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


    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

    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

    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

    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 17 Dec 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 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

    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



    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 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.

    Sundaram Car Finance


    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.

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