If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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    We found 34 Bangalore Car Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    13.1% - 15% Floating
    0
    20K - 10L
    1-5 Years
    Response Time : Within 30 minutes
    Ad Rs.2,500 Amazon voucher free Paperless approval available
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    9.10% - 15% Fixed
    Up to ₹ 6,153 One time fee
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon voucher free
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    8.90% Floating
    ₹500 to ₹7000 + applicable tax
    1Cr Max
    7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon voucher free Paperless approval available
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    9.50% - 11% Fixed
    2,500 One time fee
    1L Min
    1-5 Years Tenure
    Response Time : Within 30 minutes
    Rs.2,500 Amazon voucher free
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    8.5% - 10% Fixed
    Up to ₹4,720 One time fee
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon voucher free Paperless approval available
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    12.5% - 14.5% Floating
    2% One time fee
    1.5L - 25L
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon voucher free 100% financing on car value
    What you'll love
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    Eligibility Criteria
    8.75% - 11.50% Fixed
    Up to ₹5500
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
    Paperless approval available
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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 free Paperless approval available
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    Eligibility Criteria
    9.15% Floating
    575 One time fee
    1L - 2Crs
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon voucher free
    What you'll love
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    16% Floating
    1% One time fee
    50K - 15L
    1-4 Years
    Response Time : Within 30 minutes
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    Eligibility Criteria
    12% - 14% Fixed
    2,500 One time fee
    1L Min
    1-3 Years Tenure
    Response Time : Within 30 minutes
    Rs.2,500 Amazon voucher free
    What you'll love
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    8.80% Floating
    ₹500 to ₹7000 + applicable tax
    1Cr Max
    7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon voucher free SPECIAL OFFER FOR WOMEN
    What you'll love
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  • Bangalore Car Loan Reviews

    • HDFC Bank Car Loan
      "Not bad"
      0.5 4.5/5 "Excellent!"
      I have approached HDFC bank for my car loan. The rate of interest was not bad comparing to others banks but there is no response from the bank end so I have cancelled the application . The customer service was average . My overall experience was not bad and I would like to rate 4.5 out of 5 overall.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 25, 2017
    • HDFC Bank Car Loan
      "Wrong judgement of applicant and no follow up."
      0.5 1.0/5 "Really Bad"
      I have requested for a car loan with HDFC Bank. The executive came to my place and collected the documents. At that time itself he verified all my document and later told me that my address proof is not clear. So i asked the executive to come and collect the document but he did not turn up. Later i got a message due to the documents my application got rejected.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 25, 2017
    • Bank Bazaar Car Loan
      "Good"
      0.5 4.0/5 "Great!"
      Bankbazaar.com is really a good one for me and am using it from the last one year of time. I would like to say that the response is okay for me and their customer service is good one for me, also am really happy with them till now.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 25, 2017
    • ICICI Bank Car Loan
      "Excellent"
      0.5 1.0/5 "Really Bad"
      I am not looking for the car loan with the ICICI bank on this year of time because I would like to plan it for after an year of time. I don't have any issues with them till now, also I would like to go ahead with them in future.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 25, 2017
    • Bank Bazaar Car Loan
      "Great follow up"
      0.5 2.5/5 "Just OK"
      On digital media Bankbazaar is Exemplary. The executives do regular follow ups and all other dealings with bankbazaar which has to be appreciated. The fundamental part were Bankbazaar needs an improvement is the follow up with the bank. They have to check with the bank about the current status of the applicant.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 25, 2017
    • Sundaram Finance Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have approached SUNDARAM finance for my car loan.The customer service and responses was really good. I am impressed with their rate of interest also. I couldn't proceed with the loan process due to my personal reason. My overall experience was good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 24, 2017
    • Bank Bazaar Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      This is my first experience with Bank bazaar. Their customer service and responses was really good. Their website has good options like Credit score and EMI calculator was useful so I would like to rate 5 out of 5 overall. My overall experience was excellent .
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 24, 2017
    • HDFC Bank Car Loan
      "Good"
      0.5 1.0/5 "Really Bad"
      I have approached HDFC bank for my car loan .They have rejected my application for some reason but when i contacted them to know the reason I did not get a clarity on that. However their rate of interest was 10.57% which is bit less than other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 24, 2017
    • Bank Bazaar Car Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have approached HDFC bank through Bank bazaar for my car loan. Their responses and customer service was good. It would be nice if they work on the run time error which I faced while applying on their website. I am using their mobile application and I am impressed with the options like EMI calculator, loan repayment calculator etc.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 24, 2017
    • Bank of India Car Loan
      "Good experience"
      0.5 2.0/5 "Expected more"
      I have taken 2 car loans with BANK OF INIDIA years back and now I have recently taken one more car loan for 5.50lacs.Their customer service and responses was not satisfactory. They have to work on their net banking system which was very worst. Their rate of interest was 8.3% and there is no charge for the pre closure .Here the part payment option is very good .
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 24, 2017
    • Bank Bazaar Car Loan
      "Average "
      0.5 3.0/5 "Satisfactory"
      Though there was a response from Bankbazaar after I placed a request for a loan. It would have been better if the executives are more knowledgeable about the banking details so they can clarify any query before the customer information is processed to the banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 23, 2017
    • HDFC Bank Car Loan
      "Documentation process needs improvement"
      0.5 2.5/5 "Just OK"
      Being a privileged customer I got a good deal on the interest rate and processing charges with HDFC Bank for the car loan. But the bank needs to work on the paper work process. They have collected the same documents multiple times which was not satisfactory.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 23, 2017
    • Bank Bazaar Car Loan
      "Fantastic services"
      0.5 5.0/5 "Blown Away!"
      The process is immediate at Bankbazaar and they immediately contacted me and they informed me about the documentation needed before the executive came over to collect it. The team also informed me which where the banks that suited my profile and they have followed up at every stage of the process. It was clear and a very smooth going. They followed up more than the bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 22, 2017
    • Axis Bank Car Loan
      "High on ROI and charges"
      0.5 3.0/5 "Satisfactory"
      The two major blocks in the process of Axis Bank for the car loan is they were sending the documents to the dealer and I had to follow up with them to send it to me again. The other thing is the interest rate was of 8.5% and after the documents was processed, I happened to check it and I found .25% more. I had to make them change it and it went back to 8.5% finally.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 22, 2017
    • Bank Bazaar Car Loan
      "Perfect place to take a loan through"
      0.5 5.0/5 "Blown Away!"
      I would give five stars for Bankbazaar as it is a kind of portal where everything is put place and it is pretty transparent. More over when we go through this online channel, the banks that are associated with Bankbazaar are more responsive than when we visit the bank in person.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 22, 2017
    • Capital First Car Loan
      "Services are good and high on ROI"
      0.5 4.0/5 "Great!"
      Capital first is good and the overall experience was on time for the car loan. It was a good process and the documents was collected on time too. The interest rate was on the higher side. I got a rate of around 14% and the processing charges was also high. Else the after loan services was good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 22, 2017
    • HDFC Bank Car Loan
      "Good loan"
      0.5 4.0/5 "Great!"
      Previously, I had taken a car loan from HDFC Bank. The interest rate offered by HDFC Bank was 8.6% which is very much reasonable and the processing fee charged by them was also reasonable. I am allowed to make prepayments in between.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 22, 2017
    • Bank Bazaar Car Loan
      "Very good expeirence"
      0.5 4.0/5 "Great!"
      The portal bankbazaar.com is too fast, I had filled the form online, bankbazaar had provided all the information like what ever details we asked bankbazaar was ready to provide, I can also upload the documents online myself . I am happy with the proposal given by them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 22, 2017
    • Oriental Bank of Commerce Car Loan
      "Very good car loan"
      0.5 4.0/5 "Great!"
      Three months back, I had taken a car loan from HDFC based on the previous track records and that was the reason why I had not taken loan from OBC. Otherwise Service provided by OBC was very good, interest rate offered by OBC was very much reasonable and processing fee charged by them was normal too.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 22, 2017
    • Bank Bazaar Car Loan
      "Very good guidance"
      0.5 5.0/5 "Blown Away!"
      Very good guidance was provided by bankbazaar. Also the service provided by them was incredible. They connected me with DENA bank and they explained to me how to get the car loan. They also confirmed certain procedures about KYC and down payment. I got partial and theoretical knowledge about the loan process with the help of bankbazaar.com.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 22, 2017
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    Bangalore Car Loan is Rated as "Great!" by 4652 Users

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    Promised Interest Rate

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    Car Loan BYTES FROM OUR KITCHEN

    Bangalore Car Loan

    Bangalore also known as Bengaluru, is the capital of the Indian state of Karnataka. It is India's third-largest city.In recent years, Bangalore propelled to be the forefront of the high-tech industry boom in India, and it currently ranks as India's most developed city and one of the world's fastest growing urban areas.

    About Car Finance: Personal Car Finance is a complete subsector of personal finance, with numerous different products available. These include a straightforward car loan, hire purchase, personal contract hire (car leasing) and Personal Contract Purchase. Therefore car finance includes but is not limited to vehicle leasing. These different types of car finance are possible because of the high residual value of cars and the second hand car market, which enables other forms of financing beyond pure unsecured loans.


    You’re probably eligible for an Bangalore Car Loan if you are

    01
    02
    03
    04
    Bangalore Car Loan Minimum Age

    At least 21 years old

    Bangalore Car Loan Maximum Age

    Less than 67 years old

    Bangalore Car Loan Eligible Employment Type

    Salaried / Self – Employed
    with regular income

    Bangalore Car Loan Minimum Income

    Earn more than the minimum
    income required


    Your Bangalore Car Loan amount eligibility is based on these factors

    01
    02
    03
    Bangalore Car Loan Minimum Salary

    Minimum income required Rs.2,40,000 per annum

    Bangalore Car Loan Maximum Loan to Value

    Loan capped @
    85% Ex-Showroom price

    Bangalore Car Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Bangalore Car Loan amount by these steps

    01
    02
    Bangalore Car Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    Bangalore Car Loan Maximum Tenure

    Choose longer tenure loan up to 5 years


    Documentation needed to apply for an Bangalore Car Loan

    • 1. Photo ID and age proof
    • 2. Signed application form with photograph
    • 3. Residence proof
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:

      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    Bangalore Car Loan Interest RatesUpdated on 26 Sep 2017

    Bangalore Car Loan Details
    Interest Rate (Monthly reducing balance) 10.5% - 12.75%
    Processing Fees Rs. 500 to Rs, 5,000
    Loan Tenure 1 year to 5 years
    Pre-closure Charges 2% to 4% on outstanding loan amount
    Guarantor Requirement No guarantor required

    Car loans in Bangalore

    Owning a car is a style statement these days and every second person belonging to the urban population feels that having a car of their choice is now a necessity. In accordance to this growing need, Indian banks have been competing with each other to provide the best car loans at the most affordable cost with a whole bundle of benefits. Car dealers have been teaming up with insurance companies to provide package car deals as this is the much selected option amongst the young population. Owning a car in Bangalore is not a great hassle. Select the model of the car, get the quote from a dealer, apply for a car loan and buy the car of your choice. Simple!

    Top banks providing car loans in Bangalore

    Based on this demand, leading Indian banks have their presence in Bangalore providing competitive car loan schemes at excellent interest rates, low monthly installments and higher loan amount eligibility. The top banks that offer the best car loan interest rates in Bangalore are as follows -

    HDFC Bank car loan – HDFC offers excellent interest rates on car loans in Bangalore. The rates range from 10.75% to 12.50% per annum with HDFC offering car loans with one of the fastest processing procedures in the city.

    State Bank of India car loan – As one of the oldest banking institutions in India, State Bank of India offers the lowest interest rate on car loans in Bangalore with different interest rates for men and women. The bank charges 10.45% per annum for men and 10.40% per annum for women.

    Bank of Baroda car loan – Bank of Baroda provides car loans at an interest rate of 10.50% per annum irrespective of the loan tenure in Bangalore. The car loan scheme from Bank of Baroda also features the unique option of including the facility for installation of CNG / LPG gas kits in new cars.

    Canara Bank car loan – Canara Mobile from Canara Bank is an affordable car loan scheme with excellent benefits, including an interest rate of just 10.70% per annum.

    Corporation Bank car loan - In Bangalore, Corporation Bank offers car loans with two interest rates – 10.75% for new car loan amounts up to Rs 50 Lakhs and 11.25% for new car loan amounts above Rs 50 lakhs.

    Kotak Mahindra car loan – Kotak Mahindra Bank finances up to 90% of the ex- showroom price of the purchased car with flexible payment options at an interest rate of 11.50% to 13.50% per annum.

    Axis Bank car loan – Axis Bank offers cost-effective and flexible car loan schemes in Bangalore at an interest rate of 11.50% per annum.

    ICICI Bank car loan – ICICI bank provides car loans in Bangalore with different interest rates for different loan tenures. For a loan tenure up to 23 months, the interest rates are 12.75% to 15.00% per annum. For loan tenures ranging from 24 to 35 months, the interest rates are 12.20% to 14.50% per annum and 10.75% to 12.50% per annum for loan tenures ranging from 36 months to 84 months.

    Bank of India car loan – Bank of India offers car loans in Bangalore at an attractive interest rate of 10.65% per annum. The Bank of India Star Vehicle loan scheme comes with a whole bundle of add-on benefits and features.

    Federal Bank car loan – Federal bank provides car loans with fixed and floating interest rates. The floating rates that apply are calculated as base rate plus 0.70% to 2.05%. The fixed interest rate is 0.25% above the floating interest rate.

    Age criteria for availing a car loan in Bangalore

    Any salaried individual looking to avail a car loan in Bangalore should be 25 years and above at the time of application. Additionally at the time of maturity of the car loan, the individual’s age should not be more than 58 years.

    For self-employed professionals, partnership firms, private and public limited companies, any partner, proprietor or professional should be 28 years while applying for the car loan and 65 years at the time of maturity. Limited companies should have established themselves in Bangalore for atleast three years.

    Income criteria for car loans in Bangalore

    Salaried professionals should have a gross annual income of Rs 4 lakhs with a total employment stability of more than two years, with one year in their current organization for qualifying for car loans in Bangalore.

    Businessmen need to have three years of stable work establishment with a gross annual income of atleast Rs 2.5 lakhs. Partnership firms and public/private limited companies should show a minimum profit of Rs 2.5 lakhs to be eligible for a car loan.

    Documents required for a car loan in Bangalore

    The documents that an individual requires to submit while applying for a car loan in Bangalore are as follows:

    As proof of identity the mentioned documents are accepted - Passport copy, PAN card, driving license and voter’s ID card.

    As address proof, these are the documents that need to be submitted – Driving license, ration card, Voter’s card, passport copy, electricity bill, telephone bill, life insurance policy and PAN card.

    The last six months bank account statements and proofs for verification of signature also need to be submitted by the applicants.

    Proof of Income

    While applying for a car loan on Bangalore, salaried professionals need to submit their latest pay slips along with the last two years Form 16 and income tax returns documents.

    Self-employed professionals have to submit their income tax returns filed for the previous two years as proof of their income.

    Partnership firms, societies and corporate companies have to also submit their income tax returns filed for the previous two years along with their financial and audit reports as income proofs.

    Check For Latest: Gold Rate in Bangalore Or Silver Rate in Bangalore
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