Drive Your Dreams with South Indian Bank Car Loans

A car is more than just a mode of transportation for many Indians - it is an aspirational symbol, representing progress, freedom, and success. Own your dream car is no longer a distant dream! With SIB, you can avail car loan for buying new vehicles, takeover of existing vehicle loan, purchase of second hand vehicle etc. with fast approvals and minimal documentation. Let’s hit the road together!

Why Choose South Indian Bank?

With the customer understanding of more than 9 decades, we can help you to drive home your dream car without much burden on your pocket. With seamless process and zero paperwork we ensure you don't waste much of your time to fulfil your dream. The flexible repayment tenure also gives you enough time to repay the loans with out much hassle.

Pro Tips for Car Loan Applicants

Improve your credit score

A higher credit score can qualify you for lower interest rates. Aim for a score above 740.

Check your eligibility

Use our Vehicle Loan Eligibility Calculator to know if you qualify.

Plan EMI payments in advance

Use the EMI calculator to pick a comfortable EMI amount that fits your monthly budget.

Explore top-up options

If you need additional funds later, apply for a top-up on your existing car loan at competitive rates.

Prepayment option

If you have surplus funds, prepay part of your loan to reduce the interest burden and shorten the tenure.

Understand all fees and charges

Familiarise yourself with prepayment penalties and processing fees to avoid surprises.

Compare loan offers

Evaluate offers to get the most attractive car loan interest rate for your new or used vehicle.

Avoid delays in payments

Ensure timely EMI payments to maintain your credit score.

SIB Top-Up Car Loan

Need extra funds while still repaying your car loan? South Indian Bank's Car Loan top-up allows you to access additional financing without applying for a new loan. This top-up facility helps meet unforeseen expenses or fund other financial goals with ease.

Car Loan top-up features

Available on existing car loans for a hassle-free process
Competitive top-up interest rates
Flexible repayment options aligned with your car loan tenure
Minimal paperwork since your existing documents are already verified

Instant loan approval - Quick and seamless loan approvals for your vehicle needs.
Competitive interest rates - Car loan interest rates starting as low as 7.5%.
Flexible repayment - Choose repayment tenures that suit your budget, ranging up to 84 months.
Minimal documentation - Hassle-free process with minimal paperwork.
Top-up facility available - Get more flexibility with the option to top-up on your car loan.
Loan coverage - Loan up to 100% of ex-showroom price, including insurance, registration charges, and extended warranty.
Income clubbing - Co-applicant’s income can be combined for eligibility.

Other Feature	New Car	Used Car
Loan Amount (Rs. Lakhs)	1.00 - 100.00	1.00 - 50.00
Loan Tenure (Months)	12 - 84	12 - 60
Loan-to-Value (LTV)	Up to 95%	Up to 75%

Eligibility for SIB Car Loan

Our car loans come with flexible eligibility, making it easy to finance your dream vehicle

Criteria

Details

Age (With Co-Applicant)

Minimum: 18 Years

Age (Without Co-Applicant)

Minimum: 21 Years

Maximum Age

60 years (Salaried) / 65 years (Self-employed, Pensioners)

Loan Amount

Rs1 Lakh – Rs100 Lakhs (New Car) / Rs1 Lakh – Rs50 Lakhs (Used Car)

Loan Tenure

12 – 84 months (New Car) / 12 – 60 months (Used Car)

Loan-to-Value (LTV)

Up to 95% (New Cars) / Up to 75% (Used Cars)

Employment

2 years of total employment, 1 year in current role / 2 years of business experience

Credit Score

Minimum 740, applicants with 0/-1 credit history can also be accepted

*Get behind the wheel with ease, thanks to competitive terms and inclusive credit criteria

Our transparent fee structure ensures you know exactly what to expect throughout your loan journey.

Category	Details
Interest Rates	Check Interest Rates
Additional Charges	Click here for Service Charges

With competitive rates and minimal charges, financing your vehicle with South Indian Bank is both affordable and straightforward.

Use our Car Loan EMI Calculator to compute monthly EMIs based on the loan amount, tenure, and interest rate. Get the exact figure and plan your repayment strategy in just a few clicks.

We ensure a smooth loan process with clearly outlined documentation requirements tailored to each applicant type.

Applicant Type	Documents Required
Salaried Individuals	Photo ID, Address proof, Passport photo, Latest 2 months payslips, 6 months salary bank statements, Form 16
Self-Employed (Business)	Business proof, Address proof, Passport photo, 2 years tax returns, Bank statements
Agriculturists	Land ownership proof, Tax receipts, Address proof, Passport photo, 6 months bank statements
Pensioners	Pension order copy, Address proof, Passport photo, 6 months pension account statements
NRIs	Passport & VISA, NRE account statement, Guarantor documents, 6 months bank statements

Applying for a car loan with South Indian Bank is fast and easy! You can choose to apply online or by visiting your nearest branch.

Online application or branch visit - Apply here or visit your nearest branch to fill out the car loan form.
Submit documents - Upload the required documents online or submit them at the branch.
Verification & approval - Our team will verify the information and approve the loan.
Disbursal - The loan amount will be directly credited to the dealer or seller to facilitate a seamless purchase.

APPLY NOW and get ready to drive home your dream vehicle!

Apply Now