Drive Dreams Home
Orion Finance World's commitment is to empower your car-buying journey. Our car loan solutions are designed with transparency, efficiency, and customer satisfaction in mind. By leveraging the value of the car you intend to purchase, we make the financing process straightforward, ensuring that you experience the joy of driving your dream car without unnecessary hassles.
Why Opt for Orion Finance World for Your Car Loan?
Key Features
Interest Rate
Starting from 8.65% onwards (may vary across lenders)
Loan Amount
80% to 90% of the car’s on-road price (some lenders may offer up to 100%).
Tenure
Up to 7 years.
Processing Fees
Starting from 0.5% onwards of the loan amount (may vary across lenders).
Eligibility Criteria
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Age Limit:
Applicants typically need to fall within the age range of 21 to 60 years, with an additional condition that the age should not exceed 65 years at the time of loan maturity. -
Minimum Income:
The minimum income requirements are as follows:- For Salaried Individuals: Rs. 25,000 per month
- For Self-Employed Individuals: Rs. 3 lakh per annum
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Minimum Work Experience:
To qualify for a car loan, a minimum work experience is often required. Generally, applicants need to have a work history of at least 2 years, with a minimum of 1 year spent with the current employer. -
Credit Score:
Maintaining a healthy credit score is crucial for loan approval. Lenders typically prefer a credit score of 750 and above, although this requirement may vary across different lending institutions.
It's essential to keep in mind that these eligibility criteria provide a general guideline, and specific requirements may differ among lenders. Prospective borrowers are encouraged to check with their chosen lending institution to understand the exact criteria applicable to the car loan scheme they are interested in
Documents Required
Common Documents for All Applicants:
Individual KYC: This includes a recent photograph, Pan Card, and Aadhar Card.
Current Residence Address Proof: A utility bill serves as proof of your current residence.
Car Quotation: A document provided by the dealer detailing the cost of the car.
Additional Documents for Salaried Individuals:
Latest 3 months’ Salary Slip: Providing the latest salary slips helps verify your income.
6-month Bank Statement: Reflecting the salary credited, this statement provides insights into your financial transactions
Company ID Card / Offer Letter / Visiting Card: These documents serve to establish your association with the employer.
Additional Documents for Self-Employed Individuals:
2 Years ITR (Income Tax Returns): Providing the last two years' ITR establishes your income consistency.
1 Year Monthly Bank Statement: This document showcases your financial transactions over the past year.
Business KYC: This includes documents such as the Udyam Certificate, Gumasta Certificate, and GST Certificate.
Calculator
Get an approximate figure for the total monthly instalment payments along with a complete break-up of the loan.