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% - 11.10% Fixed
    Up to ₹4,720 One time fee
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon Voucher 100% PAPERLESS APPROVAL
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    13.1% - 15% Fixed
    1999
    50K - 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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    Eligibility Criteria
    12.5% - 14.5% Floating
    2% One time fee
    1.5L - 25L
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon Voucher 100% financing on car value
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    12% - 15.5% Fixed
    Up to ₹5,310 One time fee
    75K Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon Voucher 100% PAPERLESS APPROVAL
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    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
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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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    Eligibility Criteria
    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 5342 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 24 Sep 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

    • Bank Bazaar Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I know bankbazaar.com from last 4 years, my experience was good so far with bankbazaar. Mobile application of bankbazaar is easy to use and is user friendly. Customer service is good with bankbazaar but their response is not up to the mark.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 12, 2018
    • TVS Credit Services Car Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      The process was very slow with car loan application from TVS credit, it took 15 days for the loan amount to receive. The loan amount was for Rs 3.7 lacs with the tenure period of 5 years. Rate of interest was nominal when compared to others. Customer service was good and they responded on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 12, 2018
    • Bank Bazaar Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I am using the services of bankbazaar from last 2 years, the services provided by bankbazaar is good when compared to others in the market. Customer service was good and their response was on time. Mobile application of bankbazaar is easy to access and is user friendly.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 12, 2018
    • TVS Credit Services Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The process took 1 week to complete and my car loan experience was good, documents were not yet sent. The loan amount was for Rs 5 lacs with nominal interest rate when compared to others. Customer service was good and they responded on time. The tenure period for this loan is 5 years.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 12, 2018
    • Bank Bazaar Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I am using the services of bankbazaar from last 2-3 years, my experience was good so far with bankbazaar. Customer service was good and they responded on time. I am using both mobile application and website, it is easy to use and is user friendly. Too many calls from bankbazaar should be avoided.
      Was this review helpful? 4
      , bangalore
      Reviewed on Sep 08, 2018
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It was a good experience with HDFC bank for car loan, the process took 1 week to complete and the rate of interest was nominal when compared to others. The loan amount was for Rs 6.9 lacs for 7 years. Customer service was good and they collected documents on time.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 08, 2018
    • Bank Bazaar Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar provides best services when compared to others in the market. Customer service was good with bankbazaar and they responded on time. I am using the website of bankbazaar from last 2 years, it is easy to navigate and is user friendly to use.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 08, 2018
    • HDFC Bank Car Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      My car loan application was approved with HDFC bank and the experience was good, the process took 1 week to complete and the customer service was very good and they responded on time. Rate of interest was nominal and the loan amount was for Rs 10.5 lacs with tenure period of 5 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 08, 2018
    • Ford Finance Car Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      I have taken a car loan with Ford credit and my loan experience was good, the process was quick and i received my loan amount on time. My loan was approved based on the on-road price. Customer service was good and the rate of interest was nominal. The tenure period for this loan is 5 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 06, 2018
    • Axis Bank Car Loan
      "Good "
      0.5 4.0/5 "Great!"
      I have taken car loan for the Axis bank . They have provide nominal rate of interest of 10.75 even they have reduced the rate of interest based on the market price where there is no processing fee . They have give tenure period of 4 years . Making the payment through easy monthly installment .
      Was this review helpful? 3
      , bangalore
      Reviewed on Sep 04, 2018
    • HDFC Bank Car Loan
      "Good Service"
      0.5 4.5/5 "Excellent!"
      I have taken car loan from the HDFC bank for 170000, the expereince was very good. The interest rate was fine. The application process was easy and hassle free. They do not have any unwanted charges associated with the loan. It has been a very good experience with the HDFC bank.
      Was this review helpful? 8
      , bangalore
      Reviewed on Aug 31, 2018
    • SBI Car Loan
      "Best Service"
      0.5 4.5/5 "Excellent!"
      I had a very nice experience with car loan from SBI, the process was smooth and i received my loan amount on time. The loan amount was sufficient and the rate of interest was fine. I am happy with the customer service of SBI and the tenure period is 7 years.
      Was this review helpful? 7
      , bangalore
      Reviewed on Aug 29, 2018
    • Axis Bank Car Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan from the AXIS bank for 3.5 Lacs, the interest rate was normal market rate. The processed and sanctioned the application with in 2 days. It was also a very good experience. The customer support was also really helpful during the process.
      Was this review helpful? 4
      , bangalore
      Reviewed on Aug 29, 2018
    • HDFC Bank Car Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have a credit card from Hdfc bank, I have no problem with the card that I am holding, it is good. The limit they have offered me is Rs. 60,000 it could have been better if they have offered me more. However over all the card is good and the services, I am happy with it.
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 25, 2018
    • SBI Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My car loan experience was good with SBI, the loan amount was for Rs 8 lacs with nominal interest rate when compared to other banks. My loan was approved based on the on road price. The tenure period for this loan is for 7 years out of which 2 years is already completed.
      Was this review helpful? 4
      , bangalore
      Reviewed on Aug 21, 2018
    • HDFC Bank Car Loan
      "Good"
      0.5 4.0/5 "Great!"
      My car loan was taken with HDFC bank 1.5 months back. The loan amount was 10 lakhs and the interest rate was very high here so I am planning to pre close it but the pre closer charges are very high and it can be done only after 6 months. Their service and responses was good. I had a hassle free documentation here but th processing fee is too high
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 17, 2018
    • Canara Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My home loan was taken with CANARA BANK 20 years back. The loan amount was 10 lakhs and the interest rate was satisfactory . The tenure period was 15 years . The customer service and responses was very good. The documentation was very smooth,
      Was this review helpful? 2
      , bangalore
      Reviewed on Aug 14, 2018
    • SBI Car Loan
      "Good"
      0.5 4.0/5 "Great!"
      My car loan was taken with SBI 2 years back.The loan amount was 6 lakhs and the interest rate was satisfactory . He tenure period was 5 years.There is no issues faced with the service here. The customer service and responses was up to the mark. There is no processing fee at all.
      Was this review helpful? 12
      , bangalore
      Reviewed on Aug 14, 2018
    • HDFC Bank Car Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      My car loan was taken with HDFC bank 2 days back. The loan amount was 6 lakhs and the Interest rate was 14.5% which see bit high . The tenure period was 5 years. The customer service and responses was very good. They have sanctioned the loan with the committed time. They have lot of formalities and pre closer is after 6 months here.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 14, 2018
    • Bank Bazaar Car Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have been using BANK BAZAAR services for past 6month, i came to know about this website through mail which i use to get on regular basis from bank bazaar . Customer service is good they are very helpful . Till now i have not started using mobile application of bank bazaar.
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 14, 2018
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