Owning a car has become a necessity to many nowadays. Besides that, many dream of owning a flashy and much coveted car which requires availability of sufficient funds. In the light of which, we have brought this section talking about the AU Small Finance bank car loan. It is one of the best options among the car loan lenders with car finance of up to 100%. From an entry level vehicle, hatchback to premium sedans, AU Small Finance bank auto loan brings your closest to your dream car at attractive interest rates and avails finance for a flexible term of up to 7 years.
Loan Amount |
Up to 100% of the on-road value of the car |
Interest Charges |
Starts from 7.60% per annum |
Processing Fees |
Up to 2% of the loan amount + applicable charges |
Repayment Tenure |
Ranges from 12 months to 7 years |
Prepayment |
5% of the principal outstanding on prepayment within 12 months 3% of the principal outstanding on prepayment after 12 months |
Here is what you expect from AU Small Finance car loan:
AU Small Finance car loan helps individuals fulfill their financial requirements to buy the dream car. The loan is offered for the purchase of cars ranging from hatchbacks to premium sedans, SUVs and MUVs.
AU bank car loan comes with the finance ranging from 80% to 100% of the on-road price of the car. The loan amount depends largely on the applicant’s profile and not to mention, the type and model of car.
AU Small Finance car loan interest rates range
AU Small Finance bank car loan interest rates start from 7.60% per annum. The interest rates are determined by many different factors such as the type and model of car, applicant’s eligibility profile etc.
The bank offers loan repayment tenure starting from 12 months and going up to 5 years.
If you choose to pay off your loan early, then the bank charges a car loan foreclosure charge of 5% of the principal outstanding if the payment is made within 12 months. In case of the early closure after 12 months of the loan tenure, the bank charges a prepayment fee of 3% of the principal outstanding.
To apply for a car loan, you have to pay fees and charges applied by the AU Bank. It covers all charges and fees made by a bank to their customers.The following charges are taken from AU Bank i.e joining fee, annual fee, interest rate, late payments charges etc.
Fees |
Charges |
Loan cancelation fee |
Rs 3000 per loan |
Loan processing charge(non-refundable) |
Rs 3500 to Rs 8500 |
Late payments fee |
2% p.m. |
Cheque swap charge |
Rs 500 |
Cheque bounce charge |
Rs 500 |
Loan statement charge |
Rs 200 per statement |
Duplicate NOC/NDC |
Rs 500 |
NOC for LPG/CNG |
Rs 500 |
Convert from private to commercial (vise-versa) NOC |
Rs 2000 |
Before you apply for AU Small Finance auto loan, you need to ensure you are eligible for it. Failing to meet the AU bank car loan eligibility requirements will lead to the rejection of your application by the bank. Note that your car loan eligibility is determined by a cluster of important factors like your age, employment status, monthly/annual income etc.
Here is the AU bank car loan eligibility criteria:
Below are the documents that are required for AU bank used car loan application:
Documents |
Salaried Applicants |
Self Employed Applicants |
Identity Proof |
Aadhar Card, Voter’s ID Card, Passport, Driving Licence |
Aadhar Card, Voter’s ID Card, Passport, Driving Licence |
Address Proof |
PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills |
PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills |
Income Proof |
Salary Slips, Bank Statements, Form 16 |
Balance sheet and profit and loss account, IT Returns, Business Proof |
Other Documents |
Passport-size Photographs, Duly Filled Application Form |
Passport-size Photographs, Duly Filled Application Form |
BANKS |
INTEREST RATE |
9.05% to 11.30% |
|
8.00% to 10.75% |
|
8.80% to 10.50% |
|
8.00% to 24% |
|
9.25% |
|
9.30% to 12.85% |
|
9.30% to 9.90% |
|
12% to 14% |
|
10.65% to 15.50% |
|
8.85% |
|
8.95% |
|
7.75% to 10.30% |
|
8.45% |
|
8.9% to 9.35% |
You should always calculate the amount of your car loan EMI which will be payable every month. It helps you set a budget properly and decide the loan tenure.
You can visit the official website of the bank to use the AU bank car loan calculator and know the AU Small Finance bank car loan EMI which you have to pay every month.
Alternatively, you can check into the BankSathi car loan EMI calculator that is the fastest way to know the total monthly and yearly cost of your AU bank car loan EMI.
In this tool, you only have to enter the required car loan amount and loan repayment term (in months or years) along with the interest rate and hit “Calculate” to see the EMI amount.
Here are the two different gateways to apply for apply for AU Small Finance car loan:
You can go to the nearest branch of the bank in order to apply for an AU bank car loan. The bank representative will help you with the process of the car loan application. You must have all the required documents that you will be required to submit along with your loan application.
You can also apply for the AU Small Finance bank car loan online. In order to do that, you have to follow the steps given below:
Apart from the ways mentioned above, you can reach out to the AU Small Finance bank customer support and get started with the AU bank car loan application.
1800 1200 1200
Other Products Of AU Small Finance Bank
The bank offers up to 100% of the on-road price of the car.
The AU Small Finance bank car loan foreclosure fee is 5% of the principal outstanding if the amount is paid within 12 months of the loan tenure. In case of the early closure after 12 months of the loan tenure, the bank charges a prepayment fee of 3% of the principal outstanding.
The processing fee charged by the bank for for AU Small Finance car loan is 2% of the loan amount plus applicable charges.
The bank offers loan repayment tenure of up to 7 years.
Last Updated on : 08/May/2021Know More About
You're eligible for a Au Small Finance Bank Car Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Car Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
Au Small Finance Bank Car Loan Details | |
---|---|
Interest Rate (Monthly reducing balance) | 7.6% - 0% |
Processing Fees | 1% of the loan amount |
Loan Tenure | 1 year to 5 years |
Pre-closure Charges | Varies with bank |
Guarantor Requirement | Varies with bank |
Car Loans EMI Calculator