Auto Loan Provider in Ranchi

Benefits of a Auto Loan Ranchi

Loan Walla the auto loan provider in Ranchi, finances the majority of passenger cars and multipurpose trucks on the market because we keep the process very transparent, easy, and quick. We do not even add any hidden charges and provide new car loan in Ranchi at a very low interest rate.

• Appealing interest rates: Our ex-showroom funding is up to 100%, and our interest rates are fair too.
• Various Options for Repayment: You have the option of paying with cash, check, or online for our automobile loan, which is based on a flat rate model.
• Very little documentation: We serve both self-employed and salaried clients, including traders and farmers, regardless of their income status.
• Rapid Payment: Subject to document submission, our easy and fast process can issue your vehicle financing as soon as your application is accepted.

Eligibility Criteria for a Car Loan

The Eligibility Criteria for a Car Loan for a smooth process are mentioned below:

• 1.Salaried Individuals:
  • Minimum age requirement for applicants: 21 years.
  • The applicant's maximum age at loan maturity: 60 years.
  • Employment: a minimum of one year in the current organization and three years of employment.
  • Minimum Monthly Income: ₹ 25,000 per month.
• 2.Self-Employed:
  • Minimum age requirement for applicants: 21 years.
  • The applicant's maximum age at loan maturity: 65 years.
  • Years in business: Two years or more in the same company.
  • Minimum Annual Income: ₹ 3,00,000 per annum.
• 3.Partnership Firms & Private Limited Companies
  • Minimum age requirement for applicants: 21 years.
  • The applicant's maximum age at loan maturity: 65 years.
  • Years of business: At least two years in the same industry.
  • Minimum Annual Income: ₹ 3,00,000 per annum.

What documents are needed for an auto loan in Ranchi?

Millions of today's youth still have the dream of having their own car. Now the years of waiting and saving money for buying a car are over. It's the time when you should make your dream a reality by owning your car just by an auto loan. Apply for a car loan today and own it with just a few basic documents, which are mentioned below:

• Salaried Individuals

  For proof of identity and address, any of the following documents required for car loan:

  • A letter issued by the National Population Register containing details of name & address
  • Aadhar Card (only if submitted voluntarily & backed by Aadhar consent letter; the first 8 digits of the Aadhar Number on the physical copy are to be redacted). The Aadhar Card can be a Physical Aadhar or a printout of the e-Aadhar (not older than 30 days from the date of application).
  • Job card issued by NREGA
  • Permanent Driving license [recent, legible, laminate]
  • Valid Passport
  • Voter's ID Card

  Current pay stub and Form 16 as evidence of income Bank statement of the previous 6 months.

• Self-Employed Individuals

  For proof of identity and address, any of the following documents

  • Valid Passport
  • Voter's ID Card
  • Permanent Driving license [recent, legible, laminate]
  • Job card issued by NREGA
  • A letter issued by the National Population Register containing details of name & address

  Latest Income Tax Returns (ITR) as income proof The last six months' bank statement

• Public Limited Companies

  All of the following documents serve as evidence of income:

  • Audited Balance Sheet
  • Profit and Loss Statement for the Past Two Years

  Any one of the following records as proof of address:

  • Electricity Bill
  • Sales Tax Certificate
  • SSI Registered Certificate
  • Telephone Bill
  • Shop & Establishment Act Certificate

  Bank statement for the previous 6 months

• Partnership Firms

  The following documents serve as proof of income:

  • Audited Balance Sheet
  • Account of Profit and Loss for the Past Two Years
  • ITR for the previous two years for the company

  You can use the following documents as proof of address:

  • Electricity Bill
  • Sales Tax Certificate
  • Shop & Establishment Act Certificate
  • SSI Registered Certificate
  • Shop & Establishment Act Certificate
  • Telephone Bill
  • The last 6 months' bank statement
• Private Limited Companies

  The following documents serve as proof of income:

  • Audited Balance Sheet
  • The previous two years' profit and loss account
  • ITR of the company for the preceding two years

  Any of the following records as proof of address:

  • Electricity Bill
  • Sales Tax Certificate
  • Shop & Establishment Act Certificate
  • SSI Registered Certificate
  • Shop & Establishment Act Certificate
  • Telephone Bill
  • The last 6 months' bank statement

• Adjustable Repayment Duration: Over a flexible period of 12 to 84 months, pay back your auto loan in a comfortable manner. We make sure your repayment schedule works with your cash flow, whether you're financing a new car, a used car, or prefer to refinance a used car.
• Attractive car loan interest rates: Favorable interest rates are available on both new and used cars. In order to assist you in better managing your finances, we also provide refinancing options for used cars.
• Auto Loans Up to 100% of Vehicle Value: We guarantee that your financial needs are satisfied without incurring any upfront fees by providing funding of up to 100% of the vehicle's value, contingent on your eligibility.
• Easy Documentation Procedure: Whether you're applying online or in person, our streamlined and smooth documentation process guarantees a quick and simple loan application.
• Repayment via Easy EMI Plans: Select a repayment schedule that works for you. Depending on your financial situation, you can easily manage your payments with our flexible auto loan EMIs.
• Top-Up Service for Current Auto Loans: Do you need money? You can choose to top up your current auto loan, which is perfect for refinancing your current auto loan, buying a second car, or upgrading to a new vehicle.