About Vehicle Loans
Loanpao’s Vehicle Loans in Delhi, India, help you finance two-wheelers or commercial vehicles with ease. Enjoy competitive rates, quick disbursal, and flexible tenures tailored to your needs.
Why Choose Our Vehicle Loan?
- Interest Rates starting at 8.5% p.a.
- Loan Amount from ₹50,000 to ₹50 Lakh
- Flexible Tenure up to 5 Years
- Up to 90% financing on vehicle cost
- Disbursal within 2-3 business days
- Minimal documentation
- Both new and used vehicles eligible
- Special rates for commercial vehicles
Are You Eligible?
| Criteria | Requirement |
|---|---|
| Age | 21-65 years |
| Income | Minimum ₹15,000/month (salaried/self-employed) |
| Employment | Minimum 1 year (salaried) or 2 years (self-employed) |
| Credit Score | 650+ preferred |
What Documents Do You Need?
- KYC: Aadhaar / PAN / Voter ID
- Income Proof: Salary slips / ITR for 2 years
- Vehicle Quotation: From authorized dealer
- Bank Statements: Latest 6 months
Attractive Interest Rates & Affordable Fees
| Bank/Lender | Interest Rate | Processing Fee |
|---|---|---|
| SBI | 8.5% p.a. | 0.5% or ₹5,000 |
| HDFC Bank | 8.75% p.a. | 0.75% or ₹7,500 |
| ICICI Bank | 9.0% p.a. | 0.75% or ₹7,500 |
| Axis Bank | 9.25% p.a. | 0.6% or ₹6,000 |
| Kotak Mahindra Bank | 9.5% p.a. | 0.75% or ₹7,500 |
| Bank of Baroda | 8.75% p.a. | 0.5% or ₹5,000 |
| Union Bank of India | 9.0% p.a. | 0.5% or ₹5,000 |
| Punjab National Bank | 8.75% p.a. | 0.5% or ₹5,000 |
| IDFC FIRST Bank | 9.25% p.a. | 0.6% or ₹6,000 |
| Yes Bank | 9.75% p.a. | 0.75% or ₹7,500 |
| NBFCs (Bajaj Finance) | 10.0% p.a. | 1.0% or ₹10,000 |
| Co-operative Banks | 8.5% p.a. | 0.5% or ₹5,000 |
Extra Charges:
- Late Payment Charges: 2% p.m. on overdue amount
- Prepayment Charges: 3% on outstanding amount (if prepaid within 1 year)
- GST: Applicable on processing fees
Note: Rates and fees are indicative as of April 2025 and subject to change.
Calculate Your EMI Instantly
Enter values and click Calculate EMI to see results.
How to Apply for a Vehicle Loan
- Complete the online application with personal and vehicle details.
- Submit KYC, income proof, and vehicle quotation.
- Undergo verification of documents and credit history.
- Review and accept the loan offer.
- Complete vehicle registration and insurance formalities.
- Receive funds within 2-3 business days.
Common Questions About Vehicle Loans
What is a Vehicle Loan?
A Vehicle Loan helps finance the purchase of two-wheelers or commercial vehicles, repayable through EMIs.
Who can apply for a Vehicle Loan?
Salaried or self-employed individuals aged 21-65 with a minimum income of ₹15,000/month.
What is the maximum loan amount?
Up to ₹50 Lakh, covering up to 90% of the vehicle cost.
How long does disbursal take?
Funds are disbursed within 2-3 business days after approval.
Can I prepay the loan?
Yes, prepayment is allowed with a 3% charge if done within the first year.
Are used vehicles eligible?
Yes, both new and used vehicles are eligible, subject to valuation.
What is the repayment tenure?
Up to 5 years, with flexible repayment options.
Are there special offers?
Yes, waived processing fees and cashback for loans above ₹10 Lakh.
What documents are needed?
KYC, income proof, vehicle quotation, and bank statements.
What happens if I default?
The lender may repossess the vehicle to recover the outstanding amount after due notice.