If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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    We found 28 Bangalore Car Loan
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    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.40% - 11.10% Fixed
    Up to ₹4,720 One time fee
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon Voucher 100% PAPERLESS APPROVAL
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    8.60% - 11.50% Fixed
    Up to ₹5,500
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
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    Eligibility Criteria
    12.5% - 14.5% Floating
    2% One time fee
    1.5L - 25L
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon Voucher 100% financing on car value
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    12% - 15.5% Fixed
    Up to ₹5,310 One time fee
    75K Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon Voucher 100% PAPERLESS APPROVAL
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    16% Floating
    1% One time fee
    50K - 15L
    1-4 Years
    Response Time : Within 30 minutes
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    12% - 13% Fixed
    1% One time fee
    50K - 10L
    1-4 Years
    Response Time : Within 30 minutes
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    8.80% - 13% Fixed
    Up to ₹ 5,000 One time fee
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon Voucher
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    9.15% Floating
    575 One time fee
    1L - 2Crs
    1-7 Years
    Response Time : Within 30 minutes
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    11.50% Floating
    575 One time fee
    1L Min
    1-3 Years
    Response Time : Within 30 minutes
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    Eligibility Criteria
    9.05% Floating
    575 One time fee
    1L - 2Crs
    1-7 Years
    Response Time : Within 30 minutes
    SPECIAL OFFER FOR WOMEN
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    9.55% Floating
    0.5% (min. ₹575)
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
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    12.05% - 12.25% Fixed
    0
    1L to 15L
    1-6 Years
    Response Time : Within 30 minutes
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  • Bangalore Car Loan is Rated as "Great!" by 5357 Users

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    Bangalore Car Loan

    Bangalore also known as Bengaluru, is the capital of the Indian state of Karnataka. It is India's third-largest city.In recent years, Bangalore propelled to be the forefront of the high-tech industry boom in India, and it currently ranks as India's most developed city and one of the world's fastest growing urban areas.

    About Car Finance: Personal Car Finance is a complete subsector of personal finance, with numerous different products available. These include a straightforward car loan, hire purchase, personal contract hire (car leasing) and Personal Contract Purchase. Therefore, car finance includes, but is not limited to, vehicle leasing. These different types of car finance are possible because of the high residual value of cars and the second-hand car market, which enables other forms of financing beyond pure unsecured loans.


    You’re probably eligible for an Bangalore Car Loan if you are

    01
    02
    03
    04
    Bangalore Car Loan Minimum Age

    At least 21 years old

    Bangalore Car Loan Maximum Age

    Less than 67 years old

    Bangalore Car Loan Eligible Employment Type

    Salaried / Self – Employed
    with regular income

    Bangalore Car Loan Minimum Income

    Earn more than the minimum
    income required


    Your Bangalore Car Loan amount eligibility is based on these factors

    01
    02
    03
    Bangalore Car Loan Minimum Salary

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

    Bangalore Car Loan Maximum Loan to Value

    Loan capped @
    85% Ex-Showroom price

    Bangalore Car Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Bangalore Car Loan amount by these steps

    01
    02
    Bangalore Car Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    Bangalore Car Loan Maximum Tenure

    Choose longer tenure loan up to 5 years


    Documentation needed to apply for an Bangalore Car Loan

    • 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

    Bangalore Car Loan Interest RatesUpdated on 20 Nov 2018

    Bangalore 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

    Car loans in Bangalore

    Owning a car is a style statement these days and every second person belonging to the urban population feels that having a car of their choice is now a necessity. In accordance to this growing need, Indian banks have been competing with each other to provide the best car loans at the most affordable cost with a whole bundle of benefits. Car dealers have been teaming up with insurance companies to provide package car deals as this is the much selected option amongst the young population. Owning a car in Bangalore is not a great hassle. Select the model of the car, get the quote from a dealer, apply for a car loan and buy the car of your choice. Simple!

    Top banks providing car loans in Bangalore

    Based on this demand, leading Indian banks have their presence in Bangalore providing competitive car loan schemes at excellent interest rates, low monthly installments and higher loan amount eligibility. The top banks that offer the best car loan interest rates in Bangalore are as follows -

    HDFC Bank car loan – HDFC offers excellent interest rates on car loans in Bangalore. The rates range from 10.75% to 12.50% per annum with HDFC offering car loans with one of the fastest processing procedures in the city.

    State Bank of India car loan – As one of the oldest banking institutions in India, State Bank of India offers the lowest interest rate on car loans in Bangalore with different interest rates for men and women. The bank charges 10.45% per annum for men and 10.40% per annum for women.

    Bank of Baroda car loan – Bank of Baroda provides car loans at an interest rate of 10.50% per annum irrespective of the loan tenure in Bangalore. The car loan scheme from Bank of Baroda also features the unique option of including the facility for installation of CNG / LPG gas kits in new cars.

    Canara Bank car loan – Canara Mobile from Canara Bank is an affordable car loan scheme with excellent benefits, including an interest rate of just 10.70% per annum.

    Corporation Bank car loan - In Bangalore, Corporation Bank offers car loans with two interest rates – 10.75% for new car loan amounts up to Rs 50 Lakhs and 11.25% for new car loan amounts above Rs 50 lakhs.

    Kotak Mahindra car loan – Kotak Mahindra Bank finances up to 90% of the ex- showroom price of the purchased car with flexible payment options at an interest rate of 11.50% to 13.50% per annum.

    Axis Bank car loan – Axis Bank offers cost-effective and flexible car loan schemes in Bangalore at an interest rate of 11.50% per annum.

    ICICI Bank car loan – ICICI bank provides car loans in Bangalore with different interest rates for different loan tenures. For a loan tenure up to 23 months, the interest rates are 12.75% to 15.00% per annum. For loan tenures ranging from 24 to 35 months, the interest rates are 12.20% to 14.50% per annum and 10.75% to 12.50% per annum for loan tenures ranging from 36 months to 84 months.

    Bank of India car loan – Bank of India offers car loans in Bangalore at an attractive interest rate of 10.65% per annum. The Bank of India Star Vehicle loan scheme comes with a whole bundle of add-on benefits and features.

    Federal Bank car loan – Federal bank provides car loans with fixed and floating interest rates. The floating rates that apply are calculated as base rate plus 0.70% to 2.05%. The fixed interest rate is 0.25% above the floating interest rate.

    Age criteria for availing a car loan in Bangalore

    Any salaried individual looking to avail a car loan in Bangalore should be 25 years and above at the time of application. Additionally at the time of maturity of the car loan, the individual’s age should not be more than 58 years.

    For self-employed professionals, partnership firms, private and public limited companies, any partner, proprietor or professional should be 28 years while applying for the car loan and 65 years at the time of maturity. Limited companies should have established themselves in Bangalore for at least three years.

    Income criteria for car loans in Bangalore

    Salaried professionals should have a gross annual income of Rs 4 lakhs with a total employment stability of more than two years, with one year in their current organization for qualifying for car loans in Bangalore.

    Businessmen need to have three years of stable work establishment with a gross annual income of at least Rs 2.5 lakhs. Partnership firms and public/private limited companies should show a minimum profit of Rs 2.5 lakhs to be eligible for a car loan.

    Documents required for a car loan in Bangalore

    The documents that an individual requires to submit while applying for a car loan in Bangalore are as follows:

    As proof of identity the mentioned documents are accepted - Passport copy, PAN card, driving license and voter’s ID card.

    As address proof, these are the documents that need to be submitted – Driving license, ration card, Voter’s card, passport copy, electricity bill, telephone bill, life insurance policy and PAN card.

    The last six months bank account statements and proofs for verification of signature also need to be submitted by the applicants.

    Proof of Income

    While applying for a car loan on Bangalore, salaried professionals need to submit their latest pay slips along with the last two years Form 16 and income tax returns documents.

    Self-employed professionals have to submit their income tax returns filed for the previous two years as proof of their income.

    Partnership firms, societies and corporate companies have to also submit their income tax returns filed for the previous two years along with their financial and audit reports as income proofs.

    Reasons to Apply for Car Loan through BankBazaar

    You wouldn’t have to take the hassle of using a public transport and waste your valuable money and time when you can easily purchase the car of your choice and save big in the long run. If you are worried about the expenses of a car purchase, there are numerous car loan providers in Bangalore and that offer low-interest car loans in order to help you buy the car of your dreams. Furthermore, multiple car dealers are joining hands with insurance providers to help their customers realise their dream of owning a car.

    However, before you apply for a car loan, you should check your equated monthly installment (EMI) beforehand so as to be able to manage your finances better. Through BankBazaar, you can check and compare the car loans offered by all the lenders in Bangalore and choose a plan that suits your requirement and situation.

    There are a number of reasons why you should apply for your car loan through BankBazaar. Read further to find out how you can benefit by applying for a loan through BankBazaar.com:

    • The interface of the car loan EMI calculator available at BankBazaar.com is not only simple and user friendly, but also provides accurate and reliable results for the benefit of the customers.
    • Customers can compare the rates offered by an array of banks and non-banking financing companies (NBFCs) based on their specific requirement. Then, they can select the one that suits their need and repayment capacity the best.
    • BankBazaar has tie-ups with various top banks and NBFCs in order to help customers get the lowest interest possible. Additionally, candidates applying for a car loan through BankBazaar might also get special offers and discounts that are not available elsewhere.
    • Individuals can check the detailed information regarding a particular car loan at BankBazaar.com such as the maximum quantum of loan, rate of interest, loan tenure, eligibility criteria, prepayment options, etc. This helps borrowers understand the terms of the loan and make an informed decision.
    • Candidates can get instant quotes at BankBazaar.com in terms of the monthly payable installments towards a particular loan amount, repayment tenure, and interest rate. This helps applicants understand how the loan will progress over the years and manage their finances accordingly.
    • BankBazaar values the privacy of its customers, thus, gives every effort to protect the data that they enter anywhere in website. Customers can remain assured that the data they are entering will not be disclosed to any third party for any promotional purposes.
    • Since BankBazaar is not a mediator, it provides its customers impartial information and transparent processes so that they can make the right choice without any confusion.

    Calculating Car Loan EMI at BankBazaar.com

    The calculation of car loan EMI beforehand is one of the most crucial steps of the entire loan application process. By checking your amount of monthly installments will not only improve your chances of getting your loan approved, but can also help you manage your finances better and keep you from defaulting. This is extremely useful to maintain a good credit score for any future loan application. See the steps mentioned below to learn how you can calculate your car loan EMI at BankBazaar.com:

    • Go to the homepage of BankBazaar’s official website
    • Next, click on ‘Finance Tools’ from the menu under ‘Trending Products’
    • You will be redirected to the ‘EMI Calculator’ page
    • Select ‘Car Loan EMI Calculator’ from the options available on the page
    • To calculate the EMI, you can adjust the scales to choose the loan amount and tenure
    • Then, enter the interest rate and processing fee charged by the concerned lender in percentage
    • Enter ‘Yes’ or ‘No’ to choose whether you want to opt for loan prepayment option
    • Once you select ‘Yes’, a small form pops up below the calculator
    • Enter the required details regarding the prepayment
    • Click on ‘Calculate’ to see your EMI amount, loan breakup, and an amortization table depicting the progress of your loan over the years

    Bangalore Car Loan Reviews

    • Federal Bank Car Loan
      "Immediate"
      0.5 4.0/5 "Great!"
      I have a Car Loan with Federal Bank. They offered me a interest rate of 9% which am satisfied. The loan duration is 5 years and till now 3 to 4 months completed. I have purchased a New car. The process was immediate and the disbursement was happened within 3 days.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 19, 2018
    • SBI Car Loan
      "GOOD SERVICE"
      0.5 5.0/5 "Blown Away!"
      I have applied for the card loan with the STATE BANK OF INDIA where the process is very good and simple to get the loan as well as the loan amount is sufficient from this bank added on that the rate of interest is nominal when compared to the others.
      Was this review helpful? 3
      , bangalore
      Reviewed on Nov 16, 2018
    • Axis Bank Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My experience was good with AXIS bank for car loan, the loan amount was based on my requirement and the rate of interest was nominal when compared to others. Customer service was good with AXIS bank and the tenure period for this loan is 5 years.
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 16, 2018
    • SBI Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a good experience i had in getting my car loan from State Bank of India. The loan amount which they had provided has been sufficient and there has not been any additional charges and the processing fee has been nominal. The interest rate with them has also been affordable as well.
      Was this review helpful? 2
      , bangalore
      Reviewed on Nov 09, 2018
    • HDFC Bank Car Loan
      "Good card"
      0.5 4.0/5 "Great!"
      My credit card was taken with HDFC BANK , they offered very decent credit limit and i ma satisfied with that . The card have some charges but it will be waive off if i cross minimum amount . I got this card because it is very easy to get this card this is my 1st card .
      Was this review helpful? 4
      , bangalore
      Reviewed on Nov 01, 2018
    • review Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been applied my car loan from BAJAJ FINANCE, i got car loan through show room only as they have provided me , i never face any difficulty till now and they have not charged any processing fee in this loan and no rate of interest is charged , so in whole i have experience good.
      Was this review helpful? 4
      , bangalore
      Reviewed on Nov 01, 2018
    • Bank Bazaar Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It had been a good experience i had with Bank Bazaar and after i had applied for a Car loan they had called. I had been using their mobile application and it had been easy in using it. I had been using the application to check the credit scores, gold rates and fuel rates. Their customer support had been responsive and had made good follow ups.
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 30, 2018
    • ICICI Bank Car Loan
      "Not satisfied with the service"
      0.5 1.0/5 "Really Bad"
      I had chosen to go with them since i already had an existing loan with them. The process has been smooth and easy and there has not been any hassle faced. The interest rate with them has been nominal and there has been some processing fee has been there, but they did not explain me with any of the charges.
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 30, 2018
    • SBI Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My car loan is with State Bank of India. The process to get the loan is fine and there are no hassles in the process. The documents was a on time process. The rate of interest and processing charges is normal. Overall it has been a good experience.
      Was this review helpful? 2
      , bangalore
      Reviewed on Oct 27, 2018
    • HDFC Bank Car Loan
      "Good card"
      0.5 4.0/5 "Great!"
      My credit card was taken with HDFC BANK , there is joining fee at the time of getting the card but if i cross particular amount the fess will be waive off . I use this card for various purpose . I never had any issues with their services. Overall this card is as useful as any other cards you can find in the market.
      Was this review helpful? 4
      , bangalore
      Reviewed on Oct 25, 2018
    • Volkswagen Finance Car Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It was a good experience i had with this loan where the process in getting this loan has been hassle free. The loan amount whcih they had given has been satisfactory and the interest rate also had been nominal when compared with the market rate and there has not been any additional charges made by them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 25, 2018
    • SBI Car Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am using the car loan from last 1year with the STATE BANK OF INDIA. The process is good also it is quick process added on that the service is good also the loan amount is good. The rate of interest is lesser comparatively, loan has to be paid but there are no pre closer charges here.
      Was this review helpful? 4
      , bangalore
      Reviewed on Oct 18, 2018
    • HDFC Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a very good experience i had with this Car loan and the loan amount which they had provided had been satisfactory and has been sufficient. It was a fast process and did not took any delay in the disbursement, the interest rate with them has also been nominal when compared with the market rate. It has been a hassle free experience overall.
      Was this review helpful? 4
      , bangalore
      Reviewed on Oct 09, 2018
    • HDFC Bank Car Loan
      "GOOD CARD"
      0.5 4.0/5 "Great!"
      HDFC credit card too i m using i dont have idea about annual fee they charge and i am not much satisfied with my credit limits as i had expected a bit higher but i didnt got as per my expectation , customer support team service is also good and there service is running smoothly and this card is multiple use only.
      Was this review helpful? 4
      , bangalore
      Reviewed on Oct 01, 2018
    • SBI Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It was a really good experience i had with them and the loan got approved within a day. Everything had been good with them and they had helped me in the documentation. The manager over there had helped me a lot where she had personally helped a lot during the process in getting this Car Loan. There has not been any hassle faced with their services.
      Was this review helpful? 3
      , bangalore
      Reviewed on Sep 25, 2018
    • Bank Bazaar Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I know bankbazaar.com from last 4 years, my experience was good so far with bankbazaar. Mobile application of bankbazaar is easy to use and is user friendly. Customer service is good with bankbazaar but their response is not up to the mark.
      Was this review helpful? 4
      , bangalore
      Reviewed on Sep 12, 2018
    • TVS Credit Services Car Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      The process was very slow with car loan application from TVS credit, it took 15 days for the loan amount to receive. The loan amount was for Rs 3.7 lacs with the tenure period of 5 years. Rate of interest was nominal when compared to others. Customer service was good and they responded on time.
      Was this review helpful? 4
      , bangalore
      Reviewed on Sep 12, 2018
    • Bank Bazaar Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I am using the services of bankbazaar from last 2 years, the services provided by bankbazaar is good when compared to others in the market. Customer service was good and their response was on time. Mobile application of bankbazaar is easy to access and is user friendly.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 12, 2018
    • TVS Credit Services Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The process took 1 week to complete and my car loan experience was good, documents were not yet sent. The loan amount was for Rs 5 lacs with nominal interest rate when compared to others. Customer service was good and they responded on time. The tenure period for this loan is 5 years.
      Was this review helpful? 3
      , bangalore
      Reviewed on Sep 12, 2018
    • Bank Bazaar Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I am using the services of bankbazaar from last 2-3 years, my experience was good so far with bankbazaar. Customer service was good and they responded on time. I am using both mobile application and website, it is easy to use and is user friendly. Too many calls from bankbazaar should be avoided.
      Was this review helpful? 4
      , bangalore
      Reviewed on Sep 08, 2018
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