Car Loan

Owning a car is not a luxury, but a necessity. ABM Financial Services car Loans aims to ensure that you drive around in your own vehicle. Our Car Loans come with exclusive features like 100% financing of on-road price. Loans are available for new cars as well as used cars and pay the borrowed amount through easy monthly EMIs.

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Features of Car Loan

All loans are not created equal, Car Loan  has become a great option for people to use. Our Car Loans come with exclusive features like 100% financing of on-road price.

Loan Term

We offer Car Loan up to 100% of on road price with loan tenure up to 7 years on new car loan. We offer new car loan, pre-owned car loan and loan against car.

Interest Rate & charges

Attractive Interest Rate starting at 9.25% p.a.  The final rate of Interest will depend upon Loan amount and tenure and type of loan.

Car Loan- Eligibility

Any Indian citizen between the ages of 21 to 65, you can apply for Car Loan. Our Car Loan eligibility criteria is applicable for self-employed individuals, proprietors, private limited companies and partnership firms.

Age

(Min-Max) 21 – 60 years

Income

Annual Income:  Minimum INR 3,00,000 per year

Credit Rating

Yes. A good (high) CIBIL Score and Clean Credit History is very important. All lenders refer to CIBIL score before making a final decision on Medical Equipment Loan. CIBIL Score can be a Deal Maker or a Deal Breaker.

Frequently Ask Questions

The choice is yours. You can choose any repayment option from 12 to 84 months all specially designed to suit your requirements.

You can borrow up to 90% of the invoice value. However, the minimum loan amount is Rs. 1,00,000.

Yes. You can pre-pay the loan any time after 6 months of availing of the loan. You just have to pay a small pre-payment fee on the outstanding loan amount.

We finance most passenger cars and multi-utility vehicles manufactured by India’s leading automobile companies.

You can borrow up to 3 times your annual salary if you are a salaried professional and 6 times your annual income if you are a self-employed professional **.

No, but if your income does not meet our credit criteria then you may be required to have a Gurantor/co-applicant. To stand surety for your loan.

No, but if your income does not meet our credit criteria then you may be required to have a co-applicant.

No, the EMI is fixed for the life of the loan. However, we offer flexible solutions to fit your requirement.

Once we have all your documents with us, it generally takes about 30 Minutes for us to approve your loan request.

Yes. You are eligible for tax benefits on the principal and interest components of your Car Loan under the Income Tax Act, 1961. As the benefits can vary each year, please do check with our Loan Counsellor about the tax benefits that you can avail on your loan.

An EMI is the ‘Equated Monthly Installment’, which is the monthly payment that you make towards repaying your Home Loan on a specified date until your loan is repaid in full.

Documents

Below is the list of documents required for loan process.

Any of the following identity proof documents:

Aadhar Card
Passport
PAN Card
Voters ID Card
Driving License (recent, legible, laminated)
Latest Income Tax Returns (ITR) as income proof
Any of the following documents as address proof:

Aadhar Card
Ration Card
Driving License (recent, legible, laminated)
Voters ID Card
Passport Copy
Telephone Bill
Electricity Bill

Any of the following identity proof documents:

Aadhar Card
Passport
PAN Card
Voters ID Card
Driving License (recent, legible, laminated)
Latest salary slip and Form 16 as income proof
Any of the following documents as address proof:

Aadhar Card
Ration Card
Driving License (recent, legible, laminated)
Voters ID Card
Passport Copy
Telephone Bill
Electricity Bill
Life Insurance Policy
Bank statement of the previous 6 months

All the following documents as income proof:

Audited Balance Sheet
Profit & Loss Account of the previous 2 years
Company ITR for the previous 2 years
Any of the following documents as address proof:

Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
SSI Registered Certificate
Sales Tax Certificate
Bank statement of the previous 6 months

All the following documents as income proof:

Audited Balance Sheet
Profit & Loss Account of the previous 2 years
Company ITR for the previous 2 years
Any of the following documents as address proof:

Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
SSI Registered Certificate
Sales Tax Certificate
Bank statement of the previous 6 months

All the following documents as income proof:

Audited Balance Sheet
Profit & Loss Account of the previous 2 years
Any of the following documents as address proof:

Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
SSI Registered Certificate
Sales Tax Certificate
Bank statement of the previous 6 months

Let us help You With Your Next Loan!