Choose the bank or financial institution where the loan is being taken.

Prepare documentation for applying: Identity and Address Proof.

Get loan approval from Bank

Get a direct transfer of loan amount to your bank account

Income Proof – ITR, Salary Slip, Form 16, etc.

KYC Documents

Identity Proof:

• PAN Card
• Passport
• Driving Licence
• Aadhaar card
• Form 16 if a PAN card is not available. 
• Voter ID card
• Two passport-size photographs

Address Proof:

• Recent Electricity bill
• Recent Landline Bill
• Passport photocopy
• Demat Account or Bank Statement
• Rent Agreement
• Aadhar Card
• Driving license

Can be used to improve your credit score.

If the vehicle is for business, it can help grow your business or increase income.

Allows you to own a vehicle when you require it, whilst you still pay for it.

You can use your savings for other purposes. Paying back a vehicle loan does not take up a lot of EMI from monthly income, as compared to a home or infrastructure loan.

Vehicle Loans could be tax-deductible if the purchase were made under a company name.