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Vehicle Loan
Easy & 100% online application
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Quick approval & disbursement
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Competitive rate of interest
Scan this QR code to apply for multiple loans with attractive interest rates!
Get a Vehicle Loan up to 50 Lakhs
What is a Vehicle Loan?
As its name indicates, a vehicle loan is meant to provide money for the purchase of a vehicle. A vehicle loan is a secured loan as the purchased vehicle acts as collateral with the bank that provided the loan. The car stays as collateral until the borrower repays the entire loan amount. A vehicle loan allows the borrowers to get finance for a range of vehicles like cars, SUVs, MUVs, LUVs, trucks, and others.
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Features and Benefits of InvestKraft’s Vehicle Loan
Opting for a vehicle loan through InvestKraft is a win-win deal as you get to buy your dream vehicle quickly and easily. Are you looking to buy a vehicle on finance? Choose a vehicle loan through InvestKraft that comes at attractive interest rates and easy repayment terms. Be it an individual vehicle or a commercial one, our vehicle loan has been designed to help you pursue your dream of buying a vehicle in the easiest possible way. There are numerous benefits and features that come along with our vehicle loan. We have highlighted some of the major advantages associated with vehicle loan below:
100% Digital Loan Application
In today’s fast-forward digital landscape, taking a vehicle loan through InvestKraft is super simple as our process is 100% online and user-centric. Just download the InvestKraft app and apply for a vehicle loan today.
Minimal Documentation
You don’t need to furnish a ton of documents to avail of a vehicle loan through InvestKraft. We believe in making the loan amount simpler and quicker when it comes to availing a loan for any kind of vehicle purchase. Upload a few documents and expect to get faster approval on your loan application.
Affordable Interest Rates
Say yes to reliable and affordable vehicle loans with our lower interest rates charged. Don’t expect to get a vehicle loan at steep interest rates as we endeavour to make credit not just easier but affordable too. Our vehicle loan comes at nominal interest rates.
Faster Approval
You can apply for a vehicle loan with InvestKraft anytime, anywhere and we make no delay in assessing your application and approving if everything falls on your side. Our vehicle loan approval process is fully digital and the loan amount will be transferred to your bank account in no time.
Higher loan amount
As vehicle prices have been going up and up, we usually provide a higher loan amount to our borrowers than our competitors. You can easily take a vehicle loan of up to Rs. 20 lakh from InvestKraft given your profile. So, whatever vehicle you wish to buy, you can get it done without worrying about money.
No Prepayment Penalty
You can easily choose to prepay your pending loan amount without facing any kind of penalty amount. This makes InvestKraft’s vehicle loan an easy affair in all aspects of vehicle purchase.
Who can apply for a Vehicle Loan?
Companies or individuals running logistics, delivery, or taxi businesses can leverage vehicle loans to expand their fleets.
Entrepreneurs, freelancers, and small business owners can utilize vehicle loans to buy vehicles for business or personal use.
People buying their first car or two-wheeler can use vehicle loans to fulfill their aspirations affordably.
Seniors looking to buy vehicles for convenience or leisure can opt for vehicle loans tailored to their needs.
Individuals employed in the private or government sector with stable incomes can use vehicle loans to purchase personal or family vehicles without draining their savings.
Agricultural workers can use vehicle loans to purchase tractors or other utility vehicles essential for farming activities.
Those starting their careers or studying can use vehicle loans to purchase two-wheelers for daily commuting.
Instant Personal Loan For All Your Needs
Choose from our specially curated personal loans for every need, like vehicle, shopping, travel, wedding and others.
Eligibility Criteria and Documents for Vehicle Loans
Want to avail of a vehicle loan through InvestKraft? Check out the eligibility criteria below along with the required documents for loan processing.
For Salaried People
- Min age of the applicant: 18 years
- Max age of the applicant (At loan Maturity): 70 years/retirement age whichever is earlier.
- Min. Monthly Income of Rs.12,000/-
- Income proof: Salary Slip, Form 16/ ITR, Bank statement showing salary credit
For Self-employed Individuals
- M Min age of the applicant: 18 years
- MMax age of the applicant: (At loan Maturity): 70 years
- MMin. 2 years in the profession
- MMin. Annual Income of Rs.2,50,000/-
- MIncome proof: for the Last 2 years with computation of income / certified financials, Balance Sheet, P & L A/c, Bank statement
Documents
- Age Proof : Aadhaar Card, PAN Card, Driving license, LIC Policy, PAN Card.
- Address Proof : Passport, Driving license, Voter ID card, Telephone Bill / Electricity Bill, Title deed of property / Rental Agreement, Employee letter, ITR / Form 18
- Identity Proof : Passport, PAN Card, Election ID card, Driving License, Aadhaar Card, Employers ID Card
- Income Proof : Latest 3 months’ salary slips; Form 16/ ITR for last 2 years; Bank Statement showing salary credits for 6 months
Now Get a Vehicle Loan Online
Apply in 4 Easy Steps
Your dreams matter to You and Us. We strive to ensure our every user gets the required online Vehicle loan on priority.
Apply Vehicle Loan
2 Gather Your Documents
Get all the paperwork ready.
3 Submit Your Application
Fill out the application form and upload your documents.
4 Wait for Approval
The lender will review your application and let you know if you are approved.
Interest Rates & Charges
Vehicle loan interest rates in India and the other related charges are not the same. They vary based on factors such as the banks, lender, amount of loan, tenure, applicant's credit score, and the type of vehicle (new or used).
Here's an overview of the interest Rate & Other Charges as of December 31, 2024:
| Interest rate |
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|---|---|
| Processing Charges | HDFC Bank: Up to 1% of the loan amount, with a minimum of ₹3,500 and a maximum of ₹9,000 |
| Pre-closure charge | HDFC Bank: pre-closures within 1 year 6%; ICICI - 2% for loan seasoning between 13 to 24 months & 3% for loan seasoning up to 12 months |
| Bounce charges | ICICI - ₹ 500 + applicable GST and so on charges vary with other lenders |
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Low Rates. Fast Approval. Easy Repayment Options.
Frequently asked questions
Yes, InvestKraft provides quick and affordable vehicle loans for both personal and commercial vehicles.
The maximum tenure for a vehicle loan could be 7 years.
At InvestKraft, many lenders provide up to 100% funding for vehicle purchases so you can rest assured about getting the best vehicle loan offer with us.
Digital Journey
Lower Interest Rates
Easy Documentation Process