Loan against car
Get a personal loan against your car for up to 200% of its value to achieve your financial goals
Loan against car
Get a personal loan against your car for up to 200% of its value to achieve your financial goals
Get a loan against your vehicle
Access funds without selling your car
Get quick funds by using your vehicle as collateral. LOANS24 provides competitive interest rates and flexible repayment terms. You retain ownership of your car while enjoying the benefits of our financing.
Features & benefits of loan against car
Explore how a loan against car can provide you easy funds:
Features & benefits of loan against car
Explore how a loan against car can provide you easy funds:
Quick approval
Receive swift loan approval in minutes
Flexible tenures
Choose convenient EMI options spanning up to six years
Lowest interest rates
Enjoy competitive interest rates starting at 11.49%* p.a
Fully digital process
Complete digital process for seamless operations
24x7 availability
Apply for your loan anytime, we’re available round the clock
Car stays with you
You retain ownership of your car while enjoying the benefits of our financing
Minimal paperwork
Say goodbye to the hassles of paperwork
Loan against car EMI calculator
Plan your monthly EMI better:
Loan against car eligibility criteria
How to apply for a loan against car?
Follow these simple steps to complete your loan application process:
Documents required to get loan against car
Below are the documents you need to submit to complete your loan application:
Identity proof
- PAN card (mandatory)
- Aadhaar card/ Driver’s licence/ Voter ID/ Passport
Address proof
- Aadhaar/ Passport /Voter ID/ Driver’s licence/ Utility bills/Passport/ Notarised rent agreement
Income proof (Optional)
- 6 months’ bank statement
- 3 months’ salary slips or equivalent business proof
Vehicle documents
- Registration certificate (RC)
Loan against car interest rate & charges
At LOANS24, we offer loans against your car with competitive rates, extended tenures, and fully transparent processing fees. Here’s a breakdown of our fees and charges:
| Types of fee | Applicable Charges |
|---|---|
| Interest rates | 11.49% p.a. onwards |
| Processing Fees | Upto 5% of loan amount |
| Pre-Closure Charges | Flat 5% of the outstanding loan amount |
| Loan cancellation charges | Upto Rs. 5000/- per instance In case of event of cancellation, interest charges will be borne by the customer. Processing fees, stamp duty, Documentation, Valuation and RTO charges are non-refundable charges and would not be waived/refunded in case of loan cancellation. Loan cancellation is allowed within 15 days from the date of loan disbursal. |
| Penal Charges on default of repayment | Rs. 10 per day of the overdue loan amount i.e. EMI due but not paid (per instance) |
| Bounce | Rs. 1,000/- per instance |
| Late Payment charges | Rs. 250/- per instance |
| Statement of Account Charges | Rs. 500/- ( If requested again in the same month) |
| Bureau Report Charges | Rs. 100/- per instance |
| Non Objection Certificate upon Loan Closure | Rs. 1,000/- per instance |
| No Objection Certificate for conversion from Petrol to LPG/CNG & vice-versa thereof | Rs. 5,000/- per instance |
| Any Duplicate NOC | Rs. 1000/- per instance |
| RTO Charges | RTO charges shall be charged by the Lender's Business Partners only |
| Collection Visit Charges | Rs. 500/- per instance |
| Legal Notice Charge | Rs. 5000/- per instance |
| Arbitration Charges | Rs. 10000/- |
| Repossession Charges | Rs. 25000/- |
| Blacklisting charges | Rs 20,000 |
| Pre-Closure Letter Charges | Rs. 500 per instance |
| Car Valuation / Inspection Fees | Upto Rs. 1000/- |
| Documentation Fees & Stamp duty charges | Upto Rs. 5,000/- |
| Loan insurance charges | As per actuals |
| Motor insurance charges | As per actuals |
| Car Health Monitor (“CHM”) Charges | Upto Rs. 10,000/- |
| Financial Wellness report | Upto Rs. 15000/- |
| Annual Maintenance contract charges | As per actuals |
| Assured Buyback cover charges | As per actuals |
| Extended Warranty charges | As per actuals |
For any other charges and modifications in the charges list, kindly refer to the Lender’s webpage. The above is exclusive of all applicable taxes, statutory fees, government charges and any other charges as fixed by the regulators. The Lender or the Service Providers have the exclusive right to amend the charges from time to time with due disclosures to customers.
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Loan against car FAQs
What is the minimum credit score required for a loan against a car?
In which cases can my loan against my car application be rejected?
What factors affect your loan against car EMI?
What is the salary required to be eligible for a loan against a car?
What is a good interest rate for a loan against car?
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