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AU SMALL FINANCE BANK CAR LOAN

AU Bank avails a hassle-free home loan with our best-in-class services. AU Small Finance Bank Limited is an Indian scheduled commercial bank that was founded as vehicle finance company AU Financiers (India) Ltd in 1996 and converted to a small finance bank on 19 April 2017.

Having a car is not a big deal nowadays; the real deal is that you get what you want. Most people have a car in their mind which they want to buy for their needs. Some of them can buy it and others can't, some of them go for low price and average looking cars and some want to buy expensive and beautiful cars. Most people love to buy or we can say have a dream to buy a certain expensive car but they can’t, the only reason is budget. People get upset and lose hope for that car and compromise with the choice then they purchase a low budget car. 

Here, we talk about all things above that are quite normal but there is change in it, now everyone can buy their dream car with ease. You all think that “how it is possible? To overcome with this issue AU Small Finance Bank came with an exciting opportunity i.e. AU Small Finance Bank car loan. AU Small Finance Bank offers car loans at attractive interest rates. The process to apply for the loan is simple and approvals are quick as well. AU Small Finance Bank provides car loans for new cars as well as for used cars.

AU Small Finance Bank Car Loan Benefits

AU Bank Car Loans come with most suitable features and benefits. And all the schemes of the bank are customer friendly and easy to understand.

1. Minimal documentation 

AU Bank Car loan required less documentation for the processing of the car loans.The documents submitted by the customers are KYC, address proof and income proof with the loan application form.

2. Flexible loan tenure 

AU Bank provides a car loan tenure period of minimum tenure is 1 years and the maximum tenure is 5 years. The ICICI Bank car loans are taken to meet their sudden needs of the customers for their dream cars.

3. Instant approval 

AU Bank provides car loan approval in a very speedy way for the customers so they don't have to waste their precious time for loan approval. They can easily get approval for the car loan online.

4. Attractive interest rate

The AU bank provides an attractive interest rate of upto 16%. Basically the rate of interest will be decided by the bank according to the customer age, employment type, overall profile and the most probably Cibil score. So, there will be a very good chance for the customer to get a car loan at an attractive and best interest rate.

5. Wide Range of Cars

You can avail of a car loan to finance the entire range of passenger cars available in India.

6. Hassle free process

Au bank provides a hassle free process to apply for car loans. We have simplified the loan process for you, by ensuring transparency in dealings. Our team will lead you through the whole process, including sourcing and documentation.

7. Wide Scope of customers

The AU Small Finance Bank Car Loan is available to all customers. There are schemes designed for people who cannot produce income documents as well.

8. Low Processing fee

AU Small Finance Bank offers a low processing fee of 1% of the loan amount.

AU Bank Small Finance Bank Car Loan Fee and Charges

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

AU Small Finance Bank Car Loan Eligibility Criteria

If you are going for the car loan from AU Small Finance Bank must check that you come under eligibility criteria. 

  • Assessment of your income and standard of living

  • Stability of residence 

  • Your equity in the proposed vehicle

  • Established cash flow by way of salary income or business income of self-employed professionals

  • Prior credit history, if any, should be satisfactory

  • Credit norms, as applicable

AU Small Finance Bank Car Loan Document Required

While applying for a AU Small Finance Bank car loan properly check all the documents that are mentioned below. Without these documents loan is not possible to get. 

TYPE

Id Proof

Address proof

Income proof

Salaried employees 

Aadhar card, pan card, passport, voter id

Electricity bill, registry, rental agreement, voter id, Aadhar card

Latest salary slip or Form 16, Last 3 month bank statement, proof of employment stability 

Self-employed professionals 

Aadhar card, pan card, passport, voter id

Electricity bill, registry, rental agreement, voter id, Aadhar card

Last 3 month bank statement, Last 2 years ITR, proof of business stability/ownership

Self employed non professionals 

Aadhar card, pan card, passport, voter id

Electricity bill, registry, rental agreement, voter id, Aadhar card telephone bill

Last 2 years ITR, comprehensive audited/financial report, proof of business stability/ownership, partnership deed and letter signed by all partners, Memorandum/ articles of association and resolution by board of directors

Compare other bank car loan interest rate

BANKS

INTEREST RATE

AXIS Bank New Car Loan

9.05% to 11.30%

AXIS Bank Pre-Owned Car Loan

14.80% to 16.80%

AXIS Bank Loan Against Car

13.99%

AXIS Bank Balance Transfer and Topup Car loan

15.00%

SBI New Car Loan Scheme

8.00% to 10.75%

SBI Combo Loan Scheme

8.70% to 9.20%

SBI Pre-Owned Car Loan

9.75%

SBI Loyalty Car Loan Scheme

8.70% to 9.5%

HDFC Bank New Car Loan

8.80% to 10.50%

HDFC Bank Used car loan

12.75% to 15.30%

HDFC Bank Loan Against Car

13.75% to 16%

Kotak Mahindra Bank Car Loan

8.00% to 24%

Yes Bank Car Loan

9.25%

ICICI Bank Car Loan

9.30% to 12.85%

IDBI Bank Car Loan

9.30% to 9.90%

RBL Bank Car Loan

12% to 14%

IndusInd Bank Car Loan

10.65% to 15.50%

Bank of Baroda Car Loan

8.85%

Bank of India Car Loan

8.95%

Canara Bank Car Loan

7.75% to 10.30%

Indian Bank Car Loan

8.45%

Punjab National Bank Car Loan

8.9% to 9.35%

AU Small Finance Bank Car Loan

Upto 16%

AU Small Finance Bank Car Loan Payment Online

The following steps are required to payment online for au small finance bank car loan i.e. :

1. Select the bank 

2. Provide your Loan details. Enter your 16-digit alphanumeric loan number twice. 

3. Confirm Payment. 

4. Receive online confirmation.

AU Small Finance Bank Car Loan How to Calculate EMI

To calculate EMI of AU Small Finance Bank Car Loan this formula is used to calculate EMI :

EMI = [P x R x (1+R) ^N] / [(1+R) ^N – 1]

P is the principal amount, 

N refers to the number of installments, and 

R is the rate of interest for each month

AU Bank Car Loan Customer Care

Contact number : 180012001200

Email id : customercare@aubank.in

AU Small Finance Bank Car Loan How to apply

There are two ways to get a car loan with AU Small Finance Bank i.e. 

1. Offline Method : Visit near AU Small Finance Bank branch 

2. Online method :

  • Visit AU Small Finance Bank official website

  • At home page click on go to “Personal” section

  • Now go to on “Products” section and then click on “loans”

  • Select the “Car loan”

  • Click on apply now and complete the application form carefully

  • Attached all mandatory documents with the application form and submit it

  • Now wait for few minutes and you will notify soon whether you are eligible for loan or not

Bank offered Financial Products

BUSINESS LOAN

CAR LOAN

COMMERCIAL LOAN 

EDUCATION LOAN

GOLD LOAN

HOLIDAY LOAN 

HOME LOAN 

LOAN AGAINST PROPERTIES 

LOAN AGAINST SECURITIES

PERSONAL LOAN

PROFESSIONAL LOAN

TWO WHEELER LOAN

AU Small Finance Bank Car Loan Frequently Asked Question

1. What is the maximum tenure of a car loan in AU Small Finance Bank?

The maximum tenure of car loan in AU Small Finance Bank is 5 years.

2. What is the loan amount of an AU Small Finance Bank car loan?

The maximum loan amount of AU Small Finance Bank car loan is up to Rs.15 lakh.

3. How much processing fees charged by AU Small Finance Bank car loan?

The processing fees charged by AU Small Finance Bank car loan is 1% of the loan amount.

4. How to apply for an AU Small Finance Bank car loan?

You can apply online or offline both for an AU Small Finance Bank car loan.

5. How to contact AU Bank?

You can contact through customer care number and customer care email id for AU Bank.

6. Can I take a loan from AU Small Finance Bank?

Yes, you can opt for a loan from AU Small Finance Bank. AU Small Finance provides loan products like home loan, personal loans and business loans, among others.

7. What is an AU Bank Car Loan?

AU Small Finance Bank offers car loans at attractive interest rates. The process to apply for the loan is simple and approvals are quick as well. AU Small Finance Bank provides car loans for new cars as well as for used cars.

8. Which formula is used to calculate EMI of AU Small Finance Bank Car Loan?

The formula is used to calculate EMI of AU Small Finance Bank is :

EMI = [P x R x (1+R) ^N] / [(1+R) ^N – 1]

Last Updated on : 05/Nov/2020

Know More About

Au Small Finance Bank Car Loan

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

Au Small Finance Bank Car Loan Interest Rates

Updated on 25 Nov 2017

Au Small Finance Bank Car Loan Details
Interest Rate (Monthly reducing balance) 16% - 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

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959