Make Your Car Ownership Journey a Smooth Ride with BEFSSL Finance
We offer Car Loans that cater to your needs, with up to 100% financing on ex-showroom value from top brands like BEFSSL Finance, Hyundai, TATA Motors, Maruti Suzuki, Renault, and others. Our flexible repayment tenure and affordable EMIs make owning a car a hassle-free experience. Our expert team is always ready to assist you with the loan application process and ensure a seamless experience. Get your dream car today with BEFSSL Finance!
Book Your Dream Car
- Loans for New Cars starting from Rs. 1 lakh
- Loans for New Facelift versions and variants
- Up to 100% on-road fundings
Key Highlights
- Tie-ups with multiple OEMs & dealers
- Digitization of loan application process
- Insurance for Car, Self & Family
Car Loan Features and Benefits
- Wide Variety of Vehicles: We finance most passenger and multi-utility vehicles available in the market.
- Attractive Interest Rates: Our reasonable and affordable interest rates come with up to 100% ex-showroom funding.
- Multiple Repayment Options: Our car loan financing is based on a flat rate model and you can choose to pay via Cash, Cheque or Online.
- Minimal Documentation: We cater to all types of customers, salaried and self-employed, including farmers and traders, with or without income proof.
- Quick Disbursal: Our simple and quick process can have your car loan sanctioned as soon as your application is approved, subject to document submission.
Car Loan Eligibility & Documents
- KYC Documents – Passport/ PAN/ Aadhar (Eligibility Age Criteria is 21 years)
- Proof of Income – Salary Slips, Form 16, IT Returns, Bank Statements
- Identity and Proof of Address
Car Loan Eligibility Criteria
- Age Criteria: Generally, between 21 and 65 years
- Monthly Income: Meets minimum income threshold
- Credit Score: Good credit history preferred
- Existing Debts: Manageable Debt-to-Income (DTI) ratio
- Employment Type: Permanent employment status preferred
- Age Criteria: Must be between 21 and 65 years
- Annual Income: Demonstrates the ability to repay the loan
- Credit Score: Good credit history preferred
- Business Documentation: Tax returns, business registration documents etc.
- Financial Stability: Stable income and business performance
- Legal Entity: Properly registered business entity
- Business Stability: Minimum operational duration required
- Annual Turnover: Meets minimum turnover criteria
- Financial Stability: Demonstrates the ability to repay the loan
- Business Documentation: Audited financial statements, tax returns etc.
- Maintained an active account status with the Bank
- Long-standing relationship with the Bank
- Monthly Income: Meets minimum income threshold
- Employment Stability: Minimum employment duration required
- Credit Score: Good credit history preferred
- Existing Debts: Manageable Debt-to-Income (DTI) ratio
- Age Criteria: Generally, between 21 and 65 years
BEFSSL Finance Car Loan Eligibility Criteria for Diverse Applicants
- Salaried individuals must be aged between 20 and 65 years with a minimum monthly income of Rs 30,000.
- Self-Employed individuals must be aged between 21 and 70 years. An existing relationship with BEFSSL Finance is advantageous.
Car Loan Interest Rates
BEFSSL Finance offers easy Car Loans at competitive interest rates. You can take advantage of these rates to get your dream car with manageable monthly payments.
| Loan Type | Tenure (12-35 months) | Tenure (36-84 months) |
|---|---|---|
| New Car Loans | 10.20%* onwards, based on CIBIL Score and Car Segment | 9.10%* onwards, based on CIBIL Score and Car Model |
| Used Car Loans | 11.25%* onwards, based on CIBIL Score and Car Segment | |
Car Loan Documents
BEFSSL Finance simplifies Car Loan applications with a clear and comprehensive Car Loan Documents List. Summary of the documents is given below:
- KYC details
- Address proof
- Income evidence
- Proof of business or employment stability
Salaried individuals need recent Salary Slips whereas self-employed applicants must provide Financial Statements or Income Tax Returns. This streamlined process ensures a quick and stress-free Car Loan application process.