• Car Loan Eligibility

    Wondering about your car loan eligibility and what to do to increase your chances of approval? BankBazaar gives you all the information you require on car loan eligibility from top banks.

    Get a reliable guide to choosing the right car loan for you so that you can make the right choice and apply for the right car loan right now.

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    Your eligibility for a car loan will vary from lender to lender but many of the lenders will look for the below-given criteria:

    Particulars Details
    Minimum Age of the Applicant 18 years
    Maximum Age of the Applicant 60 years for salaried applicants and 65 years for self-employed applicants
    Minimum Annual Income Rs.3 lakh
    Car Model Any approved car model
    Type of Employment Salaried or self-employed
    Country or Place of Residence India (rural/semi-urban/urban areas)
    Duration of Stay in Current Residence A minimum of 1 year

    Car Loan Eligibility Calculator

    Note: Loan eligibility criteria differ depending on a bank/lender. Approvals are based on borrowers' incomes, credit profile and existing relationship with the bank.

    Car Loan Eligibility Criteria for Top Banks

    While applying for a new car loan, you will need to meet certain eligibility criteria and these requirements can differ from lender to lender. Let us take a look at the requirements for some of the top lenders:

    Axis Bank Car Loan Eligibility

    Salaried Individuals
    Minimum Age 21 years
    Maximum Age 70 years at the time of loan maturity
    Minimum Annual Income Rs.2.4 lakh
    Employment Status Should be in continuous employment for at least 1 year
    Other Criteria Should be able to produce Form 16 and latest salary slip to prove income eligibility
    Who is Eligible?
    • Applicants holding salary account with Axis Bank since the last 3 months
    • Applicants employed at MNCs, public and private limited companies, and permanent employees of state/central government/PSUs/reputed colleges/schools
    Self-Employed Individuals
    Minimum Age 18 years
    Maximum Age 75 years at the time of loan maturity
    Minimum Annual Income Rs.1.8 lakh – Rs.2 lakh
    Employment/Business Status Should be in the same line of business for at least 3 years
    Other Criteria Should be able to produce latest Income Tax Returns to prove income eligibility

    State Bank of India Car Loan Eligibility

    Category Minimum Income Criteria Maximum Loan Amount Age Criteria
    Employees of central and state government, public sector undertakings (PSUs), private companies, reputed establishments Rs.2.5 lakh p.a. 48 times of the net monthly income 21 years to 65 years
    Self-employed professionals, businessman, partnership/proprietary firms Rs.3 lakh p.a. 4 times gross taxable income or net profit 21 years to 65 years
    Individuals involved in agricultural and allied activities Rs.4 lakh p.a. (can include co-applicant's income) 3 times of net annual income 21 years to 65 years

    ICICI Bank Car Loan Eligibility

    You can calculate your eligibility for a car loan from ICICI Bank by using the ‘Car Loan Eligibility Calculator’ available on their official website. You will need to enter details such as your contact number, type of residence, type of employment, the car model you wish to purchase, ex-showroom price of the car, etc., to calculate your eligibility.

    Eligibility Criteria for Car Loan
    Car Loan Eligibility

    HDFC Bank Car Loan Eligibility

    HDFC Bank car loan can be availed by the below-mentioned individuals/entities:

    • Salaried individuals
    • Self-employed sole proprietors
    • Self-employed individuals/professionals at partnership firms
    • Self-employed individuals/professionals who own private companies
    • Self-employed individuals in public-limited companies including directors
    Salaried Applicants
    Minimum Age 21 years at the time of loan application
    Maximum Age 60 years when the loan tenure ends
    Job Stability Should have worked continuously for 2 years and at least 1 year with the current employer
    Minimum Annual Income Rs.3 lakh
    Other Criteria Should have a post-paid mobile/telephone
    Self-Employed Individuals/Professionals (Sole Proprietorship)
    Minimum Age 21 years at the time of loan application
    Maximum Age 65 years when the loan tenure ends
    Business Stability Should have been in the same line of business for at least 2 years
    Minimum Annual Income Rs.3 lakh
    Self-Employed Individuals/Professionals (Partnership Firms/Private Limited Companies/Public Limited Companies)
    Minimum Annual Income Rs.3 lakh

    Car Loan Eligibility Calculator

    Many banks, such as ICICI Bank, HDFC Bank, Kotak Mahindra Bank, etc., lets you calculate your eligibility for a car loan through a ‘Car Loan Eligibility Calculator’. This tool is available on the bank’s official website. Upon entering basic details such as your contact number, residence stability, type of employment, model and ex-showroom price of the car, etc., the tool will check if you are eligible for a car loan. The information you are asked to input, will vary from bank to bank and hence, it is recommended that you check the eligibility for specific lenders before you apply for a car loan.

    Car Loan Interest Rate Compare here! So what are you waiting for?

    When you are applying for a pre-owned car loan, you will be required to meet a few basic eligibility criteria. These requirements can differ from lender to lender. These are the criteria for some of the top lenders:

    HDFC Bank Car Loan Eligibility

    For salaried individuals

    • This loan can be taken by chartered accountants, doctors, and employees working at private limited companies and public sector undertakings.
    • The applicant must be at least 21 years old and not more than 60 years old when the loan tenure has come to an end.
    • The applicant must have been working at least for 2 years and for at least 1 year at the present company.
    • The applicant should be earning at least Rs.2.5 lakh p.a. and this can include the income of the spouse.

    For self-employed sole proprietors

    • Applicant must be at least 25 years old and not more than 65 years old when the tenure comes to an end.
    • Must have been in business at least for 3 years.
    • Must be earning at least Rs.2.5 lakh p.a.

    For self-employed individuals having private limited companies

    • Must have a landline at the office of the company
    • Must be earning at least Rs.2.5 lakh p.a.

    For self-employed individuals belonging to Hindu Undivided Families (HUFs)

    • Must be an individual in a business that belongs to HUF.
    • The Karta needs to be the loan co-applicant.
    • Must have a phone at the office of the company and at the residence. If only 1 landline connection is there, then a post-paid mobile which is only 3 months old can be used for applying.

    ICICI Bank Car Loan Eligibility

    You can receive a loan amount of up to 80% of the car’s valuation with a maximum period of 60 months.

    Axis Bank Car Loan Eligibility

    For salaried applicants

    • Must be at least 21 years old and not more than 70 years old when the loan matures.
    • The net annual salary should be at least Rs.2.4 lakh p.a.
    • Should have been employed at least for 1 year.
    • Should provide Form 16 and the latest salary slip to determine income eligibility.

    For self-employed applicants

    • Must be at least 18 years old and not more than 75 years old when the loan matures.
    • The net annual business income should be at least Rs.1.8 lakh p.a. for certain models and Rs.2 lakh p.a. for other models.
    • Should provide the latest Income Tax Returns to determine income eligibility.
    • Should have been employed at least for 3 years in the same business line.

    For self-employed non-individuals

    • The net annual business income should be at least Rs.1.8 lakh p.a. for certain models and Rs.2 lakh p.a. for other models.
    • Should provide the latest Income Tax Returns for 2 years and audited financials for 2 years to determine income eligibility.
    • Should have been in the same business line at least for 3 years.

    Car Loan Eligibility for Salaried Individuals/Self-Employed Individuals

    The eligibility criteria for salaried as well as self-employed car loan applicants can vary from lender to lender. However, the common eligibility requirements are as follows:

    For salaried individuals

    • The applicant should be at least 21 years old and not more than 60 years old.
    • The applicant should have been working in a job for at least 2 years. He or she should have been working for at least 1 year with the present employer.
    • The applicant’s income should be at least Rs.3 lakh per year.
    • The applicant should be working in a private limited company or a public sector undertaking (PSU). This can be a state, central, or a local body.
    • The applicant should have a post-paid mobile connection or a telephone connection.

    For self-employed individuals

    • The applicant should be at least 21 years old and not more than 65 years old.
    • The applicant should have been in the business for at least 2 years.
    • The applicant should be a self-employed partner or a sole proprietor in any kind of trading, manufacturing, or service-related business. This can be a private limited company or a public limited company.
    • The turnover of the business should be at least Rs.3 lakh.

    Factors affecting Car Loan Eligibility

    • Credit Score: Lenders check your credit score in order to assess your repayment capacity and your repayment behaviour for your previous or existing debts. If you have a credit score of 750 or above, your lender will be of the opinion that you are responsible about repaying your loan on time and hence, will most likely approve your loan application easily.
    • Type of Car: The type of car that you want to buy with car financing will determine your car loan eligibility. Each car model will have a particular resale value as per the features and specifications of the car. Hence, if the resale value of the car that you want is high, then your car loan eligibility will also be high. Since a car is an asset whose value depreciates with time, the resale value is taken into consideration in order to determine the eligibility.
    • Employment status and longevity of business for applicants: If a salaried employee is applying for a car loan, he or she should have been working in his or her present company for a minimum of 1 year and should have been working for a minimum of 2 to 3 years. If the applicant is a self-employed person, they should have been in the same business for a period of at least 2 to 3 years.
    • Income of applicant: When you apply for an auto loan, your lender will check your income levels in order to assess if you can pay the EMIs on time or not. If you have a higher income, the lender will be of the opinion that you can repay easily without any difficulty. However, if your income is slightly on the lower side, then your lender may be doubtful if you can pay every car loan EMI on time. Hence, the lender may give you a lower loan amount.
    • Your Employer’s Reputation: Sometimes, the company that you work for will help in improving your car loan eligibility. For example, if you are an employee at a Fortune 100 company or any other company that is ranking well, then your loan eligibility will improve. This way, you will be able to receive a higher loan amount to finance the purchase of your car. On the other hand, if you are not working in any such company, then it is important that you earn a high income in order to get a higher loan amount approved.
    • Relationship with Your Lender: If you already have an account with some bank and if you have a good relationship with this bank, then you can negotiate with them to get a higher loan amount approved at a lower rate.

    News About Car Loan Eligibility

    • 2020 BMW M8 Gran Coupe revealed

      German automaker BMW has extended their M Series portfolio further with the introduction of the M8 Gran Coupe. The newly launched car adds up to the portfolio along with the 2-door M8 Coupe and Convertible models. The car is a direct competitor to the Mercedes-AMG GT 63 4-Door Coupe. Driving the BMW M8 Gran Coupe is the same 4.4-litre, twin-turbocharged V8 engine which is found under the hood of the 2-door models. The engine churns out about 600 hp of max power in the standard model and about 625 hp of max power in the Competition variant.

      The automaker claims that the standard variant of the car can clock 0 to 100 kmph in just 3.3 seconds. The Competition variant, on the other hand, can do the same in 3.2 seconds. Customers will also have the option to install the M Driver’s Package which can boost the top speed of the car from 250 kmph to 306 kmph. The Gran Coupe also gets a variable all-wheel-drive system along with an Active M differential. Although the automaker has not mentioned if the car will be launched in the Indian market, the standard 8 Series Gran Coupe is expected to hit the Indian shores by mid-2020.

      14 October 2019

    • New infotainment system revealed by Tata Altroz Spy Shots

      The date for the launch of the Altroz, the premium hatchback that Tata Motors has promised to launch in 2019 has not been confirmed by the company yet. However, there are speculations that it will be based on the 45X concept showcased at the Auto Expo 2018. At the Geneva Motor Show that happened this year, the near-production version of the Altroz was unveiled. A sneak peek of the Altroz revealed a floating touchscreen infotainment system that will be compatible with Android Auto and Apple CarPlay. It will also feature a multi-functional steering wheel, semi-digital instrument cluster, climate control, and two USB charging slots. The Tata Altroz has a dual-tone finish cabin with chrome embellishments. On the safety side, the Altroz is expected to get Anti-Braking System with EBD, dual airbags, speed alert, reverse parking sensors, and seatbelt reminder. It will feature the same 1.2-litre petrol and 1.5-litre diesel engines as the Nexon with both an automatic and manual transmission.

      18 September 2019

    • Maharashtra launches its first inter-city electric bus service

      A new electric bus service, known as Shivai, has been introduced by the Maharashtra State Road Transport Corporation (MSRTC) for inter-city commute. The Shivai is a 43-seater, air-conditioned electric bus powered by a Lithium-ion battery. When fully charged, which would take around 5 hours, the electric vehicle will be able to cover a maximum range of 300 km. The state department has confirmed that passengers will be charged a fare of Rs.14 per km for travelling on the electric vehicle. This new service offered by the MSRTC was inaugurated on 6 September 2019 in Mumbai by Shiv Sena Chief, Uddhav Thackerey. These buses have been procured through Mozev, an electric mobility solution firm who will also support MSRTC with the charging infrastructure. MSRTC has revealed that it has plans of procuring 150 such buses to connect various cities in the state of Maharashtra. This will include the widely used Mumbai-Nashik and Mumbai-Pune routes. The other states that have similar bus services are Himachal Pradesh and Kerala.

      11 September 2019

    • Luxury people-movers making a comeback

      Luxury people-movers are making a comeback soon. German automaker Mercedes was the first one to bring in these vehicles in the market back in 1999. The MB 100/140 was the first ever people-mover that was sold. The vehicles come with more room, more comfort, and are more refined. The people-movers, however, failed to gain the interest of luxury car customers and thus, they failed to do well.

      This time, automakers like Toyota and Kia are looking forward to entering the people-mover vehicle market with the Vellfire and the Carnival, respectively. As per some insider news, the Toyota Vellfire is expected to be priced at around Rs.75 lakh in India. The main reason behind this price tag is the fact that the cars will be imported as fully built-up units under the 2,500-car import rule of the government. Reportedly, only 200 units of the Vellfire will be imported initially. The Toyota is expected to draw its power from a petrol-hybrid powertrain wherein a 2.5-litre petrol engine and 143 hp electric motor are mated together. The overall power delivery of the engine comes up to 197 hp. The Kia Carnival, on the other hand, is expected to be partly assembled in India and thus, the price tag it will carry is expected to be around Rs.25 lakh to Rs.26 lakh. The Indian spec Carnival is expected to be powered by a 2.2-litre, 4-cylinder turbocharged diesel engine that churns out 202 hp of max power and 441 Nm of peak torque.

      29 August 2019

    • Hyundai Venue to get a 1.5-litre diesel engine

      The Hyundai Venue has witnessed a strong kickstart with more than 50,000 bookings within just 2 months of its launch. The direct rival to the Tata Nexon, the Hyundai Venue is available in 3 engine variants. These include a 1.2-litre petrol, 1.0-litre turbo petrol, and a 1.4-litre diesel variant.

      In order to abide by the BS-VI norms, the South Korean automaker will no longer use the outgoing 1.4-litre and 1.6-litre diesel engines. The launch of the new Grand i10 Nios has confirmed that the company will be using the 1.5-litre diesel engine which is found under the hood of the Kia Seltos SUV. This new 1.5-litre diesel engine is compliant to the BS-VI norms. It will come with an optional variable geometry turbo (VGT). The 1.5-litre VGT engine will churn out 115 hp of max power and 250 Nm of peak torque. The standard 1.5-litre engine, on the other hand, will pump out around 90 hp of max power and about 220 Nm of peak torque. The standard engine will replace the existing 1.4-litre engine while the VGT engine will replace the outgoing 1.6-litre engine in the Hyundai line-up. The Hyundai Venue can be expected to pack the standard 1.5-litre engine under its hood.

      27 August 2019

    • Looking to buy a used car, check these companies out first

      With the depreciation of the value of cars being super high, 50% by the time the car is over 4 years old, a lot of citizens in the country are looking to rather purchase used cars. However, the process of buying a used car could be dicey as there is every chance of one being ripped off. To make sure that citizens get a car that they deserve, although it’s a second hand car, a number of companies have propped up over the last few years to ensure the authenticity of a used car deal. To ensure that they get a fair prices, customers can make their used car purchase through online portals such as Droom, CarDekho, CarWale, and Cars24. Through the aforementioned websites, customers can purchase a car of their choice and also have a plethora of financing options at their fingertips. Droom is currently the largest e-commerce portal in the country for used cars. Customers can buy and sell their cars and also have a host of financing options. The other websites mentioned above also ensure that they guide customers through the whole process of buying and selling a used car.

      30 July 2019

    • What you can look forward to with the new Porshe Macan Facelift

      For those looking forward to the new Porshe Macan Facelift, they are certainly not going to be disappointed. The model will be launched later this year at a price of Rs.85.03 lakh (Ex-showroom price), and will be released in 3 colors – Miami Blue, Crayon and Mamba Green. The new Porshe Macan Facelift will come with features such as a 3-dimensional LED lightv panel, 20-21 inch wheels, Alcantara seat covers, while the steering wheel is fitted with leather. In addition, the Porshe Macan Facelift comes with a sports response button, a 10.9 inch infotainment system, and a 7.1 inch display.

      30 July 2019

    • Maruti Suzuki Ertiga takes top spot in terms of sales in the MPV category July 30, 2019

      In what would keep Maruti Suzuki as the top car manufacturer in the country, the Maruti Suzuki Ertiga took the top spot in terms of sales in the MPV category. According to the reports, comparing sales with last year, the Maruti Suzuki Ertiga registered a 76% growth in sales in one year. Maruti Suzuki sold 7,567 units as compared to 4,311 sales last year. Commenting on the sales growth, the executive director of Maruti Suzuki said Ertiga has managed to win customer hearts with its focus on safety, design, style, space and performance. In the short span of nearly eight months of its launch, the new Ertiga's accomplishment of achieving the market leader position in MPV is overwhelming considering the growing competition in this segment. He added by saying that with the CNG-powered Next Gen Ertiga, customers will be able to enjoy the benefit of better fuel economy and superior technology which is safe, reliable and environment friendly.

      30 July 2019

    • Toyota Glanza launched priced starting at Rs.7.22 lakh

      Toyota has finally launched the new Glanza, a new premium hatchback. This is the new premium hatchback that Toyota has added to its lineup in India. The price of the car starts at Rs.7.22 lakh and can go up to Rs.8.90 lakh. The Glanza will be the first car to be launched under the Suzuki Toyota collaboration. This is the first of the many cross badge models that will be shared by the two companies apart from sharing technology and developing cars using the shared technology. The base variant of the Glanza, called G MT Smart Hybrid, will be lesser than the corresponding variant of the Baleno by Rs.65,000. All the other corresponding variants have almost been priced identically. The Glanza may be based on the Baleno by Toyota has added a few changes to differentiate the Glanza from the Baleno. The front grille of the Baleno has been modified and comes with more chrome than the Baleno. The only other notable change on the outisde of the vehicle is the vehicle badging. Both the petrol engines used in the Glanza have been borrowed from the Baleno. The base variant of the Glanza is available as a 1.2 litre petrol engine. The features offered in the Glanza is similar to what is offered in the Baleno. The base variant is priced at Rs.7.22 lakh while the top spec variant is priced at Rs.8.90 lakh.

      22 July 2019

    • Premium SUV cars expected to launch in India this year

      SUVs have become one of the most popular cars in India in recent times. The same trend has caught up with the rest of the world and now the carmakers are launching SUV car models across different price segments. The year started with the launch of 3 SUVs in India, namely the Hyundai Venue, Tata Harrier, and the Mahindra XUV300. Looking at the trend, it looks like many more of the car manufacturers will be launching SUVs this year. Kia is set to get started with its operations in India with the launch of the SP2i. This is one of the most awaited cars and is based on the SP Concept. The car was first unveiled to the public at the Auto Expo 2018. MG Motors is another company looking to make a name for itself in India. The company finally unveiled MG Hector recently. The car is set to launch in India in June. Mahindra is planning to provide an update to the famous Mahindra Thar. The car is likely to be unveiled at the 2020 Auto Expo. The car is expected to launch sometime early 2020. Tata is also launching the Buzzard sometime in 2019. The car will be directly competing with the likes of the Mahindra XUV500.

      19 July 2019

     

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    Car Loan Eligibility Reviews

    Write a Review
    • Axis Bank
      "Average"
      0.5 4.0/5 "Great!"
      Through showroom got suggestion to take a car loan from AXIS bank. I taken this loan on 3 years back. I got the loan amount of 4L with tenure period of 4 years. The rate of interest was okay. I done the down payment of around 1.5L. EMI need to pay of 10,500 rupees. The car model is Swift Dzire. I taken for commercial purpose based on amount which I get on monthly doing the EMI payment.
      Was this review helpful? 224
      , kolkata
      Reviewed on Mar 21, 2020
    • Kotak
      Kotak
      "Good "
      0.5 4.0/5 "Great!"
      I have taken car loan directly through Kotak Mahindra Bank. The car is secondhand and the model was INNOVA 2015 and the loan is still active and paying the premium on EMI basis .The rate of interest and the processing fee was nominal and they given a good service.
      Was this review helpful? 206
      , tirupur
      Reviewed on Mar 20, 2020
    • HDFC Bank
      "Good service"
      0.5 4.5/5 "Excellent!"
      I have taken car loan directly through HDFC bank.The car model was TATA Nixon and still this loan is active. The rate of interest and the processing fee are medium it was 10.99% and this loan was sanctioned immediately within 2 to 3 days got the loan. Everything was fine so far until this loan was sanctioned .
      Was this review helpful? 189
      , chennai
      Reviewed on Mar 19, 2020
    • HDFC Bank
      "Easy loan approval"
      0.5 4.5/5 "Excellent!"
      I have chosen car loan from HDFC Bank on 3 years back. I made the down payment of Rs. 1.50L and the loan amount was Rs. 4.80L. The rate of interest was normal and i am paying EMI amount of Rs. 12,157 and i have purchased Swift BSI. I given my documents to the showroom itself without any difficulty.
      Was this review helpful? 209
      , jaipur
      Reviewed on Mar 18, 2020
    • review
      "Best Service"
      0.5 4.0/5 "Great!"
      I have taken car loan through Tata Capital Ltd directly .The vehicle name is Hyundai Eon and this loan was sanctioned on proper time frame .This loan is still active and paid the premium on Emi basis.Customer service was good to me so far .The rate of interest and the processing fee was medium.
      Was this review helpful? 124
      , jaipur
      Reviewed on Mar 16, 2020
    • Tamilnad Mercantile Bank
      "Average Service"
      0.5 2.0/5 "Expected more"
      I have taken car loan directly through Tamilnad Mercantile Bank.The rate of interest was very high, it was 14%.This loan was sanctioned on time without any delay .The car model was Maruti Suzuki Alto k10 vxi and there was no difficulties faced so far .This loan is still active and everything was good.
      Was this review helpful? 117
      , surat
      Reviewed on Mar 15, 2020
    • Axis Bank
      "Excellent service "
      0.5 5.0/5 "Blown Away!"
      My car loan journey started with Axis bank which was availed directly.The vehicle name is Maruti Ertiga and this loan is still active .The rate of interest and the processing fee was nominal .This loan was sanctioned on time without anydelay .I am paying the premium on EMI basis and there is no delay charges .
      Was this review helpful? 168
      , bangalore
      Reviewed on Mar 10, 2020
    • HDFC Bank
      "Quick process"
      0.5 5.0/5 "Blown Away!"
      Maruti showroom suggested to take car loan from HDFC on few months back. They have sanctioned the loan within one week.The amount got 6L with tenure period of 7 years. An interest rate of 9%. I done down payment of 1L. EMI need to pay of 9637 rupees. The car model is Maruti new swift. Their service is good.
      Was this review helpful? 169
      , kanchipuram
      Reviewed on Mar 09, 2020
    • YES Bank
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have availed car loan through YES bank directly.still this loan is active .The car model was Hyundai Creta and the rate of interest was quite nominal it was 9.60%and processing fee was very high. This loan was sanctioned on faster basis ,the loan process was clearly shared by the agent . I am paying the premium on EMI basis which will be done on time.
      Was this review helpful? 107
      , agra
      Reviewed on Mar 06, 2020
    • HDFC Bank
      "Good Loan Service"
      0.5 4.0/5 "Great!"
      My car loan is going to be completed in this November. My salary goes into HDFC bank hence the guy keep on calling me to take the loan hence I have selected the car loan from same bank. In 2013, I have purchased the car loan by paying the down payment of Rs. 3.5L. Took the loan amount of Rs. 3.8L. I pay EMI amount of Rs. 6948 every month.
      Was this review helpful? 170
      , jammu
      Reviewed on Mar 05, 2020
    • Kotak
      "Less interest rate loan"
      0.5 5.0/5 "Blown Away!"
      My car loan was taken from Kotak Mahindra bank because an interest rate is less. I have taken the loan amount of Rs. 7L and I made the down payment of Rs. 5L. I have selected the duration of 5 years. I have been paying EMI amount of Rs. 14,000 per month. Documentation process was hassle free.
      Was this review helpful? 196
      , bangalore
      Reviewed on Mar 05, 2020
    • HDFC Bank
      "Fast approval loan"
      0.5 5.0/5 "Blown Away!"
      I have purchased my car loan with HDFC bank which i have taken in the month of December. There is no interest rate on fast approval so that reason i have availed this loan. I have taken the loan amount of Rs. 12.34 lakhs and i made the down payment of Rs. 50000. They have sanctioned my loan in 1 day.
      Was this review helpful? 255
      , vadodara
      Reviewed on Mar 05, 2020
    • Bank of India
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken car loan directly through Bank Of India .The car model was 2018 and the name is Mahindra XUV and this loan is still active and paying the premium on EMI basis .The rate of interest and the processing fee was nominal .This was a joint loan with my father.
      Was this review helpful? 146
      , indore
      Reviewed on Mar 04, 2020
    • IndusInd Bank
      "Best service "
      0.5 5.0/5 "Blown Away!"
      From INDUSIND Bank, i have taken a car loan and the loan amount was Rs. 4.50L and i made down payment Rs. 1.80L. Pre closure is there and the rate interest was normal , emi of Rs.9600 i am paying for the tenure of 5 years. Recently done a top up on this loan for personal use.
      Was this review helpful? 159
      , tirunelveli
      Reviewed on Mar 04, 2020
    • SBI
      "Good loan offer"
      0.5 5.0/5 "Blown Away!"
      I got car loan offer from SBI which showroom suggested to apply. The rate of interest is 9.7% is fine. I taken this loan on 3.5 years back. The amount was sanctioned of 6L was sufficient with tenure period of 5 years. The car model Mahindra E2O. I have not any down payment. There are pre closure and part payment are applicable.
      Was this review helpful? 478
      , bangalore
      Reviewed on Mar 04, 2020
    • TVS Credit Services
      "Service"
      0.5 0.5/5 "Unacceptable"
      I not able to contact customer service , executive and the manager they are not providing manager contact number so what can I do . I had came to the branch in Bangalore for foreclosure care loan no one are responsible and not taking proper response .
      Was this review helpful? 30
      , bangalore
      Reviewed on Mar 03, 2020
    • SBI
      "Very Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      My car loan was taken from State Bank of India because the interest rate is low and the bank service is good. They have offered a loan amount of Rs. 5 lakhs and i made the down payment of Rs. 1.25 lakhs. The interest rate is 9%. I have been paying the EMI amount of Rs. 10600 per month for the duration of 5 years.
      Was this review helpful? 78
      , ludhiana
      Reviewed on Mar 03, 2020
    • HDFC Bank
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I have taken Nexa baleno car through HDFC car loan . The rate of interest and the processing fee was very nominal and this loan is still active .This loan was sanctiooned on time without any hassles .The processing time was very fast and paying the premium on EMI basis .If pay the premium on delay basis there is no extra charges .
      Was this review helpful? 50
      , tirupur
      Reviewed on Mar 02, 2020
    • IndusInd Bank
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken car loan through Indusind bank directly ,The rate of interest and the processing fee was very high since had requirement i have taken this loan .The car model was 2011and the name of the vehicle name is Maruti 800 i have taken this loan before 10 years .Everything was good to me so far and i am really satisfied with the service .
      Was this review helpful? 31
      , jaipur
      Reviewed on Mar 02, 2020
    • SBI
      "Good service "
      0.5 3.0/5 "Satisfactory"
      SBI is ready to provide the full loan amount of Rs. 10L for my car without any down payment. I didn't get the loan on time, i made one month EMI of Rs.13,000 after that i pre closed this loan. I got the normal interest rate, for pre closing they have charged only Rs. 500 and i purchased middle version car.
      Was this review helpful? 107
      , bangalore
      Reviewed on Mar 02, 2020
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