ITI Finance Used Car Loan — Interest Rates, Eligibility & EMI (October 2026)
ITI Finance (part of the ITI Group's vehicle and retail lending operations) is one of Nxcar's 27 lending partners for used car finance, focusing on asset-backed retail and commercial-adjacent vehicle borrowers across western and northern markets.In Nxcar's October 2026 partner data, ITI Finance's used car loan interest rates are provided on request based on vehicle valuation, borrower location and credit profile.When you apply through Nxcar, our team checks whether ITI Finance offers a competitive sanction for your profile while simultaneously showing instant rate bands from 24 other banks and NBFCs.
Comparing multiple banks before applying? Read our pillar used car loan guide or compare all lender rates across 27 banks and NBFCs.
ITI Finance Used Car Loan Key Facts (October 2026)
| Lender Category | NBFC (Fortune Integrated Assets / ITI Group) |
|---|---|
| Interest Rate (p.a., Reducing Balance) | Rate on request |
| EMI per ₹1 Lakh (5-Year Tenure) | Check with lender |
| Maximum LTV (Funding Share) | Check with lender of assessed vehicle valuation |
| Repayment Tenure Range | 12 to 60 months (1 to 5 years) |
| Max Car Age at Loan Maturity | Up to 12 years at maturity |
| Minimum CIBIL Score Accepted | Check with lender |
| Processing Fee & Foreclosure | Processing: Check with lender · Foreclosure: Check Key Facts Statement |
| Typical Sanction & Disbursal Speed | Check with lender |
Nxcar Lending Desk Note: Case-by-case asset underwriting for self-employed vehicle buyers. (Median sanction time: 44 hrs; average loan size: ₹4,10,000).
what is ITI Finance's used car loan interest rate by slab?
Below is the October 2026 slab-wise pricing structure for ITI Finance across loan sizes, CIBIL bands, and income documentation tracks:
| Borrower / Loan Slab | Indicative Interest Rate (p.a.) | Key Underwriting Note |
|---|---|---|
| All loan sizes | Rate on request | Check eligibility on Nxcar for live partner quote |
ITI Finance Used Car Loan: Honest Pros and Cons
Why Borrowers Choose ITI Finance
- • Asset-focused underwriting for self-employed and small-fleet/retail buyers
- • Available through Nxcar's single-application partner network
- • Evaluates non-standard income profiles case by case
Matching borrower guide: used car loan without income proof →
Limitations & Watch-Outs
- • Rates are quoted on request rather than pre-published
- • Smaller retail branch footprint than national NBFCs like Bajaj Finserv or Cholamandalam
ITI Finance Used Car Loan EMI Table (₹3L to ₹12L over 5 Years)
Monthly EMIs and 5-year total interest computed on reducing-balance math across ITI Finance's lowest (13.00%), mid (14.50%), and ceiling (16.00%) rates:
| Loan Amount (60 Months) | At Lowest Rate (13.00%) | At Mid Rate (14.50%) | At Ceiling Rate (16.00%) |
|---|---|---|---|
| ₹3,00,000 | ₹6,826/moInterest: ₹1,09,555 | ₹7,058/moInterest: ₹1,23,509 | ₹7,295/moInterest: ₹1,37,725 |
| ₹5,00,000 | ₹11,377/moInterest: ₹1,82,592 | ₹11,764/moInterest: ₹2,05,848 | ₹12,159/moInterest: ₹2,29,542 |
| ₹8,00,000 | ₹18,202/moInterest: ₹2,92,148 | ₹18,823/moInterest: ₹3,29,357 | ₹19,454/moInterest: ₹3,67,267 |
| ₹12,00,000 | ₹27,304/moInterest: ₹4,38,221 | ₹28,234/moInterest: ₹4,94,036 | ₹29,182/moInterest: ₹5,50,900 |
Quick Used Car Loan EMI Calculator
Adjust loan amount, interest rate, and tenure on reducing-balance math
Estimated Monthly EMI
₹11,377/mo
ITI Finance Pre-Owned Car Loan Eligibility & Documents
Salaried Applicants
Check with lender
Self-Employed Applicants
Check with lender
| Document Category | Salaried Applicants | Self-Employed Applicants |
|---|---|---|
| Identity Proof (KYC) | PAN card (mandatory) + Aadhaar card, Passport, Voter ID, or Driving Licence | PAN card (personal & firm if applicable) + Aadhaar card, Passport, or Voter ID |
| Address Proof | Aadhaar, utility bill (electricity/water/gas < 60 days), or registered rent agreement | Residence proof + Office/Shop proof (GST certificate, Udyam, Shop Act, utility bill) |
| Income Proof | Last 3 months' salary slips and Form 16 (exempt under No-Income-Proof programs) | Last 2 years' ITR with Computation of Income (or exempted under ABB / NIP banking programs) |
| Bank Statements | Last 6 months' salary bank account statement (PDF or Account Aggregator fetch) | Last 6 to 12 months' primary current and savings bank statements |
| Vehicle Documents | Registration Certificate (RC), valid comprehensive insurance policy, pollution (PUC) certificate, physical inspection & valuation report, and existing loan NOC/foreclosure letter (if the car currently has active finance) | |
ITI Finance vs Other Used Car Loan Lenders
See how ITI Finance compares against its three closest peer lenders on rate, LTV, and car-age rules:
| Lender | Interest Rate (p.a.) | Max LTV | Max Car Age | Best For |
|---|---|---|---|---|
| ITI Finance (This Page) | Rate on request | Check with lender | 12 yrs at maturity | Niche asset-backed NBFC (rates on request) |
| Cholamandalam | 16.01% to 19.01% | Up to 85% of valuation (Check with lender) | 12 yrs at maturity | Self-employed and semi-urban borrowers |
| Kogta Financial | 16.01% to 17.01% | Up to 80% to 85% of valuation (Check with lender) | 12 yrs at maturity | Narrow 1-point band in West & North India |
| SK Finance | 16.01% to 19.01% | Up to 80% to 85% of valuation (Check with lender) | 12 yrs at maturity | Low CIBIL & informal income in North/West India |
| Equitas Small Finance Bank | 13.00% to 15.00% | Up to 80% of valuation (Check with lender) | 12 yrs at maturity | Vintage / older cars over 12 years |
Frequently Asked Questions (ITI Finance Used Car Loan)
What is ITI Finance's used car loan interest rate in October 2026?+
ITI Finance prices used car loans on a profile-dependent basis depending on CIBIL score, vehicle age, and banking track record. The exact rate you receive depends on your CIBIL score band, whether you submit income proof (salary slips/ITR) or apply under a banking surrogate, and the age of the car.
How much does ITI Finance fund for a second-hand car (maximum LTV)?+
ITI Finance finances Check with lender of the car's independent valuation price, with repayment tenures from 12 to 60 months (5 years).
What is the maximum car age allowed for a ITI Finance used car loan?+
ITI Finance requires the car's age plus your chosen loan tenure not to exceed 12 years at loan maturity. For example, a 5-year-old car can be financed for up to 7 years.
What is the minimum CIBIL score required for a ITI Finance pre-owned car loan?+
ITI Finance's typical CIBIL requirement is Check with lender. Check with lender
Can I pre-pay or foreclose my ITI Finance used car loan early?+
Yes. Foreclosure and pre-payment terms at ITI Finance are governed by your Key Facts Statement (Check Key Facts Statement). Under the RBI Pre-payment Charges Directions 2025 (effective 1 January 2026), floating-rate consumer loans carry zero foreclosure penalty, while fixed-rate car loans typically charge 2% to 5% + GST after the initial lock-in period.
How can I get a used car loan quote from ITI Finance?+
Submit a single loan eligibility request on Nxcar. Our lending desk routes your profile to ITI Finance alongside up to 26 other banks and NBFCs where you meet the location and vehicle criteria.