Loan against car for business owners — 11% onwards with iSanction

Why Business loan at 18% to 28% when loan against car is at 11% onwards.

Get the funds you need without
selling your car.

Loan based on car's current value

Up to 200% of the
cars valuation

Quick Loan Disbursal

Funds in 24 to
38 hours

Low rate of interest — from 11% onwards

Low Rate Of
Interest

Step 1 of 2

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🔒 Free eligibility check • No impact on your credit score

star 4.9 in Google Rating | 70,000 Happy customers

Interest Rates & Loan Offers

Compare rates from multiple lenders, make an informed decision andsave money on your loan with the right rate.

Lender

Interest Rates

Loan offer

Poonawala Finance

11% - 16%

Upto 200% of the car value

HDFC Bank

12.75% - 14%

Upto 200% of the car value

Axis Bank

14% - 16%

Upto 150% of the car value

ICICI Bank

14% - 15.5%

Upto 160% of the car value

Tata Capital

14.5% - 16%

Upto 200% of the car value

Bajaj Finance

14.5% - 15.75%

Upto 200% of the car value

Hero Fincorp

16% - 18%

Upto 200% of the car value

Loan Eligibility

Understand the requirements and Maximise your chances of getting approved for a loan against your car.

Salaried Individuals

Salaried
Individuals

Age limit - The minimum requirement is 21 years, Should not be older than 65 years at the end of the loan term.

Job criteria - Individuals who have worked for at least 2 years, (Including at least one year with their present employer).

Minimum annual income - rupees 2,50,000 + their spouse's earnings.

Loan against car eligibility, in case you have an active
loan on your car.

Individuals must have paid at least 9 EMI's for that loan.

Self-Employed Individuals

Self-Employed
Individuals

Age limit - The minimum requirement is 21 years, Should not be older than 65 years at the end of the loan term.

Business criteria - Individuals who have been in business for at least 2 years.

Minimum annual income - rupees 2,50,000.

Get a top up loan, in case you have an active
loan on your car.

Individuals must have paid at least 9 EMI's for that loan.

Documents required for a loan against car for business owners

Documents
Required

These are the basic documents required to get you started.

* The final list of documents necessary is determined by the lender you apply with and your personal profile.


For example: For loan against car if you take 10,00,000/- Rs. loan amount at a rate of ideal rate IRR 12.75% for a tenure of 5 years/60 Months, your EMI will be 22,625/- Rs.
Processing fees , document charges , stamp duty charges and related charges applicable as per banks will be disclosed directed via bank. And once it confirmed from your end, then only disbursement will be processed. We intend to keep no hidden charges and educate the customer in clear terms in all regards.
Minimum tenure period of 3 years and maximum 5 years depending on your income and vehicle age.
These numbers are indicative and final interest rate or fee may vary from one user to another depending on the credit assessment.

Documents
Required

Salaried
Individuals

Self-Employed
Individuals

Aadhar card

required
required

PAN Card

required
required

Registration Certificate of the car

required
required

GST Certificate/Udhyam Registeration certificate/Shop Act

required
required

Account statement (latest 6 months)

required
required

Latest electricity bill

required
required

Passport size photo

required
required

Last 2 years ITR as proof of income

required
required

Salary Slip (latest 3 months)

required
required

Latest 2 years form 16

required
required

FAQ's

What is a Loan Against Car?

Team iSanction offers loans against car which is a facility where you pledge your car in order to get a loan, where you can receive a loan up to 200% of the valuation of your car. You will receive funds in just 48-72 hours with the lowest possible interest rates (you will be provided with the comparison of interest rates from various banks).

Why should a business owner choose a loan against car over a business loan?

A loan against car is secured against your vehicle, so it typically starts at around 11% onwards, versus 18% to 28% for an unsecured business loan. You raise working capital at a much lower interest rate while continuing to use your car for business.

Who can avail loan against a car facility?

Both salaried and self-employed individuals, including business owners, can avail of this facility provided they fit under the requirements listed above.

Can I get a top-up or balance transfer on my existing car loan?

Yes. If you have an active car loan and have paid at least 9 EMIs, iSanction can arrange a car loan top-up for extra funds, or a car loan balance transfer to a lower interest rate to reduce your EMI.

Does this require a car verification or valuation?

A car verification will be performed on the car you pledge as security.

How much loan can I get?

The amount of loan against a car depends on your repayment track record, credit score, the value of your existing car loan, and other factors like the model and age of the car. You can get a loan against the car of up to 200% of the original loan value of the car.

How much time is needed for the process?

Ideally the process takes 24 to 36 hours and ends up maximum at 2 working days in adverse situations, depending on the car model and the customer's documents.

How to apply for a loan against a car?

Fill in the details above and our team will assist you on call.

Testimonials

Akshay Shekhawat

I was in urgent need of funds when Team iSanction came to my rescue, They managed to not only provide me the funds but also provide a level of care and support that's genuinely heartwarming.

John Varghese

Team iSanction has made the process of getting a car top-up loan really quick and simple and saved me a lot of time and effort with their smooth service.

CM Deshpande

I was thinking of securing a loan against my car. That's when I came across a iSanction. They compared the interest rates across a lot of banks, provided me with the best possible interest, and made the entire process hassle-free for me.

Owais Sayyed

Their ability to provide car loan balance transfers at low-interest rates and disburse funds within 48-72 hours is a testament to their dedication and expertise.