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    Car Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.45% - 11.25% Fixed
    Up to ₹2,587 One time fee
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    Instant approval option available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    14% - 15% Floating
    1% (Max. ₹ 5,750)
    20,000 - 10L
    1-5 Years
    Response Time Within 30 minutes
    Instant approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    9.50% - 10.75% Fixed
    Up to ₹ 6,153 One time fee
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    9.85% - 12% Fixed
    2300
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10% Floating
    575 One time fee
    1L - 2Crs Women's Special!
    1-5 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.54% Fixed
    1,725 to ₹2,875 One time fee
    50K - 2.5Crs
    1-5 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    14.50% - 17.00% Floating
    2% (Max. ₹ 6,900) One time fee
    ₹ 1.5L - ₹ 25L
    1-7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good To Know
    Eligibility Criteria
    10.10% Floating
    575 One time fee
    1L - 2Crs
    1-5 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    16% Fixed
    1.25% (Min. ₹ 5,175) One time fee
    50,000 - 15L
    1-4 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    17% - 23% Floating
    1% One time fee
    50,000 - 15L
    1-4 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    12.10% 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
    12% - 13% Fixed
    1% One time fee
    50000 - 10L
    1-4 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    9.5% - 11% Fixed
    2300 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
    2300 One time fee
    1L Min
    1-3 Years Tenure
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.25% - 13.5% Fixed
    Up to ₹ 11,500 One time fee
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    9.85% Fixed
    1.22% (min. ₹612)
    Max 3 years salary
    7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    10.15% Fixed
    ₹500 + S.T.
    50L - 1Cr
    7 Years
    Response Time Within 30 minutes
    Documents
    Perks
    Think about
    Eligibility Criteria
    10.15% Fixed
    1,000 to ₹15,000
    Max 3 years salary
    1-7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    9.80% - 9.85% Fixed
    Up to ₹5,000
    10L - 25L Up to 90% of car value
    7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    10.10% Floating
    2,000 to ₹20,000 One time fee
    75L Max
    7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    9.95% Fixed
    0
    -
    7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    9.95% Fixed
    0.229% (max. ₹ 10191/-) One time fee
    2Crs Max
    7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Eligibility Criteria
    10.20% - 10.45% Fixed
    Up to ₹7,000 + S.T.
    1Cr Max
    7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    9.70% Fixed
    ₹750
    Max 2.5 years salary
    7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    9.95% Fixed
    ₹500 to ₹5000 One time fee
    Max 2 years salary
    7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    9.75% Fixed
    500 + S.T.
    48 times of Net Monthly Income
    7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    9.95% - 10.45% Floating
    1,020 to ₹10,200 One time fee
    Max 2 years salary
    7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    9.80% Fixed
    0.50% (max. ₹15,000) + S.T.
    125L Max
    7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    10.25% Floating
    -
    25L - 50L
    1-7 Years
    Response Time Within 30 minutes
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    16% - 17% Fixed
    2%
    1L Min
    1-5 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    9.70% Fixed
    500 + S.T.
    48 times of Net Monthly Income
    7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    Close

    Compare Car Loan Offers from Top Banks. Apply Online and Get e-Approved Instantly.

    Car Loan Reviews

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    BankBazaar Car Loan is Rated as "Excellent!" by 21466 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Car Loan BYTES FROM OUR KITCHEN

    You're eligible for a Car Loan if you:

    01
    02
    03
    04

    Are legally adult enough to handle it

    Have still got it

    Get a regular pay check

    Make more than a basic buck


    Your eligibility depends on

    01
    02
    03

    Earn more than minimum income
    required

    Loan capped @
    85% Ex-Showroom price

    EMIs of other loans lower
    your eligibility


    Boost your eligibility by

    01
    02

    Pay off your credit card bills

    Choose longer tenure loan up to 7 years


    Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

    • 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

    Car Loan Interest RatesUpdated on 22 Jul 2016

    Car Loan Details
    Interest Rate (Monthly reducing balance) 9.35% - 23.00%
    Processing Fees Varies with bank
    Loan Tenure 1 year to 7 years
    Pre-closure Charges Varies with bank
    Guarantor Requirement Varies with bank

    An Overview About Car Loan

    Car loans are the simple means to a glorious life milestone- owning your dream car. Almost all of us want to own that shiny set of wheels and drive it triumphantly, into the sunset. However, owning a car (vehicle in general) in India is a costly proposition, one that usually demands the impetus of a sizable financial assistance from banks/ financial institutions that have dedicated loan products in this regard. Almost all private/public sector lenders in India offer car loan options with terms and conditions that are highly customer friendly, affordable and scalable. By qualifying against a very simple list of identity, income and credit history qualifications, you can be the proud owner of your own brand new car.

    Why Choose a Car Loan?

    Choosing a car loan in India has two distinct reasons and advantages. Firstly, cars are expensive. This is a costly investment that is usually not completely affordable in the case of a typical middle class Indian. While his/her savings may account for a sizable portion of the purchase amount of the vehicle, a significant portion of the aforementioned purchase must be covered by the amount as provided by the car loan. Secondly, massive purchases (such as buying a car) with liquid cash could get you on the IT department’s radar, plus, you lose the chance to build up crucial credit history by subscribing to a car loan and religiously adhering to the repayment cycle. The credit history thus built, will help you procure more loans in the future. Hence, car loan in India are the surest and safest way to purchase your ideal vehicle.

    Features & Benefits of Car Loans

    When it comes to car loans in India, in general, the following features and benefits are freely offered. Note that, the following is a generalized look at the advantages offered by car loans in general. Individually, car loan lenders may have highly customized and specialized offerings for their customer base.

    • Helps you purchase a better car than the one available in your budget. While this may not be a rule, it holds true for a vast majority of car purchasers in India.
    • Allows you to procure a vehicle quickly- without spending too much time arranging for the money through the time tested concept of ‘saving for it’.
    • Helps you manage the cost of purchase of the new car by spreading it across a longer duration of time. Thereby, this keeps you in control of your spending and makes the car much easier to pay for.
    • Most car loan offerings in India are secured loans, meaning, the car serves as the security/collateral for the loan. This poses little financial risk for you- at worst, you default on the repayments and lose the car, plus your credit score is damaged to smithereens. However, you do have a measure of control over the proceedings. PS- Don’t default on your car loan EMIs.
    • Procuring a car loan is usually simpler as compared to other loan products. Individuals with slightly unsavory credit scores can also hope to nail one down. However, this option differs from bank to bank.
    • Car loans in India often utilize the fixed interest rate option when it comes to repayment via EMIs. This means, you are always assured of a fixed amount that needs to be repaid on a monthly basis. This takes the surprise out of the financial planning that goes into the car purchase process. Thank god for that!!
    • The actual maximum loan amount depends on the vehicle to be purchased and varies from bank to bank. Mostly however, this is 100% of the vehicle’s on-road price. The repayment tenure usually stretches from 5-10 years and offers different interest scales for different tenure slabs.
    • Most importantly, a car loan helps you buy your dream car. Aside from being a purely transport option, the car serves as a confidence booster and your means to assert the hard earned financial freedom.

    Why Apply for Car Loan on BankBazaar.com?

    BankBazaar.com is an online aggregator of car loan products as offered by banks and other financial institutions across India. Perceptively, checking out and applying for a car loan on this customer friendly website offers the following unbeatable advantages-

    • Comprehensive List of Car Loans

      Browse through and get all the information about the most popular car loans available in India. Having so many options before you allows for informed decision making, based on the analysis of the various features, pros and cons offered by the car loans.

    • Compare and Select

      Breeze through all the car loan options before you and select the one that best satisfies your requirements and respects your limitations. Traditionally, this step would entail a lot of running around and enquiries, however, BankBazaar.com turns this into an intensely informative, interactive and private affair that could be completed from the comforts of your home or office.

    • Check your Eligibility

      A simple and interactive wizard helps to ascertain your qualification for the car loan and throws up the best options in line with your requirements. This saves time and cuts out the middlemen.

    • Easy Application Process

      Applying for a car loan on BankBazaar.com is as simple as simple can be. After selecting your car loan and furnishing some essential details on the website, the process is taken over by the bank offering the car loan. Save on all the leg-work, get your car loan with a few clicks on the computer mouse.

    • Robust Customer Support

      Have a query or concern with regards to the car loan in question? The expert customer support team from BankBazaar.com is always at hand to sort all your issues. Procuring that ideal car loan was never more simpler.

    • 100% Free

      Making use of the various offerings from BankBazaar.com, including friendly tools like ‘Car Loan EMI Calculator’ is completely free of charge. Convenience meets simplicity, at 0% monetary investment.

    Applying for a car loan on BankBazaar.com involves the following steps,

    • On the BankBazaar.com homepage, browse through the various menu items listed on the navigation bar at the top of the page. Select the first item on the list named ‘Loans’. Herein, select ‘Car Loan’. ed
    • Immediately, on the adjoining drop-down, you can see a whole listing of car loan offerings from various lenders in India. Alongside this, the options ‘Get Quote’ and ‘Explore’ are also easily visible.
    • ‘Get Quote’ and ‘Explore’- Clicking on either of these options will unveil an interactive wizard that will help us determine your exact requirements and expectations with regards to the car loan. Complete the forms before you and provide specific information as and when required. Next, choose from the various car loan options that are suggested as best fit scenarios for your requirements.
    • Continuing from point 3 (post the choice of a car loan product) and point 2 (selecting a car loan product directly from the main dropdown without running through the wizard), the page spread before you provides complete information about the selected car loan product.
    • The page details almost everything you need to know about the car loan, plus offers additional details through helpful links like ‘Check Eligible Loan Amount’ and ‘Check if you’re Eligible’. The ‘Apply Now’ button is prominently displayed on this page (the exception being in cases where BankBazaar.com isn’t a partner of the concerned bank/financial institution and thus, isn’t authorized to facilitate the application for the respective car loan product). Click on this button to set your car loan application process in motion.
    • Spread before you is an interactive loan application form. Complete the same and provide all the information as required. This form is next forwarded to the concerned bank for further processing. Ideally, the concerned bank will get in touch with you within the next 48 hours.
    • From this point on, the concerned bank will keep it touch and will provide you express details about the status of your loan application. Routine SMS and email intimations will constantly keep you in the loop, and our dedicated customer support team can be reached 24x7 in case of any concerns or queries with regards to your loan application.

    In terms of popularity, the following banks offer the most sought after car loan products in India,

    HDFC Bank Car Loan- Funding 100% of the intended car’s on-road price and offering a repayment tenure of upto 7 years, HDFC bank has always been a solid option when it comes to car loans in India. The terms offered by this loan product is very flexible, and the cake gets even more sweeter for existing HDFC bank customers who get the option of pre-approved car loans. Whilst the bank offers a very competitive interest rate on its car loan product, the prospect of EMIs amounting to just Rs.1671/lakh makes the deal that much more lucrative. No wonder car loans from HDFC bank have always remained an enduring favorite amongst the Indian public.

    Aside from the features listed above, HDFC Car Loan offers quick and hassle free loan processing, fixed interest rates that aren’t affected by market fluctuations, the option for car loans without the necessity for income proof and associated documents, car loans amounting to 6x of your annual income, and other such customer friendly features that are backed by a robust customer support initiative. Indeed, car loans from HDFC bank are feature rich, affordable, immensely popular and worth your undivided attention.

    ICICI Bank Car Loan- When it comes to a complete, feature-rich car loan option in India, few can match upto the versatility and simplicity as afforded by the ICICI Bank Car Loan. Offering funding to match 100% of the ex-showroom price of the vehicle, the car loan experience at ICICI is driven by powerful 24x7 customer support and ICICI’s brand of customer relationship management. The other pleasing features include loan tenure of upto 7 years, pre-approved car loans for existing ICICI customers, minimal documentation, hassle free application process and a simple option to apply for the car loan online. ICICI bank has configured its car loan product to be as customer friendly and approachable as possible.

    When it comes to a typical Indian customer, the applicable interest rate and the other associated charges holds great prominence with regards to the prospective car loan. In both these cases, the car loan from ICICI bank rules the roost. Alongside these factors, the consistent goodwill enjoyed by the ICICI bank and the positive feedback that it consistently receives with regards to its loan products must prove ample reasons to invest your interest in ICICI bank car loans, when you are out looking for one.

    SBI Car Loan- As India’s premier public sector bank, the State Bank of India (SBI) enjoys a level of popularity and support from the general public that few other public/private sector Indian banks can match upto. In this light, the SBI Car Loan is an intensely customer centric loan product. Offering very competitive interest rates, comfortable repayment tenure of upto 7 years, loan amounts that match upto 85% of the proposed vehicle’s on-road price and 0% pre-payment or foreclosure charges, the SBI car loan has its legion of loyal and enduring fans. Unique features such as the overdraft facility and the provision of optional SBI life insurance cover has contributed to SBI car loans’ lasting popularity.

    For a typical, first time car loan subscriber, the numero uno priority is in relation to the confidence, comfort and simplicity that his/her choice of car loan provider can elicit. In this regard, the public sector behemoth named SBI has little competition in India. Known for its people centric approach, the car loan product from SBI is highly sought after and will continue to remain a premier choice in the years to come.

    Axis Bank Car Loan- A premier private sector bank, the car loan product from Axis Bank is commended for its simple application procedures, customer friendly terms and conditions, robust customer support initiatives and adherence to the modern ways of personal banking. The bank offers upto 85% of the proposed vehicle’s on-road price, and in the case of some select car models, this number can hit 95%. Other friendly features include an attractive interest rate, comfortable repayment tenure ranging from 1-7 years, provision of loan to a wide demographic of individuals including salaried, self-employed, partnership firms, corporates, limited liability partnerships, etc. The true strength of the Axis Bank Car Loan is the wide popularity it enjoys amongst its target audience.

    Simplified eligibility criteria, minimal documentation and the ease of online application are some of the features that work strongly in favor of the Axis bank car loan. The bank has in store, car loan offerings that match upto the most discerning tastes and complies with the most budget conscious requirements. Configured to emerge as the most ideal car loan product available in the Indian market today, the Axis bank car loan will surely engage 100% of your undivided attention.

    Comparing Car Loans from Different Banks

    Bank. Loan Amount.Tenure.Interest Rate.Features.
    HDFC Bank100% (ex-showroom price)Upto 7 years10.50%-12.50% (depending on individual factors)
    • Fixed interest rates.
    • Loan approval in 30 minutes flat.
    • Low down payment and lower EMIs.
    ICICI Bank100% (ex-showroom price)Upto 7 years10.75%-12.75% (depends on the loan tenure)
    • 100% funding matching vehicle’s ex-showroom price.
    • Very streamlined loan application, approval and disbursement process.
    • Easy online application process.
    SBI 85% (On-road price, when net annual income is upto or above Rs.10 lakhs)Upto 7 years10.30% (may range upto 11.10% for differing conditions)
    • Interest calculated on daily reducing balance.
    • Financing based on the vehicle’s ‘on-road’ price.
    • No advance EMI.
    Axis Bank85% (ex-showroom price) 95% (on select models)Upto 7 years11.50%-12.50% (depending on individual factors)
    • One of the best interest rates offered in India.
    • Special schemes for Axis Bank salary account holders.
    • Loans offered from a minimum of Rs.1 lakh onwards.
    Magma Fincorp100% (ex-showroom price)Upto 5 years12%-16% (depending on individual factors)
    • Min loan amount- 3x annual income (salaried), 6x annual income (self-employed).
    • Minimal documentation.
    • Easy online, offline application process.

    When it comes to selecting the car loan that works best for you, some fundamentals will come in handy. The following list explains the do’s and don’ts when choosing the right car loan,

    Compare, Compare, Compare

    Check out the maximum number of options available to you. Not all car loans are created equally- and finding the best loan could involve some work. BankBazaar.com can help you here by helping you check out and compare between the various car loan and used car loan options available to you.

    What’s the Interest?

    The applicable interest rate is potentially the biggest factor when it comes to choosing the right car loan. Not surprisingly, the lower the interest rate, the better. This condition holds true even when a lower interest rate would mean that some of the expected features aren’t available in the loan.

    Keep it Simple

    Pay heed to your financial limitations and choose a car model that perfectly suits your budget. This will imply that your car loan is in line with your set requirements. Don’t fall prey to up-selling tricks at the car showroom.

    Hidden Fees and Charges

    Sometimes, what appears as obvious will have a hidden component. Be completely aware of the hidden fees and charges concerning the car loan, as also be cautious of time bound incentives and packages- they will expire soon and you may be left with a lesser deal than you hoped for.

    When applying for a car loan in India, across any of the possible lenders, the following documents must be submitted for verification. Note that, in their individual capacity, the lender may request you for more proofs and documents.

    • Know Your Customer (KYC) Documents, including, identity proof, address proof, age verification, completed application form with photographs and substantiated signatures. The associative documents could include PAN card, Voter’s ID, Ration Card, Aadhaar Card, etc. (any government issued document).
    • Income Proof as proved by 6 months bank statement, upto 3 months salary slips and income tax returns.
    • PAN Card- this helps to establish the potential borrower’s credit history.
    • If the applicant is self-employed professional/ non professional or a business/partnership firm, the bank may demand for a number of additional documents including business ownership proof, profit-loss documentation, etc.

    In order to be eligible for a car loan in India, the applicant must qualify against a certain set of expectations. Generally, car loan eligibility is dependent upon the following factors-

    • The applicant must be an Indian citizen.
    • He/she must not be younger than 21 years and older than 60 years at loan maturity.
    • The applicant must have a secure employment, with regular income and tenure at the same job for atleast 2 years.
    • He/she must have a respectable annual income that properly demonstrates his/her capacity for loan repayment. If spouse is signing up as co-applicant, then his/her salary is also considered.
    • Must possess a landline/cellphone that marks his address, and occupation of that address for an expected duration of time.

    Kindly note that all the numbers and variables here may differ from bank to bank. In their individual capacity, banks may have additional qualification procedures.

    The interest rates applicable to car loans in India will differ from bank to bank. These lenders depend on their unique criteria and base lending rates to decide upon the applicable car loan interest rates. However, in India, car loan interest rates ranging between 10%-15% are generally expected and considered competitive. Kindly refer to individual banks’ car loan pages on BankBazaar.com for more information in this regard.

    When we speak of a Car Loan EMI Calculator, we are referencing to an online tool that assists in the electronic computation of the Equated Monthly Installments (EMI) as applicable to your car loan. On BankBazaar.com, the interactive, time saving and informative Car Loan EMI Calculator will simplify this otherwise tedious and uninspiring task. This calculator exhibits the following characteristics,

    • Speed- Precise, informative EMI calculations in mere seconds.
    • Comprehensive Information- Get info on EMI, amortization details and much more.
    • 100% Free- Making complete use of this friendly tool costs you nothing, now and forever.

    Car Loan Application Checklist

    Step.Requirement.Inference.
    Submit Income ProofBank Statement (last 6 months)
    Pay-Slips (last 3 months)
    IT- Returns (last 2 years)
    Lender wants to establish your ability to repay the borrowed amount.
    Submit Proof of Address and IdentityPAN Card, Voter’s ID, Aadhaar Card, Passport, etc. Lender wants to establish your nationality, identity and permanent address.
    Credit HistoryPAN Card Lender wants to check your past credit records and establish if you can be trusted to make regular repayments.
    Information About VehicleSales Receipts from the Showroom from wherein the Vehicle was Purchased.Lender must confirm that the deal was affected as intended.
    Proof of Insurance and Driving LicenseCopies of the Vehicle’s Motor Insurance and your Driving License.Lender must establish that all laws and protocols are followed with regards to the purchased vehicle.

    Car Prices in India

    With the automobile industry expanding at a rapid pace and with more and more car manufacturers establishing their bases in India, buying a car has become a hassle-free procedure. Car prices in India vary depending on the segment of the car purchased and also with the additional features provided by the manufacturer. BankBazaar offers a comprehensive list on car prices across various models of cars sold in India. Be it a hatchback, sedan, luxury sedan, SUV or MUV, we equip you with the necessary pricing information to help you decide on the right car suited for your needs and current financial situation.

    Car Loan
    How much funding can I expect in terms of the car loan?

    This factor differs from bank to bank. While some banks offer the complete 100% of the vehicle’s ex-showroom price, banks such as SBI offer upto 85% of the vehicle’s ‘on-road’ price. Generally however, the minimum loan amount will be equal to Rs.1,00,000.

    Can I pre-pay the entire loan amount? What are the conditions involved?

    Yes, you can prepay the entire car loan and save on vital interest payments in the future. However, most banks will allow the pre-payment option after you have chalked off 6 months on your loan tenure. Plus, you will be expected to pay a small fee as pre-payment penalty that will be dependent on the leftover loan amount.

    What car models are financed by the standard car loan in India?

    Unless otherwise specified, almost all small to medium sized cars, Sports Utility Vehicles (SUV) and Multi Utility Vehicles (MUV) come under the purview of car loans available in India. However, as mentioned, refer to the loan brochure for exceptions to this rule.

    When applying for the car loan, do I need a guarantor/ security?

    Almost all car loan products available in India are secured loans, with the procured vehicle itself acting as the customary security. Most lenders in India will not insist upon any guarantors, however, if your annual income does not match upto the expected requirement, then you may be expected to sign-up a co-applicant and/or guarantor.

    What are the commonly available car loan repayment tenures?

    Repayment tenures usually range from 12 months to 84 months (1-7 years).

    The Diwali Dhamaka Flash sale is back again! Apply for a car loan through BankBazaar.com and upon approval of the car loan, you not only get to own your dream car but you can also purchase any item of your choice with a complimentary Amazon Gift Voucher worth Rs. 5,000. This promotional offer is valid for all car loan applications made from October 18th, 2015 to November 14th, 2015.

    Once the car loan application has been successfully sanctioned by the concerned bank, customers will receive the Amazon gift voucher in the e-mail address specified in the loan application form. The car loan approval has to be made by the bank by January 15th 2016, at the latest, otherwise the applicant will not be eligible for availing the promotional offer. This offer is valid on car loan products offered by specific banks only. In order to identify the same, a banner has been placed against relevant products, which displays the Flash Sale/ Amazon Gift Card Badge.

    Individuals who are 18 years old or above, are eligible to apply for a car loan through BankBazaar.com and avail this offer. The validity of the promotion is restricted to only one voucher per product for an applicant.

    Thinking of buying that new car you saw in the showroom? Want to upgrade your car to a bigger one for the convenience of your extended family? Looking out for a Car Loan? Whatever your need may be, you can easily avail a car loan through BankBazaar.com.

    Now, finance your dream of buying a car with an additional bonus! BankBazaar.com has been offering various offers and promotions on various financial products time and time again and this time we are offering you an exciting promotional offer on car loans. This limited period car loan flash sale will be available on car loan applications made through the site, wherein you can get an Amazon gift card worth Rs.5000 for approval of your car loan by the respective bank.

    In order to be eligible for this offer, the following conditions must be met:

    • BankBazaar.com, owned and operated by A&A Dukaan Financial Services Private Limited, is offering this promotion from 1st March, 2016 and it expires on 31st March, 2016, and only those who apply for a car loan during this period is considered eligible for the offer.
    • The time frame permitted for the Car Loan approval by the concerned bank is 15th May, 2016.
    • E-Gift card requests for Car Loan approval beyond this period, is not entertained.
    • The applicants must be at least 18 years old or above, at the time of loan application.
    • Only one application per customer will be considered for the offer.

    The E-Gift card offer is valid for car loans from select banking partners only and these Banks will have the Amazon Gift Card banner.

    Terms and Conditions

    • Cash or credit will not be available as an alternative for the E-Gift card, under this offer.
    • A prohibition is instituted on the resale, reproduction, trade or modification of the E-Gift card.
    • This Promotional offer cannot be clubbed together with any other deal, offer or promotion.
    • Employees of BankBazaar are ineligible for participation in the Promotion.
    • Modification of, addition to or discontinuation of the Promotion and/or its terms and conditions at any point of time without any prior notice, is the sole discretion of BankBazaar.
    • The eligibility of the participants to receive the E-Gift Card from Amazon, is verified solely by BankBazaar. By being a part of this promotion, the participants confirm their acceptance of the stipulated terms and conditions.
    • Any loss or damage of the e-gift card from Amazon is not a liability of BankBazaar.com, once it has been issued to the applicant.
    • The E-Gift cards would not be replaced or cancelled once it has been issued to the applicant.

    Once a customer is eligible and meets all the terms and conditions stipulated, the E-Gift card that he/she is qualified for is sent to the customer's e-mail address that is specified in the loan application form, upon the concerned bank's approval of the Car Loan application.



    News About Car Loan OR Get It On Your Finger Tips Google Play

    • Volvo’s S90 pre-booking has just began

      9Volvo has just started taking pre-booking orders for its new premium sedan, the S90. It is expected for the S90 to be launched during the festive season. The price of the sedan is expected to be between Rs 55 to 60 lakhs (ex-showroom price).

      The sedan’s engineering is based on the manufacturer's latest production platform, named Scalable Product Architecture (SPA), which makes the new car both lighter and stronger. The S90 is powered by a sub 2L diesel engine. It also features a typical three-box setup, C-shaped taillights, electrically adjustable front seats, 19-speaker Bower and Wilkins music system, an advanced infotainment system, ventilated seats, etc.

      20th July 2016

    • Volkswagen to install particulate filters on its petrol cars

      With a view on environment and increasing pollution, Volkswagen has decided to install particulate filters on its petrol cars. These filters, which are placed in the exhaust system will help reduce the emission of particulates from the car, thereby aiming to reduce emissions and improve overall air quality. This move follows the outcry over Volkswagen’s alleged diesel emission scandal, with the company aiming to go green and portray itself as a company which looks out for the environment. Volkswagen has previously used these filters on its diesel cars, reducing the harmful effects of particulates which can lead to heart attacks and premature death, if unchecked. The company plans to start off this program by installing the filters on its Tiguan and the Audi A5, both of which use the new 1.4 litre TSI engine. According to officials at the company, the program will be implemented from June of next year and while it might be a long time before it finds its way to India, this move is a step towards a better, cleaner world.

      18th July 2016

    • Jaguar introduces petrol variant of Land Rover Discovery

      Car enthusiasts in the country have something special to look forward to, with Jaguar Land Rover India launching a petrol version of its immensely popular SUV, the Land Rover Discovery Sport. This new variant which is priced at Rs.56.50 lakh (ex-showroom, Delhi) comes with a 2 litre petrol engine which churns out 240PS power at 340 NM torque. Aiming to counter the ban of diesel vehicles in NCR, the petrol engine is optional in the top end trim, the HSE. The power of this petrol engine combined with the off-roading prowess of the car could see the company create a niche for itself in the market.

      While the new engine is borrowed from the Jaguar XE, there is a slight difference, with the Discovery Sport getting a 9-speed transmission compared to the 8-speed one available in the XE. Land Rover aims to take on the competition from the likes of BMX X3, Audi Q5 and Mercedes-Benz GLC with this new variant.

      BankBazaar News About Loan

      13th July 2016

    • Honda Amaze crosses the 200,000 mark in sales in India

      Honda has sold over 200,000 units of the Amaze in India since it’s launch in April 2013. The compact sedan has been most popular in Tier I and Tier II cities. Among all the other Honda vehicles in India, the Amaze is the first with a diesel engine.

      The diesel version of the car is equipped with a 1.5-litre i-DTEC engine. The diesel version produces 200Nm of torque and 100PS of power. The petrol version of the car is equipped with a 1.2-litre and produces 109Nm of peak torque and 88PS of power. The version also has a 5-speed manual transmission.

      BankBazaar News About Loan

      11th July 2016

    • GLC Coupe from Mercedes Benz will Launch by 2017

      Mercedes Benz is soon to launch the GLC Coupe in the near future which will most likely be priced at around Rs.55 lakhs. Benz recently launched the GLC at Rs. 50.7 lakhs (Ex-showroom price Pune). Presently, Mercedes has a wide range of luxury cars in the Indian market. In 2015 alone, the German carmaker launched 15 new cars. It has plans to launch at least a dozen more new models in 2016. The GLC Coupe will most likely come out in India in 2017. The Coupe will either be fitted with a 220d diesel engine or the 250d engine. A petrol variant may also be on offer in a hybrid model as the 350e model. The gearbox will be a 9G-TRONIC automatic shift. Safety features will be in abundance with 8 airbags, ABS, pre-safe system, ESP, DSR and more.

      BankBazaar News About Loan

      7th July 2016

    • Tata Motors Design Studio showcases its work in designing new car models

      The Tata Motors Design Studio in Pune has been actively involved in creating car designs with innovative technology, working on both the exteriors and interiors of soon-to-be-launched Tata cars. The company also has studios in UK and Italy working on new car launches. The Tata Tiago that was recently introduced in the market was designed as a collaborative effort between these studios. Designers from the studios have developed the all-new Tata Tiago using the IMPACT design language. This is a forerunner for all the upcoming Tata passenger vehicles. With regards to the exteriors, the IMPACT design language is determined based on three features, namely, EXtraordinary, EXpressive and EXciting. The interiors follow the design language in the lines of INtouch, INtelligent and INviting. Upcoming Tata vehicles like Hexa, Nexon and the Tiago sedan will also carry the IMPACT design language. These vehicles will be showcased at the Auto Expo, this year.

      BankBazaar News About Loan

      5th July 2016

    • The fifth generation of the A4 sedan  launched in Indonesia, and soon to be launched in India

      Audi, the world-renowned German carmaker, has just revealed in Indonesia the fifth generation of the A4 sedan. There has been two variants launched of the luxury saloon. One is a FWD version which costs Rs 49.23 lakh (990,000,000 IDR) and the other is a Quattro (AWD) equipped variant which is priced at Rs 59.7 lakh (1,200,000,000 IDR).

      When Audi launches the same in India later this year, it will also feature Audi’s renowned 2.0-litre diesel mill which produces around 190PS of power and 400Nm of torque. In India, it is possible that the company may have the car featuring a manual gearbox for the first time in the A4.

      BankBazaar News About Loan

      29th June 2016

    • Porsche’s Macan 2.0-litre Petrol is launched at Rs 76.16 lakh

      Porsche has launched a new model called Macan which is a 2.0-litre petrol version of its mid-size luxury SUV, the Macan. The price of the vehicle is Rs. 76.16 lakh (ex-showroom price). This is the company’s newest addition to the Indian Macan lineup. Although one can only get their hands on their own set of wheels, bookings for the car have begun at Porsche dealerships across India. This variant is set to compete with the BMW X5, the Mercedes-Benz GLE and Land Rover Discovery Sport.

      BankBazaar News About Loan

      27th June 2016

    • Suzuki Swift Sport to come with a 1.4-litre Boosterjet petrol engine

      Swift Sport will soon be launched with a 1.4-litre Boosterjet petrol engine, according to reports from Suzuki. The new vehicle will carry the same engine as Suzuki Vitara S, which is currently being marketed in the international automobile market. The Suzuki Sport’s 1.6-litre engine gives a max power of 138PS, whereas the 1.4-litre Boosterjet is expected to touch 142PS. The regular Swift variant will come with the 1.0 litre Boosterjet engine, which will be present in the Baleno too. Suzuki will be launching the Baleno RS carrying the 1.0 litre Boosterjet engine around the festive season in India. The Vitara Brezza vehicle will soon come with a 1.0-litre turbocharged petrol engine. When Swift Sport is launched in India, it will compete against the Fiat Abarth Punto variant. In the Indian market, Swift holds the top spot as being the Maruti Suzuki’s best-selling vehicle. An automatic version of the Swift diesel vehicle will also be introduced by Maruti during the later course of the year. The best financing option while purchasing a Maruti vehicle is an affordable car loan that can be procured from any lender across India. 

      BankBazaar News About Loan

      20th June 2016

    • 2016 Porsche 911 to hit Indians Markets in June

      The new range of Porsche 911 sports Car consisting of 911 Carrera S, 911 Carrera Cabriolet, 911 Turbo S Cabriolet and 911 Turbo will be launched in India in June. All Porsche 911 models will feature revised rear section, updated headlights, 7 inch infotainment display and Porsche Communication Management (PCM) systems. The 2016 porsche 911 series will features flat six engines with 3 litre displacement and bi-turbo charging feature.

      Dreaming of purchasing your own sports car? Check out affordable car loan options on BankBazaar! Also, compare car loan features to make the right fianancial decisions.

      16th June 2016


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