If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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
    Bank Name
    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.5,000 Amazon Voucher free Paperless approval available
    What you'll love
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    Fees & Charges
    Good to Know
    13.1% - 15% Floating
    999 + applicable tax
    20K - 10L
    1-5 Years
    Response Time : Within 30 minutes
    Rs.5,000 Amazon Voucher free Paperless approval available
    What you'll love
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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.60% - 11.50% Fixed
    Up to ₹5,500
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.5,000 Amazon Voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    12.5% - 14.5% Floating
    2% One time fee
    1.5L - 25L
    1-7 Years
    Response Time : Within 30 minutes
    Rs.5,000 Amazon Voucher free 100% financing on car value
    What you'll love
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    Fees & Charges
    Good To Know
    Eligibility Criteria
    12% - 15.5% Fixed
    Up to ₹5,310 One time fee
    75K Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.5,000 Amazon Voucher free Paperless approval available
    What you'll love
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    9.50% - 11% Fixed
    2,500 One time fee
    1L Min
    1-5 Years Tenure
    Response Time : Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    12% - 14% Fixed
    2,500 One time fee
    1L Min
    1-3 Years Tenure
    Response Time : Within 30 minutes
    What you'll love
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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    16% Floating
    1% One time fee
    50K - 15L
    1-4 Years
    Response Time : Within 30 minutes
    What you'll love
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    Perks
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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
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.40% - 13.25% Fixed
    Up to ₹ 5,000 One time fee
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.5,000 Amazon Voucher free
    What you'll love
    Documents
    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
    What you'll love
    Documents
    Perks
    Good to Know
    Eligibility Criteria
    11.50% Floating
    575 One time fee
    1L Min
    1-3 Years
    Response Time : Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
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  • Bangalore Car Loan is Rated as "Great!" by 5171 Users
    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 18 Jan 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 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
      "Good platform"
      0.5 4.5/5 "Excellent!"
      Bank Bazaar is a good platform to get a financial products. I have been using the website for past one year. The website was easy to navigate and user friendly. The customer service and response was satisfactory. I would like to recommend this website to others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2018
    • HDFC Bank Car Loan
      "Better"
      0.5 4.0/5 "Great!"
      My car loan was taken with HDFC Bank through online channel. They offered a normal interest rate. The documentation process was simple and provided a doorstep service. I have purchased Royals Wagnor and I took loan of 6L. I have to pay monthly around 12,815 rupees.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2018
    • ICICI Bank Car Loan
      "Satisafctory"
      0.5 4.0/5 "Great!"
      I have my car loan with ICICI bank 2 years back. The loan amount was 5 lakhs and the Interest rate was 11-12% and it is high when compared with other banks. The processing fee was nominal and the tenure period was 5 years. They have sanctioned the loan within the committed time and loan process was good. My loan process was very much satisfactory.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 12, 2018
    • City Union Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Car Loan with City union bank.The loan amount is four lakhs,rate of interest is nominal as compared to other banks.The tenure is for 4-5 years .I pay am EMI of 11300.I am totally happy banking with them,i pay my EMI through online transfer.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 11, 2018
    • Axis Bank Car Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      My car loan experience with Axis bank was very good, the loan amount was for Rs 10 lakhs with the rate of interest of 8.75% which is very less when compared to all other banks. The process was very smooth and i received my loan amount within 10-12 days. My loan amount was based on the on-road price. The car model in TATA HEXA diesel version. The processing fees was very nominal, i pay an EMI of Rs 21680 and the tenure of the loan is 3 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 10, 2018
    • SBI Car Loan
      "Best"
      0.5 4.0/5 "Great!"
      I am having the car loan with the State bank of India. Rate of interest was around 12% and the service was good one for me. I got the loan amount within fifteen days of time and I have got the commercial vehicle through an easy way where as everything went through a different channel.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 09, 2018
    • Syndicate Bank Car Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken Car loan from Syndicate Bank and it was a very good loan experience. The loan amount was for Rs 6 lakhs with the rate of interest of 10.5% which is nominal when compared to all other banks. The process was very smooth and i received my loan amount within 1 week. Customer service was good and they provided door step service to collect the documents. My loan amount was approved based on Ex-showroom price and the tenure of the loan is 7 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 06, 2018
    • Bank Bazaar Car Loan
      "Good service provider"
      0.5 4.0/5 "Great!"
      From bankbazaar team i got good response and the follow up from the team was also good. The website is so user friendly so that any one can easily handle the service. The customer service and response with them is really appreciable. I got my loan through bankbazaar.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 03, 2018
    • TVS Credit Services Car Loan
      "Car loan from TVS"
      0.5 4.0/5 "Great!"
      I have taken a car loan from TVS credit. The approved loan amount was 2 lakhs. The rate of interest was 8%. The monthly EMI is 6170. The total tenure is for 42 months. The processing fee was around 6800. The asked for minimal documents. The experience is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 03, 2018
    • Bank Bazaar Car Loan
      "Good follow up"
      0.5 5.0/5 "Blown Away!"
      The service from bankbazaar is very much comfortable and the website is really helpful in search of all the bank products. I got quick response and good follow up calls. I got good assistance from bankbazaar. My car loan got approved through bankbazaar.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 03, 2018
    • TVS Credit Services Car Loan
      "Recommedable bank"
      0.5 4.0/5 "Great!"
      I have take a car loan from TVS credit services. The approved loan amount was 2 lakhs 47 thousand. The rate of interest is 13%. the monthly EMI comes around 12390 rupees. The total tenure was for 48 months. The documentation process is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 03, 2018
    • Bank Bazaar Car Loan
      "Friendly website"
      0.5 4.0/5 "Great!"
      This is my first time experience with bankbazaar. The response was great with bankbazaar. I got immediate call back and the process was very fast. I am satisfied with bankbazaar. I got my car loan approved through bankbazaar. The website is friendly.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 02, 2018
    • Sundaram Finance Car Loan
      "Car loan from Sundaram Finance"
      0.5 4.0/5 "Great!"
      I have taken a car loan from Sundaram Finance. The approved loan amount was 5 lakhs 30 thousand with a rate of interest was almost 12.5% The monthly EMI is 13800 for a tenure of 4 years It took almost around 10 to 15 days for the approval, too much of documents
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 02, 2018
    • ICICI Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have a car loan from Icici ,the service was good. They offered me a interest rate of 9 % which was good compared to others in the market. Icici customer support was good ,the documents part was been very smooth ,it was a excellent experience with Icici car loan service for my Maruthi car.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 02, 2018
    • HDFC Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The rate of interest offered by Hdfc car loan service was 9% which was good,the customer support was fine. They dispersed the loan amount on time which was very helpful for me also the customer support was good ,it was a good experience with Hdfc car loan service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 02, 2018
    • L&T Finance Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan from L&T Finance Limited and it was a good loan experience. The loan amount was for Rs 5.20 lakhs with the rate of interest of 16% which is high when compared to all other banks. The process was very quick and i received my loan amount within 1 week. Customer service was good and they provided door step service to collect the documents. They did not charge any processing fees. I pay an EMI of Rs 14750 and the tenure of this loan is 4 years.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 28, 2017
    • Tata Finance Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have a purchased Tata Winger with the help of Finance. It is a tenure of 3 years, now almost 2 years completed. I am paying monthly premium as 20K. The payment is easy and convenient. The customer service and response was good. The rate of interest was 9% and I have chosen floating rate.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 28, 2017
    • HDFC Bank Car Loan
      "Good card to hold"
      0.5 4.0/5 "Great!"
      I hold a credit card with HDFC bank. My current limit is 90000. I am satisfied with the limit. The customer service and response with the card is good. i use the card for my basic needs.I hold this card for more than one and half years. its a good card.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 26, 2017
    • review Car Loan
      "Faster approval"
      0.5 5.0/5 "Blown Away!"
      I am running a car loan with Shriram Finance. It is a tenure of 48 months, now 4 months over. The rate of interest was very high when compared to other bankers but the loan process was pretty good. I visited the branch and submitted my documents.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 26, 2017
    • review Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have purchased a Swift Dzire with the help of Tata Capital. They have offered me 90% amount. The rate of interest was more. The customer service and response was average. They charged 14% as interest rate. The documentation process was doorstep.
      Was this review helpful? 6
      , bangalore
      Reviewed on Dec 23, 2017
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