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 Secured Car Loan

    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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    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
    What you'll love
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    Fees & Charges
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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
    What you'll love
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    Perks
    Fees & Charges
    Good to Know
    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
    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
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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
    What you'll love
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    Fees & Charges
    Good to Know
    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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    Secured Car Loan is Rated as "Great!" by 28307 Users

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    Car Loan BYTES FROM OUR KITCHEN

    India has witnessed a steep rise in the demand for cars. Indians have displayed an avid interest in acquiring more high-end cars, and this trend has continued unhindered by limits on financing since there are companies that are ready to finance up to 100% of the ‘on-road cost’ of the cars. Banks and other financial institutions offer car loans schemes that enable their customers to easily own a car but deciding on the right car finance/car loan option is very challenging.


    Car loans in India are of two types: secured and unsecured car loans. It is important that you choose the right car loan scheme that is beneficial for you and ideally comes with “no strings attached”. Some conditions and policies may lead you to pay more than you accounted for. Since the last global financial crisis, unsecured loans have become limited in India.

    Secured car loan as a form of financing is one in which the borrower has to place a collateral or security with the financial institution, while taking the car loan. Most car loans are secured either by the vehicle you intend to buy, or with a financial deposit of any form which would reduce the risk for the lender. Secured car loans offer better terms and lower interest rates compared to unsecured car loans. If you are using your car as the collateral, then you can avail an attractive rate of interest which ensures that your repayments will be affordable and won't weigh heavily on your finances. However, if you default on the loan, your lender can sell the car used as collateral, to pay off your loan and cover up the losses.

    The average repayment tenure for a secured loan is up to 7 years, and the monthly installment amount is smaller than that of an unsecured loan. This type of financing offers some advantages, one being that it comes with a lower interest rate and flexible income requirements. Since the loan is backed by an asset, income level is not a major constraint for application. Eligible individuals ideally have a stable income, or income from other sources such as investment, etc.

    Apply for Car Loan Online

    Secured car loan Interest Rate

    Secured car loans are available at a fixed interest rate. This benefits you since the repayment amount won't be affected by any fluctuations in interest in the future. However, fixed rate loans aren’t as flexible as variable rate loans and in order to make additional payments/ pre-payments, a penalty will be levied.

    Loan Terms Secured Loan

    A secured loan usually has a shorter term and thereby, the repayment amount will be higher so that it can be paid off in time. However, a secured loan ensures lower risk to the lender and hence, the interest rate applicable will be lower than that of an unsecured one.

    Features and Benefits
    • Fixed interest rate and installment throughout the duration of the loan.
    • Enjoy lower interest rate by using your car as collateral.
    • Loan term ranging from one to five years, or up to 7 years in some Banks.
    • Option to choose from weekly or monthly installments.
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  • Secured Car Loan Reviews

    • Bank Bazaar Customer Support
      "Very Good service"
      0.5 4.0/5 "Great!"
      I am aware of bank bazaar through web search. I am with bank bazaar for more than 5 years. I have got more than 2 products through bank bazaar. The bank bazaar helped me to choose a policy and not only the policy, it helps us to choose the best products in the market. The website of bank bazaar is easy to use and user friendly. I am satisfied using bank bazaar service.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 19, 2017
    • Dena Bank Car Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I didn't got the car loan with Dena bank, because they never gave any kind of response in concern to my car loan application. The bank branch is also located very long from my place, so that was the reason i haven't got the car loan with Dena bank. The customer service and the response need to be improved with Dena bank. The rate of interest is nominal with Dena bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 19, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Initially HDFC bank has promised me some thing around 8% of interest rate in concern to my car loan but they have disclosed my loan with 8.65% . They need to stick on their promises. The customer service and the response part was good with Hdfc bank. Within 3 days of time they have disbursed the loan. The rate of interest is low when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Initially HDFC bank has promised me some thing around 8% of interest rate in concern to my car loan but they have disclosed my loan with 8.65% . They need to stick on their promises. The customer service and the response part was good with Hdfc bank. Within 3 days of time they have disbursed the loan. The rate of interest is low when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The Service is really good with bank bazaar, because within a hour of time I got the call from bank bazaar executive . The place where we can know about all financial products in the market. I came to know about bank bazaar through promotional mails. I am with bank bazaar for more than 3 years. The website of bank bazaar need to specified by differentiating the products. The bank bazaar has offered me a satisfactory service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • Dena Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I didn't got the response from Dena bank when I was in need of car loan , so that was the reason I haven't got the loan with Dena bank. The customer service and the response was good with Dena bank. The rate of interest is low with Dena bank and there was zero processing fee offer with Dena bank car loan. The timelines needs to be specified with Dena bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • Bank Bazaar Customer Support
      "Good service"
      0.5 4.0/5 "Great!"
      I know about bank bazaar for past 1 year. The customer service and the response is really good with bank bazaar. The website with bank bazaar is easy to use and user friendly. I get to know about bank bazaar through google web search. I am very much happy with the service rendered by bankbazaar.com.
      Was this review helpful? 0
      , davanagere
      Reviewed on Jul 19, 2017
    • Bank Bazaar Customer Support
      "Very Good service"
      0.5 4.0/5 "Great!"
      The best part I like about bank bazaar is their response , because I got immediate response from bank bazaar in concern to my car loan application. The customer service and the response is really good with bank bazaar. The web site with bank bazaar is easy to use and user friendly. The mobile application of bank bazaar is really helpful and supportive.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 18, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 2.5/5 "Just OK"
      The HDFC bank executive told that they can do the commercial car loan vehicle only if I am having 5 cars in my name. So that was the reason I haven't got the loan with HDFC bank. The customer service and the response was average with HDFC bank. The rate of interest is nominal with HDFC bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 18, 2017
    • Bank Bazaar Customer Support
      "Good service"
      0.5 4.5/5 "Excellent!"
      For about one year I am a customer of bankbazaar.com. I got to know about bankbazaar through google web search. The customer service and the response provided by bank bazaar is really good. The web site of bank bazaar is easy to use and user friendly. I am happy with the level of service offered by bankbazaar.com.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 18, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I didn't get the car loan from HDFC bank, because my loan got sanctioned by AXIS bank so that was the reason I haven't proceed with HDFC bank car loan. The rate of interest provided by HDFC is nominal . The customer service and the response was also good with HDFC.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 18, 2017
    • Axis Bank Car Loan
      "Satisfactory service"
      0.5 4.0/5 "Great!"
      I got the quick car loan from axis bank , because they processed the loan within 2 days of time. The customer service and the response is really good with axis bank. The rate of interest is nominal with axis. I am completely happy with the service provided by AXIS also the response provided by them was really good.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 18, 2017
    • Bank Bazaar Customer Support
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Bank bazaar gives very good service to the customers by giving prompt followups to them. The web site of bank bazaar is easy to use and user friendly. The customer service and the response provided by bank bazaar is extremely good. I am completely satisified with the level of service rendered by bankbazaar.com.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 18, 2017
    • Axis Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The Axis bank car loan process just took 3 days of time. They have approved and disbursed my car loan within 4 days of time. The customer service and the response was very good with axis and the rate of interest is nominal with axis bank and it can be compared with other banks too.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 18, 2017
    • Kotak Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The service rendered by Kotak mahindra in concern to my car loan was very good. The customer service and the response with Kotak mahindra was really good . They took around 7 days to disburse my car loan . The required loan amount has been disbursed and I am completely satisfied with their service too.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 18, 2017
    • Bank Bazaar Customer Support
      "Good service"
      0.5 4.0/5 "Great!"
      Bank bazaar service is really good. The customer support reaches the customer on time and they gives the appropriate information to the customers. I am aware of bank bazaar through google web search. The customer service and the response with bank bazaar is supportive and helpful . The web site with bank bazaar is easy to use and customer friendly.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 18, 2017
    • Axis Bank Car Loan
      "Below average service "
      0.5 1.0/5 "Really Bad"
      Axis bank doesn't know how to treat the customer they gave a call and spoke to me as if they are doing a favour to me and without completing the call they dropped the call, which again gave me a bitter experience. The customer service and the response need to be improved with Axis bank. They were not ready to listen to the customer query and they were just explaining their terms and conditions on the call.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 18, 2017
    • Bank Bazaar Customer Support
      "Good service"
      0.5 4.0/5 "Great!"
      This is a good service provided by bankbazaar.com to get prior approval after that we planned to get the car . We can save our time and money with this type of online service. thank you bank bazar, I hope my loan request would be acknowledged within a short span of time . I am waitin for your call. ....cahalapathi
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 18, 2017
    • Bank Bazaar Customer Support
      "User Friendly"
      0.5 4.0/5 "Great!"
      I like Bank Bazaar online service is excellent, I normally fill the online application form to check the eligibility of financial products, their executive are very prompt and good in resolve the queries. I am very satisfied to use Bank Bazaar site.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 13, 2017
    • Capital First Car Loan
      "Good Response"
      0.5 4.0/5 "Great!"
      There is no issue with capital first, only issues with my end. They were asking some documents from me, I have all other documents except rental agreement. I don't carry that. Hence I am unable to process with them. Again I am planning to reopen it.
      Was this review helpful? 1
      , new delhi
      Reviewed on Jul 13, 2017
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