Overview of Vehicle Loan in Bawal, Rewari
Bawal, Rewari, a growing industrial town in Haryana, offers vehicle loans to finance cars, two-wheelers, and commercial vehicles. Vehicle loans in Bawal, Rewari for 2025 provide financing with interest rates starting at 7.00% p.a. Lenders like SBI, HDFC Bank, and Bajaj Finance 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 disbursals within 2–5 days.
Eligibility Criteria for Vehicle Loan in Bawal, Rewari
| Criteria | Details |
|---|---|
| Age | 21 to 65 years |
| Income | Minimum ₹15,000/month (salaried) or ₹2 lakh/year (self-employed) |
| Employment | 1 year for salaried, 2 years for self-employed |
| Residence | Valid Bawal, Rewari address proof |
| Credit Score | 700+ preferred; lower scores may qualify with higher rates |
Documents Required for Vehicle Loan in Bawal, Rewari
- Identity Proof: Aadhaar, PAN Card, Passport, or Voter ID.
- Address Proof: Utility bill, Aadhaar, or rental agreement (Bawal, Rewari address).
- Income Proof: Salary slips (3 months), ITR (2 years), or bank statements.
- Vehicle Documents: Proforma invoice or quotation from dealer.
- Photograph: Recent passport-size photograph.
Benefits of Vehicle Loan in Bawal, Rewari
- Loan amounts up to ₹50 lakh for cars, two-wheelers, or commercial vehicles.
- Competitive interest rates starting at 7.00% p.a. in 2025.
- Flexible repayment tenures up to 7 years for affordable EMIs.
- Fast disbursal within 2–5 days post-approval.
- Financing up to 90% of the vehicle’s on-road price in Bawal, Rewari.
Factors Affecting Vehicle Loan in Bawal, Rewari
Interest Rate
Rates range from 7.00% to 12% p.a., based on credit score, income, and vehicle type.
Loan-to-Value (LTV) Ratio
Up to 90% of the vehicle’s on-road price, depending on lender policies.
Credit Score
A score of 700+ ensures better rates; lower scores may increase costs.
Repayment Tenure
Longer tenures (up to 7 years) reduce EMIs but increase total interest.
How to Apply for a Vehicle Loan in Bawal, Rewari
Follow these steps to apply for a vehicle loan in Bawal, Rewari through Loanpao:
- Visit loanpao.in and select "Vehicle Loan in Bawal, Rewari."
- Fill out the online application form with details (name, Bawal, Rewari address, income).
- Upload required documents (Aadhaar, income proof, vehicle quotation).
- Compare offers from top Bawal, Rewari lenders like SBI, HDFC, and Bajaj Finance.
- Get approval and funds disbursed within 2–5 days.
Loan Eligibility for Vehicle Loan in Bawal, Rewari
Check your eligibility for a vehicle loan in Bawal, Rewari with Loanpao’s tool:
- Enter your age (21–65 years).
- Provide income details (₹15,000/month salaried or ₹2 lakh/year self-employed).
- Include your Bawal, Rewari residence details for localized offers.
- Specify vehicle type (car, two-wheeler) and loan amount needed (up to 90% of on-road price).
Loanpao will assess your eligibility and suggest the best vehicle loan offers in Bawal, Rewari.
Check Eligibility NowTrack Your Vehicle Loan Application in Bawal, Rewari
Loanpao provides a seamless tracker for your vehicle 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.
Vehicle Loan Comparison in Bawal, Rewari
Compare vehicle loan offers from top lenders in Bawal, Rewari:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| SBI | 7.00% p.a. | Up to ₹50 lakh | Up to 7 years | 0.5% of loan amount |
| HDFC Bank | 7.50% p.a. | Up to ₹40 lakh | Up to 7 years | 0.4% of loan amount |
| Bajaj Finance | 8.00% p.a. | Up to ₹25 lakh | Up to 5 years | 1% of loan amount |
Frequently Asked Questions
Vehicle loans in Bawal, Rewari can finance cars, two-wheelers, and commercial vehicles.
Vehicle loans in Bawal, Rewari are disbursed within 2–5 days after approval.
The maximum loan amount is up to ₹50 lakh, depending on the vehicle’s on-road price and LTV ratio.
A credit score of 700+ is preferred, but lower scores may qualify with higher interest rates.
Missing an EMI may incur late fees, and prolonged default may lead to vehicle repossession.
Yes, many lenders in Bawal, Rewari offer vehicle loans for used cars, subject to vehicle age and condition.