Vehicle Loan

Always dreamed of driving home your dream car but couldn’t? Well, here’s your chance, Bargain Loans offers quick and flexible vehicle loans. We understand the need of owning a car in today’s world and hence provide hassle-free vehicle loans. We provide new vehicle loans as well as used car loans, tailor made to each one’s requirement. We also offer convenient repayment options and flexible car loan interest rate.

Apply for a vehicle loan from Bargain Loans and drive home the vehicle that you have always desired, as we provide speedy loan processing at attractive interest rates payable at tenure of up to 7 years!

Vehicle Loan
  1. Finance options for wide range of cars
  2. Attractive interest rates
  3. Tailored made finance schemes
  4. Speedy loan processing
  5. Tenure Upto 7 years

 

Disclaimers:

Bargain Loans offers Vehicle loan of Bargain Loans to its customers. These vehicle loan offerings come with easy processing and flexible schemes. Bargain Loan is a subsidiary of Bargain Loan. Loan available at select locations. Credit at sole discretion of Bargain Loan and subject to guidelines issued by RBI from time to time. Conditions apply.

NoFees
  • All Indian residents.
  • Minimum income of Rs. 15000 per month.
  • Minimum residence stability of 1 year.
  • Minimum employment stability of 1 year.
  • Age minimum 21 years.

Salaried Concerns
KMPL App. Form duly filled by you
Latest Salary Slip showing statutory deductions
Form 16 / IT Returns
Proof of Residence
(copy of electricity / telephone bill / Passport / Voter’s ID / Lease deed / Rent agreement copy / Property Registration Document in the name of the Customer)
Signature
Verification from your Banker / Voters ID / IT PAN card / IT Return / Driving License / Passport
Photograph
(one signed by the customer)

Self Employed Firm
KMPL App. Form duly filled by you
Proof of Residence
(copy of electricity / telephone bill / Passport / Voter’s ID / Lease deed / Rent agreement copy / Property Registration Document in the name of the Customer)
Signature
Verification from your Banker / Voters ID / IT PAN card / IT Return / Driving License / Passport
Computation of Income for the last 2 years certified by CA
P&L A / C and B / S for the last 2 years certified by CA
Copies of Income Tax Returns for the last two years
Photograph
(one signed by the customer)

Proprietary
KMPL App. Form duly filled by you
Proof of Residence
(copy of electricity / telephone bill / Passport / Voter’s ID / Lease deed / Rent agreement copy / Property Registration Document in the name of the Customer)
Signature
Verification from your Banker / Voters ID / IT PAN card / IT Return / Driving License / Passport
Computation of Income for the last 2 years certified by CA
P&L A / C and B / S for the last 2 years certified by CA
Copies of Income Tax Returns for the last two years
Photograph
(one signed by the customer)

Partnership
KMPL App. Form duly filled by you
Proof of Residence
(copy of electricity / telephone bill / Passport / Voter’s ID / Lease deed / Rent agreement copy / Property Registration Document in the name of the Customer)
Signature
Verification from your Banker / Voters ID / IT PAN card / IT Return / Driving License / Passport
Computation of Income for the last 2 years certified by CA
P&L A / C and B / S for the last 2 years certified by CA
Copies of Income Tax Returns for the last two years
Partnership Deed / Trust Deed
Letter of Authority
MOA and Board Resolution authorising one director to execute the agreement.

Companies
KMPL App. Form duly filled by you
Proof of Residence
(copy of electricity / telephone bill / Passport / Voter’s ID / Lease deed / Rent agreement copy / Property Registration Document in the name of the Customer)
Signature
Verification from your Banker / Voters ID / IT PAN card / IT Return / Driving License / Passport
Computation of Income for the last 2 years certified by CA
P&L A / C and B / S for the last 2 years certified by CA
Copies of Income Tax Returns for the last two years
MOA and Board Resolution authorising one director to execute the agreement.

Charges & Fees
Cheque Dishonour Charges per Cheque 750
Prepayment interest outstanding 5.21% + service tax
Issue of Duplicate copy of Agreement / Duplicate NOC / NOC for Duplicate Registration Certificate 750
Issue of Duplicate Security Deposite Receipt per Receipt 250
Cancellation of Contract (other than foreclosure and prepayment interest) at specific request of the Borrower and agree by the Lender 2000
Delayed Payment / Late Payment Charges / Compensation / Additional Finance Charges (Monthly) 3%
Collection Charges for non PDC cases (per cheque) for non-payment on due date 500
PDC swap Charges 500 per swap
Repayment Schedule / Account Outstanding Break up statement 250
LPG / CNG NOC 2000
Statement of Account 500
NOC for Interstate Transfer 1000
NOC for Commercial to personal use 2000
Dishonour charges per instance 750
NOC to convert from private to commercial 5000 (Subject to approval)

Who can avail of KMPL new car loans?

  • Salaried individuals in the age group of 21 to 58 years (at the end of the tenure)
  • Self-employed individuals in the age group of 21 to 65 years (at the end of the tenure)
  • Partnership Firms and LLPs.
  • Public & Private Ltd. companies
  • HUFs and Trusts
  • Free Net Banking, Mobile Banking and Phone Banking

Salaried Individuals

Eligibility Criteria:

  • Minimum age of Applicant: 21 years
  • Maximum age of Applicant at loan maturity: 58 years
  • Minimum Income of Rs. 15000 per month
  • Minimum employment of 12 months

Documents required:

  • Proof of Identity:- Passport copy, PAN Card, Voters Id car, driving licence( Laminated, Recent, Legible)
  • Income Proof: Latest salary slip with Form 16.
  • Address Proof: Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card
  • Salary Bank Statement

Self Employed

Eligibility Criteria:

  • Minimum age of Applicant: 21 years
  • Maximum age of Applicant at loan maturity: 65 years
  • Minimum employment: At least 1 year in business

Documents required:

  • Proof of Identity: Passport copy, PAN Card, Voters Id car, driving licence(Recent, Legible)
  • Income Proof: Income Tax Returns of 2 previous financial years
  • Address Proof: Ration card/Driving licence/Voters card/passport copy/telephone bill/electricity bill/Life insurance policy PAN Card
  • Business Bank Statement

Which Vehicle can be financed?

Bargain Loans finances most passenger cars and multi-utility vehicles manufactured by India’s leading automobile companies. We also finance imported cars subject to fulfillment of certain terms and conditions.

How much finance can I avail of?

You can borrow up to 90% of the car value. The minimum loan amount is Rs. 75,000/-

What are the tenure options?

The choice is yours. You can choose any repayment option from 12 to 84 months all specially designed to suit your requirements.

How long will it take to process the loan?

Within 48 hours of completing documentation. Credit is at the sole discretion of KMPL

Do I have the option of pre-paying the entire loan amount?

Yes. One can pre-pay the loan any time after 6 months of availing of the loan. You have to pay a small prepayment fee on the outstanding loan amount. We also offer the option of refinance on the same vehicle after completion of a particular tenor. Conditions apply.

Do I need a guarantor?

Generally no. But if your income / age does not meet our credit criteria, then you may be required to have a guarantor to stand surety for your loan.

So how do I get a KMPL Car Loan?

Just fill the Online Application Form and our representative will get in touch with you shortly

Car Loan EMI Calculator

A car is no longer a luxury but a necessity for most people. Bargain Loans offers affordable and convenient car loans that feature flexible schemes and fast approvals.Availing a used or new car loan is quick, easy, and convenient. Users can find customized solutions with tenures of up to 7 years to avail auto loans at affordable costs.

If you are curious about the monthly instalment you will have to pay, simply use the EMI calculator for car loans. All you need to do is input the information about the vehicle and finances, and the calculator will automatically give you the car loan EMI calculation. Users can estimate their monthly instalments for used as well as new cars. The user-friendly interface allows you to easily modify the details to calculate the EMI amount.

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