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  • Sundaram Car Finance is Rated as "Great!" by 420 Users
    Car Loan BYTES FROM OUR KITCHEN
    rated 4.0/5.0 by 420 users

    Sundaram Car Finance

    Sundaram Finance Ltd. is a trusted finance company under the Sundaram Finance Group that offers finance on all makes and models of cars ensuring attractive rates of interest, no hidden costs, and a quick and hassle-free process. Sundaram Finance assures its customers of transparency in their transactions. They also provide customized products for women and senior citizens.


     

    You’re probably eligible for Sundaram Car Finance if you are

    01
    02
    03
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    Sundaram Car Finance Minimum Age

    At least 21 years old

    Sundaram Car Finance Maximum Age

    Less than 65 years old

    Sundaram Car Finance Eligible Employment Type

    Salaried or self-employed
    with regular income

    Sundaram Car Finance Minimum Income

    Earn more than the minimum
    income required


     

    Your Sundaram Car Finance amount eligibility is based on these factors

    01
    02
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    Sundaram Car Finance Minimum Salary

    Minimum income required
    Rs. 2.5L Per Annum

    Sundaram Car Finance Maximum Loan to Value

    Loan capped @
    85% of the ex-showroom price

    Sundaram Car Finance EMI

    EMIs of other loans lower
    your eligibility


     

    Increase your eligible Sundaram Car Finance amount by these steps

    01
    02
    Sundaram Car Finance Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    Sundaram Car Finance Maximum Tenure

    Choose longer tenure loan up to 5 years


     

    Documentation needed to apply for an Sundaram Car Finance

    • 1. Residence proof
    • 2. Photo ID and age proof
    • 3. Signed application form with photograph
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

     

    Sundaram Car Finance Interest RatesUpdated on 26 Feb 2018

    Sundaram Car Finance Details
    Interest Rate (Monthly reducing balance) 8.75%
    Processing Fees Rs.3500
    Loan Tenure 1 year to 5 years
    Pre-closure Charges 3% of principal outstanding
    Guarantor Requirement No guarantor required

    Sundaram Car Loan Eligibility

    Sundaram Car Loan is available to:

    • Individuals – Salaried, Professionals and Businessmen.

    • Proprietorship

    • Partnerships Concerns

    • Public/Private Limited Companies

    • Salaried employees need to have completed 3 years of cumulative service.

    • Age eligibility for salaried is 21 to 55 years, for professionals it is 21 to 65 years.

    Apply for Car Loan Online

    Sundaram Car Finance Documentation Required

    Individuals and Proprietorship requirements:

    1. One passport-sized photograph

    2. Identity Proof – Valid passport, photo credit card, PAN card, Driving license, Patta passbook with photo, Ration card or Voter’s ID.

    3. Address Proof - Valid passport, Lease agreement in force, Driving license, House tax challan, Housing Society bill, Electricity bill, Phone bill, Water tax challan, Life insurance premium receipt, Ration card or Voter’s ID.

    4. Asset Proof – House tax/Water tax challan, Patta copy, Housing Co-op Society bill, Sale deed of property.

    5. Any of the following proof of income must be produced.

    a. Last two months salary slip, Form 16 and latest IT returns.

    b. Last 2 years IT returns

    c. Audited P&L and balance sheet.

    d. Previous year’s IT returns along with current year’s provisional.

    1. Last 6 months bank statements

    2. Signature proof

    3. Post-dated cheques or Electronic clearing service is required for the full period.

    For partnerships, the partnership deed, asset and income proof needs to be submitted.

    For companies, the Memorandum of Association and Articles of Association is required, along with the signature proof.

    Additional requirements for used cars:

    • The car should be in the name of the company/individual availing the loan.

    • The hire purchase endorsement in Sundaram’s name should be in the RC book.

    • The car along with the original invoice or attested copy of the invoice must be available.

    • Comprehensive Insurance cover is necessary for a value acceptable to the company.

    Loan Amount and Tenure

    Type

    Funding

    New cars Up to 95%
    Used Car Up to 60% of the assessed value

    For used cars, the maximum finance period is 36 months, which depends on the model and age of the car. The age of the car including the finance period is a maximum of 5 years.

    Interest

    Interest is calculated on a flat rate basis and variables of the customer concerned.

    Sundaram Car Finance Features and benefits

    • Minimum waiting period.

    • Hassle-free process.

    • Low EMIs.

    • Attractive rates of interest.

    • Customized insurance options.

    • Imported cars are considered on a case-to-case basis.

    • NRIs can avail finance subject to approval from the RBI.

    • Money on wheels: A pre-approved loan on your existing car loan at attractive interest rates. If timely repayment is maintained on the existing car loan, Sundaram Finance Ltd. extends a loan at rates of interest much lower than other personal loans.

    How to Calculate EMI for Sundaram Finance Car Loan

    The Sundaram Finance Car Loan Calculator lets you calculate your EMIs in easy steps. With just basic inputs such as the loan amount, desired tenure, interest rate and processing fee(percentage), you can ascertain your EMI amount plus elaborate breakup in the form of the amortisation chart. A highly recommended tool which helps you extensively in preparing for a car loan from Sundaram Finance.

    Sundaram Car Finance FAQs

    I have already applied for a can loan, can I switch dealers?

    Yes, you can switch provided the payment has not been made yet.

    Does the finance cover car accessories?

    No. It covers only standard fittings.

    What is the procedure for prepayment and are there any charges?

    Sundaram Car Loan prepayment is usually not considered, but under special request, the loan can be foreclosed with the payment of penalty as per the agreement.

    Is there any procedure following the normal closure of the loan?

    After the last EMI and any other fees are paid, termination papers will be issued which comprise of the hire purchase termination letter, no objection letter addressed to the RTO, and insurance endorsement cancellation letter.

    How can I check the status of my loan?

    Statements of the Sundaram Car Loan Status will be issued to you upon request. You could also call the Sundaram customer care or send in your queries on the company website.

    Can I apply for a Sundaram Car Loan online?

    The Sundaram website does not have the option of applying online for a car loan yet. You could visit a Sundaram branch, or submit your queries or request a call from them on the Sundaram website, or apply on our website!

    How long does it take for a loan to be sanctioned?

    After the submission of all required documents, the approval is normally given within one working day.

    Can the contract be altered?

    Yes, you can request for the contract to be altered in terms of amount of finance and tenure. A supplemental agreement will have to be executed.

    Are there any service charges?

    No, but there are stamp fees depending on the place of execution of the contract. However, following the implementation of GST on 1st July, 2017, additional charges may be applicable on car loans offered by Sundaram Car Finance.

    Sundaram Finance Car Loan Offer February 2018

    With a hike in car prices last month across the top carmakers in the Indian market, more consumers are opting for auto finance from banks this year. If you are looking for a new car or a pre-owned car, apply for a low-interest rate car loan to purchase a car of your choice. Sundaram Finance offers new and used car loans at competitive interest rates for most makes and models of cars. Women and senior citizens can get special discounts on car loans at Sundaram Finance. What’s more, the car loan application, verification and disbursal processes are not only simple but also hassle-free.

    BankBazaar Finance Mega Mela Offer on Sundaram Finance Car Loan 2018

    BankBazaar has tied-up with Amazon to bring you a special offer on car loans this February. Benefit from the Finance Mega Mela program by BankBazaar on Sundaram Finance car loans from 1st to 28th February 2018. Apply for a car loan online through the BankBazaar website or the BankBazaar mobile app and get an Amazon gift card worth Rs.5,000 on disbursal of your car loan. All disbursed car loan cases till 30 April 2018 are eligible for the offer.

    How to apply for the BankBazaar Finance Mega Mela Offer on Sundaram Finance car loans?

    • Visit the BankBazaar website (www.bankbazaar.com) or the BankBazaar Mobile App and apply for a car loan from Sundaram Finance.
    • Click on the 'Get Quote' button in the Sundaram Finance car loan section of the website. You will get a car loan quote within just 30 minutes of requesting a quote.
    • If your car loan application is accepted and the loan amount is disbursed, then you will get an Amazon gift card worth Rs.5,000 via email to the email ID provided by you at the time of car loan application.
    • Visit the Amazon website or the Amazon mobile app to login and redeem the gift card. Enter the gift card code and click on the 'Add to your account' button. The balance will be added to your Amazon account instantly.

    Terms and Conditions of BankBazaar Finance Mega Mela Offer

    • The BankBazaar Finance Mega Mela Offer on car loan is effective from 1 February 2018 to 28 February 2018.
    • Get an Amazon gift voucher worth Rs.5,000 on the disbursal of your car loan on or before 30 April 2018.
    • This offer is valid for one order per car loan for a customer during the Finance Mega Mela program period.
    • The Amazon gift voucher will be sent to you within 45 working days of disbursal of the car loan. If you haven't received the gift voucher within 45 working days, you can write to BankBazaar at support@bankbazaar.com or call +914466511800.
    • Redemption of the gift voucher is as per the terms and conditions of Amazon.
    • Applicants must be 18 years or above at the time of submitting their car loan applications. He or she must meet the car loan eligibility criteria set by Sundaram Finance. The approval or rejection of a car loan application is solely in the hands of the lender.

    Sundaram Car Finance Reviews

    • Sundaram Finance Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a car loan with Sundaram Finance and my loan experience was very good. The loan amount was for Rs 2 lakhs with the rate of interest of 15% which is nominal when compared to other sources. The process was very smooth and the tenure of this loan is 18 months. Customer service was good and they followed up on time. Overall it was a good service from Sundaram Finance.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jan 25, 2018
    • Sundaram Finance Car Loan
      "Good sevice"
      0.5 5.0/5 "Blown Away!"
      My car loan is on going with Sundaram Finance. I have completed 13 months and the total period is 5 years. I have purchased a i10 brand. The customer service and response was good. They offered the expected the amount. I have to pay monthly 10,480 rupees through ECS.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 19, 2018
    • Sundaram Finance Car Loan
      "Car loan from Sundaram Finance"
      0.5 4.0/5 "Great!"
      I have taken a car loan from Sundaram Finance. The approved loan amount was 5 lakhs 30 thousand with a rate of interest was almost 12.5% The monthly EMI is 13800 for a tenure of 4 years It took almost around 10 to 15 days for the approval, too much of documents
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 02, 2018
    • Sundaram Finance Car Loan
      "Average service"
      0.5 1.0/5 "Really Bad"
      It was a fine experience with sundaram for my car loan service the process was was very slow they took very long time to process also the interest rate they quote me was 9.54 which was high compare to others in the market it was good service from sundaram for my car loan service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 24, 2017
    • Sundaram Finance Car Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      Sundaram finance car loan service was good they given some time for me to submit the documents for the loan process but I was been engaged with my personal issues so I unable to process further with my loan process it was the main reason for cancellation of my loan process with sundaram finance.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 24, 2017
    • Sundaram Finance Car Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      It was a fine experience with sundaram for my car loan service ,I have some personal reasons so I was unable to process further with my loan process so I postponed my loan request for next year the interest rate they quoted me was also good compare to others in the market it was totally a good service from sundaram car loan service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 24, 2017
    • Sundaram Finance Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have applied for the car loan from Sundaram Finance, my loan application was closed because i have taken the car loan from other bank. Customer service part wad very good, they followed up on time and their response was good. The rate of interest was nominal when compared to other banks.
      Was this review helpful? 0
      , jaipur
      Reviewed on Nov 22, 2017
    • Sundaram Finance Car Loan
      "Good customer service"
      0.5 4.0/5 "Great!"
      I have applied for the car loan from Sundaram Finance, my loan application was closed because i have taken the car through cash payment. When it comes to customer service, it was good and their response was also good, regular follow ups was done. The rate of interest is littile high when compared to other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 22, 2017
    • Sundaram Finance Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The service was good with sundaram for my car loan service the interest rate they offered me was fine I had some personal issues so I was unable to pay my loan properly so this turn had impacted my credit score., On the other hand, The documentation part was easy it was an average service that I received from Sundaram.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 22, 2017
    • Sundaram Finance Car Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      I have postpone the car loan plan at present , So that was the reason I haven't got the car loan with sundaram finance. The sudaram finance gave good response , immediately they have call back and they have explained the product and the rate of interest which they have offered me was average when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 16, 2017
    • Sundaram Finance Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have dropped the car plan at present so that was the reason I haven't got the car loan with Sundaram finance. The customer support was good with the sundaram finance. Already I had got a car loan experience with sundaram finance, they gave me better service, but the rate of interest is high with Sundaram finance when compared with other financial organizations or banks, it would be great if they reduce their interest rates.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 16, 2017
    • Sundaram Finance Car Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have requested for a car loan form Sundaram finance.The loan amount is three lakhs.Rate of interest is 11% very high compared to other banks.The reason for closing the application is i have arranged funds from a different source. Otherwise the bank service is good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 16, 2017
    • Sundaram Finance Car Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      The customer service is good from the SUNDARAM FINANCE for the car loan i applied for . The executive of SUNDARAM FINANCE delivered all the Information i required for the process . I changed my plan so i canceled the process . Rest everything was good from the SUNDARAM FINANCE side .
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 15, 2017
    • Sundaram Finance Car Loan
      "NOT HAPPY"
      0.5 1.0/5 "Really Bad"
      I am not at all happy with the experience i received from SUNDARAM FINANCE they did not give full approval , only they gave approval for 60% . Customer service was also not good or i can say it could have been more better . There was a delay in the process They made me wait for 2 to 3 days and while that time i changed my plan , therefore i cancelled the loan application .
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 15, 2017
    • Sundaram Finance Car Loan
      "Good"
      0.5 4.5/5 "Excellent!"
      I have approached SUNDARAM FINANCE for my car. The loan amount was 6.5 lakhs and the interest rate was 9.35% which was bit high than other banks in the market. The processing fee was 5000 and they have sanctioned the loan with the committed time. My overall experience was good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 11, 2017
    • Sundaram Finance Car Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I have my car loan with SUNDARAM FINANCE. The loan process was very easy and I have taken 6 lakhs. The interest rate was 9.5% which was bit high than other banks in the market. They have provided door step service for collecting documents and sanctioned the loan with the committed time. My overall experience was good.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 10, 2017
    • Sundaram Finance Car Loan
      "Better"
      0.5 4.0/5 "Great!"
      I had applied my car loan application with Sundaram Finance through online channel. It was a proper followup. The customer service and response was good. ROI is nominal when compared to other banks. I had postponed my plans and they closed my application. I would like to go with them in future.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 10, 2017
    • Sundaram Finance Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I had applied for a car loan with Sundaram finance.The loan amount is 4.5 lkhs.Rate of interest was not shared by the bank. I closed the application because i purchased car by cash.I would not recommend as did not get the product from the bank.
      Was this review helpful? 0
      , bhopal
      Reviewed on Nov 10, 2017
    • Sundaram Finance Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      It was a very fast process with SUNDARAM for my car loan service they disbursed the loan amount within three days and the documents were collected from my door step and the interest rate was 10.49% which is fine compare to other banks and to conclude it was good experience with SUNDARAM for my car loan service.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 10, 2017
    • Sundaram Finance Car Loan
      "Prompt services & high on ROI"
      0.5 5.0/5 "Blown Away!"
      Since I postponed the plans of taking a car loan as I have some other commitments. I did not go ahead with Sundaram finance for the same. I received a proper response from them and they informed me the details. The rate of interest is high. It is around 10%.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 10, 2017
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