Sundaram Car Finance

The different fees and charges that are levied by Sundaram Finance in case you avail a car loan are mentioned below:

Offers for Existing Customers

Existing customers are offered the below-mentioned benefits;

1. Personalised services are provided.

1. Credit is readily available.

1. Monthly payments are affordable.

1. The documentation process is simple.

1. Attractive interest rates are offered.

1. Up to Rs.7 lakh may be offered as a loan.

1. Refinance is offered on an existing car.

How to Calculate EMI on Sundaram Finance Car Loan

Many factors are considered when calculating the Equated Monthly Instalments (EMIs) of a car loan. Some of the main factors that are considered are mentioned below:

1. Rate of interest
2. Loan amount
3. Loan tenure

The car loan calculator provided by BankBazaar can be used to calculate the EMI. The process to use the calculator is very simple. You will have to enter basic details such as processing fee, rate of interest, tenure, and loan amount to get the EMI.

Eligibility Criteria

The eligibility criteria that must be met in order to avail a car loan from Sundaram Finance are mentioned below:

1. Salaried employees and self-employed individuals can avail the loan.
2. Partnership firms, private companies, and public companies can opt for the car loan.
3. Salaried employees must be between the ages of 21 years and 55 years when they apply for the loan.
4. Self-employed individuals must be between the ages of 21 years and 65 years when they apply for the loan.
5. Salaried employees must have at least 3 years of work experience.
6. In the case of used cars, the car cannot be more than 7 years old.

Documents for Sundaram Car Finance

The documents that must be submitted by salaried employees and self-employed individuals will be different. Additional documents will need to be submitted in case you wish to avail a used car loan. The list of documents that must be submitted by salaried employees and self-employed individuals are mentioned below:

Car Loan for Salaried Employees

1. Passport-size photo
2. Know Your Customer (KYC) documents
3. Bank Statement: Last 6 months
4. Income Proof: Form 16 or last 3 months' salary slip
5. Repayment Mode: Full PDCs, Direct Debit, or NACH
6. Proof of Asset: Either Housing Co-op Society bill, sale deed copy, Patta copy, or house tax challan can be submitted as asset proof.

Used Car Loan Options

The below-mentioned documents must be submitted by salaried employees in case they wish to avail a used car loan:

1. Valuation report
2. Copy of insurance
3. Copy of Registration Certificate

Car Loan for Self-Employed Individuals

1. Passport-size photo
2. Know Your Customer (KYC) documents
3. Bank Statement: Last 6 months
4. Income Proof: Income Tax Returns for the last two years. An audit report must also be submitted.
5. Repayment Mode: Full PDCs, Direct Debit, or NACH
6. Proof of Asset: Either Housing Co-op Society bill, sale deed copy, Patta copy, or house tax challan can be submitted as asset proof.

Used Car Loan

The below-mentioned documents must be submitted by self-employed individuals in case they wish to avail a used car loan:

1. Valuation report
2. Copy of insurance
3. Copy of Registration Certificate

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