The following people are eligible to apply for a New Car Loan:
Salaried Individuals:
This includes employees of private limited companies, employees from public sector undertakings, including central, state and local bodies
Individuals who are a minimum of 21 years of age at the time of applying for the loan, and no older than 60 at the end of the loan tenure
Individuals who have had a job for at least 2 years, with a minimum of 1 year with the current employer
Those who earn a minimum of Rs. 3,00,000 per year, including the income of the spouse/co-applicant
Individuals who have a telephone/post-paid mobile
Self Employed Individuals and Professionals (Sole Proprietorship):
This includes self-employed sole proprietors in the business of manufacturing, trading or services
Individuals who are a minimum of 21 years of age at the time of applying for the loan, and no older than 65 at the end of the loan tenure
Those who have been in business for a minimum of 2 years
Should earn at least Rs. Rs. 3,00,000 per annum
Self Employed Individuals and Professionals (Partnership Firms):
This includes self-employed partners in the business of manufacturing, trading or services
Those who have a minimum turnover of Rs. Rs. 3,00,000 per annum
Self Employed Individuals and Professionals (Private Limited Companies):
This includes individuals who own a private company in the business of manufacturing, trading or services
Should earn at least Rs. Rs. 3,00,000 per annum
Self Employed Individuals (Public Limited Companies):
This includes directors in public limited companies that are in the business of manufacturing, trading or services
Should earn at least Rs. Rs. 3,00,000 per annum
