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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    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
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    Perks
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    Eligibility Criteria
    9.00% Floating
    ₹500 to ₹7000 + S.T.
    1Cr Max
    7 Years
    Response Time Within 30 minutes
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    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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    9.15% - 11.6% Fixed
    Up to ₹5,150 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
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    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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    12.25% - 13.99% Fixed
    Up to ₹4000 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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    Eligibility Criteria
    9.15% 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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    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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    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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    8.90% Floating
    ₹500 to ₹7000 + S.T.
    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 27518 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

    • HDFC Bank Car Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      My experience of availing car loan from HDFC Bank was really good. I got the loan on time and the since I bank with them already I did not have go through much of documentation work. The interest rate and charges was normal and reasonable and it was a hassle free service in all.
      Was this review helpful? 2
      , nagpur
      Reviewed on Jun 23, 2017
    • Bank Bazaar Customer Support
      "Good Service"
      0.5 4.0/5 "Great!"
      Bankbazaar.com services are very good one and anyone can easily get the information from them. Website of the Bankbazaar.com is very easy to access, also its comfortable too. Response is also very good with the Bankbazaar.com and this is my first experience as well.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 23, 2017
    • Axis Bank Car Loan
      "Satisfactory"
      0.5 3.5/5 "Pretty good"
      Due to personal reasons I postponed the car loan plan with Axis bank. I am treated very well by Axis Bank executive as I have got the best service and response from them pertaining to the car loan application which is being submitted.The rates applied was 9% and the loan amount I tried to opt is 4 lakhs.
      Was this review helpful? 1
      , pune
      Reviewed on Jun 23, 2017
    • Bank Bazaar Customer Support
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I got a very good response from Bank Bazaar, when I reached them for the car loan, the response provided by them was very prompt, I had been using their service, it is really excellent. I am using Bank Bazaar mobile app and application it is very easy to check all the financial information on this site.
      Was this review helpful? 0
      , agra
      Reviewed on Jun 23, 2017
    • HDFC Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The response is very good from hdfc bank and the executive called me on regular basic to know the application status of the car loan, but my plan got postponed. Interest for the car loan was around 9% with the HDFC bank and the loan amount was about 8 lakhs,
      Was this review helpful? 0
      , agra
      Reviewed on Jun 23, 2017
    • HDFC Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The response is very good from hdfc bank and the executive called me on regular basic to know the application status of the car loan, but my plan was postponed. Interest for the car loan was around 9% with the HDFC bank. And the loan mount was eight lakhs.
      Was this review helpful? 0
      , agra
      Reviewed on Jun 23, 2017
    • Bank Bazaar Customer Support
      "Good Service"
      0.5 4.0/5 "Great!"
      The bank bazaar web site helps me to compare and choose the products in the market. The bank bazaar web site is easy to use and user friendly. The bank bazaar customer service really helped me in concern to my car loan application. Overall I can say, bank bazaar gave a satisfied service
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • Axis Bank Car Loan
      "Satisfactory"
      0.5 3.0/5 "Satisfactory"
      Due to my personal reason, I have not taken the car loan with the Axis bank. Interest rate with the Axis bank haven't discussed about this. Customer service with the Axis bank and they have done the follow on timely basis, also they have done the things in good manner.I have applied for three to five lakh loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • Bank Bazaar Customer Support
      "Good Service"
      0.5 4.0/5 "Great!"
      The services Bankbazaar has been very much satisfactory and the response has been really good too. This was very first experience in bank bazaar. and I came to know about bank bazaar via goggle. The website is good and overall I can say it I had no difficulties to get details of the banks and their deals.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 23, 2017
    • Axis Bank Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Due to personal reasons I could not proceed with Axis bank for the car loan. I got a proper response and follow up from the bank checking about my requirement. The loan amount I have applied for 4.5 lakh In all it was a smooth experience.No hassle faced.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 23, 2017
    • SBI Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      It was a tremendous approach by state bank of India with respect to my car loan application. It is an very fast and quick response from SBI end. State bank of India has good transparency with their service, and everything was clear and keen in their service. They just took twelve hours to disburse my car loan. The rate of interest is very competitive with SBI as it was around 8.75%
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 23, 2017
    • Bank Bazaar Customer Support
      "Excellent"
      0.5 4.5/5 "Excellent!"
      My loan application was addressed in a proper way. I submitted the loan on their website immediately when I received calls from their end and they inquired the information from me and forwarded my application to the bank. I received proper service from bankbazaar.com and this was not first experience I have already availed credit card from bank bazaar.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • Oriental Bank of Commerce Car Loan
      "Average"
      0.5 2.0/5 "Expected more"
      I had applied for a car loan with Oriental Bank of Commerce. The team contacted me once and collected all my details the reason I did not go with Oriental bank of Commerce for the car loan because the rate of interest was high 10% and I have asked they to reduce it they straight away they cannot do that.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • Kotak Car Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      Six years back, I had taken car loan from Kotak Mahindra, it got completed. I purchased Hyundai I 10 car worth Rs.3.5 lakhs, Kotak Mahindra approved the requested amount with an interest rate of 11.5% but it was higher side at the time. Now it got closed successfully.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • HDFC Bank Car Loan
      "Smooth process"
      0.5 5.0/5 "Blown Away!"
      I had taken a commercial car loan from HDFC Bank earlier and at that moment I received a good deal on the interest rate and charges. It was a smooth process and I got the loan on time as well. The customer services and response was good and all the paper works were collected on time.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 23, 2017
    • Bank Bazaar Customer Support
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar is good in providing proper information in regards to the loan. I did not face any challenges with bankbazaar at any point of time. The website is so simple to access and it is very informative. It is easy to choose the bank for the loan service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 23, 2017
    • HDFC Bank Car Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      Once I submitted my application, they have responded.Once when the application was submitted It was not a good experience they had offered 10.25% as rate of interest which was bit high.compare to other banks. I had idea of applying five lakh rupees. I was over all not satisfied with the rate of interest so dropped the plan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 23, 2017
    • SBI Car Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      To start off, I had taken my car loan from State Bank of India , I had to go over to the bank to submit my paper work. I also had to visit the branch often for any queries. The charges and interest rate is normal. There is no much of difference when compared to the other private banks too.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • Bank Bazaar Customer Support
      "Proper Service"
      0.5 4.0/5 "Great!"
      My loan application was addressed in a proper way. I submitted the loan on their website immediately I received calls from their end and they inquired the information from me and forwarded my application to the bank. I received proper service from bankbazaar.com.
      Was this review helpful? 1
      , agra
      Reviewed on Jun 22, 2017
    • HDFC Bank Car Loan
      "Delayed Response"
      0.5 4.0/5 "Great!"
      I did not receive that much good response from HDFC bank for the car loan service. Actually I got delayed response from the bank. Also initially I was planning for the second hand car later I afford new car so I did not continue the loan process with HDFC bank.
      Was this review helpful? 1
      , agra
      Reviewed on Jun 22, 2017
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