Car loan for NRIE


I am an NRI employed in Qatar. I want to take CAR loan or a new Car



NRIs or an Indian working abroad, having Indian passports can apply for a car loan in India subject to meeting policy norms of the lender. Although, different banks have their own policy, but some of the major Banks require following:

  • Minimum salary of USD 1000 per month and the salary should get credited in a Bank account (min income criteria varies as per lender)
    -Valid proof of salary (like salary slip etc.)
  • salary should not be paid in cash
  • Applicant should be employed with current employer for at least 2 years
  • Good credit history (with details of credit history in the country where applicant is residing)
  • A guarator who is in India (preferably earning in India)
    -NRI Account (if you do not have one, then this can also be opened before loan disbursal)


If you wish to apply for a car loan, compare rates etc. then please feel free to follow this link below and apply through


Hi Sunil Kumar,

The requirements and features for a Car Loan for NRIs is a bit different from those of conventional Car Loans. You must purchase the car in the name of a relative, who is a citizen of India and can act as a guarantor for your loan. The car shall be registered in the name of the relative while the repayment of the loan shall be done by you. Banks will consider the credit history of your guarantor as well before approving your loan. The loan amount, repayment tenure and the interest rate will be determined based on your eligibility. BankBazaar offers Car Loans with interest rates starting at 8.90%. You need the following documents to apply for a Car Loan as an NRI.
 Proof of identity of guarantor as well as borrower (PAN card, Passport, etc)
 Photographs of guarantor and borrower
 Proof of residence of guarantor and borrower
 Employment certificate or work permit of guarantor
 Salary certificates of guarantor or bank statements from accounts of banks abroad
 Guarantee letter
 Hypothecation letter

Team BB