-employed, it’s possible to obtain a car loan for almost 100% of the price of the car. The salaried individual needs to have a minimum annual income of Rs 2.5 lac. For the self-employed professionals, the minimum annual income requirements are slightly lower at Rs 2 lac.

Loan EMI Calculator

Loan Amount is 30000
No. of Month is 30
Rate of Interest `{`ROI`}` is 10
Monthly EMI

Total Interest

Payable Amount

Interest Percentage

Car Loan Partners

GoSecure Financial has a large portfolio of partner banks and financial institutions:

  • Axis Bank
  • Bajaj Finserv
  • Cholamandalam
  • Citibank
  • DCB Development Credit Bank
  • Deutsche Bank
  • DHFL
  • Edelweiss
  • Electonica Finance Ltd
  • First Blue
  • Fullerton
  • HDB Financial Services
  • HDFC Ltd
  • HSBC
  • ICICI Bank
  • Indiabulls Financial Services
  • IndusInd Bank
  • ING Vysya Bank
  • Investment Financial Services
  • Karvy Financial Services
  • Kotak Mahindra Bank
  • Magma Finance
  • Money Matters Finance Ltd.
  • Moneyline
  • Reliance Commercial Finance
  • Religare
  • Shriram City
  • Standard Chartered Bank (SCB)
  • Tata Capital

Documents Required for Car Loan

When you apply for the LAP, ensure to keep No Objection Certificate (NOC) and property papers ready. Loan Against Property can be availed by self employed, salaried, partnership firms & private limited companies.

To make your application process simpler, here is a list of documents that you will need:

Salaried

Identity Proof
  • PAN Card (mandatory) and any one of the below documents
  • Voter Card
  • Aadhar Card
  • Valid Passport
  • Driving License
  • Photo Identity card issued by Govt. body
Address Proof  – Any one of the below documents:
  • Any one of the below documents:
  • Voter Card
  • Aadhar Card
  • Valid Passport
  • Latest Utility bill
  • Rent agreement on stamp Paper
  • Bank Statements reflecting address of borrowers of any commercial nationalized bank
  • Life Insurance Policy
  • Residence address Certificate /letter by employer on company letterhead
  • Municipal or property tax receipt
  • Post office saving bank account statement
Proof of Income – (All the documents given below):
  • Last 2 months salary slip
  • Last 6 months bank statement of salaried account
  • Latest Form 16 / ITR
Other Documents
  • Documents related to running loans along with 6 months repayment bank statements

Self Employed

Identity Proof
  • PAN Card (mandatory) and any one of the below documents
  • Voter Card
  • Aadhar Card
  • Valid Passport
  • Driving License
  • Photo Identity card issued by Govt. body
Address Proof  – Any one of the below documents:
  • Any one of the below documents:
  • Voter Card
  • Aadhar Card
  • Valid Passport
  • Latest Utility bill
  • Rent agreement on stamp Paper
  • Bank Statements reflecting address of borrowers of any commercial nationalized bank
  • Life Insurance Policy
  • Residence address Certificate /letter by employer on company letterhead
  • Municipal or property tax receipt
  • Post office saving bank account statement
Address Proof for Business Entities – Any one of the below documents:
  • Shops & Establishment Certificate
  • Trade License Certificate
  • SSI Registration Certificate
  • PAN Card/Sales Tax/ VAT Registration Certificate
  • Partnership Deed (for firms) / Memorandum of Association (MOA) for companies
  • Export-Import Code Certificate/Factory Registration Certificate
  • Professional qualification Certificate and Degree Certificate for Professionals
  • SEBI Registration Certificate
    Registration No issued by ROC
Proof of Income – (All the documents given below):
  • Income Tax Returns along with computation for last 2 financials years
  • Balance Sheet and Profit & Loss account along with all annexures (duly CA certified and audited if applicable)
  • Last six months current account statement of the business entity and saving account statement of individual
Other Documents – All the documents given below:
  • Documents related to running loans along with 6 months repayment bank statements
  • Latest List of share holding pattern (duly CA/CS certified)
  • MOA (for private Limited companies)
  • Partnership deed (for partnership firms)

Frequently Ask Questions

Auto Loans from Rs. 1 lakh onwards. Some of the factors that consider when deciding on a loan amount are:

  • Your requirement and eligibility
  • Your income
  • Your repayment capacity

A flexible tenure ranging from 12 to 60 months.

Auto Loans for most passenger cars, multi-utility vehicles and sports-utility vehicles that are available in India and are bought for personal use.

The repayment of loan is done through Equated Monthly Instalments. It can be paid through Post Dated Cheques (PDC) or Electronic Clearance System (ECS).

The loan against property can be pre-paid along with the pre-payment charges. Usually the bank charges 2% of the principal pre-paid.

Apply for Car Loan

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