Renault is one of the biggest automobile manufacturers in the world and cars manufactured by the company are very popular in India. Renault started its operations in India through its subsidiary, Renault India Pvt Ltd., in 2005. Over the years, Renault has been liked and appreciated by people around the country. Renault Finance is the financial arm of Renault that helps car enthusiasts own the Renault car that they desire.
Renault Finance offers innovative, smart and practical solutions to those who need financial assistance to purchase a Renault vehicle. If you are someone who loves Renault cars, you will surely benefit from the services offered by the financial arm of Renault. With presence in 36 countries, Renault Finance offers a vast range of financial products to its clients while taking care of their car financing needs.
The eligibility criteria for Renault Finance car loan are as follows.
You should be aged 21 and above when you apply for the loan.
You should be aged 60 years or below when the tenure of the loan ends.
You should have minimum 2 years of work experience.
You should have been employed with your current employer for a minimum of 1 year.
Your annual income should be a minimum of Rs 2.50 lakhs.
You should have a landline or a postpaid mobile connection in your name.
You should be aged 25 years and above when you apply for the loan.
You should be aged 65 years or below when the tenure of the loan ends.
You should have been in business for a minimum period of 3 years.
Your yearly profits must be a minimum of Rs 1.50 lakhs after tax deductions.
You should have a landline or a postpaid mobile connection in your name.
The documents required for applying for a Renault Finance car loan are as follows.
Identity proof: Copy of Passport, PAN card, Aadhar card, Voter’s ID, Driving License and legible, recent and laminated MNREGA issued job cards.
Income proof: Form 16 and payslips for the last 2 months.
Address proof: Copy of Passport, Voter’s ID, Aadhar card, Driving License, PAN letter and legible, recent and laminated MNREGA issued job cards.
Last 6 months' bank statements
ID card issued by your employer
Identity proof: Copy of Passport, PAN card, Aadhar card, Voter’s ID, Driving License and legible, recent and laminated MNREGA issued job cards
Income proof: Income Tax Returns (ITR) for the last 2 years.
Address proof: Copy of Passport, Voter’s ID, Aadhar card, Driving License, PAN letter and legible, recent and laminated MNREGA issued job cards
Last 6 month’s bank statements
Registration certificate of your business issued by State or Central Government authorities
The interest rate charged for Renault Finance car loans depends on a variety of factors and it is divulged to the buyer after processing their loan application. The interest rate will depend on your credit history, the car you opt for, tenure of the loan and other factors. Depending on the interest rate and the loan amount, the EMIs for the loan will be calculated.
The car loan from Renault Finance offers you the flexibility of opting either for a standard loan or credit with Buy Back facility.
The loan comes with add-on products such as Credit Shield, Extended Warranty, Motor Insurance and Accessories.
The insurance policy is issued instantly and comes with faster turnaround times for settlement and repairs.
The process of applying for a car loan with Renault Finance is very simple and the processing time of the loan is very less as well.
The loan is offered exclusively to people who want to purchase any of the cars manufactured and sold by Renault India.
The loan comes with a repayment tenure ranging between 12 months – 60 months.
Before applying for a car loan with Renault Finance, it will be a good idea to calculate the amount of money that you need to pay as monthly instalment for the loan. There are tools called EMI calculators that can be used to calculate EMIs with ease and get a fair understanding of the total cost of borrowing. You can access a car loan EMI calculator on BankBazaar.com to calculate the EMI amount for your car loan from Renault Finance. This will help you to plan your finances effectively and make sure that you do not miss any of your EMI payments.
The different cars manufactured and sold by Renault India are as follows:
Hatchback and Sedan
Multi-Purpose Vehicle (MPV)
Crossover and SUV
Renault Finance provides car loans for all of these vehicles manufactured by Renault India.
1. How can I check the status of my Renault Finance car loan application?
You can check the status of the loan by contacting the customer service team of Renault India.
2. Can I apply for Renault Finance car loan to purchase cars made by other automobile companies?
No, you can only apply for a car loan from Renault Finance to purchase a car made by Renault.
3. Is there any motor insurance provided along with Renault Finance car loan?
Yes, motor insurance called Renault Insurance is provided as an add-on with Renault Finance car loan.
4. How can I get in touch with the customer care team of Renault Finance?
You can get in touch with the customer care helpdesk of Renault Finance by calling at 1800-3004-4444. You can also email the customer care team at email@example.com.
5. What is the maximum repayment tenure offered with car loans from Renault Finance?
Renault Finance car loans come with a maximum repayment tenure of 60 months or 5 years.
6.What is the age limit for Renault Finance for salaried employees?
Salaried employees within the age group 21 years to 60 years can apply for a car loan under Renault Finance. Please note that the loan tenure should selected in a way that the loan gets repaid before the borrower turns 60.
7. What is the age limit for Renault Finance for self-employed individuals?
Customers who are self-employed can apply for a car loan through Renault Finance if they are a minimum of 25 years old and a maximum of 65 years old during the time the loan tenure ends.
8. Does the car loan through Renault Finance offers any additional benefits to customers?
Yes, there are a number of additional benefits that come when a customer opts for a the car loan through Renault Finance such as Extended Warranty, Accessories, Motor Insurance, and Credit Shield.
9. What should be the minimum income for salaried persons to be eligible for Renault Finance?
Salaried individuals applying for a Renault Finance Car Loan should have a net annual income of Rs.2.50 lakh or above along with a minimum work experience of 1 year at the present organisation.
10.What is the income criteria for self-employed persons in order to be able to get a Renault Finance Car Loan?
In order to be eligible for a car loan through Renault Finance, customers who are self-employed should have a stable business for at least 3 years and must have a minimum of Rs.1.50 lakh of yearly profits.
11.What is the minimum and maximum amount of loan I can withdraw using Renault Finance?
There is no maximum or minimum cap in terms of the loan amount in Renault Finance Car Loan. Customers can use this financing scheme to purchase any Renault car of their dreams. The eligible loan amount is determined by checking the repayment capacity of the applicant.
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