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  • on my ride.
User reviews
  • Car loan with Axis bank initially they said they need 2 years of income tax returns based on their requirement I have submitted later they need for 1 more year. It would be great if they have interaction face to face rather then informing everything in phone. They need to improvise on response part as their was no proper information given about the product.
    05:17 PM - Oct 24, 2014

    SATYA NARAYAN, gurgaon
    1.0/5 "Really Bad"
  • It was a great experience of availing a car loan from ICICI bank last month. Everything was clearly explained to me and they have collected only the required documents from me at my door step. The processing was very fast and my loan was disbursed within a week time. I don't think there is much difference in the rate of interest of all the banks.
    02:01 PM - Oct 24, 2014

    AUSTIN ANTONY, kochi
    4.0/5 "Great!"
  • Car loan with HDFC the response was late from their end, I would suggest they need to fulfill their commitments and need to improvise on response part. Interest rate and charges was bit high, since i have already availed a personal loan with them they should have considered.
    10:13 AM - Oct 24, 2014

    3.0/5 "Satisfactory"
  • I think I got only one call from AXIS bank regarding my personal loan application. I was not interested to take the loan from them after we discussed about the rate of interest and charges. I feel the rate of interest & charges are bit on the higher side. I am not satisfied with the customer service and response as well.
    05:17 PM - Oct 24, 2014

    RANGANATH HN, bangalore
    2.0/5 "Expected more"
  • Car loan with jammu and kashmir bank it was nice experience they approved my loan and disbursed the loan amount in weeks time. Interest rate was 11% it was bit high they would have reduced on that. The customer relationship was best. Overall it was hassle fee service.
    01:08 PM - Oct 24, 2014

    AFAQ HUSSAIN HAKIM, srinagar
    5.0/5 "Blown Away!"
  • Car loan with HDFC bank the service was very good and it was quite fast. I got loan approval in 3 working days. Interest rate was normal it was 10.50%. They offered the loan amount as per my expectation it was very convenient way. Overall it was nice experience.
    09:10 AM - Oct 24, 2014

    Prabhat Kumar Sachan, faridabad
    4.5/5 "Excellent!"
  • Since I am an existing customer of hdfc bank it was very easy to get my car loan from them. They sanctioned my loan within 2 days with 2.90 lakhs of 10.30% as interest rate which was quite affordable for me at that time. They gave me some discount in the processing fees to pay where I asked to pay only Rs.1000. I got a very good service from them.
    02:50 PM - Oct 24, 2014

    4.0/5 "Great!"
  • It was fine service done by HDFC when i availed the car loan with them. Everything is good I got loan approval in 10 days. Interest rate was nominal it was same in all banks. Charges and processing was around rs.3800/- their was nothing wrong I felt in overall experience.
    10:39 AM - Oct 24, 2014

    PRAFULL KUMAR, new delhi
    4.0/5 "Great!"
  • Car loan with HDFC bank the service was very good and it was quite fast. I got loan approval in 3 working days. Interest rate was normal it was 10.50%. They offered the loan amount as per my expectation it was very convenient way. Overall it was nice experience.
    09:00 AM - Oct 24, 2014

    Prabhat Kumar Sachan, faridabad
    4.5/5 "Excellent!"
  • HDFC Car loan response was good from their end. I had no issues with them, I post ponded my plan for buying the car next year. They had regular follow ups time to time they gave contact number. Interest rate was bit high, They charged is .5% of processing fee.
    02:16 PM - Oct 24, 2014

    CHETAN KUMAR PATEL, ankleshwar
    3.0/5 "Satisfactory"
  • Actually I had post ponded my plan of buying a new car until next year therefore my car loan application has been closed by AXIS bank. It was a good customer service and response from the bank. They called me promptly and followed up very well. It was overall a good experience with AXIS bank.
    10:23 AM - Oct 24, 2014

    AMIT KUMAR KHAPARDE, hyderabad
    3.5/5 "Pretty good"
  • It was a fantastic experience of availing a car loan from SBI. Since i have salary account with them it was quite easy to get the loan within a day I got loan approved. Only one time i visited the bank and it was done. Interest rate was 10.50% it was quite good, Their was no processing fee and file charges.
    06:04 PM - Oct 23, 2014

    AMIT KUMAR, new delhi
    5.0/5 "Blown Away!"
BankBazaar Car Loan is Rated as "Great!" by 2853 Users
 4.0 / 5.0   by 2853 users
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Fees & Charges

Promised Interest Rate

Customer Service



You're eligible for a Car Loan if you:

That's 21 years old, same time that everything besides milk becomes legal too

Are legally adult enough to handle it

Less than 65 years of age, because sanguine golden years are for playing golf

Have still got it

Salaried or self-employed - whatever puts food on your table

Get a regular pay check

There's a minimum amount for that regular pay check

Make more than a basic buck

Your eligibility depends on

Car Loan Minimum Salary

Minimum income required
Rs.2,40,000 per annum

Car Loan Maximum Loan Funded

Loan capped @
85% Ex-Showroom price

Car Loan EMI

EMIs of other loans lower
your eligibility

Boost your eligibility by

Car Loan Payoff Outstanding Credit Card Bills

Pay off your credit card bills

Car Loan Tenure

Choose longer tenure loan up to 5 Yr years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Car Loan Interest RatesUpdated on 25 Oct 2014

Car Loan Details
Interest Rate (Monthly reducing balance) 10.5% - 12.75%
Processing Fees Rs. 500 to Rs 5,000
Loan Tenure 1 year to 5 years
Pre-closure Charges 2% to 4% on outstanding loan amount
Guarantor Requirement No guarantor required

An Overview

There are plenty of reasons to buy a car. Off the top of our heads, we’ll tell you: long, happy drives with your family to fun destinations, no more haggling with mean autorickshaw drivers, avoid being packed like a tin of sardines in a bus, immunity to public transport strikes, the “cool” factor, your own choice of music… The list goes on. Get from Point A to Point B or Point Z and back with some new commuting adventures thrown in. Don’t have the funds for it? No worries. Simply apply for a car loan and in just a few EMIs, you’ll have your own set of wheels. Let’s fulfil your dreams today.

Why Apply for a Car Loan through BankBazaar?

BankBazaar is your finance-savvy buddy you can turn to any time for the most trusted advice on and solutions to your personal finance needs. With tie-ups with leading banks and financial institutions providing car loans, you search ends here! On our user-friendly site you can:

  • Compare quotes from different banks in terms of their interest rates and other charges
  • Compare features and facilities offered by different banks and financial institutions
  • Calculate your EMIs as per your loan amount and respective interest rates in order to plan your finances
  • Use our free, smart financial tools on our website to manage your finances
  • Apply for a car loan through BankBazaar with end-to-end assistance until your loan is disbursed

A car loan is a great way to get your dream car right away without having to pay its full value upfront. There are more reasons to consider a car loan:

  • Up to 100% of car finance on ex showroom price in some banks and generally up to 85% of car finance on ex-showroom price.
  • Banks and financial institutions offer very competitive and attractive rate of interests.
  • A comfortable time period over which to pay off your loan i.e. up to 7 years.
  • Everybody who falls in the below category can apply for the car loan:
    • Salaried individual
    • Self-employed individual
    • Partnership firm
    • Proprietorship
    • Public and private companies
  • Prepay your loan any time after 6 months by just paying a marginal fee.
  • Banks and financial institutions charge very low processing fees from their customers.
  • Get clear and transparent documentation.
  • Most banks offer an ECS option for automated EMI payments.
  • Quick loan processing with some banks completing the process in just 48 hours.

Tempted? We’ve given you every reason to be! Go and get your car right away!

Car Loan Eligibility

Certain factors determine your eligibility, namely:

  • Age:
    • For salaried individuals, the age limit defined by banks and financial institutions to get a car loan is 18 years – 75 years.
    • For the self-employed, the age limit defined by banks and financial institutions to get a car loan is 28 years – 65 years.
  • Income:
    • For salaried individuals, the minimum income specified by the banks and financial institutions is Rs.2.4 lacs.
    • For the self-employed, the minimum income specified by the banks and financial institutions is Rs.2 lacs.
  • Period of employment:
    • For salaried individuals, the minimum period of employment specified by the banks and financial institutions is 2 years.
    • For self-employed individuals, the minimum period of running business specified by the banks and financial institutions is 3 years.
    • For a limited company, the minimum period of existence specified by the banks and financial institutions is 2 years.

CIBIL Score and good track record:

  • You must have a good track record of clearing all your debts on time with zero default. Get your CIBIL score now!
  • You will get a loan amount with an EMI of not more than 50% of your net monthly income.
  • For some banks, you have to pay at least 15% – 20% of a car value as a down payment.
  • If you have other ongoing loans, it will decrease your eligibility.

Do you check every box? Then you have no reason to wait. Drive your dream car home today!

rated 4.0 /5.0
by 2853 users
Over 5,00,000 Happy Customers with loans & cards
Hdfc Bank CITI Bank ICICI Bank AXIS_BANK Bajaj Fin Serv Bank Magma Standard Chartered Bank Indusind Bank American Epress Bank DHFL SBI Card Tata Capital Fullerton Bank Credila HDFC TVS CREDIT SERVICES PNB Housing Finance Limited LIC HFL
Compare multiple options and choose the one that best suits you

Compare the best car loan offers in town and locate the lowest rates!

Offers to Compare
Over 25 offers to compare!

This is our forte- helping you compare the finest deals. Additionally, we'll handpick offers that suit your profile and present the best rates from several banks, so you can make a thoroughly-informed decision.

Breaking Down Offers
Breaking down offers

We're obsessed with giving you a 365 degree view of offers. So, we'll break it down for you - EMIs, eligibility, maximum amount that can be borrowed, fees, hidden charges... no more getting fooled by the fine print!

Why Apply Online
Cheaper than dealer

There's a good reason why thousands of customers choose BankBazaar- we're cheaper than most dealers. Best part- by applying here, you can get the lowest rates AND still demand all those freebies from your car dealer!

Cheaper then Dealer
Why apply online?

You don't have to fight for parking space! Jokes apart, applying online will help you save time and money; plus, you'll be able to use the services of our super-friendly customer service team at anytime and get all your queries answered.

Comparing Best Car Loans
Done comparing! Now what?

We showcase the best loan offers and help you compare them... what next? Well, we'll aid you in applying to the bank of your choice and work with you right up to the delivery of the loan!

Still have a gazillion questions?
Still have a gazillion questions?

Think of BankBazaar as your loan-savvy buddy! Our customer support team is at your service to clear doubts on eligibility, offers, procedures and documentation, and help you apply. They'll even co-ordinate with the bank to get you your loan on time.

Connect to the Bank
We'll connect you to the bank

We know the bank guys really well! So, if you want to talk to a bank representative or get help on your loan application, we won't just connect you to them; we'll also do the follow-up on your behalf.

Car Loan
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