The eligibility or qualification criteria for a car loan differs from one lender to the other according to the borrower’s profile.
|Age||Minimum Age: 18 yrs.
Maximum Age: 75 yrs.
|Salary||Rs.10,000 per month (minimum)|
|Salaried or Self-employed individual/ partnership
3 yrs. (minimum) total experience/yrs. in business/profession;2 yrs. (minimum) in current post/business/profession
|Type of Car||New or used|
1 yr. (minimum) stay at current residence
Car loan is availed when buying a car for personal or commercial use. The lump sum amount borrowed is repaid in easy instalments.