Car Loan Services

Loan On Car – Low interest rate car loans from a wide range of lenders

Loan on Car is the process of replacing your existing car loan with a new one or taking a fresh loan on an existing car. Loan on car can help you save money by securing a higher value on your current asset considering depreciation, convenient loan tenure options along with a competitive rate of interest to best suit the current requirement. As a result, you can decrease your monthly payments and free up cash for other financial obligations..

All in all, a personal loan can offset any temporary financial crisis.

Application processes when applying for a Car Loan - one is manual and the other digital.

The manual process:

Customer walks in
Probing is done
Scheme and IRR are shared
Documents are collected
Lead is generated on the Sales CRM
Case is introduced through MCAS
For pre-approved customers, the case moves directly to the operations tray. For non-pre-approved customers, the case is moved to the credit tray
Credit team approves the case
Post-approval, documents are submitted
The loan is disbursed

What are the eligibility criteria to apply for a Car Loan?

Anybody can apply for a Car Loan provided their age is greater than 18 years. Customers declared as defaulters by the RBI and applications from customers belonging to countries excluded by the OFAC are also not eligible to apply for a Car Loan.

Quick
approval

Easy loan
Repayment

100%
Transparency

Personal Loan Eligibility

Legallogy give full information about loan eligibility like personal loans are provided by most of the banks/NBFCs but with different eligibility requirements. However, there are certain criteria that are common for all financial institutions. The eligibility criteria to get an online personal loan approval for salaried and self-employed individuals are:

Eligibility Criteria

Age: 21 years - 60 years
Employment Type: (1) Salaried (2) Self-Employed professionals
Credit score: 700 or above with a good credit history
Loan Amount: Up to ₹50 lacs depending on the credit profile
Minimum Net Income (Monthly): ₹20,000 to above

Documents Required for Personal Loan

The common documents required for an online personal loan approval are given below:

For Salaried Individuals

Identity & Age Proof
Completely filled personal loan application with photograph
PAN Card
Residence proof - Passport driving licence, Voter ID, postpaid/landline bill, utility bills (electricity/water/gas)
Bank statements for the last 3 months(preferably your salary account)
Salary Slips of last 3 months
Form 16 or Income Tax Returns of last 3 years

For Self-Employed Individuals

Identity & Age Proof
Completely filled personal loan application with photograph
PAN Card
Residence proof - Passport driving licence, Voter ID, postpaid/landline bill, utility bills (electricity/water/gas)
Bank statements for the last 3 months(preferably your salary account)
Salary Slips of last 3 months
Last 3 years Income Tax Returns with computation of Income
Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account