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| Loan Amount | ₹100,000 |
| Interest % | 8 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,699 |
| Total Interest | ₹ 4,386 |
| Loan Amount + Interest | ₹ 104,386 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 65,779 | ₹ 3,813 | ₹ 69,592 | ₹ 34,221 | 65.78 % | |||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 34,223 | ₹ 573 | ₹ 34,796 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||
In India, there are several banks and NBFCs that provide car loans at attractive interest rates and easy terms. We at ReferLoan are helping people get new car loans with a completely online process and easy disbursal.
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
One of the most important steps. Now you will have to submit all the required documents digitally.
Once your application is approved based on your eligibility, the amount will be disbursed to your account shortly.
You’re here because you want to buy a new car which is a great idea, but thinking about it and buying might affect with the finances. So, you’re here in the right place. No matter which car you want and how much the loan amount everything can be done easily with fastest loan disbursal as well as because we are trusted and linked with more then 100+ financial institutions.
We at ReferLoan are here to help you get a new car loan in the easiest way. Our seamless process and 100% transparency are what attract our customers the most. We at ReferLoan assist you to get a new car loan with an attractive interest rate. We have a plethora of options for you to choose from so that you have ample choices available at your end.
| Car Loan Details | |
|---|---|
| Interest Rate | 7.00% onwards |
| Processing Fees | Depends on Bank |
| Loan Tenure | 1 Year to 8 Year |
| Pre-closure Charges | Varies with Bank |
| Guarantor Requirement | Varies with Bank |
The age of the applicant always plays an important role in the rate of interest as well as the tenure of the Personal Loan and the minimum age should be 18 Years and the maximum age decided is 75 Years.
The loan amount is decided by the income of the applicant and the income should not be less than Rs.20,000/- per month
At least 1 year of employment with the current employer
It was always recommended to have a CIBIL score of 700 and if your CIBIL score is no less than 650 then you’re also eligible for the loan amount.
The eligibility is different, but the applicant who is salaried employees, self–employed professionals, self–employed nonprofessionals, and private limited companies are applicable.
PAN Card
Aadhaar Card
Driving Licence
Voter ID
Passport
Registered rent agreement
Current passport size photograph
Salaried income documents
Self Employed person documents
It is preferable to get a pre-approved loan when you need money to pay for the new car you have had your eye on for a while. You can keep a check on a few factors before applying for a Car Loan to increase your chance of approval.
A car loan, or an auto loan, is a sum of money a borrower obtains from a financial institution to purchase a vehicle. It's usually secured through a lien against the vehicle being purchased. If a borrower fails to make payments according to the terms of their loan agreement, the lender will repossess the vehicle.
A car loan is a type of secured loan that is used to purchase a vehicle. The loan is typically paid back in monthly installments over a fixed period, with interest charged on the outstanding balance. The vehicle serves as collateral for the loan, which means that the lender can repossess the car if the borrower fails to make payments.
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