EMI Calculator

Interest Type

Loan Amount

Interest Rate

%

Loan Tenure

Mo
Loan Amount100,000
Interest %8 %
Tenure (months)12
Emi (monthly)8,699
Total Interest4,386
Loan Amount + Interest104,386
YearTotal Principal
( A )
Total Interest
( B )
Balance
( A + B)
Total Payment Loan Paid Till Date (%)
40,7012,79443,49559,29940.70 %
Aug8,0326678,69991,9688.03 %
Sep8,0866138,69983,88216.12 %
Oct8,1405598,69975,74224.26 %
Nov8,1945058,69967,54832.45 %
Dec8,2494508,69959,29940.70 %
59,3011,59260,8930100.00 %
Jan8,3043958,69950,99549.00 %
Feb8,3593408,69942,63657.36 %
Mar8,4152848,69934,22165.78 %
Apr8,4712288,69925,75074.25 %
May8,5271728,69917,22382.78 %
Jun8,5841158,6998,63991.36 %
Jul8,641588,6990100.00 %
01
Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

02
Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

03
Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

04
Enjoy Your Financial Freedom!

Once your application is approved based on your eligibility, the amount will be disbursed to your account shortly.

Drive Away in Style with a New Car Loan.

Advantages of Getting a New Car Loan from ReferLoan

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.

  • Minimal Documentation
  • Rapid Procedure
  • Instant Approval
  • Determined Loan Tenure
  • Low-Interest Rates
  • Wide Range of Lenders
  • No Collateral Required*
  • Flexible EMIs
The Right Match for Your New Car Dream.

All You Need to Know About ReferLoan New Car Loan

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
Get to Know Your Eligibility for a New Car Loan

Eligibility for a New Car Loan

Age of applicant

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.

Income of applicant

The loan amount is decided by the income of the applicant and the income should not be less than Rs.20,000/- per month

Continuity of Job

At least 1 year of employment with the current employer

CIBIL score

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.

Occupation

The eligibility is different, but the applicant who is salaried employees, self–employed professionals, self–employed nonprofessionals, and private limited companies are applicable.

Keep the Right Documents by Your Side for a Smoother Process

Required Documents for a New Car Loan

PAN Card

Aadhaar Card

Driving Licence

Voter ID

Passport

Registered rent agreement

Current passport size photograph

Salaried income documents

Self Employed person documents


Salaried income documents

  • Last 3 months' salary slip
  • Form 16 of last 2 years
  • Income Tax Return if any of last 2 Years
  • Last 3 months' bank statement if the salary directly credited in the bank account
  • Certificate of employment from current employer

Self Employed person documents

  • Income tax returns of previous 2 years
  • Statement of finances with a proper balance sheet with profit and loss in that sheet
  • Bank statement with continuity of business
  • GST registration evidence of business

Other documentations

  • Cancel cheque or bank passbook front page copy
  • Any recent loan with a proper repayment sheet
Make Your Chance of Getting a Car Loan Approval Brighter.

Factors You Should Keep in Mind Before Applying for a New Car Loan

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.

  • Examine your loan’s needs.
  • Do proper research to get the best rate
  • Examine your credit report
  • Carefully read the fine print on your loan agreement.
  • Assess your repayment ability before deciding on a loan term
  • Select a reasonable interest rate.
  • Examine your EMIs thoroughly
  • Examine the processing costs
  • Depending on your option, choose a fixed or variable interest rate

What is a New Car Loan?

Your way to drive smoothly to your destination without suffering the traffic hassle

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.

Leave Your Question

FREQUENTLY ASKED QUESTIONS

Nearly all small to medium-sized cars, commercial vehicle loans, sports utility vehicles (SUVs), and multi-utility vehicles (MUVs) are covered by auto loans in India.


The majority of lenders in India do not demand guarantors. Yet, you may be required to sign up as a co-applicant and/or guarantor in case your yearly salary does not meet the projected threshold.

Repayment terms typically span one to seven years, or 12 months to 84 months.

 Yes, specific lenders will loan you 100% of the car's on-road price.

 Yes, you have the option of paying off the car loan in full to avoid having to make future interest payments. Almost all banks will, however, permit the prepayment option once your loan term has passed six months.