JSR Financial

Overview

What is a Vehicle Loan?

A Vehicle Loan is a credit facility offered by banks and NBFCs to help you purchase new or pre-owned cars, two-wheelers, or commercial vehicles. The vehicle itself serves as collateral, and repayments are made through EMIs.

Loan Amount

₹25,000 – ₹1 Crore
(depending on vehicle & bank policy)

Tenure

1 – 7 years (up to 10 for commercial)

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Types of Vehicle Loan

New Car Loan
Used Car Loan
Two-Wheeler Loan
Commercial Vehicle Loan
Electric Vehicle Loan
Loan Against Vehicle

Key Benefits

Up to 90% financing of on-road price
Quick approvals & disbursal
Flexible tenure options
Competitive interest rates
Trusted by leading banks & NBFCs

Eligibility

Who can apply?

Eligibility varies by lender, but standard criteria include:

For Salaried Individuals

Age: 21 – 65 years at loan maturity
Minimum 1 year of employment
Minimum monthly income: as per lender (₹12,000+ typical)
Acceptable credit score
Valid KYC documents

For Self-Employed Professionals

Age: 23 – 70 years at loan maturity
Business continuity of 2 years or more
Minimum annual income as per bank/NBFC
Valid ITRs & audited statements
Valid KYC documents

Documentation

Documents Required

General list (exact documents may vary by bank/NBFC):

For Salaried

KYC: PAN, Aadhaar, Address proof
Last 3 months salary slips
Form 16 / Income certificate
Last 6 months bank statements
Vehicle quotation / invoice

For Self-Employed Professionals

KYC: PAN, Aadhaar, Address proof
Business proof: GST/License/Registration
Last 2 years ITRs
Audited financial statements
Last 12 months bank statements
Vehicle quotation / invoice

Ready to Apply for a Personal Loan?

Quick online application • Guidance from our loan counselors • Secure and transparent process

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