Vehicle loan as the name itself said the loan which is used to purchase vehicles for any private,
professional, and business purpose and it is available for both new as well as used vehicles but
if the loan is taken for old vehicles than it mustn’t more than 15 Years old. Vehicle loan is the
best option for borrowers who are desirous to buy their first business vehicles or having a plan
to add a new one in his existing chain of vehicles.
This loan is provided by some of the main lenders in the country at the best nominal interest
rates. SUB PARIVAR provide loan for car, bike, truck, or any other vehicle. In the Vehicle loan
agreement, the buyer needs t pay the principal amount with additional finance charges.
Benefits of Vehicle Loan
1. Flexible repayment period
2. Easy Documentation
3. No Cibil score compulsion
4. Multiple finance option
5. Fast process
Eligibility Criteria for a Vehicle Loan
You must be 18 to 65 years of age to apply for a loan.
Your minimum monthly income should be more than 10,000 rupee.
You must be a salaried person or self-employed.
The minimum work experience should be 2 years for salaried person and self-employed
must be a business at least 2 years.
The applicant has 6-month bank statement details of passbook.
Applicant must have stayed in the current address for at least a year.
Document Required For a Vehicle Loan
The applicant has age proof such as PAN Card, Passport, Driving license, etc.
The applicant has residence proof any one of them such as Voter ID, Driving license,
Postpaid Utility Bill, Rent agreement, etc.
Bank statement for the last 6 months and
Applicant has 3 months’ salary slips.
The self-employment applicant has a profit and loss balance sheet for at least 2 years.
Income tax return or form 16
These are floating rate loans; we are giving you the best vehicle loan rates in India. The Interest
rate may vary by borrower occupation, tenure, and loan amount.