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 Repayment Options for Car Loans

    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
    What you'll love
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    Perks
    Fees & Charges
    Good to Know
    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
    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
    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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    Perks
    Fees & Charges
    Good to Know
    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
    What you'll love
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    16% Floating
    1% One time fee
    50K - 15L
    1-4 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
    What you'll love
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    Perks
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    Fees & Charges
    Good to Know
    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
    8.90% Floating
    ₹500 to ₹7000 + S.T.
    1Cr Max
    7 Years
    Response Time Within 30 minutes
    SPECIAL OFFER FOR WOMEN
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    Repayment Options for Car Loans is Rated as "Great!" by 27548 Users

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    Car Loan BYTES FROM OUR KITCHEN

    Car Loan Repayment

    Car loans are becoming the usual way to purchase an automobile owing to the convenience and flexibility that comes with it. First of all, you don’t have to haggle with dealers for loans or empty your lifetime savings to buy a four wheeled dream. Instead, you can just apply from the comfort of your home and what's more, you can even repay in an instant through the click of a button.


    Repayment refers to the periodic payments that you make to satisfy the car loan. There are several ways by which one can repay a car loan – regular EMI, step-up EMI and step-down EMI to name a few. To avoid any hassles later, borrowers must be clear about the advantages and disadvantages of every repayment method before signing the car loan agreement.

    Car Loan Repayment Types

    Following are the six commonly offered repayment schemes.

    • Normal EMI

      The most common repayment method, a monthly instalment amount is decided based on the tenure and interest rate. EMIs are paid either at the beginning of each month or at the end of a month.

    • Step-Down EMI

      In this repayment method, the EMI amount gradually decreases from highest to lowest. The EMI reduces based on the number of payments done.

    • Step-Up EMI

      In step up EMI, the initial EMI is charged less and it increases based on the premise that the expected income of the borrower also increases. Generally, the EMI change would happen twice during the entire loan tenure.

    • Special tie-up Method

      Sometimes the dealer and the bank have a tie-up in a way that whenever there is excess funds, the same is used for prepayment of the car loan. This helps the borrower to reduce the principal as well as to reduce the total interest.

    • Balloon EMI

      In this method, borrowers are allowed to make lump sum payments towards the end of repayment tenure. The balloon method reduces the initial burden of a loan on the borrower.

    With banks offering you the flexibility to select a convenient repayment method, you should be able to zero-in the best scheme based on the interest amount offered, the loan quantum and your financial situation.

    Apply for Car Loan Online

    Car Loan Repayment Schedule

    A car loan amortization calendar or schedule will show how your EMIs are used to pay off the principal and interest each month. A car loan repayment schedule calculator will give you information about the EMIs, interest on the outstanding principal and also how the principal decreases on a monthly basis because of the EMI payments.

    To arrive at a car loan repayment schedule, you can make use of an online amortization calculator. You will have to enter details like the loan amount, annual rate of interest and the total number of EMI payments. The calculator will project details about the EMI, interest on principal and also the reduced principal. These details will help you plan your prepayment and also to make future budgets.

    Car Loan Repayment Calculator

    A car loan EMI calculator when it comes to deciding the loan amount and tenure for the prescribed interest rate. Before applying for a car loan, you should calculate the affordability based on the interest rates and also decide on the tenure. This will not only ensure that you are not going overboard with the loan amount but also help you choose a vehicle that fits your budget.

    In an online car loan repayment calculator, you have to input the loan amount, tenure and interest rates. The calculator will instantly display the monthly EMI, total interest payable and other amortization details. This will help you plan better for the future since you will know the monthly EMI that will be debited for the car loan repayment. Also, you can keep changing the tenure and loan amount multiple times for the interest rates offered to arrive at a suitable EMI.

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  • Repayment Options for Car Loans Reviews

    • Kotak Car Loan
      "Its Fine"
      0.5 4.0/5 "Great!"
      My existing car loan was running with Kotak Mahindra its good. Every month my due date falls on 5th, ECS automatically debit the EMI from my ICICI account. I have taken the amount of Rs.3.72 ,000 to purchase Mahindra Scorpio its good. Everything is good and convenient.
      Was this review helpful? 0
      , erode
      Reviewed on Jun 28, 2017
    • SBI Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The car loan service with State bank of India was really good. Within 2days of time SBI has disbursed my car loan. The rate of interest is low with SBI, when compared with others. I am happy with the loan amount. They approved the loan amount more than my expectation . I got Wagon R car with the SBI car loan. The service provided by SBI on my car loan is very much satisfactory.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Jun 27, 2017
    • Bank Bazaar Customer Support
      "good"
      0.5 3.0/5 "Satisfactory"
      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? 1
      , lucknow
      Reviewed on Jun 25, 2017
    • HDFC Bank Car Loan
      "Smooth process"
      0.5 5.0/5 "Blown Away!"
      My car loan is with HDFC Bank and the process for the loan is good. I got the loan on time and I have also closed it as well. The bank done a good job for this process too. It was a nice experience and the after loan services went through without any hassles.
      Was this review helpful? 0
      , kota
      Reviewed on Jun 25, 2017
    • Bank Bazaar Customer Support
      "Good Service"
      0.5 4.5/5 "Excellent!"
      On my loan application, I got proper response from bankbazaar. The moment when I visited their website for the loan. It was easy to apply for the loan on their website. They are very prompt in processing the application and they forwarded it to the bank.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 24, 2017
    • Axis Bank Car Loan
      "Interest rate is high"
      0.5 4.5/5 "Excellent!"
      When I applied for the car loan with Axis bank I had received very good response from them. But I had got good interest rate in my existing bank which is ICICI, so I just switched over to ICICI bank for the car loan. Interest rate is high with Axis bank.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 24, 2017
    • review Car Loan
      "Pretty Good Bank"
      0.5 5.0/5 "Blown Away!"
      I availed car loan from Saraswat bank. Actually my family members are holding savings account with this bank. When I approached the bank for the car loan, I had received very good support from them. Actually I am pregnant, they had arranged an executive to do all the formalities and also when they required me to visit the bank to proceed further, they arranged vehicle for me to reach the bank safely. Their customer approach is awesome. Their way of welcome is superb. The interest rate for the loan is around 8.55%. And I am pretty happy with the bank because of their customer service.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 24, 2017
    • Bank Bazaar Customer Support
      "Good to Approach"
      0.5 3.0/5 "Satisfactory"
      Response is really good with bankbazaar. Also their website is very much easy to handle. A small suggestion for bankbazaar is when they suggest the bank for the loan process, it would be more comfortable if they provide the concerned bank contact number as well. I had received very good response from bankbazaar when I approached them for the loan process.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 24, 2017
    • Axis Bank Car Loan
      "Delayed Service with High interest rate"
      0.5 1.0/5 "Really Bad"
      Axis bank delayed in providing car loan services. Actually I applied for the loan on 5th May but they responded me on 12th May which is after 7 days. Also the rate of interest is very high with Axis bank hence I tried with other bank and got the loan as well. I got it from Saraswat bank this time.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 24, 2017
    • Bank Bazaar Customer Support
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      There are no flaws with Bankbazaar services. They are good enough in providing financial services. I had received continuous followup calls and notifications from bankbazaar. They promptly forwarded my car loan application to the bank in order to proceed for it further. Allmost all their services were good.
      Was this review helpful? 0
      , madurai
      Reviewed on Jun 24, 2017
    • Axis Bank Car Loan
      "Smooth process"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan earlier from Axis Bank and the process was excellent. It was a very convenient process and timely as well. The charges and interest rate was high, but it is okay when compared to the rates at the market at that moment. Overall good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 24, 2017
    • HDFC Bank Car Loan
      "Good Response"
      0.5 5.0/5 "Blown Away!"
      When I submitted my car loan application with HDFC bank, I never knew that they would not give car loan for T board vehicle, but once after submitted my application, they informed me that they could not process the application as it is for commercial purpose. Other than that, their services are good and they provided a good response for my loan application.
      Was this review helpful? 0
      , madurai
      Reviewed on Jun 24, 2017
    • Axis Bank Car Loan
      "Good Process"
      0.5 5.0/5 "Blown Away!"
      Axis bank is good when it comes to response. Recently I availed car loan from Axis bank, during the loan process the bank is really good in supporting and they had completed the process in a good way. The rate of interest is of 9.5% and I am very much happy to bank with AXIS.
      Was this review helpful? 0
      , bhopal
      Reviewed on Jun 24, 2017
    • Bank Bazaar Customer Support
      "Good Response"
      0.5 5.0/5 "Blown Away!"
      I had received a good response from bankbazaar when I applied for the car loan. When I submitted my loan application on bankbazaar website, they had contacted me properly and they assigned my application to the bank in order to proceed with it further.
      Was this review helpful? 0
      , bhopal
      Reviewed on Jun 24, 2017
    • Dena Bank Car Loan
      "Good Response"
      0.5 5.0/5 "Blown Away!"
      Actually I had taken a car loan from Axis bank hence I did not continue with Dena bank for my car loan process. But I had received proper response from Dena bank and they contacted me on my loan application. But since I had availed it from other source I dropped it.
      Was this review helpful? 0
      , bhopal
      Reviewed on Jun 24, 2017
    • HDFC Bank Car Loan
      "Better Service"
      0.5 2.0/5 "Expected more"
      Still, I am waiting for the response from HDFC bank for the car loan process. I had approached HDFC for the car loan through online source. I had not received any calls or information from the bank. Also I am out of station, it would be great if they respond properly.
      Was this review helpful? 0
      , varanasi
      Reviewed on Jun 24, 2017
    • Bank Bazaar Customer Support
      "Good Service"
      0.5 4.0/5 "Great!"
      Bankbazaar is very regular in providing information about the loan process. I had no challenges with bankbazaar at that point of time. The website is easy to access and it is very informative. It is easy to choose the bank for the loan service with the help of bankbazaar.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jun 24, 2017
    • Axis Bank Car Loan
      "Good Response"
      0.5 4.0/5 "Great!"
      Initially I applied for the car loan with Axis bank. Once I applied for the loan I had received good response from Axis bank. They provided the required information for the loan process. Due to some reason I had postponed my plan in taking the car loan for time being.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jun 24, 2017
    • Bank Bazaar Customer Support
      "Good Process"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar provided a good response when I approached them for the loan. The contacted me immediately and they provided the required information about the loan process. Then they forwarded my application to the bank in order to proceed further.
      Was this review helpful? 0
      , guwahati
      Reviewed on Jun 24, 2017
    • HDFC Bank Car Loan
      "Good Response"
      0.5 5.0/5 "Blown Away!"
      For car loan, I approached HDFC bank. And I had submitted the loan application too. But the bankers said as I had already availed two wheeler loan from the same bank they are not ready to provide the loan again. Though I had closed the two wheeler loan promptly, the bank did not process my application and I closed the car loan request. But I received proper response from HDFC.
      Was this review helpful? 0
      , guwahati
      Reviewed on Jun 24, 2017
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