Car Loan @ 8.75%*

Apply Now & Get Instant Approval

CL Interest Rates

Car Loan

The larger the down payment, the lower the principal of the auto loan, which means lower costs for the borrower and reduced risk for the lender . Auto loans are typically structured as installment loans, which means that the loan is paid off in a series of regular (usually monthly) payments. Car Loan to Fulfill all Your Needs
Instant Online Approvals

Now get instant Car loan  through our online facility. No need to go to any branch. From wherever you are, Simply fill an online form and within 90 seconds, get approval on your application. It is as simple as 123.

Upto 100% Funding on the New Car

We offer up to 100% Funding on the Ex-showroom Value of the Car.

Part Prepayment facility

You can prepay up to 6 times in a calendar year at any interval with the minimum amount per prepay transaction being not less than 3 EMIs.

Nil Foreclosure charges

Now you can choose to foreclose your loan anytime during your loan tenor without paying any foreclosure charges.

 

Eligibility Criteria

Eligibility Criteria

To avail a  Car Loan, you should be :

  • Individual between the age of 21-65 years of age.
  • Regular employee of State / Central Government, Public Sector Undertaking, Private company or a reputed establishment.
  • Professionals, self-employed, businessmen, proprietary/partnership firms who is an income tax assessee.
  • Person engaged in Agricultural and allied activities.
a) Salaried:

Net Annual Income of applicant and/or co-applicant if any, together should be Rs. 3,00,000/-

b) Self employed, professionals and Proprietary / Partnership Firms:

Net Profit or Gross Taxable income of Rs. 4,00,000/– p.a. ( income of co-applicant can be clubbed together)


Documents Required


Documents Required 

Financials Salary slips of last 3 months Latest 2 months salary slip
Bank Statements Latest 3 months salary account bank statement
Employment Proof Employee ID card and visiting card
Work experience documents Current employment Appointment letter / Form 16 / 1 year old salary slip
Previous employment Appointment letter / Form 16 / Promotion letters/ transfer / confirmation letters / previous salary slip
KYC Identity proof Passport / Voters ID card / Driving license / PAN card
Address proof Passport / Driving license / Ration card / Latest mobile bill / Letter from employer (with HR /Admin sign)
Signature proof Passport / PAN Card / Driving license / Photo credit card (front only) / Banker verification letter ( Only online)
Age proof Passport/ PAN Card / Driving license / Birth certificate

Why magicloans.in Is a Good Platform to Apply for Car Loan

Why we are suggesting applying for the car loan by using magicloans.in over other sites.

The reason after that is magicloans.in know the value of your precious time.

And you will get so many perks if you apply by using this site. Here are some of them are given:

•First of all, If you apply for the car loan from you will be entertained by so many benefits

• After that, you will get some more concessions in the interest rates.

• Besides that, you just have to fill the car Loan form and you will get a call from outside automatically.

•Furthermore, there is no need to go to the bank.

• And your documents will be picked up from your doorstep.

 

 

 

How to Apply on magicloans.in

 

• First of all, Search for magicloans.in on google

• After that, a form will open up.

•  Therefore fill the form with the required information.

• Besides, that you will get assisted by us further.

• Furthermore, You can call on 60011600 for more information.

* Interest rate can vary as per individual’s portfolio.
* All loans repayment period are over 6 months. No short term loans.
* Credit at sole discretion of the Banks we have a tie-up with.
* The Organisation do not charge money from customers.