Car Loans Mumbai | Interest Rates | Documents | Apply

Car Loan in Mumbai – Compare Eligibility & Apply for Car loans online in Mumbai, Best Lowest Car loan interest rates and EMI from banks such as SBI, HDFC, ICICI Bank, PNB, Kotak Prime, Axis Bank, Bank of Baroda in Mumbai including interest rates, repayment options, charges applicable.

Compare and Choose Lowest Interest Rates Car Loans in Mumbai. Latest Interest rates of Car loans in Mumbai. Low interest rates of Auto loans. Car Finance Companies in Mumbai with Lowest Interest Rates.

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Annual Income


Documents Required for Car Loan – or needed for Car Loan. Several documents establishing your identity, proof of income and residence are required for a loan. But, the documents pertaining to the car, new or old are very important. So even if you are eligible for a loan, without proper car documents you can not get a loan.

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List of Documents:-

Particulars Salaried Individual Self-Employed Individual Partnership Firm Private / Public Ltd Co
Age Criteria The applicant should be above 25 years old at time of application, and up to 58 years of age at time of maturity of the loan Any proprietor, partner, professional or director above 28 years but below 65 years at the time of the loan maturity.
Limited companies should have been in existence for at least 3 years
Income Criteria Gross annual income of at least Rs.4lakhs Gross annual income of at least Rs.2.5lakhs Firm should have a minimum PAT (profit after tax) of Rs.2.5lakhs Minimum PAT (profit after tax) of Rs. 2.50 lakhs
Stability The total employment stability should be more than 2 years and current employment stability of minimum 1 year Business stability should be more than 3 years

Other Papers and Documents – Income proof:
Salaried individuals :
Latest Salary Slip and 2 years Form 16/ Income tax returns.

Self-Employed individuals:
Income Tax Returns of 2 previous financial years.

Partnership Firms, Societies & Companies :
Income Tax returns of 2 previous financial years along with complete financial/audit report.

Documents supporting customer information :
Identity Proof, Signature Proof and Address Proofs as per Bank norms.

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Best Available Banks for Car Loans in Mumbai

HDFC Car Loan

ICICI Car Loan SBI Car Loan
Bank of Baroda Car Loan Kotak Prime Car Loan Axis Bank Car Loan
Bank of India Car Loan TATA Car Finance PNB Car Loan

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