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Used Car Loan EMI Calculator
Plan your pre-owned car instalments wisely.
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Eligibility criteria and documents required for a used car loan
A few simple criteria must be met to qualify for our used car loan. You will also need a few documents to complete your application.
Eligibility criteria
- Nationality: Indian
- Age: 18 to 80*
- CIBIL Score: 720 or higher
- Employment:
- For salaried: Individuals should have at least 1 year of experience and a minimum monthly salary of Rs. 20,000.
- For self-employed: Applicant must submit an ITR proof of the last 2 years.
*Age should be 80 or less at the end of the loan tenure.
Documents required
- KYC documents - Aadhaar/ passport/ voter’s ID / NREGA Job Card / Letter issued by National Population Register
- PAN card
- Employee ID card
- Salary slips for the last 3 months
- Bank account statements for the previous 3 months
- Vehicle registration certificate and insurance copy
Note:
- The loan is available only for private cars.
- The car should not be more than 12 years old, at the end of the tenure.
- The car should not have more than 2 previous owners.
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