Application Criteria

Who can avail of LFSIN 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 car, 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 car, 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