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
    8.5% - 10% 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 available
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    8.90% Floating
    0
    1Cr Max
    7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon voucher free Paperless approval available
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    Eligibility Criteria
    13.1% - 15% Floating
    Up to 2%
    20K - 10L
    1-5 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon voucher free Paperless approval available
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    Eligibility Criteria
    8.80% Floating
    0
    1Cr Max
    7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon voucher free SPECIAL OFFER FOR WOMEN
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    8.75% - 11.50% Fixed
    Up to ₹5,500
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon voucher free
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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 free 100% financing on car value
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    Eligibility Criteria
    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 free Paperless approval available
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    11.40% Floating
    0
    35K - 25L
    5 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon voucher free
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    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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    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
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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
    What you'll love
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  • Bangalore Car Loan is Rated as "Great!" by 4862 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

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    Car Loan BYTES FROM OUR KITCHEN

    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 21 Oct 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

    Bangalore Car Loan Reviews

    • Bank Bazaar Car Loan
      "One stop solution"
      0.5 5.0/5 "Blown Away!"
      I have applied car loan via bank bazaar website. I known this website through one of my friend. It is easy to compare the interest rate with all the banks. The customer service and response was very good. The website was very user friendly. Overall experience was excellent.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 21, 2017
    • HDFC Bank Car Loan
      "Good response"
      0.5 5.0/5 "Blown Away!"
      The loan process with HDFC Bank was excellent. The customer service and response was good. The rate of interest was nominal and satisfactory and there is no processing fee.The documents collected by the executive at doorstep. I have taken a loan of 6.5lakhs with tenure of 5 years. The payment goes through ECS.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 21, 2017
    • Bank Bazaar Car Loan
      "Good finacial advisor"
      0.5 4.0/5 "Great!"
      Initial process of Bank Bazaar is really good for my car loan. They called me again and again and gave me proper follow up. I am using Bank Bazaar website its good to check the banking information, to calculate EMI etc. Its a good to place to check bank details, meanwhile Bank Bazaar should take care of post process.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 21, 2017
    • HDFC Bank Car Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      HDFC done good car loan process, I purchased Hyundai I 20, they sanctioned Rs.8.37 lakhs for the tenure period of seven years. I am asked them give flexible loan option to close the loan, but 24 months only I could close the loan without any charges. It would be great if bank coordinate with the car showroom dealer loan process get complete without any hassle.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 21, 2017
    • Bank Bazaar Car Loan
      "Good for the loan seeker"
      0.5 5.0/5 "Blown Away!"
      When I uploaded the application in Bank Bazaar, I got the call immediately. I applied the loan on non working but still I got response, your customer service executive helped me a lot on loan process. The website information is also good but I would like to suggest Bank Bazaar should provides the price of the car.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 21, 2017
    • HDFC Bank Car Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      I canceled online channel car loan in HDFC bank because I am residing far from Bangalore, exact location at in Kolar, Hence I thought to go head with nearest branch, HDFC bank response is good, they offered me nominal interest but they also disclosed about the processing fee.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 21, 2017
    • Bank Bazaar Car Loan
      "excellent service"
      0.5 5.0/5 "Blown Away!"
      It was only 3 months I know about Bankbazaar.com I use to check Bankbazaar.com website which was easy to navigate and user friendly website even the Bankbazaar.com customer service is good I will say the service of Bankbazaar.com is excellent .
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • HDFC Bank Car Loan
      "excellent service"
      0.5 5.0/5 "Blown Away!"
      The service from HDFC for my car loan service is not much as I expected from HDFC ,from the the date I applied for my loan there is no proper response I feel they need to improve their responsibility with the customer and also the customer service of HDFC should be improvised ,still the service from HDFC is excellent for my car loan service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • Bank Bazaar Car Loan
      "Easy to navigate"
      0.5 5.0/5 "Blown Away!"
      Bank Bazaar gave me direct service of bank and contact details to approach them and the coordination part is very good. Service of Bank Bazaar is also good they are prompt by their information. I am using online interface of Bank Bazaar its good and easy to navigate.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • HDFC Bank Car Loan
      "Good"
      0.5 4.0/5 "Great!"
      I didn't find the variant of the car, It was out of the model now the car company stopped manufacturing that car. Hence I have not finalized the car. Because of that I have dropped the plan. But in future I will go head for the car loan, Meanwhile HDFC is offering higher interest, hence I have plan to go head with Union bank. But HDFC service is very good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • Bank Bazaar Car Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      The services at Bankbazaar was good and the experience was really nice. They are very fast in the process as I got my loan within two days. The website is very clear and easy to follow as the options are clear and it is friendly too. The follow up calls are also good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • HDFC Bank Car Loan
      "Satisfactory services"
      0.5 4.0/5 "Great!"
      I have taken a car loan from HDFC Bank and the process was good. After submission of my documents they processed the loan on time and I got it through withing few days. The interest rate and processing charges was normal. I got a good deal of 8.75%.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • HDFC Bank Car Loan
      "Its Average"
      0.5 4.0/5 "Great!"
      Previously I took the car loan of Rs. 2 lakhs from HDFC for the tenure of three years. I have purchased Maruthi omni car, but I am not that much happy with their service .They taken long time and taken lot of charges for the car loan process it was not fair.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • Bank Bazaar Car Loan
      "Good website"
      0.5 5.0/5 "Blown Away!"
      I know bankbazaar.com from last 1 year, Bankbazaar provides good services on financial products. I came to know about bankbazaar through google, the customer service is excellent and prompt. The Website is easy to access and it is user friendly.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • HDFC Bank Car Loan
      "Good customer service"
      0.5 4.0/5 "Great!"
      I have applied for the car loan from HDFC bank, i did not take the loan because the offer was not good, the rate of interest is way high when compared to all other banks. So i dropped the plan to get a car loan. The customer service was good and resposive, they were in touch all the time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • Bank Bazaar Car Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar was very responsive to me and they and arranged a call back from the bank as well. I did not have to do anything from my end, except to register my details on the website and place a request. The process is fine and there are no hassles till the end.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • ICICI Bank Car Loan
      "High on ROI and charges"
      0.5 5.0/5 "Blown Away!"
      I requested ICICI Bank to close my request for the car loan as I got my vehicle by cash. The customer services and response is good. They were on time to contact me and inform me the details. The interest rate was around 9.25% and the processing charges was also on the higher side.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • Bank Bazaar Car Loan
      "excellent service"
      0.5 5.0/5 "Blown Away!"
      It have been a very good experience with Bankbazaar.com ,service is very nice compare to others in the market even I checked with the Bankbazaar.com website which is very helpful and useful to navigate and the customer service is good ,I will say the service of Bankbazaar.com is excellent.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • Capital First Car Loan
      "excellent service"
      0.5 5.0/5 "Blown Away!"
      The service from CAPITAL FIRST regarding my car loan service is excellent ,customer service was good and the response is nice I use to get regular followups and intimations regarding the loan process but I am not sure about the rate of interest and the documents because before that I closed my loan process because of my personal reason ,but the service is excellent.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • Bank Bazaar Car Loan
      "excellent service"
      0.5 5.0/5 "Blown Away!"
      It was only 2 months I know about Bankbazaar.com the service of Bankbazaar.com is very excellent I use to get regular followups from Banbazaar staffs also the customer service is good I will say the service of Bankbazaar.com is excellent.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
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