Application Criteria

Who can avail of TFSIN new car loans?

  • Salaried individuals in the age group of 21 to 60 years (at the end of the tenure).
  • Self-employed individuals in the age group of 21 to 65 years (at the end of the tenure).
  • Partnership Firms.
  • Public & Private Ltd. companies.
  • HUFs, Trusts and Societies.
  • NRI citizens.

Salaried Individuals

Eligibility Criteria Documents required
  • Minimum age of Applicant: 21 years
  • Maximum age of Applicant at loan maturity: 60 years
  • Minimum Annual Income: Rs 200000 net annual income
  • Minimum employment of 6 months
  • Proof of Identity: Passport copy, PAN Card, Voters Id Card, driving license( Laminated, Recent, Legible)
  • Income Proof: Latest salary slip with Form 16.
  • Address Proof: Ration Card/Driving license/Voters Card/passport copy/telephone bill/ electricity bill/Life insurance policy / PAN Card
  • Salary Bank Statement for 3 months

Self Employed

Eligibility Criteria Documents required
  • Minimum age of Applicant: 21 years
  • Maximum age of Applicant at loan maturity: 65 years
  • Minimum employment: At least 2 years in business
  • Proof of Identity: Passport copy, PAN Card, Voters Id Card, driving license( Laminated, Recent, Legible)
  • Income Proof: Latest ITR and computation of Income
  • Address Proof: Ration Card/Driving license/Voters Card/passport copy/telephone bill/ electricity bill/Life insurance policy / PAN Card
  • Business Bank Statement

Documents Required

Documents related to Trust/Society/HUF
  • KYC of Karta in case of HUF family
  • Trust Deed
  • Resolution for Loan & Signatory of Loan agreement / PDC
  • KYC of authorized Signatory
Partnership Firms
  • Registered Partnership Deed
  • Service Tax / Sales Tax / VAT Registration certificate in name of Firm / Firm's Registration Certificate
  • KYC of authorized Signatory
  • Authority Letter from all Partners for Loan and Authorization to specific partner/s to sign Loan documents
Proof for Business Continuity
  • ITRs
  • Current Account banking
  • MOA/Certificate of incorporation
  • Partnership deed
  • Business registration certificate
  • Income proof of current year and previous year
Proprietorship Firm
  • Service Tax / Sales Tax / VAT Registration certificate in name of Firm / Firm's Registration Certificate
  • KYC documents of Proprietor
  • Bank Statement of Firm
Pvt. Ltd company / Public Ltd Companies
  • Memorandum of Association
  • Article of Association
  • Board Resolution & Authorization for signing of Loan agreement & Cheques
  • KYC of authorized Signatory
  • KYC documents of director
  • Income proof of Director
  • Bank statement of Company/Firm

Know More

Document Checklist

Loan Application Process

Finance Plans