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 31 Bangalore Car Loan
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    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.40% - 10.35% 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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    13.1% - 15% Floating
    999 + applicable tax
    20K - 10L
    1-5 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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    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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    8.75% - 8.80% Fixed
    3,500 One time fee
    1L Min
    1-5 Years Tenure
    Response Time : Within 30 minutes
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    12% - 14% Fixed
    2,500 One time fee
    1L Min
    1-3 Years Tenure
    Response Time : Within 30 minutes
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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
    Rs.2,500 Amazon Voucher
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    8.75% - 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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    Perks
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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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  • Bangalore Car Loan is Rated as "Great!" by 5315 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 23 Jul 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

    • HDFC Bank Car Loan
      "Nothing Greater to say about HDFC"
      0.5 5.0/5 "Blown Away!"
      Processing fee was good in HDFC. I never spoke with the customer care service of HDFC. From the dealer end i have applied for the car loan. If you give all the documents properly, then i can get the loan easily. I have received the loan on time. They have provided me a interest rate of 9%. I have applied the loan amount of Rs. 5 lakhs.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2018
    • HDFC Bank Car Loan
      "Tension free card"
      0.5 5.0/5 "Blown Away!"
      I have purchased this card long time back around 15 years back. I have never called the customer care service as of now since i don't need to call them. There is no hidden charges for the card. Whenever it is necessary, i will use the card. I won't use the card often. They are not charging for the annual fee for the credit card. I never face any issue with the card so far.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2018
    • Indian Bank Car Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      Got my car loan from Indian bank , where the rate of interest is high of promising one They took few days for approval and documentation. Where i use to pay monthly through ECS for 5 years . They issued the Demand draft after that only they asked for sign for the approval . And there are no processing fees.Overall, I am satisfied with CAR loan from Indian bank.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jul 18, 2018
    • SBI Car Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      The process in getting the loan had been very good and the loan amount which they had provided had been satisfactory as well. The payments tenures has been for seven years and i had taken a loan amount of 5L. The rate of interest has been okay with them where it has been kept floating and it has been changing according to the market rate.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jul 17, 2018
    • HDFC Bank Car Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      Got my car loan from Hdfc bank , they did quick for documentation and approval . Rate of interest is nominal as that time it was OK when comparing to other banks .they gave tenure period of 7 years with processing fees . I paid Emi through Ecs , and there customer service and response is good.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 17, 2018
    • Axis Bank Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan with AXIS bank and my experience was very good, the loan amount was for Rs 3 lakhs out of which i paid Rs 2.15 lakhs and remaining 80000 is left out. The rate of interest of 11% is nominal rate and it is a new car. Customer support was good and they followed up on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 12, 2018
    • HDFC Bank Car Loan
      "Good Service"
      0.5 4.5/5 "Excellent!"
      I took a Car loan from the HDFC bank for 2 lacs, that is also closed, the interest rate was high initially and I discussed with the official about the low interest offering and finally they reduced the interest rate. Overall it has been a very good experience in taking car loan from the HDFC bank.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 11, 2018
    • SBI Car Loan
      "Interest rates are very less"
      0.5 4.0/5 "Great!"
      I have applied for a car loan services in SBI. But compared to other banks the car loan is very cheap ant they have offered me interest rate of 9.4%. I have visited the branch and the response is very good. They have given a break up for the car loan but i have never look up on it. I have just received the quotations. I have to submit the documents of basic things. There are no much documents required,
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 10, 2018
    • SBI Car Loan
      "Good"
      0.5 4.0/5 "Great!"
      My car loan was taken with SBI 1 year back. The loan amount was 10 lakhs and the interest rate was satisfactory . The tenure period was 5 years . The customer service and responses was good. The documentation was very smooth and there are no issues faced so far. They have sanctioned the loan within the time limit
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 10, 2018
    • HDFC Bank Car Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I had applied for a car loan with them and i was not much happy with the process which they had carried on. The process got delayed and because of that i have closed the application. Their customer support had not been that much responsive and there has not been a prompt service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 07, 2018
    • HDFC Bank Car Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      My car loan was taken with HDFC bank1 year back.The loan amount was 4,50,000 and the interest rate was satisfactory . The tenure period was 5 years . The customer service and responses was good. The documentation was very smooth and the staffs were very helpful.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 07, 2018
    • Bank Bazaar Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      For last quite some years am using Bank bazaar ,there is service and response is good. Bank bazaar website and mobile application is user friendly and hassle free to use. They helped me to choose the best card by explaining the features and benefits of credit card.they followed up every stage of process for approval.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 03, 2018
    • HDFC Bank Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have taken car loan from Hdfc bank . The rate of interest is high and am not satisfied with credit limit which they have provided. There are processing fees also which is too high and i have chosen the tenure period of 36 months . They gave loan for ex showroom car price. The pre closure charges are too high.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 03, 2018
    • review Car Loan
      "Average service"
      0.5 3.5/5 "Pretty good"
      I have taken car loan from Tata Capital first Am satisfied with the rate of interest which they have provided They did quick documentation process and approval Their customer service is average as there is no proper response from them. They provided the tenure period of 5 years where am making the payment through ECS . Overall am OK with my car loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 03, 2018
    • HDFC Bank Car Loan
      "Lethargic Fools"
      0.5 0.5/5 "Unacceptable"
      Availed a Car Loan from here with lots of efforts. Lots of efforts only because one of my documents had my old address. And the bank wants me to stay at current as well as my old residence. Loan term was wrongly updated which has not been corrected even in 2 months till date. The excess EMI is getting deducted every month and you have to sit hopelessly waiting for them to rectify their mistakes by paying extra from your pocket.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 02, 2018
    • SBI Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a car loan with SBI and my loan experience was good, i have taken a new car worth Rs 4.2 lakhs and my loan was approved on Ex-showroom price. The rate of interest was nominal when compared to other banks. Customer service was good and the tenure for this loan is 7 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 01, 2018
    • Bank Bazaar Car Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I am using bankbazaar services from last 3 years, the services provided by bankbazaar is good when compared to all other sources. Customer service was good with bankbazaar and their response was on time. The website of bankbazaar is easy to navigate and is user friendly.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 27, 2018
    • HDFC Bank Car Loan
      "Need to improve on customer service"
      0.5 1.0/5 "Really Bad"
      My experience with HDFC bank car loan was not good, they took long time to collect the documents. Customer service was not up to the mark and they did not provide any details of the loan. They did not give the original copy of the insurance. I have taken loan for Rs 3.75 lakhs with 8.9% interest which is nominal rate. The tenure for this loan is 2 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 27, 2018
    • Bank Bazaar Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My experience with bankbazaar was good so far, they provide good services when compared to all other sources in the market. Customer service was good with bankbazaar and their response was prompt. The mobile application of bankbazaar is easy to access and is user friendly.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 26, 2018
    • HDFC Bank Car Loan
      "Need to reduce charges"
      0.5 5.0/5 "Blown Away!"
      I have my car loan application approved with HDFC bank, the process was quick and i received my loan amount on time. Documents were pending from my side and the rate of interest of 13.5% was high. I expected the ROI to be 11%. Customer service was good and they followed up on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 26, 2018
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