If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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    We found 34 Car Loan for NRIs

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    13.1% - 15% Floating
    0
    20K - 10L
    1-5 Years
    Response Time Within 30 minutes
    Ad Rs.2,500 Amazon voucher free Paperless approval option available
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    Eligibility Criteria
    9.10% - 15% Fixed
    Up to ₹ 6,153 One time fee
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
    What you'll love
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.95% Floating
    ₹500 to ₹7000 + applicable tax
    1Cr Max
    7 Years
    Response Time Within 30 minutes
    Paperless approval option available
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    Perks
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    Good to Know
    Eligibility Criteria
    9.50% - 11% Fixed
    2,500 One time fee
    1L Min
    1-5 Years Tenure
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
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    Eligibility Criteria
    8.25% - 9% Fixed
    Up to ₹4,720 One time fee
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free PAPERLESS APPROVAL OPTION AVAILABLE
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    12.5% - 14.5% Floating
    2% One time fee
    1.5L - 25L
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free 100% financing on car value
    What you'll love
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    Fees & Charges
    Good To Know
    Eligibility Criteria
    8.75% - 11.50% Fixed
    Up to ₹5500
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
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    Eligibility Criteria
    13.50% - 15% Fixed
    Up to ₹5,310 One time fee
    75K Min
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free Paperless approval option available
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    Perks
    Fees & Charges
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    Eligibility Criteria
    9.15% - 9.30% Floating
    575 One time fee
    1L - 2Crs
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
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    Perks
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    16% Floating
    1% One time fee
    50K - 15L
    1-4 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
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    Eligibility Criteria
    12% - 14% Fixed
    2,500 One time fee
    1L Min
    1-3 Years Tenure
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
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    Eligibility Criteria
    8.85% Floating
    ₹500 to ₹7000 + applicable tax
    1Cr Max
    7 Years
    Response Time Within 30 minutes
    SPECIAL OFFER FOR WOMEN
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    Car Loan for NRIs is Rated as "Great!" by 28375 Users

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    Car Loan BYTES FROM OUR KITCHEN

    Recent times have seen a surprising rise in the demand for car loans from NRIs. This has been attributed to two major factors: the tendency to buy high-end cars and the increase in frequency of visits to India. An Indian citizen who resides abroad and is a salaried professional or is self-employed in his country of residence qualifies as an NRI and is eligible to apply for NRI car loans.


    NRI car loans able for purchasing a new or a used car. All banks have a list of approved countries for this purpose, out of which US, UK, Malaysia, Singapore and West Asian countries are commonly approved.

    NRI Car Loan Eligibility

    • NRIs with a Resident Indian as a guarantor, can apply.
    • Both applicant and guarantor, should be at least 21 years old and not more than 65 years old.
    • Loan has to be repaid by the time the applicant is 65 years old.

    Documentation Required for a NRI Car Loan

    • Valid Indian passport
    • Proof of a steady source of income
    • Must be employed abroad for at least two years
    • Valid job contract or work permit
    • Has an NRI account with the Bank

    Features and Benefits of NRI Car Loans

    • Documentation: Documents can be submitted at the branch of the bank in your residing country, or it can be sent online or through your co-applicant.
    • Amount of loan: The loan amount that will be sanctioned depends on the concerned bank.
    • Loan to value (LTV): LTV is the ratio of the loan amount that can be borrowed from the bank to the actual value of the car or its ex-showroom price. Most banks offer 85-100% of the ex-showroom price as loan.
    • Tenure: Tenure of loan ranges between 5 to 7 years, from the date of purchase of the car.
    • Interest rate and other charges: There is no discrepancy in the interest rate for NRI car loans and that which is offered to resident Indians. E.g., interest rate for car loans from SBI is 10.45%, and this is applicable to both resident Indians as well as NRIs.
    • Repayment: Repayment can only be made through remittance made through normal banking channels/ remittance received from outside India / non-resident external accounts or out of income earned from a property in India. Resident Indians can repay loans on behalf of their NRI relatives.
    Apply for Car Loan Online

    NRI Car Loan Interest Rates

    The car loan interest rates that are applicable to resident Indians are applicable to NRIs as well. There is no discrepancy in this regards. Taking SBI as an example, the interest rate for car loans from SBI is 10.45%, and this is applicable to both resident Indians as well as NRIs.

    How to Calculate EMI for your NRI Car Loan?

    The Car Loan EMI calculator is an easy to use tool which projects an estimate of the monthly installments that has to be paid out to the bank and the costs incurred. In order to use this, enter information such as principal loan amount, interest rate, loan tenure in years or months, additional monthly payments, if any, etc. Then click on "Calculate" to get comprehensive information on the repayment schedule.

    Top Banks Providing NRI Car Loans in India

    Some Indian banks provide car loans to NRIs and this includes Federal Bank Ltd, State Bank of India (SBI), State Bank of Travancore, etc.

    SBI NRI Car Loan

    NRIs who wish to avail a car loan from State Bank of India, cannot have the vehicle registered in his/her name and will only be treated as the guarantor. However, unlike a resident who acts as a guarantor, the NRI guarantor will have to pay the EMIs for the car loan from his/her NRI account. Thus, the person in whose name the car is bought will be treated as the co-applicant in the loan. Both the co-applicant who is a resident Indian, and the guarantor (NRI) should fall in the age group of 21-65 years.

    Federal Bank NRI Car Loan

    Federal Bank offers car loans only to existing NRI customers who have at least three-five years of banking relationship with the bank. This also ensures quick processing and less documentation for the car loan.

    State Bank of Travancore NRI Car Loan

    NRIs who have a net annual income of Rs. 3, 00,000 and above are eligible for availing a car loan from SBT. The loans can be taken in the name of a close relative. The bank stipulates that the vehicle should be hypothecated to the bank or a mortgage of property is to be made. Repayment have to be made in 84 Equated Monthly Installments.

    Bank of Baroda NRI Car Loan

    Bank of Baroda offers car loans to NRIs on the condition that a close relative of the applicant, who is a resident Indian, should act as the guarantor or co-applicant. The vehicle will be registered in the name of the applicant/co-applicant who has a local residential address proof.

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  • Car Loan for NRIs Reviews

    • Bank Bazaar Customer Support
      "Very good service"
      0.5 4.0/5 "Great!"
      Bank bazaar is pretty quick in their response . It would be great if bankbazaar provides the suitable partner banks. The customer service and the response with bankbazaar is above average . The website of bank bazaar is easy to use and customer friendly. The data base questions can be reduced in future.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • Dena Bank Car Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I have dropped the car loan plan because it is tough to get the loan with Dena bank as well I had personal reason too so that was the reason I haven't proceed with Dena bank loan. The customer service and the response with Dena bank is average. The rate of interest is high when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • HDFC Bank Car Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      I got the car loan within 3 days of time from HDFC bank. The customer service and the response part is really good with HDFC bank. The rate of interest is nominal with HDFC bank car loan. I am happy and satisfied with the loan amount, because the required loan amount has been approved by HDFC.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Satisfactory service"
      0.5 5.0/5 "Blown Away!"
      I got to know about bankbazaar through my friends referral. The customer service and the response is fantastic with bankbazaar. The website of bankbazaar is easy to use and customer friendly. It would be great if bankbazaar recommends the products with low interest rates. I am happy and satisfied using the bankbazaar service.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 25, 2017
    • Axis Bank Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I hold a salaried account with HDFC bank, so I got the car loan with HDFC bank with best interest rate, so that was the reason I haven't proceed with Axis bank car loan and moreover the Axis bank offers the loan with high rate of interest for all the products . The customer service and the response with Axis is average . The service which is provided by AXIS bank is very much average.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      Bank bazaar gives the best response in concern to any query or any product related queries. I am with bankbazaar for past 2 years. I got to know about bankbazaar through google web search. The customer service and the response with bankbazaar is really good. The website with bankbazaar is easy to use and customer friendly. I am happy using bankbazaar website.
      Was this review helpful? 0
      , narasaraopeta
      Reviewed on Jul 25, 2017
    • Sundaram Finance Car Loan
      "Good service"
      0.5 2.0/5 "Expected more"
      Initially the Sundaram finance executives gave a call and explained me about the product and they asked me to submit the documents and I have done it, but still no one turned up with the status of my car loan application. The customer service and the response is good with Sundaram finance. The rate of interest is high when compared with others.
      Was this review helpful? 0
      , narasaraopeta
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      Through advertisements I came to know about bankbazaar, I am with bankbazaar for more than 2 years. The customer service and the response is very good with bankbazaar. The website of bankbazaar is easy to use and user friendly. The bankbazaar gives very good comparison with the products which is very helpful to get the product with the best price.
      Was this review helpful? 0
      , faridabad
      Reviewed on Jul 25, 2017
    • Au Small Finance Ltd Car Loan
      "Below Average service"
      0.5 1.0/5 "Really Bad"
      The Au finance service is not up to the mark in regards to my car loan application. The customer service and the response need to be improved with Au finance. The rate of interest is high when compared with others. They gave below average service in concern to my car loan application.
      Was this review helpful? 0
      , faridabad
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I know bank bazaar through google web search. I am with bankbazaar for more than a year. The customer service and the response is average with bankbazaar. The website with bankbazaar is easy to use and user friendly. I would say that bankbazaar gave average service .
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Jul 25, 2017
    • Dena Bank Car Loan
      "Below average service"
      0.5 1.0/5 "Really Bad"
      Dena bank didn't give any kind of response in concern to my car loan application, so that was the reason I haven't proceed with Dena bank. Then I have proceeded with other bank and got the car loan with the best interest rate. The customer service and the response need to be improved with Dena bank. The rate of interest is nominal with Dena .
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Very Nice service"
      0.5 5.0/5 "Blown Away!"
      I got a fair idea about bank bazaar through Google advertisements. I am with bank bazaar for the past 1 year. The website of bank bazaar is easy to use and user friendly. The customer service and the response is very good with bank-bazaar. I am completely happy with the service rendered by bankbazaar.com.
      Was this review helpful? 0
      , goa
      Reviewed on Jul 25, 2017
    • HDFC Bank Car Loan
      "Average Service"
      0.5 1.0/5 "Really Bad"
      The Required loan amount was not approved by Hdfc bank, that was the reason I haven't got the car loan with HDFC . I would like to say that the HDFC bank need to intimate about the eligibility criteria to the customers in prior. The customer service and the response is good with HDFC bank. The rate of interest is nominal with HDFC bank.
      Was this review helpful? 0
      , goa
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 4.0/5 "Great!"
      For past 1 year I am with bank bazaar. I came to know about bank bazaar through my friend's referral. The customer service and the response is really good with bank bazaar. The website with bank bazaar is easy to use and user friendly. Glad to be a customer of bankbazaar.
      Was this review helpful? 0
      , patna
      Reviewed on Jul 25, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I didn't choose HDFC bank for my car loan due to high interest, so that was the reason I haven't got the car loan with HDFC bank. The customer service and the response was good with HDFC bank. The rate of interest is high when compared with others. But from the service point of view HDFC is doing good.
      Was this review helpful? 0
      , patna
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I get to know about bank bazaar through online web search. The customer service and the response was very good with bank bazaar. I am with bank bazaar for past 1 year. The web site with bank bazaar is easy to use and user friendly. I am satisfied using bank bazaar website.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 25, 2017
    • HDFC Bank Car Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The HDFC bank service was very good, but they told that they have seen the backlogs EMI's to be paid in my profile, so that was the reason I haven't got the car loan with HDFC bank. The customer service and the response part was good with HDFC . The rate of interest is nominal with HDFC bank. I got the required loan amount with other private finance company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      The overall experience at Bankbazaar was satisfactory. The process of the team contacting me was instant and I had no hassles with them. I got proper follow up calls and the website is also created well and it is very informative. The comparison options is useful.
      Was this review helpful? 0
      , guntur
      Reviewed on Jul 25, 2017
    • Sundaram Finance Car Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      Sundaram Finance contacted me initially and later there was no follow up from them for the car loan. It has been a average experience and there was no information given to me on the rate of interest and processing charges. I would not wish to recommend them too.
      Was this review helpful? 0
      , guntur
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Overall a good experience"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar surely deserve 5 star rating as I am very much impressed with their service. The team was prompt in contacting me and they informd me the details too. The information on the website is also clearly described, making it easier to navigate through the offers.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 25, 2017
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