HOW TO GET A CAR LOAN

Check which category you fit into first. Depending on the kind of work you do, our requirements to give you a loan will be different. 

Are you a salaried employee?

This category includes salaried doctors, CAs, employees of select public and private limited companies, government sector employees such as public sector undertakings and central, state and local bodies.
You should:
Minimum age for Salaried is 21 years (at time of loan application) and <=60 (at the end of the loan tenure)
Have had a job for at least 2 years, and a minimum of 1 year with your current employer
Earn at least an income of Rs. 1,00,000 annually, including the income of your spouse
Have a telephone at your residence
Documents you will need to submit:
Proof of Identity: Passport copy, PAN Card, Voters Id card, driving licence( Laminated, Recent, Legible)

Income Proof: Latest salary slip with form 16.
Address Proof: Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card.
Bank Statement:Last 6 months
Are you a self employed individual (Sole Proprietorship)?
This category includes self-employed sole proprietors in the business of manufacturing, trading or services.
You should:
Minimum age for Self Employed is 25 years (at the time of loan application) and <=65 (at the end of the loan tenure)
Be in business for at least 3years
Earn at least Rs. 60,000 per annum if you are looking to buy a standard car and at least Rs. 1,00,000 per annum for mid-sized and premium cars.
Have a telephone at your residence
Documents you will need to submit:
Proof of Identity: Passport copy, PAN Card, Voters Id car, driving licence( Laminated, Recent, Legible)
Income Proof: Latest ITR
Address Proof: Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card
Bank Statement:Last 6 months
Are you self employed (Partnership Firms)?
This category includes self-employed partners in the business of manufacturing, trading or services.
You should:
Earn at least Rs. 60,000 per annum if you are looking to buy a standard car and at least Rs. 1,00,000 per annum for mid-sized and premium cars
Have a minimum turnover of Rs. 4,50,000 per annum
Have a landline at your office and residence.
Documents you will need to submit:
Proof of Identity: NA
Income Proof: Audited balance sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company
Address Proof: Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
Bank Statement:Last 6 months
Are you self employed (Private Limited Companies)?
If you own a private company in the business of manufacturing, trading or services, this is for you.
You should:
Earn at least Rs. 60,000 per annum if you are looking to buy a standard car and at least Rs. 1,00,000 per annum for mid-sized and premium cars
Have a minimum turnover of Rs. 4,50,000 per annum
Have a landline at office
Documents you will need to submit:
Proof of Identity: NA
Income Proof: Audited balance sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company
Address Proof: Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
Bank Statement:Last 6 months
Are you self employed (Public Limited Companies)?
If you are a director in a public limited company in the business of manufacturing, trading or services, this is for you.
You should:
Earn at least Rs. 60,000 per annum if you are looking to buy a standard car and at least Rs. 1,00,000 per annum for mid-sized and premium cars
Have a minimum turnover of Rs. 4,50,000 per annum
Have a landline at office
Documents you will need to submit:
Proof of Identity: NA
Income Proof: Audited balance sheet, Profit & Loss Account for latest two years
Address Proof: Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
Bank Statement:Last 6 months