Car loan offers make your wish of owning your dream car a reality. With car loans, you can own your dream car right now even if you don’t have the money upfront, whether it is a new car or a pre-owned one. Monthly installments with reasonable interest rates make car loans accessible to all. Most car loans also offer flexible tenures and even allow you to choose the tenure that best suits your requirements. There is also the option of choosing the type of interest rate that is most convenient for you, whether it is a floating interest rate option or a fixed interest rate option. You can also choose payment modes that work for you, whether it is automatic debit of monthly payments from your bank account or post-dated cheques. There are also many car loan offers that you can avail which give you attractive discounts on your loan. An example of this is the BankBazaar car loan offer.
Here are the banks that offer the most attractive car loans in India:
HDFC Bank offers a wide range of new car loans and pre-owned car loans. These loans have the following features:
HDFC’s new car loans have the following features:
|Type of loan||Rack interest rate and Maximum loan amount||Tenure||Processing fees|
|New car loan||9% to 10.25% and Up to Rs.3 crore||From 12 months to 84 months||0.4% of the loan amount that is subject to a lower limit of Rs.3,000 and an upper limit of Rs.10,000|
|Pre-owned car loan||11.50% to 17.50% and Up to Rs.2.5 crore||From 12 months to 84 months||1.50% of the loan amount that is subject to a lower limit of Rs.2,500 and an upper limit of Rs.5,000|
ICICI Bank offers both new car loans and pre-owned car loans. Features of the these loans are the following:
Capital First provides pre-owned car loans at a fixed rate of interest and with the following features:
|Type of loan||Maximum loan amount||Tenure|
|Fixed rate of interest||Up to Rs.50 lakh||11 months up to 84 months|
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