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A car loan from Airtel Finance takes the stress out of buying your next vehicle. Rather than going for a traditional auto loan, you can choose the unsecured personal loan for car purchase. Such a loan involves no collateral to be submitted, no down payment and a completely online journey for the applicants. Furthermore, you can also compare the rates from different lenders and use a personal EMI calculator to plan your financial approach for repayment. Airtel offers a straightforward way to get a car loan that actually puts you in the driver’s seat, right from the first day.
Getting a Personal Loan to buy a car means no hypothecation endorsement on your registration certificate, unlike an Auto Loan, where the lender's interest is recorded against the vehicle until the loan is closed. Here are the other advantages of using a personal loan for car purchase through Airtel Finance:
A personal loan for car can be used for any purpose, including buying a car from a private seller, which might be difficult with traditional Auto Loans.
Since personal loans are unsecured, the lender has no security interest in your car and cannot repossess it under the loan agreement. Do note that default still carries consequences, including legal recovery action and adverse reporting to credit bureaus.
Auto Loans typically fund 85 to 90 per cent of the on-road price, though some lenders offer up to 100 per cent funding. A personal loan is credited to your own account, so there is no separate margin payment to the dealer. Any amount above your sanctioned limit will need to come from your own funds.
Personal loans are particularly useful when buying a car from a private seller, as Auto Loans for private sales involve vehicle valuation, age restrictions and a slower process.
Discover how our personal loans can be tailored to meet your specific needs. Whether you need a personal loan online for travel, education, emergencies, or any other purpose, find the right loan option that fits your unique situation.
Once approved, your car loan amount is disbursed within a few days directly to your bank account.
Lending partners offer competitive unsecured rates, and every applicable charge, including the processing fee, is set out in your Key Facts Statement before you accept the offer.
The entire online car loan application runs on the Airtel App. Minimal documents are required, and everything is submitted digitally.
You can choose a repayment tenure between 3 and 60 months to suit your monthly budget, making the car loan easy to manage.
Apply from home. The process is simple and user‑friendly, even for first‑time borrowers.
A dedicated support team is ready to assist you with any queries during the car loan application and repayment.
To apply for a Personal Loan for your dream car, start by choosing a trusted lender and checking your eligibility. Complete the online application and submit necessary documents like ID, income proof, and bank statements.
Ensure your credit score is sufficient. Typically, a credit score of 700 or higher is preferred for personal loans.
Airtel Finance connects you with multiple RBI-registered NBFC partners. Compare their rates and terms side by side to find the best deal for your needs.
Prepare necessary documents such as ID proof, income proof (salary slips), bank statements, and proof of residence.
Submit your application through the Airtel App. The journey is fully digital, with no branch visit required.
Once approved, review the loan offer carefully to ensure it meets your financial requirements and expectations.
After thoroughly reviewing the terms and conditions, e-sign the loan agreement to accept the offer.
The loan amount will be disbursed into your account, which you can then use to purchase the car of your choice.
Before you apply for a car loan online, check these basic requirements:
Minimum 21 years at application. Maximum age at loan maturity should not exceed 60 years or retirement age, whichever is earlier.
A minimum net monthly income of ₹25,000 for salaried individuals, or comparable documented income for self‑employed applicants.
A CIBIL score of 700 or above improves your car loan approval chances.
Salaried, self‑employed professionals, and business owners are all eligible.Salaried applicants are generally expected to have at least 2 years of work experience, with at least 1 year with the current employer.
Indian resident with valid KYC documents and an active Airtel account.
An active bank account is required for loan disbursal, along with a NACH or e-mandate for EMI payments.
Keep these documents handy to speed up your apply for car loan online:
Aadhaar card, PAN card, passport, or voter ID.
Utility bill, rental agreement, or Aadhaar with current address.
Latest salary slips, bank statements (last 3‑6 months), or IT returns.
A live selfie captured during digital KYC.
Offer letter, employee ID, or business registration certificate.
A little preparation goes a long way in securing a car loan on terms that suit you.
A credit score above 700 not only boosts your car loan approval odds but may also unlock lower personal loan interest rates.
Interest rates can vary significantly across lenders. Even a 0.5% difference can change your total repayment amount, so check car loan offers carefully, and compare the annual percentage rate rather than the headline rate alone, since the processing fee also affects your effective cost..
Don't settle for the first offer. Airtel Finance connects you with multiple RBI‑regulated partners, allowing you to compare loan offers side by side.
Borrow only what you need. A smaller principal means a lower EMI and less interest paid over the life of the vehicle loan. Use the EMI Calculator to test different amounts.
Fast approval for medical, travel or urgent payments.
