Car Loan

Get your loved ones a wheel of happiness.

Log on to CASHe and secure a car loan to buy your favourite car.

Don’t put off your dream to buy your favourite car.CASHe offers instant personal loan up to ₹4 lakhs. Benefit from our quick approvals and disbursals with flexible pocket-friendly EMIs.

Nowadays owning a car is more of a necessity than a luxury.

However owning a 4-wheeler comes at a high price, and not everyone can finance a car – new or secondhand – only with their savings. Here’s when a car loan can be of great use.

What is a Car Loan?

Simply put, a car loan is a type of loan offered by various banks and financial institutions that you can use to purchase a new or second-hand four-wheeler. Later, you can repay the car loan in Equated Monthly Instalments (EMIs) over a pre-decided tenure along with a specific car loan interest rate.

So, don’t put off your dream to buy your favourite car anymore. Benefit from CASHe’s instant car loans of up to ₹4 lakhs with quick approvals and disbursal along with flexible pocket-friendly EMIs.

Benefits and Features of a CASHe Car Loan

What are the features and benefits of a car loan?

  • No Collateral Required

    Since you are applying for a personal loan – an unsecured loan – there will be no need to pledge collateral. Collateral is an asset (item of value) that acts as a form of security or protection for the lender to ensure repayment of the loan.

  • Streamlined Process

    The car loan application process on the CASHe app is quick and smooth. You can apply for a new or used car loan within a few minutes and without having to visit a bank.

  • Adequate Funds

    You can borrow up to ₹4,00,000 with a CASHe car loan, so you can avoid falling short of funds while purchasing your dream car. Having said that, you must note that it is ideal to apply for a car loan online only for the amount that is absolutely necessary so that you can repay the loan in time and without having to struggle further for funds.

  • Digitised Documentation

    The car loan application process on the CASHe app is entirely online. So, all you need to do is upload all the necessary documents required for a car loan (that are legible and genuine) on the CASHe app and have them verified in order to get the four-wheeler loan approved.

  • Flexible EMI Plans

    Paying back the car loan amount is no hassle either. CASHe offers EMI plans that range from 90 days to 540 days, making it very convenient and flexible for you to repay the loan amount for the car loan.

₹4,000cr+
disbursed so far
20 million+
app downloads
4 lakh+
loyal customers

How to Apply for a Car Loan?

Applying for a car loan on CASHe is a simple process.

01
Create your account and provide all the necessary information.

02
Click on ‘Get Loan’.

03
Determine the type of loan and loan amount.

04
Get personal loans for 90, 180, 270, 360 and 540 days with

05
Wait for everything to be verified and approved.

06
Wait for everything to be verified and approved.

07
The loan amount will be disbursed to your bank account.

Loan Configuration for Car Loan-

CASHe offers a wide range of plans so that you can choose what is best for you.

CASHe

Days
Tenure: 3 months
Min. Salary ₹15,000
Minimum loan: ₹15,000
Maximum loan: ₹1,10,000

CASHe

Days
Tenure: 6 months
Min. Salary ₹20,000
Minimum loan: ₹20,000
Maximum loan: ₹2,10,000

CASHe

Days
Tenure: 9 months
Min. Salary ₹25,000
Minimum loan: ₹50,000
Maximum loan: ₹2,58,000

CASHe

Days
Tenure: 12 months
Min. Salary ₹40,000
Minimum loan: ₹75,000
Maximum loan: ₹3,00,000

CASHe

Days
Tenure: 18 months
Min. Salary ₹50,000
Minimum loan: ₹1,25,000
Maximum loan: ₹4,00,000

Requirements for applying

Below are the eligibility criteria & documents required for applying for CASHe Car Loan.

Eligibility Criteria

What is the eligibility criteria for a car loan?

Must be an
Indian citizen

Must be at least
18 years of age

Must be a
salaried professional

Must have monthly
salary of ₹15,000 or more

Must have a
Facebook or a Linkedin Account

Required Documents

What are the documents required for a car loan?

Photo Identity Proof
(PAN Card)

Income Proof
(Latest Salary Slip)

Identity Proof
(Aadhar Card)

Permanent Address Proof
(Accepted Documents)

Latest Bank
Statement showing Salary Credit

Things Covered Under Car Loan

A car loan from CASHe will help you cover all the major expenses related to buying a new or used car. This includes the cost of the car, vehicle registration charges, etc.

CASHe Interest Rate & Charges

Calculating car loan interest rates on CASHe is done on a per-month basis for the car loan amount. The car loan interest rate ranges from 2.25% up to 2.5% (equivalent reducing balance interest rate ranging from 3.71% to 3.85% per EMI) on the car loan amount. At CASHe, we also offer a 5-day interest-free grace period for you to pay your car loan EMI at the end of every month. Any subsequent delay in EMI payment will result in a 0.7% interest fee penalty.

Apart from the car loan interest, we also levy a processing fee ranging between ₹500 to ₹1,200, based on the car loan product you are eligible for.

Tax Benefits of a Car Loan

As per the Income Tax Act, you cannot claim any tax benefits from a car loan if you are a salaried individual. However, if you are self-employed or a business owner, you can apply for tax exemptions by claiming the car loan as a business expense.

Factors to keep in mind-

Here are a few important factors to keep in mind while applying for a car loan:

  • Proper Documentation

    When you apply for a car loan on CASHe, you must apply with the necessary documents. This is one of the primary requirements for a successful car loan application.

  • Credit Score

    CASHe has its first industry proprietary, Social Loan Quotient, which uses AI, ML, and smart analytics to determine your credit score. The SLQ score ranges from 0 to 995, with higher scores equating to a better chance of securing a car loan.

  • Repayment History

    Credit history can have a significant impact on your loan applications. Delayed payments and default status on past loans can have CASHe flag your account on the mobile app.

Car Loan with CASHe

Frequently Asked Questions

Have a question not mentioned here? Feel free to contact us and we will respond as soon as possible.

A car loan is a type of loan offered by banks and other financial institutions to help you buy a new or used car when you do not have enough funds. Availing a four-wheeler loan is convenient and affordable as you can pay the car loan EMIs on a monthly basis over a period of time.

You can follow these steps to avail a car loan on CASHe:

  • Download the CASHe mobile app.
  • Complete the account registration and KYC process by uploading all the necessary documents.
  • Click on the ‘Get Loan’ option.
  • Choose ‘Car Loan’ from the various types of personal loans and determine your car loan amount.
  • Choose the car loan tenure as per your convenience. You can get new or second-hand car loans with a tenure of 90, 180, 270, 360, and 540 days with loan amounts ranging from ₹15,000 to ₹4,00,000.
  • Wait for CASHe to verify your details and approve your car loan application.
  • Once approved, your car loan amount will instantly be disbursed to your bank account.

You can get car loans on CASHe with a tenure ranging between 90 days and 540 days.

At CASHe, the car loan interest rates are calculated on a monthly basis for the complete loan amount. The car loan interest rate on CASHe ranges from 2.25% up to 2.5% (equivalent reducing balance interest rate ranging from 3.71% to 3.85% per EMI).

You can find the CASHe mobile app on the Google PlayStore and the Apple App Store.

The eligibility criteria to avail a car loan from CASHe are:

  • You should be an Indian citizen
  • You must be at least 18 years of age
  • You must be a salaried professional with a minimum monthly salary of ₹15,000 or more

You will need the following documents to apply for a car loan on the CASHe app:

  • Identity proof (Aadhar card)
  • Income proof (latest salary slip)
  • Latest bank statement showing salary credit
  • Permanent address proof (accepted documents)
  • Photo identity proof (PAN card)

Usually, at CASHe, a car loan is transferred instantly once all your loan application documents are verified. To ensure that your car loan application is processed quickly, ensure that you upload the required documents in the necessary clear and legible formats.

In car loans, the Monthly Reducing Balance is a method of determining the interest on your vehicle loan. In this method, the car loan interest is calculated on the outstanding principal amount after each EMI.
Have a question that is not mentioned here? Feel free to contact CASHe customer care to know more!

The easiest way to secure car finance is by applying for a personal loan. It will be straightforward and convenient since it is an unsecured loan that you are applying for, on an instant loan app.

Yes, it is. Such a loan requires lesser documentation, no need for collateral, and is quicker to secure.

On Rs. 40,000 salary, you can borrow a minimum of Rs. 75,000 and a maximum of Rs. 3,00,000.

Yes, it can be used as a secondhand car loan as well.

You can choose an EMI plan from 90, 180, 270, 360 and 540 days.

You can get a new car loan only when the existing car loan is over.