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 34 Bangalore Car Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    13.1% - 15% Floating
    0
    20K - 10L
    1-5 Years
    Response Time Within 30 minutes
    Ad Rs.2,500 Amazon voucher free Paperless approval option available
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    Eligibility Criteria
    9.10% - 15% Fixed
    Up to ₹ 6,153 One time fee
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
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    Eligibility Criteria
    8.95% Floating
    ₹500 to ₹7000 + applicable tax
    1Cr Max
    7 Years
    Response Time Within 30 minutes
    Paperless approval option available
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    Eligibility Criteria
    9.50% - 11% Fixed
    2,500 One time fee
    1L Min
    1-5 Years Tenure
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
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    8.25% - 9% Fixed
    Up to ₹4,720 One time fee
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free PAPERLESS APPROVAL OPTION AVAILABLE
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    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 free 100% financing on car value
    What you'll love
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    Eligibility Criteria
    8.75% - 11.50% Fixed
    Up to ₹5500
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
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    Eligibility Criteria
    13.50% - 15% Fixed
    Up to ₹5,310 One time fee
    75K Min
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free Paperless approval option available
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    Eligibility Criteria
    9.15% - 9.30% Floating
    575 One time fee
    1L - 2Crs
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
    What you'll love
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    Eligibility Criteria
    16% Floating
    1% One time fee
    50K - 15L
    1-4 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
    What you'll love
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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    12% - 14% Fixed
    2,500 One time fee
    1L Min
    1-3 Years Tenure
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
    What you'll love
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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.85% Floating
    ₹500 to ₹7000 + applicable tax
    1Cr Max
    7 Years
    Response Time Within 30 minutes
    SPECIAL OFFER FOR WOMEN
    What you'll love
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  • Bangalore Car Loan Reviews

    • HDFC Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Initially HDFC bank has promised me some thing around 8% of interest rate in concern to my car loan but they have disclosed my loan with 8.65% . They need to stick on their promises. The customer service and the response part was good with Hdfc bank. Within 3 days of time they have disbursed the loan. The rate of interest is low when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Initially HDFC bank has promised me some thing around 8% of interest rate in concern to my car loan but they have disclosed my loan with 8.65% . They need to stick on their promises. The customer service and the response part was good with Hdfc bank. Within 3 days of time they have disbursed the loan. The rate of interest is low when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The Service is really good with bank bazaar, because within a hour of time I got the call from bank bazaar executive . The place where we can know about all financial products in the market. I came to know about bank bazaar through promotional mails. I am with bank bazaar for more than 3 years. The website of bank bazaar need to specified by differentiating the products. The bank bazaar has offered me a satisfactory service.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 19, 2017
    • Dena Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I didn't got the response from Dena bank when I was in need of car loan , so that was the reason I haven't got the loan with Dena bank. The customer service and the response was good with Dena bank. The rate of interest is low with Dena bank and there was zero processing fee offer with Dena bank car loan. The timelines needs to be specified with Dena bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • Bank Bazaar Customer Support
      "Very Good service"
      0.5 4.0/5 "Great!"
      The best part I like about bank bazaar is their response , because I got immediate response from bank bazaar in concern to my car loan application. The customer service and the response is really good with bank bazaar. The web site with bank bazaar is easy to use and user friendly. The mobile application of bank bazaar is really helpful and supportive.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 18, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 2.5/5 "Just OK"
      The HDFC bank executive told that they can do the commercial car loan vehicle only if I am having 5 cars in my name. So that was the reason I haven't got the loan with HDFC bank. The customer service and the response was average with HDFC bank. The rate of interest is nominal with HDFC bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 18, 2017
    • SBI Car Loan
      "Super fast process & good deal on ROI"
      0.5 5.0/5 "Blown Away!"
      State Bank of India has been excellent in the process for the car loan. After I submitted my papers at the bank, it took a day to process the same. A super fast process and the interest rate was of 8.75% with nominal charges. The after loan services are also good.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jul 13, 2017
    • Bank Bazaar Customer Support
      "Overall good experience"
      0.5 4.0/5 "Great!"
      The services from Bankbazaar has been good and the overall experience is nice. As I started to receive calls as soon as I registered on to the website. It would have been better if I got more than one option to choose from. There could be more banks listed with a lesser interest rate.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 13, 2017
    • Dena Bank Car Loan
      "Higher on ROI"
      0.5 4.0/5 "Great!"
      Since I got a better offer from another bank. I did not go ahead with Dena Bank for the car loan. Dena Bank was offering me a interest rate of around 9.15% and the processing charges was also higher. But the customer services was good and the response was on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 13, 2017
    • Bank Bazaar Customer Support
      "Good. Can do better"
      0.5 3.0/5 "Satisfactory"
      The services provided by bankbazaar is really good as they contacted me as soon as I place a request for the car loan. It would have been better if there is more coordination with the banks to help the customer get connected with the bank without hassles. Overall the nice it is a site to deal with.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 13, 2017
    • Axis Bank Car Loan
      "Not Satisfied with the services"
      0.5 1.0/5 "Really Bad"
      I had applied for a car loan with Axis Bank through a online channel. The bank has not contacted me after they received the details. It was a complete zero response. It has not been a good experience. The bank could have acknowledged my details at least to check on my requirement and let me know if the process could happen or not.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 13, 2017
    • YES Bank Car Loan
      "Very Good service"
      0.5 4.0/5 "Great!"
      Within 2 days of time the Yes bank has disbursed my car loan. The required loan amount has been approved and disbursed and I am happy with their services. The customer service and the response provided by YES bank is good. The rate of interest is low with Yes bank. I am very much happy with the service provided by YES Bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 11, 2017
    • Bank Bazaar Customer Support
      "Very Good service"
      0.5 4.0/5 "Great!"
      Very recently before 2 months I got to know about this site Bankbazaar through television advertisements. The customer service and the response is good with bank bazaar. The mobile application of bank bazaar is very much easy to use and user friendly. I am satisfied with bank bazaar service in all.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 11, 2017
    • Bank Bazaar Customer Support
      "Good service"
      0.5 4.0/5 "Great!"
      I got to know about bank bazaar through google web search. I am with bank bazaar for past 2 years. I have applied car loan through bank bazaar web site, which is easy to use and user friendly. The customer service and the response with bank bazaar is really good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 10, 2017
    • Axis Bank Car Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The axis bank car loan rate of interest is high when compared with other banks, so that was the reason I haven't proceed with axis bank, the customer service and response and the response was good with axis, so axis executive gave a call and explained me about the product, The service which was provided by AXIS Bank was really good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 10, 2017
    • Axis Bank Car Loan
      "Excellent Service"
      0.5 3.5/5 "Pretty good"
      It was a nice experience with Axis bank, I had applied for a car loan, I received a prompt reply from them the rate of interest was around 9.25% the loan amount I applied for 10 lakhs and I have received 9.25 lakhs and the EMI is around 18697/- loan got processed with in 4 to 5 days.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 09, 2017
    • Bank Bazaar Customer Support
      "Good Service"
      0.5 4.0/5 "Great!"
      I am happy with the services of Bankbazaar as they contacted me when ever I requested them too which was helpful as I was able to communicate properly. The calls were on a regular basis and the website has also been pretty good and useful too...
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 09, 2017
    • Dena Bank Car Loan
      "Average Service"
      0.5 2.5/5 "Just OK"
      Dena bank contacted me for the car loan request and they even told that they will arrange a executive to come and collect the documents but no one turned up the loan amount I applied for 8.5 lakhs and the Rate of interest was 9.15%
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 09, 2017
    • Bank Bazaar Customer Support
      "Easy to use"
      0.5 4.0/5 "Great!"
      Bank Bazaar is a good option, I got better choices from them. The best part of Bank Bazaar, there are lot of options that one benefit the customers. We don't want to go for bank website to choose the best. From Bank Bazaar guys I got a good support and it is very much customer satisfactory.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 06, 2017
    • Capital First Car Loan
      "Interest rate should be reduced"
      0.5 3.0/5 "Satisfactory"
      First thing Capital First rate of interest was high and also I was absolutely looking for personal loan. Because If I look for car loan for reused car, the loan interest rate was high. Even I requested Capital First to reduce the interest rate, but they not come up the level what I expected , hence I dropped.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 06, 2017
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    Bangalore Car Loan is Rated as "Great!" by 4362 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Car Loan BYTES FROM OUR KITCHEN

    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 23 Jul 2017

    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 atleast 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 atleast 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.

    Check For Latest: Gold Rate in Bangalore Or Silver Rate in Bangalore
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