Overview of Car Loan in NIT 86, Faridabad

Car Loans in NIT 86, Faridabad enable you to purchase new or used cars in 2025. Loanpao partners with top lenders to offer Car Loans with interest rates starting at 9% p.a., loan amounts up to ₹20 lakh, and tenures up to 7 years for residents of NIT 86.

Experience a streamlined application process with approvals within 2–5 days in NIT 86, Faridabad.

Eligibility Criteria for Car Loan in NIT 86, Faridabad

Qualify for a Car Loan in NIT 86, Faridabad with these criteria:

Criteria Details
Age 21–60 years
Income Minimum ₹20,000 monthly (salaried/self-employed)
Credit Score 650 or higher
Employment Minimum 1 year (salaried) or 2 years (self-employed)
Residence Resident of NIT 86, Faridabad

Check your eligibility instantly using Loanpao’s online tool for a seamless application.

Documents Required for Car Loan in NIT 86, Faridabad

Submit these documents to apply for a Car Loan:

  • Identity Proof: Aadhaar Card, PAN Card, Voter ID.
  • Address Proof: Utility bill, rental agreement for NIT 86, Faridabad.
  • Income Proof: Salary slips (3 months), ITR (2 years), bank statements (6 months).
  • Employment Proof: Employment certificate or business registration for self-employed.
  • Car Details: Proforma invoice or quotation from the dealer.
  • Photograph: Recent passport-size photo.

Loanpao offers doorstep document collection in NIT 86 for your convenience.

Benefits of Car Loan in NIT 86, Faridabad

Explore the advantages of choosing Loanpao for Car Loans in NIT 86:

  • Competitive interest rates starting at 9% p.a. in 2025.
  • Loan amounts up to ₹20 lakh for new or used cars.
  • Flexible repayment tenures up to 7 years.
  • Quick approval within 2–5 days.
  • Financing up to 100% of the car’s on-road price.
  • Support for both new and used car purchases in NIT 86.

Drive your dream car with Loanpao’s Car Loans.

Factors Influencing Car Loan Approval in NIT 86

Credit Score

A score of 650+ ensures better eligibility and competitive rates.

Income Stability

Consistent income (₹20,000/month) improves approval chances.

Employment History

At least 1 year (salaried) or 2 years (self-employed) strengthens your application.

Debt-to-Income Ratio

A ratio below 50% is preferred for approval.

Verify your eligibility with Loanpao’s eligibility checker today.

How to Apply for a Car Loan in NIT 86, Faridabad

Follow these steps to apply for a Car Loan with Loanpao:

  1. Visit loanpao.in and select “Car Loan NIT 86, Faridabad.”
  2. Complete the online form with personal and income details.
  3. Upload required documents (identity, income, car details).
  4. Schedule doorstep document pickup in NIT 86, Faridabad.
  5. Receive approval and funds within 2–5 days after verification.

Check Car Loan Eligibility in NIT 86, Faridabad

Assess your Car Loan eligibility instantly with Loanpao:

  • Enter personal and income details in the online tool.
  • Provide proof of residence in NIT 86, Faridabad.
  • Submit income documents, car details, and credit score for verification.

Loanpao ensures a smooth approval process in NIT 86. Start with our eligibility checker.

Check Eligibility Now

Track Your Car Loan Application in NIT 86

Monitor your Car Loan application status with Loanpao’s tracker:

  • Enter your application ID on the Loanpao Tracker page.
  • Receive real-time updates (e.g., under review, approved, disbursed).
  • Get notifications for verification steps in NIT 86, Faridabad.
  • Contact our support team for assistance.
Track Application Now

Compare Car Loans in NIT 86, Faridabad

Explore top Car Loan options in NIT 86, Faridabad for 2025:

Lender Interest Rate Loan Amount Tenure Processing Fee
SBI 9% p.a. Up to ₹20 lakh Up to 7 years 0.5%–1%
HDFC Bank 9.5% p.a. Up to ₹15 lakh Up to 6 years Up to 1.5%
ICICI Bank 10% p.a. Up to ₹12 lakh Up to 5 years Up to 2%

Compare and apply with Loanpao to secure the best Car Loan in NIT 86.

Frequently Asked Questions About Car Loans in NIT 86

Individuals aged 21–60 with a minimum monthly income of ₹20,000, a credit score of 650+, and at least 1 year (salaried) or 2 years (self-employed) of work experience are eligible.

Interest rates start at 9% p.a., varying by lender and credit profile.

Approval and disbursal typically take 2–5 days after document verification.

The car itself serves as collateral for the loan.

The maximum tenure is up to 7 years, depending on the lender and applicant’s profile.

Yes, Loanpao offers an online application process with doorstep document pickup in NIT 86.

Yes, Loanpao offers Car Loans for both new and used cars in NIT 86.

Loan amounts can reach up to ₹20 lakh, depending on income and car value.

Missing an EMI may incur penalties and negatively impact your credit score, with potential repossession of the car.

Yes, Loanpao partners with RBI-regulated lenders for secure and reliable Car Loans.