If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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    Sundaram Finance

    We found 2 Sundaram Finance

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.50% - 11% Fixed
    2,500 One time fee
    1L Min
    1-5 Years Tenure
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    12% - 14% Fixed
    2,500 One time fee
    1L Min
    1-3 Years Tenure
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria

    Sundaram Finance is Rated as "Great!" by 184 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Car Loan BYTES FROM OUR KITCHEN

    Overview

    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
    04
    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
    03
    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 23 May 2017

    Sundaram Car Finance Details
    Interest Rate (Monthly reducing balance) 9.50% to 11.00%
    Processing Fees Rs.2500
    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 Diwali Offers

    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.

    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.

    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.

    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.

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  • Sundaram Car Finance Reviews

    • Sundaram Finance Car Loan
      "Services are good. But high on processing fee"
      0.5 5.0/5 "Blown Away!"
      After I applied for a car loan with Sundaram finance the services was good. They were responsive and they kept me informed about the details. The rate of interest was of 9.6% and it was a reasonable rate for me. The processing charges was on the higher side.
      Was this review helpful? 0
      , indore
      Reviewed on May 19, 2017
    • Sundaram Finance Car Loan
      "Dissatisfied service"
      0.5 1.0/5 "Really Bad"
      Sundaram finance executive came and collected the documents from my place, after that there was no response. After two days of documents submission I called their executive he was ready to update the status but no revert from them. Interest rate is also very high they are charging 10% and with processing fee of 1 to 2% on the car loan product.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 19, 2017
    • Sundaram Finance Car Loan
      "Satisfactory"
      0.5 3.0/5 "Satisfactory"
      I had applied for a car loan with Sundaram Finance and I am not happy with the services I received. They where asking me to give two garenter for the card, I said I cant give If i give llike that How will sell my car in future and the rate of intrest was also high so that is why did not prcessed further
      Was this review helpful? 0
      , akola
      Reviewed on May 18, 2017
    • Sundaram Finance Car Loan
      "Its Better"
      0.5 4.0/5 "Great!"
      I have purchased MARUTI SUZUKI WAGON R LX worth Rs. 4.72 lakhs it is an ex showroom price, Sundaram finance sanctioned only the loan of Rs.3.5 lakhs with the tenure of four years and they charged the interest 9.6%. Sundaram Finance gave part and foreclosure option.
      Was this review helpful? 0
      , sonipat
      Reviewed on May 18, 2017
    • Sundaram Finance Car Loan
      "The service is good"
      0.5 5.0/5 "Blown Away!"
      My car loan had been approved by Sundaram Finance without any challenges. Even they provided a very good response. The rate of interest is somewhere around 9.25% which is quite good. Whenever I approached their customer service I got good response as well.
      Was this review helpful? 0
      , bhimavaram
      Reviewed on May 15, 2017
    • Sundaram Finance Car Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      I have taken the loan of 7 lakhs with the interest rate of 9.5% but it is higher side compared to other competitor. Processing fee is good they just taken Rs.2000 from the disbursed amount everything is good. If they reduce the interest rate based on credit score of the customer that would be better.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 15, 2017
    • Sundaram Finance Car Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      Interest rate is pretty good with Sundaram Finance for the car loan. Even I did not have any issues with Sundaram while processing the loan. Customer service is kind of good and approachable. Their overall service is good and it was easy to avail the loan.
      Was this review helpful? 0
      , nizamabad
      Reviewed on May 15, 2017
    • Sundaram Finance Car Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      It was a very good process at Sundaram finance for the car loan, because there was a outlet opened at my location itself. The team was swift in the services and the disbursement was also done on time. The rate of interest was around 9% and the processing charges was normal too.
      Was this review helpful? 0
      , udumalaipettai
      Reviewed on May 15, 2017
    • Sundaram Finance Car Loan
      "Nice service"
      0.5 4.0/5 "Great!"
      Service provided by sundaram finance is good. Executive called and came on time. Documents were collected from home and loan got disbursed in very easy manner. Doubts were cleared in very excellent way. They provided what they committed. But the negative aspect is processing fees and insurance value which is little bit higher
      Was this review helpful? 0
      , hoshangabad
      Reviewed on May 10, 2017
    • Sundaram Finance Car Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have approached Sundaram finance for my car loan. Within 3 days of time my car loan amount got disbursed with Sundaram Finance. The rate of interest is nominal with them. The documentation process went smooth and easy. Overall it is very good service in concern to my car loan application with Sundaram finance.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on May 10, 2017
    • Sundaram Finance Car Loan
      "Good "
      0.5 3.0/5 "Satisfactory"
      Sundaram finance limited had not contacted me for the car loan after I had confirmed my requirement . Interest rate was lesser one with them and there was no revert from them after I confirmed my requirement to them. As of now, I would like to say that they need to provide the feedback to the customer.
      Was this review helpful? 0
      , mysore
      Reviewed on May 09, 2017
    • Sundaram Finance Car Loan
      "Interest rate has to be reduced"
      0.5 4.0/5 "Great!"
      I haven't finalized the car due to some personal reason, Hence there was no requirement to take car loan from Sundaram Finance, I am happy with their service they called and gave loan information. If suppose I am going for their car loan, I would ask them to reduce their interest rate.
      Was this review helpful? 0
      , nagpur
      Reviewed on May 09, 2017
    • Sundaram Finance Car Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      Sundaram finance was very good at their response and follow up Customer support was fine with Sundaram Finance and the process was also good with them but Rate of interest was around 9.15% which was a bit high so opted the loan through other resources.
      Was this review helpful? 0
      , jodhpur
      Reviewed on May 08, 2017
    • Sundaram Finance Car Loan
      "Very Good service"
      0.5 5.0/5 "Blown Away!"
      Sundaram finance gave very good response in concern to my car loan application. The rate of interest and the charges are nominal with Sundaram Finance. The reason I haven't got the loan with Sundaram finance is I got the loan wit Indusind bank , because I am a exiting customer to Indusind. I am impressed with Sundaram Finance service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 08, 2017
    • Sundaram Finance Car Loan
      "Good Service"
      0.5 2.0/5 "Expected more"
      The response and the follow was very good with Sundaram finance in concern to my car loan application. The initial payment was not ready, that was the reason, I haven't got the loan with Sundaram finance. The rate of interest is also nominal with Sundaram finance .
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 08, 2017
    • Sundaram Finance Car Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I had applied for a car loan with Sundaram finance, but I don't have interest to take up the loan right away, so I have postponed the plan, that was the reason I haven't got the car loan with Sundaram finance. The response and the follow up was good with Sundaram Finance. The rate of interest is nominal with them.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on May 08, 2017
    • Sundaram Finance Car Loan
      "Better "
      0.5 4.0/5 "Great!"
      Sundaram finance limited have contacted me for the car loan, which I have applied. Response was fine with the Sundaram finance limited, also they have reverted me immediately. In the mean time , I got the offer with some other bankers for the best offers.
      Was this review helpful? 0
      , vijayawada
      Reviewed on May 08, 2017
    • Sundaram Finance Car Loan
      "Not Satisfactory"
      0.5 2.0/5 "Expected more"
      Since I dropped my idea in taking the car loan. I did not go ahead with Sundaram Finance for the loan. The team was also not supportive in giving me details to the queries I had. They were high on the interest rate and processing charges too. They need to be more professional.
      Was this review helpful? 0
      , indore
      Reviewed on May 08, 2017
    • Sundaram Finance Car Loan
      "Good In Response"
      0.5 4.0/5 "Great!"
      I had no issues with Sundaram Finance when I approached them for a car loan. Actually I submitted my car loan application through online source. Sundaram provided a good assistance for my application but all of a sudden I had to postponed my plan. Hence I closed my loan application.
      Was this review helpful? 0
      , ujjain
      Reviewed on May 08, 2017
    • Sundaram Finance Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Sundaram Finance properly worked on my car loan application. They used to call at regular intervals regarding my car loan application and they were very prompt in processing my application. But I arranged the required money and bought the car so I just cancelled my loan application with them.
      Was this review helpful? 0
      , vellore
      Reviewed on May 08, 2017
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