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AU Small Finance Bank Car Loan

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.

AU Bank Car Loan Interest Rates 2021

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

AU Small Bank Car Loan Highlights 

Here is what you expect from AU Small Finance car loan:

  • Purpose

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.

  • Loan Amount

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.

  • Rate of Interest 

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.

  • Loan Repayment Tenure 

The bank offers loan repayment tenure starting from 12 months and going up to 5 years.

  • Foreclosure 

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.

AU Small Finance 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

Eligibility for AU Small Finance Car Loan

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:

  • The loan applicant must be an Indian citizen.
  • This loan is available for all the individuals with the profile of a salaried employee, self employed person and professional.
  • Loan applicants must be at least 18 years of age when applying for this loan.
  • Maximum age of the applicant should  not go beyond 65 years during the tenure maturity.
  • The applicant must have a co-applicant. Family members such as parents or the spouse can become co-applicant for the AU Small Finance used car loan
  • The applicant must have residence stability. 
  • The applicant must have a stable job or business.
  • The applicant must carry a good credit history. 

Documents Required for AU Small Finance Bank Car Loan

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

Compare Other Bank Car Loan Interest Rates

BANKS

INTEREST RATE

AXIS Bank New Car Loan

9.05% to 11.30%

SBI New Car Loan Scheme

8.00% to 10.75%

HDFC Bank New Car Loan

8.80% to 10.50%

Kotak Mahindra 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 EMI Calculator

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.

How to Apply for AU Small Finance Bank Car Loan?

Here are the two different gateways to apply for apply for AU Small Finance car loan:

  • Apply For AU Small Finance Car Loan Offline

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. 

  • Apply For AU Small Finance Car Loan  Online

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:

  • Head the official website of AU Small Finance Bank.
  • Now, click and open the “Retail Loan” menu.
  • After that, click the “Vehicle Loan” list and then, hit the “Car Loan” option. 
  • Now, navigate to the “Personal Car Loan” option. 
  • Click the “New Car Loan” type.
  • On the new car loan page, you need to fill in the form with the required information.
  • Once you are done, click the “Apply Now” button. 

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.

AU Small Finance Bank Car Loan Customer Care Number

1800 1200 1200

Other Products Of AU Small Finance Bank

FAQs On AU Small Bank Car Loan

Q.1 What is the maximum finance can I avail on an AU Small Finance bank car loan?

The bank offers up to 100% of the on-road price of the car. 

Q.2 What are the AU Small Finance bank car loan foreclosure charges?

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.

Q.3 What is the processing fee for AU Small Finance bank car loan?

The processing fee charged by the bank for for AU Small Finance car loan is 2% of the loan amount plus applicable charges.

Q.4 What is the repayment tenure for AU Small Finance bank car loan?

The bank offers loan repayment tenure of up to 7 years.

Last Updated on : 08/May/2021

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) 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

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