Overview of Car Loan in Bawal, Rewari
Bawal, Rewari, a growing industrial and residential hub in Haryana, offers residents access to car loans for purchasing new or used vehicles. Car loans in Bawal, Rewari for 2025 provide financing with interest rates starting at 7.50% p.a. Lenders like HDFC, ICICI, and Axis Bank offer loans up to ₹50 lakh with tenures up to 7 years. Loanpao helps Bawal residents compare offers, check eligibility, and apply online for quick approvals to drive their dream car.
Eligibility Criteria for Car Loan in Bawal, Rewari
| Criteria | Details |
|---|---|
| Age | 21 to 65 years |
| Income | Minimum ₹20,000/month (salaried); stable business income (self-employed) |
| Employment | Salaried (1 year experience) or self-employed (2 years business continuity) |
| Credit Score | Minimum 650; higher scores improve terms |
| Residence | Valid Bawal, Rewari address proof |
Documents Required for Car Loan in Bawal, Rewari
- Identity Proof: Aadhaar, PAN Card, Driving License, Passport, or Voter ID.
- Address Proof: Utility bill, Aadhaar, or rental agreement (Bawal, Rewari address).
- Income Proof: Salary slips (last 3 months), bank statements (last 6 months), ITR (last 2 years for self-employed).
- Vehicle Documents: Proforma invoice, car quotation, or RC (for used cars).
- Photograph: Recent passport-size photograph.
Benefits of Car Loan in Bawal, Rewari
- Loan amounts up to ₹50 lakh for new or used cars.
- Competitive interest rates starting at 7.50% p.a. in 2025.
- Flexible repayment tenures up to 7 years.
- Quick disbursal within 3–7 days post-approval.
- Financing up to 90% of the car’s on-road price in Bawal, Rewari.
Factors Affecting Car Loan in Bawal, Rewari
Interest Rate
Rates range from 7.50% to 12% p.a., based on credit score, income, and lender policies.
Loan Amount
Up to ₹50 lakh, depending on income, car value, and repayment capacity.
Credit Score
A score above 650 ensures better rates; lower scores may increase costs.
Car Type
New cars often get lower rates; used cars may have slightly higher rates in Bawal, Rewari.
How to Apply for a Car Loan in Bawal, Rewari
Follow these steps to apply for a car loan in Bawal, Rewari through Loanpao:
- Visit loanpao.in and select "Car Loan in Bawal, Rewari."
- Fill out the online application form with details (name, Bawal, Rewari address, income).
- Upload required documents (Aadhaar, income proof, car quotation).
- Compare offers from top Bawal, Rewari lenders like HDFC, ICICI, and Axis.
- Get approval and funds disbursed within 3–7 days in Bawal, Rewari.
Loan Eligibility for Car Loan in Bawal, Rewari
Check your eligibility for a car loan in Bawal, Rewari with Loanpao’s tool:
- Enter your monthly income (minimum ₹20,000).
- Provide your credit score (preferably above 650).
- Specify your employment type (salaried or self-employed).
- Include your Bawal, Rewari residence details and car details for localized offers.
Loanpao will assess your eligibility and suggest the best car loan offers in Bawal, Rewari.
Check Eligibility NowTrack Your Car Loan Application in Bawal, Rewari
Loanpao provides a seamless tracker for your car loan application:
- Submit your application ID on the Loanpao Tracker page.
- Get real-time updates on status (e.g., under review, approved, disbursed).
- Receive notifications for disbursal updates in Bawal, Rewari.
- Contact Loanpao support for assistance with delays in Bawal, Rewari.
Car Loan Comparison in Bawal, Rewari
Compare car loan offers from top lenders in Bawal, Rewari:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| HDFC | 7.50% p.a. | Up to ₹50 lakh | Up to 7 years | 0.5–1% of loan amount |
| ICICI | 7.75% p.a. | Up to ₹40 lakh | Up to 6 years | 0.99–1.5% of loan amount |
| Axis Bank | 8.00% p.a. | Up to ₹35 lakh | Up to 5 years | 1% of loan amount |
Frequently Asked Questions
A minimum monthly income of ₹20,000 is required for a car loan in Bawal, Rewari.
Car loans in Bawal, Rewari are disbursed within 3–7 days after approval.
The maximum loan amount is up to ₹50 lakh, depending on income, car value, and repayment capacity.
Yes, car loans for used cars are available in Bawal, Rewari, with slightly higher rates than new cars.
Missing an EMI may incur late fees and negatively impact your credit score.
Up to 90% of the car’s on-road price can be financed, depending on the lender and your eligibility.