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Car Loan

What is Car Loan?

Want to bring home your dream car, but don't have enough funds? Now, you don't need to wait for some more months or years to buy your dream car as you can take a car loan to meet your fund requirement. We can make this drive easy for you, apply for a car loan with and become pride owner of your dream car. Carloan is a loan an Individual/Company can avail for purpose of

  • Buying a New Car
  • Buying a Used Car
  • Loan Against your Existing Car
Car loan banks Interest Rates EMI for 1 lakh upto 5 years Processing fee
Axis Bank Ltd 9.25% - 16.50% Rs.2095 - Rs.2458 Rs. 3500 to Rs. 5500
HDFC Bank 9.25% - 11.25% Rs.2087 - Rs.2186 Rs.2825/- to Rs.5150/-
ICICI Bank Ltd 9.35% - 14.74% Rs.2093 - Rs.2365 Rs.2500/- to Rs.5000/-

Personal Loan Eligibility

The personal loan eligibility criteria for salaried employee is as follows.
Minimum age of Applicant : 21 years
Maximum age of Applicant at loan maturity : 60 years
Minimum Net Monthly Income : Rs. 15,000 per month (minimum Rs. 15,000 – Rs. 20,000 in some banks according to their loan eligibility criteria)

Processing Fees and Charges

Normally bankers charge a processing fee of 2% to 3% of the loan amount, which may vary based on credit profile.

If you repay your personal loan earlier than the agreed time frame, also other important part lenders charge with pre-closure or default penalty of about 4% of the pre-closed loan amount.

Minimum of loan seasoning is six month means you cannot foreclose your loan before six month.

Car Loan FAQ

  • What is the loan amount that I can avail?
    An unsecured business loan from Rs. 3 lakhs up to Rs. 50 lakhs may be availed.

  • What is the tenure available with these loans?
    The business loan tenure can range from 12 months to 36 months.

  • Is the interest rate, fixed or floating?
    The interest rate is fixed.

  • What is the mode of repayment?
    You can repay through Post Dated Cheques, Electronic Clearance Service (ECS) or Direct Debit.

  • What do I need to do to avail a business loan?
    To avail the business loan, simply Apply Online or you may call 1800-209-6060. You could also e-mail us at or visit any of our branches.

  • What is the eligibility criteria for a business loan?
    We offer business loans to both professionals and non-professionals, who are self-employed. Among self-employed professionals, we also offer exclusive loans for doctors with special features such as competitive business loan interest rates and quick approval. The customer segment covered under Business Loans is listed below:
    > Sole Proprietorship
    > Partnership Firm
    > Private Limited Companies
    > Closely held Public Limited Companies
    > Societies
    > Trusts
    > Hospitals, Nursing Homes, Diagnostic Centers, Pathological Labs

Required Documents

  • For Salaried Customers

    • One valid Identity proof
    • Latest six months Bank statements
    • Latest Residence proof
    • Latest three month Salary slip
    • If required guarantors & their same set of documents
  • For Self Employed Customers

    • Three years ITR if more than 5 yrs in same business
    • Profit & Loss Account , Balance Sheets & Audit report
    • If company is Pvt ltd then MOA
    • KYC of individual / company
    • Six month bank statement

We Are Here To Help You

Happy to help you

At Nivesham India, We create solution to make a smile on our customer’s Face, and manage all your Finance as a friend.

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