The benefits you receive on our loans:-

• Absolutely simple and hassle-free documentation.
• You get quicker access to the money owing to our speedy disbursals at multiple locations.
• You can pay back loans upto a period of 84 months
• The repayment of loans will be tailor-made to suit your requirement – terms and conditions apply.
• The mode of repayment too has been made most convenient for you as we accept payments through cheques and electronically.
• The loans we offer are on “on-road value”, which means that we cover not just the insurance but also the road tax – terms and conditions apply.
• You can avail of up to 85% finance on used cars for any car with age not exceeding 5 years - terms and conditions apply.
• Special’ No income documents program.

Key Product features

Primary Documentation:

All documents satisfying the KYC Norms to be taken on record mentioned here under Signature Verification.

Auto Loan Documentation:

• Loan Application Form duly filled by the applicant.
• Agreement for Loan and other relevant legal documents.

Loan Documentation:

The following is the list of acceptable proofs of documents :

AGE

• Passport Copy
• Photo Driving License with DOB
• Voters ID Card
• PAN Card
• Photo Ration Card With DOB
• School/College Leaving Certificate

ADDRESS:

• Passport Copy
• Photo Driving License with DOB
• Photo Ration Card With DOB
• Electricity Bill
• Telephone Bill
• Credit Card St. With CC Copy
• Bank Statement
• Employer Certificate/ID
• Rent/Lease Agreement

PROPERTY OWNERSHIP

• Electricity Bill
• Water Bill
• Property Registry

IDENTITY

• Passport Copy
• Photo Driving License with DOB
• Voters ID Card
• PAN Card
• Photo Ration Card With DOB
• Govt ID Card

SIGNATURE

• Passport Copy
• Photo Driving License with DOB
• PAN Card
• Banker’s Verification

Q. What do I need in order to obtain a loan?
A. Valid Photo ID Card
Proof of income
Proof of residence

Q : Will I need a large down payment?
A : No, in most circumstances down payment options are available.

Q : Can I qualify for an auto loan despite a bankruptcy or repossession?
A : Yes, you can qualify.

Q : Is there a minimum on job time or time in the area to qualify?
A : No, there are loan programs available for everyone.

Q : How will I be establishing or re-establishing my credit?
A : All lenders report to the major service provider.

Q : Can I get a loan if I am self-employed?
A : Yes.

Q : I have no credit and looking for my first automobile, can you help?
A : Yes, there are many programs designed for the first time buyer. If you have income, and proof of residence our first time buyer specialists will work hard to help you purchase your first automobile.

Q : Do you have programs for poor credit?
A : Yes we do!

Q : Where are your services offered?
A : Nationwide.

Q : Who can avail Car Loans?
A : Salaried Individuals, Self Employed Professionals, Self Employed Businessmen, Proprietorships , Partnership Firms, HUFs, Trusts, Private and Public Limited Companies.

Q : Can be the co-applicants for the loan?
A : For salaried / Self employed / Sole Proprietorship : Family member
For Partnership Firms : Any one Partner
For HUFs : Karta
For Trusts : Any one Trustee
For Private / Public Ltd. Companies : Any one Director

Q : Do I need a guarantor?
A : Generally not required. But if your income does not meet our credit criteria, then you may be required to have a guarantor to stand surety for your loan.

Q : What are the loan tenure options?
A : 12 months to 84 months

Q : How much finance can I avail of?
A : The minimum loan amount is Rs.50000 and a maximum would be 90% of the on road value.

Q : How is the interest charged/calculated?
A : Interest is calculated on a monthly reducing balance basis.

Q : What is a Monthly Reducing Balance?
A : In the case of monthly reducing balance method, the principal gets reduced at the end of every month and the interest is calculated on the outstanding principal at the end of the month.

Q : Do I have to pay any additional charges?
A : We charge a processing fee as per policy.

Q : Can I use the Car for Commercial Usage?
A : Yes.

Q : How long will it take to process the loan?
A : Within 10-15 days from the date of completion of documentation. However if we receive all relevant papers earlier, the process can be done faster.

Q : What security/collateral do I have to provide?
A : Asset financed will be hypothecated / lien marked in favour of Bank.

Q : Do you offer an Insurance Facility for the Car Loans?
A : Yes. The Insurance facility is provided through a tie –up with Insurance Company

Q : How do I repay the loan?
A : EMI’s in the form of PDC’s ( Post Dated Cheques ) and through Electronic Clearing Service (ECS).

Q : Is the EMI charged as Advance EMI or Arrears EMI?
A : Both the options are available suiting to your needs

Q : Do I have the option of pre-paying the entire loan amount?
A : Yes. One can pre-pay the loan any time after 6 months of availing of the loan. One merely has to pay a small prepayment fee on the outstanding loan amount.

Q : If I am not able to furnish my income documents is there a special scheme for persons like me?
A : Yes.