Car Loan availability and eligibility criteria
- Car loans are available for an amount up to 100% of the market value of the car,
- Car loans are available for a repayment time from 3 years to 5 years.
- Car loan can be obtained by any public servant, government employee, self-employed person, or businessman.
- To obtain a car loan in India the person should be an Indian national only.
Eligibility Criteria: –
- Age of applicant should not be less than 21 years.
- Age of applicant at loan maturity should not be more than 60 years.
- Net Monthly Income should be at least Rs. 1, 50,000 per year.
- Income should be proved stable.
- If your spouse is an earning hand, you can make him/her co-applicant. This will increase your eligibility.