Vehicle Loan
New, used and refinance options for cars and commercial vehicles.
Drive away sooner with competitive vehicle financing for new and pre-owned cars, two-wheelers and commercial vehicles — plus refinance and top-up options.
Interest rates and terms are indicative and subject to lender approval.
Vehicle Loan
Key features
- Up to 100% on-road funding*
- New, used & refinance
- Tenure up to 8 years
- Quick approvals
Eligibility
- Salaried or self-employed
- Stable income
- Valid driving requirements
Documents
- KYC documents
- Income proof
- Bank statements
- Vehicle quotation / RC
In depth
Understanding Vehicle Loan
A secured loan specifically designed for the purchase of new or used personal cars and commercial vehicles.
- The Mechanism
- Loan Amount = On-Road Price of Vehicle - Down Payment. The vehicle is hypothecated to the lender.
- Key Components
- Hypothecation, On-road price, and Repayment tenure.
- What the Results Mean
- Allows the immediate purchase of mobility or logistics assets.
- Smart management
- For commercial vehicles, ensure the freight income generated by the vehicle easily covers the EMI and maintenance.
Regulatory source
Falls under RBI guidelines for retail loans and asset-backed financing.