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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    Bangalore Car Loan

    For owning a car in Bangalore buyers require to spend a lot of money. If you don’t have a huge amount in hand, you can finance the purchase with a car loan. Leading banks and NBFCs in Bangalore offer various affordable car financing options.

    We found 28 Bangalore Car Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.85% - 11.60% 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
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    13.50% - 14.50% 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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    Good To Know
    Eligibility Criteria
    12.75% - 15.50% 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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    Eligibility Criteria
    16% Floating
    1% One time fee
    50K - 15L
    1-4 Years
    Response Time : Within 30 minutes
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    Good to Know
    Eligibility Criteria
    12% - 13% Fixed
    1% One time fee
    50K - 10L
    1-4 Years
    Response Time : Within 30 minutes
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    Eligibility Criteria
    8.95% - 13.40% Fixed
    Up to ₹ 5,000 One time fee
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon Voucher
    What you'll love
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    9.15% Floating
    575 One time fee
    1L - 2Crs
    1-7 Years
    Response Time : Within 30 minutes
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    Eligibility Criteria
    11.50% Floating
    575 One time fee
    1L Min
    1-3 Years
    Response Time : Within 30 minutes
    What you'll love
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    9.05% Floating
    575 One time fee
    1L - 2Crs
    1-7 Years
    Response Time : Within 30 minutes
    SPECIAL OFFER FOR WOMEN
    What you'll love
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    Perks
    Fees & Charges
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    Eligibility Criteria
    9.55% Floating
    0.5% (min. ₹575)
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
    What you'll love
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    Perks
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    Good to Know
    12.05% - 12.25% Fixed
    0
    1L to 15L
    1-6 Years
    Response Time : Within 30 minutes
    Documents
    Perks
    Think about
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    Bangalore Car Loan is Rated as "Great!" by 5401 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 21 Jan 2019

    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

    • Central Bank of India Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It was a good experience i had with this loan and the loan amount which they had provided has been sufficient. The interest rate with them is quite nominal when compared with the market rate. There has not been any sort of additional charges which they had made so far.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 13, 2019
    • Capital First Car Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The process in getting my Car loan from them has been quite good and the process went smooth. The loan amount was sufficient but the interest rate with them has been quite high when compared with the market rate. Their customer support and their response has been good and has been helpful as well.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jan 10, 2019
    • Axis Bank Car Loan
      "Good Car Loan"
      0.5 4.0/5 "Great!"
      Purchased my car loan 4 years back. I have chosen the Axis bank because the rate of interest was less when i compared with others. I have taken a loan amount of Rs. 3.50 lakhs and the tenure period for the loan is 5 years. I have been paying the EMI of Rs. 8000. I have got the loan as per they have promised time.
      Was this review helpful? 4
      , bangalore
      Reviewed on Jan 07, 2019
    • Bank of Baroda Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It has been a good experience i had with this loan. The loan amount which they had provided has been sufficient and the interest rate with them has also been nominal, there has not been any sort of additional charges which they had made for this loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 07, 2019
    • HDFC Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my car loan with HDFC bank for long time , the loan amount they have charged me was sufficient, the rate of interest they have charged me was nominal, and the processing fee they have not charged me it was zero processing fee,overall service was good.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jan 06, 2019
    • SBI Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience was good with SBI, the loan amount was based on my requirement and the process was smooth. I am happy with the customer support and their response was good. Rate of interest was nominal and i have taken this car loan for 5 years.
      Was this review helpful? 5
      , bangalore
      Reviewed on Jan 03, 2019
    • TVS Credit Services Car Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      My car loan experience was not good with TVS credit, customer service was not good and there was no proper response. Tenure period for this loan is for 3 years and i preclosed the loan amount within 1.5 years. Rate of interest was high when compared to others.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 29, 2018
    • SBI Car Loan
      "Very Good loan"
      0.5 5.0/5 "Blown Away!"
      I bought my car loan from State bank of India. 3 years ago, i have got this loan. I pay the EMI amount of Rs.10,800 for the loan amount of Rs. 6.5 lakhs. I have chosen the tenure period of 7 years. The documentation process was quite simple and easy.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 24, 2018
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding car loan with HDFC bank since from 2004 ,the loan amount they have given me was sufficient,and the rate of interest they have been charing up to 6.5% which was nominal, and even there processing fee they had charged me was nominal, overall service was good.
      Was this review helpful? 5
      , bangalore
      Reviewed on Dec 20, 2018
    • ICICI Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It was quite a good experience i had with this loan where the loan amount has been sufficient and the interest rate with them has been nominal as well. The charges which they had made has been nominal and their customer support has been responsive as well.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 20, 2018
    • HDFC Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      My Car loan experience with them has been smooth and easy and the loan amount which they had provided has been sufficient and satisfactory. The interest rate with them has been nominal and there has been some charges which had been made by them as well.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 20, 2018
    • SBI Car Loan
      "Good in Service"
      0.5 4.0/5 "Great!"
      I was looking for car loan and thats when i went applying with SBI as i have a savings account in SBI. While applying there was not much documentation work and my request was processed on time. When it comes to interest charges, it is pretty much high. Hence the settlement of my loan has been done.
      Was this review helpful? 8
      , bangalore
      Reviewed on Dec 19, 2018
    • ICICI Bank Car Loan
      "Best service"
      0.5 4.0/5 "Great!"
      My car loan has taken with ICICI BANK , they charge nominal of interest rate in the market . The process was too smooth and fast i receive the loan within few days and it is best service i got . The tenure period is 5years . Customer service and their response is good with this bank .
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 15, 2018
    • State Bank of Mysore Car Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I have applied for the car loan with the STATE BANK OF MYSORE where the process is easy and simple to get the car loan for the new car. They have offered with the 10% of rate of interest with this bank which is satisfactory with this bank. I have cleared this loan and it is with good experience.
      Was this review helpful? 5
      , bangalore
      Reviewed on Dec 14, 2018
    • HDFC Bank Car Loan
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      I have taken the used car loan with the HDFC BANK where the service is not that much satisfied added on that i have applied for the car loan which is for the used car. The rate of interest what they charges is 14% which is higher than others.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 14, 2018
    • ICICI Bank Car Loan
      "Good car loan with ICICI"
      0.5 5.0/5 "Blown Away!"
      I bought my car loan around April. I have got the loan amount of Rs. 10 lakhs. The documentation process was very easy. The total tenure period of the loan is 10 years. I have been paying the EMI of Rs. 15000. Within a week i have received the car loan. I make the payment through ECS.
      Was this review helpful? 4
      , bangalore
      Reviewed on Dec 13, 2018
    • SBI Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan with SBI and my experience was good, it was a new car and the loan amount was for Rs 7.6 lacs with nominal interest rate when compared to others. Customer service was good and the tenure period is 5 years.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 11, 2018
    • ICICI Bank Car Loan
      "Very Easy process"
      0.5 5.0/5 "Blown Away!"
      ICICI bank provides the best banking solutions. 1 year i have purchased the care loan. I got the loan amount of Rs. 4.50 lakhs. Within 3 days, i have received the loan amount. I pay the premium amount of Rs. 30500 and i have chosen the tenure period of 36 months. The documentation process was also very easy.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 11, 2018
    • SBI Car Loan
      "Transparency should be easy process"
      0.5 3.0/5 "Satisfactory"
      My car loan with SBI, when I took the loan they quoted 9.55% at finally they changed around 13%, suddenly they increase the interest at the closure not even they intimated. The duration for 5 years , even after that they ask me pay at the remaining amount, even paper work is tough.
      Was this review helpful? 3
      , bangalore
      Reviewed on Dec 07, 2018
    • Kotak Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have taken the card loan with the KOTAK MAHINDRA BANK where the process of getting the loan is good added on that the process is easy to get this loan. The rate of interest is nominal and the duration is for 4 years to repay the loan. The loan amount they haev given is satisfactory.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 07, 2018
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