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    This is our forte- helping you compare the finest deals. Additionally, we'll handpick offers that suit your profile and present the best rates from several banks, so you can make a thoroughly-informed decision.

    Breaking down offers

    We're obsessed with giving you a 365 degree view of offers. So, we'll break it down for you - EMIs, eligibility, maximum amount that can be borrowed, fees, hidden charges... no more getting fooled by the fine print!

    Cheaper than dealer

    There's a good reason why thousands of customers choose BankBazaar- we're cheaper than most dealers. Best part- by applying here, you can get the lowest rates AND still demand all those freebies from your car dealer!

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    You don't have to fight for parking space! Jokes apart, applying online will help you save time and money; plus, you'll be able to use the services of our super-friendly customer service team at anytime and get all your queries answered.

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    We showcase the best loan offers and help you compare them... what next? Well, we'll aid you in applying to the bank of your choice and work with you right up to the delivery of the loan!

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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
    Up to 1%
    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
    9.9% Floating
    0 One time fee
    1L - 2Crs Women's Special!
    1-7 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    9.75% Fixed
    0 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
    13% - 14.5% Floating
    0.75% 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% Floating
    0 One time fee
    1L - 2Crs
    1-7 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% Floating
    0 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
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    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 21693 Users

    Fees & Charges

    Promised Interest Rate

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    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 30 Aug 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.



    • Everything You Need To Know About Car Loans

      Did you know? Most Car Loans in India are secured loans (the car serves as the security/collateral). Also, the maximum loan amount depends on the vehicle you wish to purchase, but most banks offer up to 100% of the vehicle’s on-road price. So, are you eligible? You are eligible if you’re over 21 years and less than 60 years at loan maturity and have a secure job with a regular income (at least Rs. 2,40,000 per annum). If you are co-applying for it with your spouse, then their salary is also taken into consideration. A little insight into interest rate and fees: Interest rates - 9.85% to 13.65%, processing fees - Rs. 500 to Rs. 5,000 and Pre-Closure Charges - 2% to 4% of the outstanding loan amount. Keep these documents handy: Photo ID and age proof, Signed application form with photograph, Residence proof and Bank statement for the last 6 months. Salaried applicants need last 3 months salary slips and Form 16/Income Tax Returns. Self-employed applicants need Last 3 years Income Tax Returns with computation of income and last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account. Got it? You are now buckled up to choose the right Car Loan for you. Go ahead!

      Stay up to date! Daily finance news at your fingertips. Explore Car Loans on Mobile App

      BankBazaar News About Loan

      22nd August 2016

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    • Renault Unveils Renault Kwid for the Brazilian Market

      French carmaker Renault has unveiled the new India made Kwid 1.0 in Brazil. The Brazilian version will weigh 130 kg heavier than the one made for India. This version is likely to be offered with airbags as a standard fitment.

      The 1.0 litre engine will come with a 5-speed manual transmission and optional AMT transmission to produce 75PS of power. Speaking of the interiors, the Kwid has undergone a considerable change in order to cater to the Brazilian market. It must be noted that the manual and automatic transmission models were displayed by Renault at Auto Expo earlier this year.

      29th August 2016

    • What they think about Insta Shine Sponge And Motomax Shiner Spray

      Vehicle needs babying as much as any human being. Motomax introduced 2 car care items (Motomax Shiner Spray and Insta Shine Sponge) in the market to rave views. Any time you take out your vehicle for daily commute or a drive, it has to wage a war against external factors such as dust, dirt, chemicals, uv rays, bird poop, grime and even tar (on new or under construction road). These products are designed to resuscitate, guard and extend the life of the body of vehicle.

      BankBazaar News About Loan

      25th August 2016

    • New Swift rumours – here’s what we know so far!

      The rumour mill was running at double capacity following leaked pictures of (what’s believed to be) the new Maruti Suzuki Swift.

      What we know for sure so far is that the new car Maruti Suzuki is planning for India is no mere segment update. A new set of images of the car spied driving around under cover reveal a bolder front end with a dual split grill and a far more efficient overall design. The headlights have received a slight touch up from the existing Swift, and so have the tail-lamps. The car is shorter than the original Swift in terms of length, but wider.

      The new Swift may also incorporate the new SHVS Mild Hybrid technology, although it’s unlikely that this technology will be used by Maruti Suzuki in any market outside Europe. If not, the new Swift may come equipped with the 1.4 litre BoosterJet or the 1.2 litre dual injection petrol motor. It’s also possible that the car may be equipped with the 1.0 litre turbocharged BoosterJet, that’s rumoured to be the new introduction for many of Suzuki’s new cars.

      We’ll only know for sure at Suzuki’s next press conference at the Paris Motor show on the 29th of September.

      BankBazaar News About Loan

      24th August 2016

    • Porsche to launch two new cars in India this year

      Car enthusiasts in the country are in for a treat, with Porsche all set to launch two new cars in the current year. Porsche, which already has a number of offerings in the country will amp up the competition, with the 718 Boxster and Cayman ready to hit our roads soon. The new 718 series, which sports turbocharged four-cylinder engines will bring a new driving experience to car lovers in the country. The convertible Boxster is likely to be launched first, with the Cayman following suite. Both the Boxster and Cayman will feature a 2l turbocharged engine which is capable of churning out 300PS at 380Nm of torque, with the cars expected to reach a top speed of 275 km/hr and finish a 0-100km/hr drag in around 5 seconds. The cars will come with a 7-speed dual-clutch automatic transmission.

      In addition to the performance, these beasts have also undergone certain cosmetic changes, with new LED headlamps, better air-conditioning vents, etc. The company is likely to price the models at a cost of Rs. 85 lakh onwards.

      BankBazaar News About Loan

      23rd August 2016

    • 10,000+ bookings received for Datsun’s redi-GO

      Indians love small cars, and the popularity of these nimble vehicles can be witnessed on every road in the country. With competition heating up in the entry level segment, car manufacturers are doling out new models at competitive prices. Datsun’s redi-GO, the latest entrant in this segment has already piqued the interest of car buyers, with the company receiving over 10,000 bookings since its launch. Sold at Nissan dealerships in India, the redi-GO costs Rs. 2.39 lakh (ex-showroom, New Delhi) and has been designed to target the younger audience. A majority of the bookings that have been received are from tier-2 and metropolitan cities, highlighting the mass appeal generated by this bold looking car.

      The company has started delivering the car from this month and aims to increase sales during the festive season. The redi-GO is currently powered by a 3-cylinder, 799cc petrol engine which produces decent power for city use, with its USP being a high fuel efficiency of 25.17 km/l. Nissan is also offering an extended warranty to buyers in addition to free roadside assistance.

      BankBazaar News About Loan

      23rd August 2016

    • InTouch branch launched by State Bank of India.

      The first SBI InTouch branch has been launched in the southern districts of Tamil Nadu. These branches would provide various online services to SBI customers. The SBI InTouch services were launched by B. Ramesh Babu, Chief General Manager of SBI’s Local Head Office (LHO) in Chennai. Customers can use services like opening bank accounts and getting personalised debit cards within fifteen minutes. The SBI InTouch branch will also carry a Dream Zone through which customers can avail car loans, explore car models, dealers, get on-road price and also check their loan eligibility. Tamil Nadu currently has eight SBI InTouch branches and twenty more would be added by September end. P.K. Mohandas, Regional Manager (Madurai) and the Deputy General Manager (Business and Operations) of SBI’s Madurai Module, Manikantan Nair, were also present during the launch.

      BankBazaar News About Loan

      8th August 2016

    • Exclusive event for women held by Lamborghini

      Automobili Lamborghini India, the Indian wing of Lamborghini recently organised an exclusive drive for women. Titled ‘Super Sports Car Drive for Women’, this initiative was kicked off with the intention to encourage and promote driving among women, especially the passion towards driving high performance cars. Lamborghini aims to remove the idea that women can’t drive high performance cars through this initiative, which was set in motion by Mr. Sharad Agarwal, the head of Lamborghini India.

      Nine women participated in this drive, with Ms. Sheetal Dugar, the first woman to own a Lamborghini in India leading the team. In addition to being the first female owner of a Lamborghini, Ms. Dugar has also participated in and won Super Racing Club GT’s races, putting her in a distinguished league. She hoped that more events like this will be organised in the future, helping women realise their passion towards driving, while testing their own boundaries. The drive, which commenced from the Shangri-La Hotel culminated at the Buddh International Circuit, where the drivers experienced a unique driving experience which was led by professional racer, Armaan Ebrahim.

      BankBazaar News About Loan

      2nd August 2016

    • The 8th Gen Toyota Camry Likely To Feature A Host Of Upgrades, Slated For Launch In 2018

      If the spy shots taken by Motor 1 are to be believed, Toyota is currently road-testing its all new 8th generation Toyota Camry. The previous version of the Toyota Camry was launched in August of 2011 and was later displayed in an all new avatar at the 2014 New York International Auto Show.

      The new Camry is likely to feature Toyota’s NGA-C platform, which is a step above the existing TNGA (Toyota New Global Architecture) platform. In most probability, the car will feature an improved version of the 2.5-litre Dual VVT-I, naturally aspirated four-cylinder petrol engine delivering max power of 178 PS and the VVT-iW unit delivering max power of 235 PS which provides power to the Lexus NX. Keeping in line with the offering on the current variants, Toyota is likely to offer a hybrid engine on the upcoming Camry as well.

      While there is no word regarding the launch of the new Camry in India, but Toyota is very likely to offer a hybrid variant of the vehicle as well, owing to the success of the current model.

      BankBazaar News About Loan

      28th July 2016

    • Automatic version of Mahindra XUV500 launched

      Mahindra Automobiles recently launched an automatic version of its popular premium SUV, the XUV500. The 1.99 litre diesel engine will come as a huge boost to the company, primarily due to the fact that diesel engines over 2 litres are facing the heat in NCR. The new AT variant will be available from the W6 model onwards, with the price ranging between Rs. 14.51 lakh for the base variant and Rs. 17.32 lakh for the top-end one (ex-showroom, New Delhi). The automatic version will come with a 6-speed gearbox which should make driving this SUV easier, making it a better option in city traffic. Based on the existing 2.2 litre diesel engine, the new 1.99 litre engine will not compromise on performance, with it expected to churn out 142PS of horsepower and 320 NM of torque.

      In other related news, it is rumoured that Tata Motors is also working on a new diesel engine for its Safari, aiming to overcome the ban on diesel engines with a capacity of over 2 litres in NCR.

      27th July 2016

    • 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


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