Auto Loan Eligibility

Eligibility Criterion for Automobile or Car loans in India

Banks have different set of criterions to offer Automobile or Car loans in India. Here we have listed common set of eligibility standards to give you an overview.
If you need detailed information you can visit respective bank’s website or contact us or fill up the form to know about the best Automobile or Car Loan solution (free) for you.

Automobile or Car loans in India for Salaried Individuals:

Age of the applicant

21 years to below 60 years (at the time of maturity)

Minimum employment period

1 year full time working experience as a confirmed employee.

Minimum Income

Rs. 7500/PM+EMI (Take Home) or Rs.100000/PA (net) and above.

Employment Type

A permanent employee of State/Central Govt., Public Sector Undertakings / Corporations / Private Sector Companies and reputed establishments / quasi govt. / Defense / Police force or Autonomous Body / An established education institution / aided college / school / Autonomous bodies / Private / Public Ltd Co.

Bank statement

Minimum of last 6 months (Not mandatory for all banks).

Automobile or Car loans in India for Self Employed Individuals:

Age of the applicant

21 years to below 65 years (at the time of maturity)

Business Establishment

Minimum 3 years in present business (5 years experience in total)

Minimum Income

Rs. 60000/PA and above (Gross) (Some banks calculate on 60000/PA as Net Profit)


Must have Landline telephone running for last 6 months (minimum).


Minimum stay at current address must be for 2 years.

Automobile or Car loans in India for Partnership Firm:

Minimum Income

Rs.100000/- PA or above

Minimum turnover

Rs.4.5 lacs or above


One phone at office and residence


Must be existing for least 3 years

Loan Application
  Loan Type
  Phone No.
  Loan Amt.
  Emp. Type
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