The document discusses car loans, which allow buyers to pay for a vehicle in monthly installments rather than all at once. A car loan is a personal loan where a lender pays for the car up front and the borrower repays the debt plus interest monthly. Most lenders offer secured loans, meaning the lender can repossess the car if payments are missed. Eligibility requirements include minimum income levels, proof of income, and identity documents. Interest rates and terms vary between lenders like SBI, ICICI, and HDFC.

1. Presented to : Ms Yukti Makkar
Presented by : Gurjot Singh
Presentation on Car Loan

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