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You are here: Personal Banking > Loans > New Car Loans > Eligibility & Documentation         Hindi Version         Marathi Version

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New Car Loans
Eligibility & Documentation
Salaried Individuals
Self Employed
Partnership Firms
Private Limited Company
Public Limited Company




Salaried Individuals

Eligibility Criteria:
  • Minimum age of Applicant: 21 years
  • Maximum age of Applicant at loan maturity: 58 years
  • Minimum employment: 1 year in current employment and minimum 2 years of employment
  • Minimum Annual Income: Rs 100000 net annual income
  • Telephone: Must at residence
Documents required:
  • Proof of Identity:- Passport copy, PAN Card, Voters Id car, 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:- Not mandatory
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Self Employed

Eligibility Criteria:
  • Minimum age of Applicant: 21 years
  • Maximum age of Applicant at loan maturity: 65 years
  • Minimum employment: Atleast 3 years in business
  • Minimum Annual Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars
  • Telephone: Must at residence
Documents required:
  • 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:- Waived for small cars, for mid - sized and premium cars if income Is greater than Rs. 1.5 lacs then bank statement requirement can be waived.
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Partnership Firms

Eligibility Criteria:
  • Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars
  • Minimum turnover: Turnover Rs. 4.5 lacs
  • Telephone: One phone at least at business and at residence of the loan executing partner
Documents required:
  • 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:- Waived for small cars, for mid - sized and premium cars if income Is greater than Rs 1.5 lacs then bank statement requirement can be waived
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Private Limited Company

Eligibility Criteria:
  • Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p a for mid-sized and premium cars
  • Minimum turnover: Turnover Rs 4.5 lacs
  • Telephone: One phone at least at business premises
Documents required:
  • 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:- NA
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Public Limited Company

Eligibility Criteria:
  • Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p a for mid-sized and premium cars
  • Minimum turnover: Turnover Rs 4.5 lacs
  • Telephone: One phone at least at business premises
Documents required:
  • 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:- NA
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