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  • Sundaram Car Finance is Rated as "Great!" by 428 Users

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    Car Loan BYTES FROM OUR KITCHEN
    rated 4.0/5.0 by 428 users

    Sundaram Car Finance

    About Sundaram Finance Group

    Established in 1954, Sundaram Car Finance is a leading non-banking financing company that was founded to help customers receive financial support while purchasing a passenger car or commercial vehicle. The company went public in 1972, and got enlisted in the Madras Stock Exchange during the same year. In January 1998, Sundaram Car Finance was enlisted under the National Stock Exchange. With approximately 623 branches across the length and breadth of the country along with numerous awards under its belt, the company currently serves a wide client base and helps them realise their dream of purchasing a car.

    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

    Earning more than the minimum
    required income.


     

    Your Sundaram Car Finance amount eligibility is based on these factors

    01
    02
    03
    Sundaram Car Finance Minimum Salary

    Minimum required income
    is Rs.2.5 lakh

    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 25 Sep 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.

    6. Last 6 months' bank statements

    7. Signature proof

    8. 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 85% of the purchased price or assessed value under the report of SF Panel surveyor - whichever is lower

    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 10 years for Hyundai, Honda, Toyota, and Maruti cars, and 8 years for cars from other manufacturers.

    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 a rate 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.

    How to Calculate Your Sundaram Finance Car Loan EMI through BankBazaar

    BankBazaar offers a Car Loan EMI Calculator in its website wherein you can check the amount of monthly installments you will have to pay. By checking your EMIs beforehand, you will be able to manage your finances better, thereby, reducing your chances of defaulting. To calculate your car loan EMI, all you will have to do is enter a few details such as loan amount, fixed interest rate, and repayment tenure. Using these details, the Car Loan EMI Calculator available at BankBazaar.com can calculate your EMI quickly and accurately.

    See the steps mentioned below to learn how you can calculate the EMI amount of your car loan using the Car Loan EMI Calculator available at BankBazaar.com:

    • Visit the homepage of BankBazaar’s official website
    • Click on ‘Finance Tools’ on the menu available on the main page
    • Select ‘Car Loan EMI Calculator’ from the options available
    • Next, enter the loan amount and tenure by moving the scales available on the EMI calculator page
    • Enter the applicable interest rate along with the processing fee
    • If you wish to avail the option for prepayment, click on the ‘Yes’ button under ‘Would you like to make Pre-payments?’ and fill out the required details in the short form that pops up below
    • If you do not wish to opt for the prepayment option then choose the ‘No’ button under ‘Would you like to make Pre-payments?’
    • Then, click on ‘Calculate’ to generate your quote for EMI based on the details that you have entered

    In addition to the EMI calculation, the Car Loan EMI Calculator also provides a detailed breakup of the total amount that should be paid by the customer along with an amortization table to understand how the loan will progress throughout the tenure. Using this tool, you can also adjust the loan amount and tenure to change the EMI amount according to your repayment capability. Once you choose the right plan, you apply for the car loan directly through BankBazaar.

    Why You Should Apply for a Sundaram Finance Car Loan Through BankBazaar

    BankBazaar is a financial services portal where you can check and compare all the financing options available in the market and choose the one that fits your requirements and situation. While providing reliable information through a user-friendly interface, the company aids customers learn about the numerous financial products available in the market and find the best rates along with any ongoing offers.

    • Customers can get all the information collated at one place pertaining the Sundaram Car Finance so that they can check whether they are eligible for a loan under the scheme or not.
    • You can get the lowest possible rates as well as special offers & discounts that are not available anywhere else, when you apply for a car loan through the company.
    • If you are looking for a car loan while purchasing the car of your dreams, you can view and compare all the options available in the market through BankBazaar and choose the best one that suits your needs.
    • In order to help customers make the right choice regarding their financial product, BankBazaar offers objective and impartial information and transparent procedures.
    • If you want to learn how much EMI you will have to pay towards a car loan amount for a predetermined period of time, you can use the car loan EMI calculator available online and check it yourself wherever you are at any time of the day.
    • Customers have the freedom to choose a plan according to their situation, need, and capability by adjusting the loan amount, tenure, and interest rate in the EMI calculator.
    • Since the company promotes paperless transactions, applying for a vehicle, personal, or home loan through BankBazaar is a hassle-free process. You will receive the funds you need without having to do any of the legwork.
    • BankBazaar respects the privacy of its customers. Therefore, you can be assured that any personal information that you provide to the customer care team or at the website will be treated with utmost confidentiality. The company doesn’t share any information with a third-party entity at any cost, apart from the respective lender.

    Sundaram Car Finance FAQs

    Can I get a personal loan from Sundaram Car Finance using my car?

    Yes, Sundaram Car Finance offers an additional personal loan to customers who have been extremely punctual with the repayment of their car loan. This scheme is known as Money on Wheels wherein customers can get a pre-approved loan on the purchased car in order to meet their temporary personal financial crisis. This loan has a number of advantages and can be availed for a maximum tenure of 36 months.

    • Best rates of interest in the market
    • Amount of EMI as less as Rs.3,415
    • Short waiting periods
    • Zero-hassle loan processing and approval
    • Quick disbursal of funds

    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 August, 2017, additional charges may be applicable on car loans offered by Sundaram Car Finance.

    Sundaram Finance Car Loan Offer September 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 Super Duper Deals on Sundaram Finance Car Loan 2018

    BankBazaar has tied-up with Amazon to bring you a special offer on car loans this September. Benefit from the Super Duper Deal program by BankBazaar on Sundaram Finance car loans from 1st to 30th September 2018. Apply for a car loan online through the BankBazaar website or the BankBazaar mobile app and get an Amazon gift card worth Rs.2,500 on disbursal of your car loan. All disbursed car loan cases till 30th September 2018 are eligible for the offer.

    How to apply for the BankBazaar Super Duper Deals 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.2,500 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 Super Duper Deals

    • The BankBazaar Super Duper Deals on car loan is effective from 1st September 2018 to 30th September 2018.
    • Get an Amazon gift card worth Rs.2,500 on the disbursal of your car loan on or before 30th September 2018.
    • This offer is valid for one order per car loan for a customer during the Super Duper Deal 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 card 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!"
      My experience with Sundaram Finance for car loan was very good, the process was smooth and i received my loan amount on time. Customer service was good and they responded on time. The tenure period for this loan is 4 years but i preclosed the loan in 1.5 years. I have to pay interest for 4 years as preclosure charges.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 19, 2018
    • Sundaram Finance Car Loan
      "Good overall"
      0.5 5.0/5 "Blown Away!"
      I am happy with the services of Sundaram finance. I have taken my car loan from them. Since I am a privileged customer, they have offered me a good deal on the loan. The rate of interest was normal and there were no processing charges. The after loan services is good too.
      Was this review helpful? 2
      , hyderabad
      Reviewed on May 29, 2018
    • Sundaram Finance Car Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have got the car loan with the SUNDARAM FINANCE and this loan has the tenure of 3 years . I have got this loan around a year. I have got the requested loan amount from the Sundaram finance. The customer support service and the response is good with the Sundaram finance.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 28, 2018
    • Sundaram Finance Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I've taken a Car Loan for 3 Lacs from Sundaram Finance for a tenure of 5 Years. I pay a monthly EMI of 8500. Most of the time I make payments online. The application process was so fast and also the documentation process. I got the loan with in 5 days of the application.
      Was this review helpful? 1
      , pune
      Reviewed on May 09, 2018
    • 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 good, the rate of interest was high when compared to all other sources in the market. The process was smooth and i received my loan amount on time. The tenure period for this loan is 5 years and the customer service was good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 25, 2018
    • Sundaram Finance Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My car loan experience with Sundaram Finance was very good, the process was smooth and i received my loan amount on time. The loan amount was for Rs 6 lakhs with the nominal rate of interest when compared to other sources. Customer service was good and they responded on time. My loan amount was based on the ex-showroom price and the tenure of this loan is 3 years.
      Was this review helpful? 0
      , thane
      Reviewed on Mar 07, 2018
    • Sundaram Finance Car Loan
      "Response needs to improve"
      0.5 3.0/5 "Satisfactory"
      There was certain issue with documents that was submitted. They didnt reply me at all. There was some issue with address proof. There process needs quite a lot of improvement. We haven't discussed any terms about the Loan at all. Their system might have been better.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 01, 2018
    • Sundaram Finance Car Loan
      "Good Loan"
      0.5 5.0/5 "Blown Away!"
      I got a Grant i10 car recently and this financiers helped me with the required Loan amount. They have charged me an 8.25% interest rate on the Loan, a pretty standard one. The proces happened quickly. The ECS transaction happens smoothly. Customer was great and process was also pretty sharp.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Feb 25, 2018
    • 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? 1
      , 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
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