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Presentation on car loan
1. Presented to : Ms Yukti Makkar
Presented by : Gurjot Singh
Presentation on Car Loan
2.
3. What is Car Loan??
A car loan is a personal loan that allows the potential
buyer to pay the vehicle off in monthly payments instead
of having to pay the full price all at once. This means that
a lending servicer or bank will pay off the car in full,
while in return the borrower pays off the debt in monthly
payments with an interest fee included as well.
4. Continue……
This type of personal loan may be either a secured or non-
secured loan depending on the situation they are in. But for the
most part lenders will usually offer a loan that is secured just in
case the borrower falls behind on their payments and fails to
pay off the debt. If the borrower fails to pay the monthly
payments, their lender will repossess the car to pay off the debt.
5. Salaried individuals who
are eligible for a loan
Self-employed individuals
who are eligible for a loan
Minimum 21 years of age
Maximum 70 years of age at maturity
(conditions apply)
Minimum Net Annual Salary of Rs.
2,40,000 p.a. for all approved car
models
Income eligibility based on latest
salary slip and Form 16
Minimum of 1 year continuous
employment
Minimum 18 years of age
Maximum 75 years of age at loan
maturity
Minimum Net Annual Business income
of Rs. 1, 80,000 p.a. for selected
models and Rs. 2, 00,000 p.a. for
others.
Income eligibility based on latest
Income Tax Returns
Minimum 3 years of employment in the
same line of business.
Requirement for car loan….
6. Document Require for loan….
Age proof
ID proof
Application form
Photograph
Residence proof
Income proof
Bank statement
Signature verification proof
7. SBI,ICICI,HDFC Car Loan
SBI ICICI HDFC
Interest Rate 9.60% Floating 10.75% Fixed 9.25% Fixed
Interest
Calculation
Monthly reducing
balance
Monthly reducing
balance
Monthly reducing
balance
Maximum Loan
Amount
Eligibility
85.00% of on-
road price
100.00% of ex-
showroom price
100.00%
Maximum Loan
Tenure (years)
7 years 7 years
7 years
Age (years) Between 21 years
and 65 years
Between 18 years
and 65 years
Between 21 years and
60 years