info@logintoloans.com +91 8885545255

Logintoloans Assistant

Select your profession

Salaried Icon Salaried
Business Icon Business
CA CA
Doctor Doctor
NRI NRI
School School
College College
Student Student

Enter Pincode

Personal Details

Key Features of Sundaram Finance Car Loan

  • Flexible Funding Options:
    New car loans offer up to 100% funding on the ex-showroom price (subject to terms), while used car loans cover up to 85% of the vehicle’s assessed value.
  • Competitive Interest Rates:
    Attractive interest rates starting from 12.5% per annum for used cars. New car rates vary based on eligibility and market conditions.
  • Flexible Repayment Tenure:
    New car loans come with 12 to 60-month terms, plus an optional 5+2-year flexible structure. Used car loans allow up to 48-month tenure, depending on the car's age.
  • Customizable EMI Options:
    Offers tailored EMI plans like "Ezi-Pay EMI," where you pay only 50% of the EMI for the first six months, easing the initial financial burden. Repayment schedules can be customized based on your cash flow, ensuring affordability.
Credit Card Promotion
    • Quick and Hassle-Free Processing: Instant loan approvals are available (subject to meeting credit norms), with minimal documentation and a transparent process, ensuring you can drive your car home quickly.
    • Wide Vehicle Eligibility: - Finances both new and used cars of all makes and models (e.g., Maruti, Honda, Hyundai, Toyota, etc.), including cars up to 7 years old for used car loans.
    • Additional Financing Options: Offers loans against your existing car for personal expenses , functioning like a personal loan with the car as collateral. Top-up loans and refinancing options are available for existing customers to meet additional financial needs.
    • Insurance Support: Provides financing for fresh or renewal insurance policies, which can be bundled with monthly installments. Offers customized insurance plans, including the "Drive Assure" option covering gadgets and accessories for select brands.
    • Minimal Documentation: Requires simple and straightforward paperwork, ensuring a smooth application process for salaried individuals, self-employed persons, and businesses.
    • Convenient Application Channels: Apply online through the Indian Bank website or mobile app, or visit a branch. You can also use virtual assistants like TIA (24/7) and WhatsApp support for a seamless experience.
    • Special Benefits for Existing Customers: Loyal customers may enjoy perks like pre-approved loans, lower interest rates, or refinance options based on timely EMI payments and credit history.
Who We Are

Benefits of Bajaj Finserv Car Loan

  • High Funding Support: Get up to 100% financing on the ex-showroom price for new cars (subject to eligibility), reducing the need for a large down payment. For used cars, up to 85% of the vehicle’s value is covered, making pre-owned cars more affordable.
  • Affordable EMIs: Individuals can borrow up to ₹50 lakh for Indian vehicles and ₹100 lakh for foreign ones, while businesses can access up to ₹200 lakh—ideal for personal use or fleet expansion.
    You can finance up to 100% of the car’s on-road price, which includes the ex-showroom price, insurance, registration, taxes, and even accessories. This reduces the need for a large upfront payment.
      • Flexible Repayment: Choose repayment tenures from 12 to 60 months for new cars, with an innovative 5+2-year plan, or up to 48 months for used cars, aligning with your budget.
      • Fast and Easy Process: Quick loan approvals (sometimes instant) and minimal documentation mean less waiting and hassle, letting you drive your car sooner.
      • Wide Vehicle Coverage: Finance new or used cars of any make/model, including vehicles up to 7 years old for used car loans, giving you more choices.
      • Support for Both New and Used Cars: Financing for used cars (up to 3 years old) makes vehicle ownership affordable for budget-conscious buyers who may not want or need a brand-new car.
      • Insurance Convenience: Bundle insurance costs (fresh or renewal) into your loan, spreading payments over installments.
      • Financial Flexibility with Top-Up Loans: Access additional funds (up to 180% of the car’s value, capped at ₹47 lakhs) through refinancing or top-up options, providing a safety net for emergencies or other expenses.
      • Bundled Insurance Convenience: Option to include comprehensive insurance with EMI payments via Mahindra Insurance Brokers Ltd., simplifying vehicle protection and budgeting under one plan.
      • Empowers Rural and Semi-Urban Buyers: With a strong presence beyond metro cities, Indian Bank supports customers in smaller towns and villages, bridging the gap where banking services may be limited.
      • Wide Reach and Accessibility: Flexibility to opt for fixed EMIs or adjustable plans (e.g., step-up or reducing balance) ensures payments align with your financial growth, enhancing affordability over time.
      • Boosts Financial Planning: By spreading the cost of the car over manageable EMIs, you can maintain liquidity for other expenses or investments, rather than draining your savings on a lump-sum purchase.
      • Enhanced Buying Power: Use the BOI Car Loan EMI Calculator online to tailor the loan amount, tenure, and EMI to your financial capacity. Eligibility-based financing ensures the loan aligns with your income level.
Check Best Gold Loan Offers

Steps to Apply for a Sundaram Finance Car Loan

  1. Check Eligibility:
    • Ensure you meet basic criteria: Age (21–60 years), stable income, good credit score, and a new or used car (up to 7 years old).
    • Refer to Sundaram Finance website or branch for precise eligibility.
  2. Choose Your Loan Type:
    • Select between new car loan, used car loan, loan against car, or refinancing options.
    • Consider add-ons like insurance financing or flexible EMI plans (e.g., Ezi-Pay).
  3. Gather Required Documents:
    • Identity Proof: Aadhaar, PAN card, passport, or voter ID.
    • Address Proof: Aadhaar, utility bill, or rental agreement.
    • Income Proof:
      • Salaried: Last 3 months’ salary slips, Form 16, bank statements.
      • Self-Employed/Business: ITRs for 2–3 years, bank statements, GST registration or business proof.
    • Vehicle Documents: Proforma invoice (new car) or RC,insurance, valuation (used car).
    • Photograph: Passport-sized photos.
  4. Select Application Method:
    • Online: Visit www.sundaramfinance.in, navigate to Car Loans, fill the form, upload documents, and submit.
    • Offline: Visit a nearby branch using their locator, meet a representative, and submit your documents physically.
    • Phone Assistance: Call customer care 8885545255 to initiate the application.
  5. Loan Processing and Verification:
    • Your documents and credit history are verified.
    • For used cars, vehicle valuation may be done.
    • Additional document requests or clarifications may occur.
  6. Loan Approval:
    • Approval may be instant or take a short time post-verification.
    • Loan details (amount, tenure, interest, EMI) shared via SMS, email, or in person.
  7. Sign the Agreement:
    • Carefully read and sign the loan agreement—digitally (online) or physically (at the branch).

Eligibility Criteria for Sundaram Finance Car Loan

  • 1. Age:
    • Applicants should be between 21 and 60 years old at the time of loan application.
    • Maximum age may vary depending on loan tenure and applicant profile.
  • 2. Income:
    • Salaried Individuals: Minimum monthly income (e.g., ₹20,000 or more), stable employment for 6 months to 1 year with current employer.
    • Self-Employed Individuals: Steady annual income supported by ITRs for last 2–3 years. Threshold may vary with location and loan amount.
    • Business Owners: Proof of business existence for 2–3 years and profitability. ITRs and financial documents required.
  • 3. Credit Score:
    • Preferred CIBIL score: 700 or above for better approval chances and interest rates.
    • Lower scores may still qualify but could attract higher interest rates or need a guarantor.
  • 4. Residential Status:
    • Applicants must be Indian residents.
    • Valid address proof such as Aadhaar, utility bill, or rental agreement is required.
  • 5. Loan-Specific Requirements:
    • New Car Loan: Eligibility depends on car model and loan-to-value (LTV) ratio. Up to 85–95% of on-road price may be financed.
    • Used Car Loan: Vehicle should not be older than 5–7 years. Condition and valuation also considered.
  • 6. Documentation:
    • Identity proof (e.g., PAN card, Aadhaar, passport)
    • Address proof (e.g., utility bill, rental agreement)
    • Income proof (e.g., salary slips, bank statements, ITR)
    • Vehicle documents (e.g., dealer quotation, RC for used cars)
  • 7. Employment/Business Stability:
    • Salaried applicants should have a stable employment history.
    • Self-employed/business owners should demonstrate consistent income and business operations.
  • 8. Additional Notes:
    • Existing financial liabilities (loans or EMIs) will be assessed to determine repayment capacity.
    • Eligibility terms may vary for loans taken for personal vs. commercial use.
Check Best Gold Loan Offers

Documents Required for Sundaram Finance Car Loan

  • 1. Identity Proof (Any one of the following):
    • PAN Card (mandatory in most cases for tax purposes)
    • Aadhaar Card
    • Passport
    • Voter ID
    • Driving License
  • 2. Address Proof (Any one of the following):
    • Aadhaar Card
    • Passport
    • Utility Bill (electricity, water, or gas bill – recent, within 3 months)
    • Rental Agreement (registered)
    • Voter ID
    • Bank Statement (with address)
  • 3. Income Proof:
    • For Salaried Individuals: Latest 3 months’ salary slips, Form 16 or ITRs for last 1–2 years, Bank statement showing salary credit (3–6 months)
    • For Self-Employed Individuals: ITRs for last 2–3 years, CA-certified Profit & Loss Account and Balance Sheet, Bank statement for last 6–12 months
    • For Business Owners: Business proof (e.g., GST registration, Shop Act License, Partnership Deed), ITRs and financials for 2–3 years, Business transaction bank statements
  • 4. Vehicle-Related Documents:
    • For New Car Loan: Proforma invoice or quotation from dealer, Car details (make, model, on-road price)
    • For Used Car Loan: Registration Certificate (RC), Insurance copy, Valuation report (if needed), Invoice or sale agreement
  • 5. Photographs:
    • Recent passport-sized photographs of the applicant (usually 2–3 copies)
  • 6. Application Form:
    • Duly filled and signed Sundaram Finance Car Loan application form (available at branch or online)
  • 7. Additional Documents (if applicable):
    • Employment proof (e.g., appointment letter, employee ID card)
    • KYC documents for co-applicant or guarantor (if applicable)
    • Existing loan repayment statements (to evaluate financial liability)

Key Factors for a Sundaram Finance Car Loan

  • 1. Eligibility Criteria:
    • Age: Applicants should generally be between 21 and 60 years old (varies by loan tenure).
    • Income: Stable income required. Salaried individuals need a minimum salary (e.g., ₹20,000+), while self-employed applicants must show consistent income via ITR or financials.
    • Credit Score: A good CIBIL score (typically 700+) improves approval chances and offers better interest rates.
    • Employment/Business Stability: 6–12 months with current employer or 2–3 years in business.
  • 2. Interest Rates:
    • Fixed or Floating: Typically fixed interest rates based on profile, loan amount, and tenure.
    • Range: Usually between 8% and 15% p.a. (indicative as of 2025).
    • Creditworthiness: Higher scores lead to lower interest rates.
  • 3. Loan Amount:
    • Loan-to-Value (LTV): Up to 85–95% of the on-road price for new cars, ex-showroom price for used cars.
    • Minimum ₹1 lakh; Maximum up to ₹50 lakh or more based on income.
  • 4. Loan Tenure:
    • Ranges from 1 to 7 years (12–84 months).
    • Shorter tenure = lower interest, higher EMI. Longer = higher interest, lower EMI.
  • 5. Type of Vehicle:
    • New Cars: Higher LTV, available for personal or commercial use.
    • Used Cars: Vehicles up to 5–7 years old, slightly higher interest rates.
    • Commercial Vehicles: Additional documentation required.
  • 6. Processing Fees and Charges:
    • Processing Fee: 1–2% of the loan amount or a flat fee.
  • 7. Repayment Capacity:
    • Debt-to-Income Ratio: Ideally EMIs should not exceed 50–60% of income.
    • Income Proof: Required through salary slips, ITRs, or bank statements.
  • 8. Documentation:
    • Includes identity proof, address proof, income documents, and vehicle documents.
  • 9. Collateral:
    • The car acts as collateral (hypothecation). It may be repossessed upon default.

FAQs On Sundaram Finance Car Loan

What types of car loans does Sundaram Finance offer?
Sundaram Finance provides loans for new cars, used cars, and commercial vehicles. The terms and conditions vary depending on the vehicle type and purpose (personal or business use).
Who is eligible for a Sundaram Finance Car Loan?
Salaried individuals, self-employed professionals, and business owners are eligible. Applicants typically need to be aged 21-60 years, have a stable income, and a good credit score (e.g., 700+ on CIBIL).
What is the minimum income required to apply for a car loan?
For salaried individuals, a minimum monthly income of around ₹20,000 is often required, though this may vary. Self-employed individuals need to show consistent annual income via ITR (specific threshold depends on the loan amount).
What is the interest rate for a Sundaram Finance Car Loan?
Interest rates typically range from 8% to 15% per annum (fixed rate), depending on the applicant’s credit profile, loan tenure, and vehicle type. Exact rates as of April 2025 should be confirmed with Sundaram Finance.
How much loan amount can I get?
Sundaram Finance may finance up to 85-95% of the car’s on-road price for new cars or ex-showroom price for used cars. The maximum loan amount depends on your income, repayment capacity, and the vehicle’s value.
What is the loan tenure offered?
Loan tenure ranges from 1 to 7 years (12 to 84 months), depending on whether it’s a new or used car loan. Longer tenures reduce monthly EMIs but increase total interest paid.
What documents are required to apply for a car loan?
  • Identity proof (e.g., PAN, Aadhaar, passport)
  • Address proof (e.g., utility bill, rental agreement)
  • Income proof (e.g., salary slips, ITR, bank statements)
  • Vehicle documents (e.g., invoice for new cars, RC for used cars)
  • Additional documents may be requested based on your profile
How long does it take to process a car loan?
If all documents are in order, loan approval and disbursement can take as little as 24-48 hours. Delays may occur if additional verification is needed.
Is a down payment required?
Yes, a down payment is typically required, ranging from 5-15% of the car’s value (or more for used cars), depending on the loan-to-value (LTV) ratio offered.
Can I get a loan for a used car?
Yes, Sundaram Finance offers used car loans. The vehicle should generally be less than 5-7 years old, and additional documents like the RC and a valuation report may be required.
What are the processing fees?
A processing fee (e.g., 1-2% of the loan amount or a flat fee) is charged. Exact amounts vary, so check with Sundaram Finance for current rates.
Can I prepay or foreclose my car loan?
Yes, prepayment is usually allowed, but it may attract a penalty (e.g., 2-4% of the outstanding amount), depending on the loan agreement. Confirm the latest policy with Sundaram Finance.
What happens if I miss an EMI payment?
Missing an EMI incurs a late payment penalty (e.g., a percentage of the EMI or a flat fee). Repeated defaults could lead to repossession of the vehicle, as it’s hypothecated to Sundaram Finance.
Do I need a guarantor for the loan?
A guarantor is usually not required unless your credit profile or income doesn’t meet the eligibility criteria. This is assessed on a case-by-case basis.
How can I apply for a Sundaram Finance Car Loan?
You can apply online through their website, visit a local branch, or contact their customer care. Some dealers also facilitate applications directly.

List of Sundaram Finance Car Loans

  • Sundaram Finance New Car Loan
  • Sundaram Finance Used Car Loan (Pre-Owned Car Loan)
  • Sundaram Finance Electric Vehicle (EV) Car Loan
  • Sundaram Finance Car Loan for Agriculturists
  • Sundaram Finance NRI Car Loan
  • Sundaram Finance Top-up Car Loan
  • Sundaram Finance Loan Against Car (Car Refinance Loan)
  • Sundaram Finance Commercial Vehicle Loan
  • Sundaram Finance Luxury Car Loan
  • Sundaram Finance Insta Car Loan (Instant Approval Online)
  • Sundaram Finance Pre-approved Car Loan
  • Sundaram Finance Car Loan Balance Transfer