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  • AU Small Finance Bank Used Car Loan

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  • AU Small Finance Bank is an NBFC (Non-Banking Financial Company) that is based in Rajasthan. This company was incorporated in 1996 under the guidance of the Companies Act, 1956. It has over 218 branches in states such as Madhya Pradesh, Haryana, Maharashtra, Goa, Gujarat, Himachal Pradesh, Punjab, Delhi/ NCR, Chhattisgarh and Rajasthan. The financial services offered by this company includes commercial vehicle loan, car loan, used car loan, SME loan, loan against property, Insurance, etc. AU Small Finance Bank offers used car loans for the purchase of commercial vehicles and personal vehicles (such as cars, multi-utility vehicles, commercial vehicles (heavy and light), three wheelers, tractors, etc.).


    You’re probably eligible for an AU Small Finance Bank Used Car Loan if you are

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    AU Small Finance Bank Used Car Loan Minimum Age

    At least 21 years old

    AU Small Finance Bank Used Car Loan Maximum Age

    Less than 65 years old

    AU Small Finance Bank Used Car Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    AU Small Finance Bank Used Car Loan Minimum Income

    Earn more than the minimum
    income required


    Your AU Small Finance Bank Used Car Loan amount eligibility is based on these factors

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    AU Small Finance Bank Used Car Loan Minimum Salary

    Minimum income required
    Rs.10,000 per month

    AU Small Finance Bank Used Car Loan Maximum Loan to Value

    Loan capped @
    75% of the Ex-Showroom price of Car value

    AU Small Finance Bank Used Car Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible AU Small Finance Bank Used Car Loan amount by these steps

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    02
    AU Small Finance Bank Used Car Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    AU Small Finance Bank Used Car Loan Maximum Tenure

    Choose longer tenure loan up to 4 years


    Documentation needed to apply for an AU Small Finance Bank Used Car Loan

    • 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

    AU Small Finance Bank Used Car Loan Interest RatesUpdated on 19 Oct 2019

    AU Small Finance Bank Used Car Loan Details
    Interest Rate (Monthly reducing balance) 16%
    Processing Fees 1% of Loan Amount
    Loan Tenure 1 year to 4 years
    Pre-closure Charges 5% of principal outstanding (plus applicable tax) within 1 year. 4% (plus applicable tax) afterwards
    Guarantor Requirement No guarantor required

    Overview about AU Small Finance Bank Used Car Loan

    AU Small Finance Bank is an NBFC (Non-Banking Financial Company) that is based in Rajasthan. This company was incorporated in 1996 under the guidance of the Companies Act, 1956. It has over 218 branches in states such as Madhya Pradesh, Haryana, Maharashtra, Goa, Gujarat, Himachal Pradesh, Punjab, Delhi/ NCR, Chhattisgarh and Rajasthan. The financial services offered by this company includes commercial vehicle loan, car loan, used car loan, SME loan, loan against property, Insurance, etc. AU Small Finance Bank offers used car loans for the purchase of commercial vehicles and personal vehicles (such as cars, multi-utility vehicles, commercial vehicles (heavy and light), three wheelers, tractors, etc.).

    Features and Benefits of AU Small Finance Bank Used Car Loan

    • Provides loan for purchase of used vehicles for both personal use as well as for commercial use.
    • Used car loans for purchase of vehicles for personal loan is provided for the purchase of cars manufactured by Chevrolet - GM, Ford, Honda, Mahindra and Mahindra, Maruti Suzuki, Nissan, Renault, Tata Motors, Toyota and Volkswagen.
    • AU Small Finance Bank Used Car Loan can be availed by Salaried Individuals and Businessmen, Companies, Trusts, Firms and Self-employed.
    • Applicants can assign a co-obligor to the used car loan. The co-obligor has to be one among the following family members - parents, spouse, child, or brother. Their income will be considered while determining the income eligibility of the loan application provided.
    • The Loan-to-Value Ratio is based on the customer’s profile.

    Eligibility Criteria for AU Small Finance Bank Used Car Loan

    In order to be eligible to avail an AU Small Finance Bank Used Car Loan, applicants must meet the following guidelines:

    • Applicant must be a citizen of India.
    • He/she must fall within the age group of not less than 18 years to less than 65 years of age to avail a used car loan for the purchase of a vehicle for personal use.
    • A co-applicant is to be mentioned in the loan application who has to be one among the following family members - parents, spouse, child, or brother.
    • Residence stability is mandatory. In the case of an owned residence the applicant must have been living there for at least a year or more and if the applicant is living in a rented place then he/she must have a permanent residence proof for a period of up to 2 years.

    Documents to be provided for AU Small Finance Bank Used Car Loan

    • Landline number or Mobile number has to be provided at the time of application.
    • Valid Proof of Identity
    • Proof of Residence
    • For Salaried applicants, the Form 16 or the salary slips have to be submitted.
    • For Self-employed applicants, Balance Sheet or Income Tax Returns that has been filed has to be submitted at the time of applying for a used car loan with AU Small Finance Bank.

    EMI Calculator for AU Small Finance Bank Used Car Loan

    If you wish to purchase a used car by availing a loan from AU Small Finance Bank, you can first analyse the total cost incurred on the used car loan as well as its affordability using the online car loan EMI calculator offered by BankBazaar. This online tool provides users a detailed amortization schedule and forecast of the repayment to be made, with clear and accurate details regarding interest on the principal amount that has to be paid over a chosen loan tenure. All you have to do is provide inputs such as required loan amount, desired loan tenure, rate of interest and processing fees. The used car loan EMI calculator tool provided by BankBazaar provides reliable data based on which you can make the right decisions while applying for your AU Small Finance Bank Used Car Loan.

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