Used Car Loan:

We are the largest players in the Preowned Car Space. Planning to buy a pre-owned car? Any Bank provides upto 100% finance for used cars, with hassle-free processing, minimal documentation and quick disbursals. We not only help you with finance but also assist you in finding your perfect car. The Car Bazaar has a wide range of listings from preferential dealers across the country. You can search for your dream car by brand, location, EMI, etc. We also finance a used car you may want to buy from friends, family or other car-owners. When you take a used car loan from Any Bank, you are guaranteed peace of mind, because we do all the due diligence and ensure a smooth title transfer.Benefits

Loan Amount

Avail of loans up to Rs.2.5 crore on a wide range of used cars and multi-utility vehicles

Get between 3 to 6 times your yearly income, and borrow up to 100% of the value of the car* *Age of Car at loan maturity should not cross 10 years, subject to maximum loan tenure of 60 months

Unmatched service

Benefit from end-to-end advisory -- from research to title transfer

Get personalized help to choose a car that meets your specific needs

Enjoy preferential pricing if you are a customer

Avail of customized and convenient repayment plans with pocket-friendly EMIs

Flexible Repayment Tenure

Flexible repayment tenures from 12 months to 84 months

Quick and easy Processing and approval

Experience transparent hassle-free processing, quick approvals and speedy disbursals

Track your application anytime, anywhere. Get status updates about your loan application at every stage

Enjoy doorstep service and quick and easy documentation

Check your loan eligibility in just 60 seconds

Loan without income document

Get 80% of the value of the car as loan amount for 3 years without income proof

Get 85% of the value of the car as loan amount for 5 years without income proof

Buying assistance

Compare, research and read reviews for used cars Car Bazaar

Search for cars by Brand, Price and EMI

**Offers on specific models. Terms & conditions apply.

The following people are eligible to apply for a Pre-Owned Car Loan:

Salaried Individuals:

  • This includes doctors, CAs, 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. 2,50,000 per year, including the income of the spouse

Self Employed Individuals (Sole Proprietorship):

  • This includes self-employed sole proprietors in the business of manufacturing, trading or services
  • Individuals who are a minimum of 25 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 3 years
  • Should earn at least Rs. 2,50,000 per annum

Self Employed Individuals (Partnership Firms):

  • This includes self-employed partners in the business of manufacturing, trading or services
  • Individuals who earn at least Rs. 2,50,000 per annum
  • Those who have a minimum turnover of Rs. 4,50,000 per annum
  • Individuals who have a residence or office telephone line. A post-paid mobile phone that is a minimum of three months old is acceptable if only one landline is available

Self Employed Individuals (Private Limited Companies)

  • This includes individuals who own a private company in the business of manufacturing, trading or services
  • Should earn at least Rs. 2,50,000 per annum
  • Individuals who have an office landline

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. 2,50,000 per annum
  • Individuals who have an office landline

Self Employed Individuals (Hindu Undivided Family - HUF):

  • This includes self-employed individuals in a business that falls under HUF
  • Should earn at least Rs. 2,50,000 per annum
  • Individuals who have a residence and office telephone line. A post-paid mobile phone that is a minimum of three months old is acceptable if only one landline is available
  • The Karta should be the co-applicant in his individual capacity

The Home Tree Pre-Owned Car Loan Rates & Fees are as follows:

Description of Charges Amount to be Paid
Foreclosure charges*
  • No foreclosure allowed within 6 months from date of availing the loan
  • 6% of Principal Outstanding for pre-closures within 1 year from 7th EMI
  • 5% of Principal Outstanding for pre-closures within 13-24 months from 1st EMI
  • 3% of Principal Outstanding for pre-closures post 24 months from 1st EMI
Part-payment charges*
  • Part-payment is allowed subject to completion of 12 months (i.e., post payment of 12 EMIs)
  • Part-payment will be allowed only twice during the loan tenure, and is allowed only once per year. At any point of time, part-payment will not increase beyond 25% of Principal Outstanding
  • 5% of the part-payment amount in case part prepayment in within 13-24 months from 1st EMI
  • 3% on the part-payment amount in case part prepayment is post 24 months from 1st EMI
Stamp Duty (non-refundable) At actuals
Late Payment Penalty 2% per month
Processing fees* (non-refundable) 2% of loan amount or Rs. 5,000/-, whichever is lower
Cheque/ECS swapping charges Rs. 500/- per instance
Loan cancellation In the event of cancellation, interest charges from date of disbursement till the date of cancellation of loan will be borne by the customer. Processing Fee and Stamp Duty and RTO charges (Used Car Purchase/Refinance) are non-refundable charges and would not be waived/refunded in case of loan cancellation
Legal, repossession & incidental charges At actuals
Duplicate No Due Certificate/NOC Rs. 500/- per instance
Loan reschedulement charges/rebooking charges Rs. 1,000/- will be charged. If changes are required on RC, refundable Security Deposit – non-interest bearing of Rs. 5,000/- would be required. It will be the borrower's responsibility to provide the transferred Registration Certificate to the bank.
LPG/CNG NOC/Other Special NOC Rs. 500/- per instance
CIBIL Charges (only on request) Rs. 50/-
Cheque/SI/ECS Return Charges* Rs. 550/- per instance
Amortisation Schedule Charges Customer can download the schedule from E-Delight free of cost
Rs. 200/- per schedule would be charged at the customer service desk
Commercial/Personal Use NOC (conversion subject to credit approval) Rs. 2,250/- per NOC
Rack interest rate 11.50% to 17.50% depending on the segment and age of vehicle
Valuation charges* Rs. 500 per case

Inter-State NOC
Refundable Security Deposit (non-interest bearing) of Rs. 5,000 will be taken. It will be the borrower's responsibility to provide the transferred Registration Certificate to the bank. In addition, NOC charge would be Rs. 500/-.
It is also advised that the customers should refrain from and dealings in cash with the Bank's Direct Sales associates. Borrowers should also not make any payments in cash/bearer cheque or kind in connection with the loan, to the executive, dealing with the borrower for purpose of the loan.

Rates offered to customer during the period of Apr'18 to Jun'18


Bank IRR
Product Min IRR Max IRR Avg IRR
USED CAR LOAN AND LOAN AGAINST CAR 10.16% 16.95% 13.70%

Annual Percentage Rate offered to customer during the period of Apr'18 to Jun'18


APR
Product Min APR Max APR Avg APR
USED CAR LOAN AND LOAN AGAINST CAR 10.22% 17.88% 13.89%

Note: * Foreclosure, Part-Payment, Processing fees, Valuation Charges and Cheque/SI/ECS Return charges are exclusive of Government Taxes. Government Taxes and other levies as applicable would be charged additionally.

List of papers/ documents applicable to all applicants:

Salaried Individuals:

  • Any of the following age proof documents:
    • Aadhar Card
    • Passport
    • PAN Card
    • Voters ID Card
    • Photo Driving License with DOB (recent, legible, laminated)
    • Photo Ration Card with DOB
    • Employer Certificate/ID
    • School/College Leaving Certificate
  • Any of the following documents as proof of identity:
    • Aadhar Card
    • Passport Copy
    • PAN Card
    • Voters ID Card
    • Photo Driving License with DOB (recent, legible, laminated)
    • Photo Ration Card with DOB
  • All the following documents as proof of income:
    • Latest Salary Slip
    • Latest Form 16/Latest ITR
    • Any Bank corporate salary account statement for salary credits above Rs. 80,000 for the previous 3 months
  • Any of the following documents as address proof:
    • Photo Ration Card with DOB
    • Photo Driving License with DOB (recent, legible, laminated)
    • Passport Copy
    • Telephone Bill
    • Electricity Bill
    • Credit Card Statement with Credit Card Copy
    • Employer Certificate/ID
  • Any of the following as sign verification proof:
    • Passport Copy
    • Photo Driving License with DOB (recent, legible, laminated)
    • Credit Card Statement with Credit Card Copy
    • Banker's Verification
    • Copy of Margin Money Paid to the Bank

Self Employed Individuals (Sole Proprietorship):

  • Any of the following age proof documents:
    • Aadhar Card
    • Passport
    • PAN Card
    • Voters ID Card
    • Photo Driving License with DOB (recent, legible, laminated)
    • Photo Ration Card with DOB
    • Employer Certificate/ID
    • School/College Leaving Certificate
  • Any of the following documents as proof of identity:
    • Aadhar Card
    • Passport Copy
    • PAN Card
    • Voters ID Card
    • Photo Driving License with DOB (recent, legible, laminated)
    • Photo Ration Card with DOB
  • Latest ITR / Previous ITR with Adv. Tax paid Challan / latest IT assessment order as proof of income
  • Any of the following documents as address proof:
    • Photo Ration Card with DOB
    • Photo Driving License with DOB (recent, legible, laminated)
    • Passport Copy
    • Telephone Bill
    • Electricity Bill
    • Credit Card Statement with Credit Card Copy
    • Employer Certificate/ID
  • Any of the following as sign verification proof:
    • Passport Copy
    • Photo Driving License with DOB (recent, legible, laminated)
    • Credit Card Statement with Credit Card Copy
    • Banker's Verification
    • Copy of Margin Money Paid to the Bank

Self Employed Individuals (Partnership Firms):

  • Partnership deed as age proof
  • Partnership deed as identity proof
  • Latest ITR/Previous ITR with Adv. Tax paid Challan / latest IT assessment order as proof of income. In case the business turnover exceeds Rs. 40 Lakhs, or the professional turnover exceeds Rs. 10 Lakhs, the balance sheet needs to have been audited, and in which case the latest Income Tax Return need not be taken
  • Any of the following documents as address proof:
    • Partnership Deed
    • Telephone Bill
    • Electricity Bill
  • Any of the following as sign verification proof:
    • Passport Copy
    • Photo Driving License with DOB (recent, legible, laminated)
    • Credit Card Statement with Credit Card Copy
    • Banker's Verification
    • Copy of Margin Money Paid to the Bank

Self Employed Individuals (Private Limited Companies)

  • Memorandum and Articles of Association/Certificate of Incorporation as age proof
  • Memorandum and Articles of Association/Certificate of Incorporation as identity proof
  • Latest ITR and audited balance sheet along with profit & loss account as proof of income
  • Any of the following documents as address proof:
    • Memorandum and Articles of Association
    • Certification of Incorporation
    • Telephone Bill
    • Electricity Bill
  • Any of the following as sign verification proof:
    • Passport Copy
    • Photo Driving License with DOB (recent, legible, laminated)
    • Credit Card Statement with Credit Card Copy
    • Banker's Verification
    • Copy of Margin Money Paid to the Bank

Self Employed Individuals (Public Limited Companies):

  • Memorandum and Articles of Association/Certificate of Incorporation as age proof
  • Memorandum and Articles of Association/Certificate of Incorporation as identity proof
  • Latest ITR and audited balance sheet along with profit & loss account as proof of income
  • Any of the following documents as address proof:
    • Memorandum and Articles of Association
    • Certification of Incorporation
    • Telephone Bill
    • Electricity Bill
  • Any of the following as sign verification proof:
    • Passport Copy
    • Photo Driving License with DOB (recent, legible, laminated)
    • Credit Card Statement with Credit Card Copy
    • Banker's Verification
    • Copy of Margin Money Paid to the Bank
Apply Now

Info

“Home Tree” is a Group run by team of young and energetic Ex-Banker's. We Have vision to bridge the gap between Customer and Bank for an individual and create one stop shop for our diversified services into Debt articulation, Over Drafts, Unsecured Loans, Refinancing business, Corporate Funding and Investments.

Contacts

D-375 LGF Defence Colony New Delhi - 110024
+91 - 8800324484

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