Best Vehicle Loan Rates in Chennai
Turn your dream car into reality by purchasing. Let Vijay Capitals help you with low car loan interest rates that are suited to your needs to help you make a better decision. Just decide on the make & model, and our New Car Loan will bring it to your driveway in no time.
Car Loan Features
Get attractive loans for your next car purchase from IndusInd Bank. Visit any of our nearest branches or apply online. Key features of our car loans are
- Easy online application
- Faster loan processing
- Speedy disbursement of the loan amount
- Loans available for broad range of vehicles and customer segments
- Attractive interest rates
Car Loan Personal Use Eligibility CriteriaNow your dream car can be within your reach with IndusInd Car Loans. Get the following documents to our branch or apply online to check your eligibility.
For Salaried Employees
- Age Limit – Minimum 21 years at the time of application upto maximum 60 yrs
- Income Limit – Minimum income must be Rs. 2,50,000/- per annum.
- Work Experience – A minimum of 3 years of total experience, and must have completed 1 year of service with the current employer immediately prior to application.
- Residence stability : 3 years in the city and 1 year in the current residence or should be residing the own house
Documents Required
1 Passport size photo
Self-attested photocopy of any one of the following:
- Driving License
- Passport
- Voters ID
- Aadhaar Card
- PAN Card
Self-attested photocopy of any one of the following:
- Driving License
- Passport
- Voters ID
- Aadhaar Card
- Utility bills
Self-attested photocopy of any one of the following:
- Latest 2 yrs IT returns with computation
- Salary slips of 3 months immediately prior to the date of application
Compulsory – Bank statement for 6 months immediately prior to date of application
Self-Employed – Income based
- Age Limit – Minimum 21 years at the time of application upto maximum 65 yrs
- Income Limit – A minimum net profit of Rs. 2,00,000/- per annum.
- Business Experience – 3 years of minimum business stability mitigated with proof.
- Residence stability : 3 years in the city and 1 year in the current residence or should be residing the own house
- Should have a CIBIL score of above 600 and above. Should not be from a Negative or Caution profile.
Documents Required
1 Passport size photo
Self-attested photocopy of any one of the following:
- Driving License
- Passport
- Voters ID
- Aadhaar Card
- PAN Card
Self-attested photocopy of any one of the following:
- Driving License
- Passport
- Voters ID
- Aadhaar Card
- Utility bills
Self-attested photocopy of any one of the following:
- CST Certificate/ labour act
Proof of ownership of entity - Shop establishment act /ssi certificate
- Rental deed/ utility deed in the name of the company
Latest 2 yrs IT returns with computation
Compulsory – Bank statement for 6 months immediately prior to date of application
Self-employed – Non income based
- Age Limit – Minimum 21 years at the time of application upto maximum 65 yrs
- Business Experience – 3years of minimum business stability mitigated with business ownership proof.
- Residence stability : 3 years in the city and 1 year in the current residence or should be residing the own house
- Should have a CIBIL score of above 600 and above. Should not be from a Negative or Caution profile.
Documents Required
1 Passport size photo
Self-attested photocopy of any one of the following:
- Driving License
- Passport
- Voters ID
- Aadhaar Card
- PAN Card
Self-attested photocopy of any one of the following:
- Driving License
- Passport
- Voters ID
- Aadhaar Card
- Utility bills
Self-attested photocopy of any one of the following:
- CST Certificate/ labour act
Proof of ownership of entity - Shop establishment act /ssi certificate
- Rental deed/ utility deed in the name of the company
Compulsory – Bank statement for 6 months immediately prior to date of application
Car Loan commercial use eligibility criteriaBuying your first taxi or planning to grow your fleet of taxis, IndusInd Car Loans for taxis is the best solution for you to build your taxi business. Walk into our branch or apply online for a car loan which is specially designed keeping your requirements into consideration.
Eligibility for a single Taxi
- Age Limit – Minimum 25 years at the time of application upto maximum 65 yrs
- Business Experience –Valid driving license with badge for atleast 3 yrs
- Residence stability : 3 years in the city and 1 year in the current residence
- Own House ownership : Mandatory own residence in the name of applicant or co applicant
- Guarantor : COMPULSORY GURANTOR WITH ATLEAST 12 MONTHS OF COMMERCIAL EXPERIENCE validated with a Repayment track/RC copy/ License badge
- Should have a CIBIL score of above 600 and above. Should not be from a Negative or Caution profile.
Eligibility for fleet size of more than 1
- Age Limit – Minimum 25 years at the time of application. You can serve the entire loan tenure up to a maximum of 65 years of age.
- Fleet ownership : Atleast 1 vehicles to be owned
- Business Experience –Ownership of 1 vehicles and above validated with RC copy
- Residence stability : 3 years in the city and 1 year in the current residence
- Own house ownership : Optional residence in the name of applicant or co applicant
- Guarantor :Not mandatory
- Repayment track : At least one repayment track to be documented with 12 months seasoning
- EXPERIENCE validated with a Repayment track/RC copy/ License badge
- Should have a CIBIL score of above 600 and above. Should not be from a Negative or Caution profile.
Documents Required
All customers are requested to provide originals for one-time verification.
1 Passport size photo
Self-attested photocopy of any one of the following:
- Driving License
- Passport
- Voters ID
- Aadhaar Card
- PAN Card
Self-attested photocopy of any one of the following:
- Driving License
- Passport
- Voters ID
- Aadhaar Card
- Utility bills
Driving license with badge
Ownership of taxi vehicle – RC copy
Driving license with badge
Compulsory – Bank statement for 6 months immediately prior to date of application
Avail a New Car Loan from HDFC Bank
HDFC Bank offers a wide range of car loans that can be tailored to your needs. This comprehensive product offering and a robust disbursal process make HDFC the frontrunner for car loans. Enjoy three-fold benefits when you avail a new car loan from HDFC bank.
- Quick Disbursal – We offer hassle-free car loan at your doorstep. Experience ease of documentation, quick sanction and disbursal.
- Attractive Interest Rates – Our car loan interest rates and processing charges are highly competitive.
- Customer-Friendly Policies – Our loan process is completely transparent, with no hidden charges. We handhold you at each stage of the process and offer continuous status updates for your loan application.
Features and Benefits of New Car Loans
HDFC Bank New Car Loan offers the following exclusive features and benefits:
- Get up to 100% finance on your favourite car.**
- Avail loans for the widest range of cars and multi-utility vehicles in India.
- Experience flexible loan repayment tenures – from 12 months up to 84 months.
- Avail a car loan of up to 6 times your yearly income
- Check Car Loan eligibility in a minute. Approval of Car loan in 30 minutes
- Pocket-friendly EMI repayment options
- Fastrack your loan by choosing the plan that is right for you.
- Reasonable interest rates.
- Swift and customer-friendly documentation process.
- Unique schemes for existing HDFC bank customers.
- Easy loans up to Rs. 1.5 Cr.
**Offers on specific models. Terms & conditions apply.
Eligibility and Documentation of New Car LoansGet details on eligibility criteria & documents required for HDFC Bank New Car Loans Check which category you fit into first. Depending on the kind of work you do, our requirements to give you a loan will be different.
Salaried employee
This category includes salaried doctors, CAs, employees of select public and private limited companies, government sector employees such as public sector undertakings and central, state and local bodies.
You should:
- Minimum age for Salaried is 21 years (at time of loan application) and <=60 (at the end of the loan tenure)
- Have had a job for at least 2 years, and a minimum of 1 year with your current employer
- Earn at least an income of Rs. 1,80,000 annually, including the income of your spouse/Co-applicant.
- Have a tele-phone/ post paid mobile
Documents Required
Self-attested photocopy of any one of the following:
- Passport copy
- PAN Card
- Voters Id card
- Driving licence (Laminated, Recent, Legible)
Self-attested photocopy of any one of the following:
- Driving License
- Passport
- Voters ID
- Telephone bill Life insurance policy PAN Card
- Ration card
Last 6 months
Latest salary slip with form 16.
self employed individual (Sole Proprietorship)
This category includes self-employed sole proprietors in the business of manufacturing, trading or services.
You should:
- Minimum age for Self Employed is 21 years (at the time of loan application) and <=65 (at the end of the loan tenure)
- Be in business for at least 2 years
- Earn at least Rs. 60,000 per annum if you are looking to buy a standard car and at least Rs. 1,00,000 per annum for mid-sized and premium cars
- Have a telephone at residence / Post Paid mobile connection
Documents Required
Self-attested photocopy of any one of the following:
- Passport copy
- PAN Card
- Voters Id card
- Driving licence (Laminated, Recent, Legible)
Self-attested photocopy of any one of the following:
- Driving License
- Passport
- Voters ID
- Telephone bill Life insurance policy PAN Card
- Ration card
Last 6 months
Latest ITR
Self employed (Partnership Firms)
This category includes self-employed partners in the business of manufacturing, trading or services.
You should:
- Earn at least Rs. 60,000 per annum if you are looking to buy a standard car and at least Rs. 1,50,000 lakh/anum for car loan
- Have a minimum turnover of Rs. 4,50,000 per annum
- Have a landline at your office and residence.
- Have a tele-phone/ post paid mobile
Documents Required
Audited balance sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company
Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
Last 6 months
self employed (Private Limited Companies)
If you own a private company in the business of manufacturing, trading or services, this is for you.
You should:
- Earn at least Rs. 60,000 per annum if you are looking to buy a standard car and at least Rs. 1,50,000 per annum for mid-sized and premium cars
- Have a minimum turnover of Rs. 4,50,000 per annum
- Have a landline at office
- Have a telephone at residence / Post Paid mobile connection
Documents Required
Audited balance sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company
Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
Last 6 months
Self employed (Public Limited Companies)
If you are a director in a public limited company in the business of manufacturing, trading or services, this is for you.
You should:
- Earn at least Rs. 60,000 per annum if you are looking to buy a standard car and at least Rs. 1,50,000 per annum for mid-sized and premium cars
- Have a minimum turnover of Rs. 4,50,000 per annum
- Have a landline at office
Documents Required
Audited balance sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company
Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
Last 6 months
Frequently Asked Questions
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.
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 **.
**Offers on specific models .Terms & conditions apply.
The choice is yours. You can choose any repayment option from 12 to 84 months all specially designed to suit your requirements.
We finance most passenger cars and multi-utility vehicles manufactured by India’s leading automobile companies
Yes, the car should be hypothecated to IndusInd Bank after the loan sanction process before disbursement. Used car loans offered by IndusInd Bank are flexible in nature, with funding of used cars up to the maturity age of 8 or 10 years depending on the customer profile.
Yes, IndusInd Bank has tailor made schemes for persons like you. We offer funding without the income proof also.
No additional security/collateral has to be provided apart from the car against which the loan is granted, which should be hypothecated to IndusInd Bank.
Any individual who has the ability to repay the loan as per the bank standards residing in the same city can be taken as co-applicant. This requirement varies from case to case and our sales team would help you out.
We fund up to 85% of the ex-showroom price of the vehicle which varies depending on the model. Loan quantum is also dependent on the profile and income of the customer.
The tenure of the loan could range from 1 to 4 years (however the tenor can be increased based on the customer’s relationship at the discretion of the bank) for new car and 1 to 3 years for used cars
