Vijaya Bank Car Loan

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Buy your dream Car

Rates as low as 8.50%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

Vijaya Bank Car Loan Key Features

Vijaya Bank Car Loan Interest Rate 7.35% per annum
Min Loan Amount ₹ 50,000
Max Loan Amount
(Loan to Value)
Loan up to 85% of On Road Price
Loan Tenure 1 year to 7 years
Lowest EMI / Lac NIL
Minimum Net Monthly Income ₹ 20,000
Minimum ITR for Self Employed ₹ 300,000
Age Criteria Salaried: 21 years to 70 years
Self Employed: 21 years to 70 years
Types of Cars For All New Passenger Cars, Multi Utility Vehicles (MUVs) and Sport Utility Vehicle (SUVs).
Processing Fee Up to 0.55%
Foreclosure Charges No foreclosure
Basic Documentation ID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation

About Vijaya Bank Car Loan

Vijaya bank is a Nationalized Private Sector Bank of India. On 15 April 1980, Vijaya Bank has become a Nationalized bank. This bank has 1805 branches, 50 extension counters and 1592 ATMs all over India.

Vijaya Bank offers Car Loans at reasonable interest rates to their customers for buying their dream car either new or second hand. You can easily avail car loan which can be get who have a good credit/CIBIL score.

Advantages of Vijaya Bank Car Loan

Vijaya Bank Car Loan

Vijaya Bank Car Loan Eligibility

Salaried Individual
  • Age – 21-70 years of age
  • Net Monthly Income – should be minimum ₹ 20,000
  • Employment Duration – Minimum 1 year
  • Income Eligibility – Depends on Form 16 and Salary Slip
Self-Employed Individuals
  • Age – 21-70 years of age
  • Minimum ITR  – Rs. 4 lakh, Rs. 18 lakhs (for selected car models)
  • Employment Duration – Minimum 3 years
  • Income Eligibility – Depends on the latest Income Tax Returns
Self-Employed Non-Individuals (Company/Partnership)
  • Minimum ITR  – Rs. 4 lakh, Rs. 18 lakhs (for selected car models)
  • Employment Duration – Minimum 3 years
  • The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
  • Applicant should have a vintage of at least 6 months
  • Average Quarterly Balance – Minimum Rs.1 lakh for last 2 quarters
  • Maximum Loan Amount – 3 X Average Quarterly Balance of Last 2 quarters

Vijaya Bank Car Loan Interest Rate, Fees and Charges

Charges New Car Loan Used Car Loan
Interest Rate 7.35% p.a. 10.05% p.a.
Processing fee Up to 0.55% of the loan amount Up to 0.55% of the loan amount
Issuance of Duplicate Repayment Schedule Charges Rs.500 per instance Rs.500 per instance
Foreclosure Charges No foreclosure charges No foreclosure charges
Penal Interest 2% per month 2% per month
Part Payment charges NA NA
Cheque/Instrument Swap Charge Rs.500 per instance Rs.500 per instance
Documentation Charge Rs.500 per instance Rs.500 per instance
Issuance of Duplicate No Dues Certificate Charges NA NA
Registration Certification Collection Charge Rs.200 per instance Rs.200 per instance
Cheque Bounce/Instrument Return Charges Rs.350 per instance Rs.350 per instance
Issuance of Duplicate Statement Charges Rs.500 per instance Rs.500 per instance
Loan Cancellation/Re-booking Charges NA NA
Issuance of Credit Report NA NA

Vijaya Bank Car Loan Documents Required

Salaried Individual

Category Documents Required
Identity Proof

(Any 1)

Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof

(Any 1)

Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Date of Birth Proof

(Any 1)

Birth Certificate
Passport
Driving Licence
PAN
Signature Proof

(Any 1)

Passport
Bankers Verification
PAN
Income Proof Latest Form 16 and Salary Slips
Bank Statement Bank statement of last 3 months
Employment Continuity Proof Work Experience Certificate
ITR of Form 16
Salary Slip with Joining Date
Appointment Letter
Letter of Relieving

Self-Employed Individuals

Category Documents Required
Identity Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Date of Birth Proof (Any 1) Birth Certificate
Passport
Driving Licence
PAN
Signature Proof (Any 1) Passport
Bankers Verification
PAN
Income Proof Latest Form 16 and Salary Slips
Bank Statement Bank statement of last 3 months
Employment Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Business Proof Current Account Statement
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Registered Lease Document with other utility bills

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

Category Documents Required
Identity Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Income Proof Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Bank statement of last 3 months
Business Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Additional documents Authority Letter/PAN cards

2. Private Limited/Limited Companies

Category Documents Required
Identity Proof Copy of Latest MOA
Copy of Incorporation
Copy of Latest AOA
Address Proof (Any 1)
Current Account Statement
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Registered Lease Document with other utility bills
Income Proof Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Bank statement of last 3 months
Business Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Additional documents
List of Directors and Shareholding Partners
PAN Card
Board Resolution
Certificate of Commencement of Business for Ltd. Co.

Vijaya Bank Car Loan EMI Calculator

The applicant has the choice to know the EMI’s before availing a Car Loan. So, the applicant can easily check through the link below:

Car Loan EMI Calculator

Vijaya Bank Car Loan Types

Vijaya Bank offers different types of car loans to its customers. You have the choice of choosing the offer which suits your need the best. It offers the following types of Car Loans:

  1. New Car Loan –  Those who want to buy a new car, this is the scheme for you. You can take Vijaya Bank Car Loan for a minimum of Rs. 50,000 and a minimum tenure of 7 years.
  2. Used Car Loan – If you want to buy a used car then you can opt for this scheme which offers a minimum loan of Rs. 50,000 and a minimum tenure of 5 years.
  3. Loan Against Car – You can choose this scheme if you are in need of urgent funds where you can keep your cars as security with the bank.

Vijaya Bank Car Loan Pre Calculated EMI

How to Apply for Vijaya Bank Car Loan?

  1. Visit Dialabank and fill a form.vijaya bank car loan
  2. Wait for a call from our Relationship Manager who will provide you guidance throughout the process.
  3. You can compare divergent offers from banks and choose the one which suits your needs.
  4. So, you can easily apply for a Car Loan through Dialabank and enjoy best offers.

Vijaya Bank Car Loan for Top Selling Cars

Other Available Products from Vijaya Bank

Vijaya Bank Personal Loan Vijaya Bank Gold Loan Vijaya Bank Home Loan
Vijaya Bank Credit Card Vijaya Bank Two Wheeler Loan Vijaya Bank Education Loan

FAQs for Vijaya Bank Car Loan

✅ Can you prepay your Vijaya Bank Car Loan?

No, there is no prepay/foreclose option for getting a car loan from Vijaya Bank.

✅ Does Vijaya Bank Car Loan charge any Processing Fees?

Vijaya Bank charges a processing fee o up to 0.55% for getting a car loan.

✅ Can I get a Vijaya Bank Car Loan if I have a low Credit score? 

Vijaya Bank requires you to have a credit score of 700 or above for availing a car loan.

✅ What can you keep as Security with Vijaya Bank to get a Car Loan?

No need of any other security other than the car itself to get a Car Loan from Vijaya Bank.

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