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
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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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    Eligibility Criteria
    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
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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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    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
    What you'll love
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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
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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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    Fees & Charges
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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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    Secured Car Loan is Rated as "Great!" by 27499 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
      "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? 0
      , 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? 0
      , agra
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Good Service"
      0.5 4.0/5 "Great!"
      Whatever information I had received from bankbazaar in regards to the loan application, it was really sufficient. Bankbazaar responded well and provided good service. I approached them through their website. It was very easy to handle.
      Was this review helpful? 0
      , bokaro
      Reviewed on Jun 22, 2017
    • HDFC Bank Car Loan
      "Good Response"
      0.5 4.0/5 "Great!"
      I applied for the car loan with HDFC bank but then I did not avail the loan because I already have a car but this time I was planning to get a new car so I applied for the loan but had marriage function at home, hence I could not continue the plan and I postponed it. I received good response from HDFC bank.
      Was this review helpful? 0
      , bokaro
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I had received immediate response from bankbazaar. I hap applied for the loan on bankbazaar website. At that time I found some difficulties but then the responses are good from them. The website has details about the bank along with the interest rate and other charges.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Good Response"
      0.5 4.0/5 "Great!"
      On my car loan application, I got proper service from bankbazaar 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
      , gurgaon
      Reviewed on Jun 22, 2017
    • HDFC Bank Car Loan
      "High Interest Rate"
      0.5 3.0/5 "Satisfactory"
      Actually I was looking for used car hence I applied for the car loan with HDFC bank. But the bank is offered high interest rate when compared with other banks so I just cancelled my car loan application and I did not avail the loan from them. Response part was good, I received proper call from the bank.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The services offered by Bankbazaar has been good and it is a simple registration process for me to do when I applied for a car loan. The website is good and very much easy to navigate through. The information on it is very useful for any customer applying for a loan and this is not the first time with bank bazaar, I am with them for many years.
      Was this review helpful? 0
      , surat
      Reviewed on Jun 22, 2017
    • Dena Bank Car Loan
      "DISSATISFIED"
      0.5 2.0/5 "Expected more"
      It was not a good experience with Dena bank for the car loan. I received a call initially and they were supposed to follow up with me. After which I got no calls from them and I was unable to continue with them. I do not wish to recommend this bank for the lack of response, even the customer service executives too were rude.
      Was this review helpful? 0
      , surat
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Helpful Service"
      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
      , bangalore
      Reviewed on Jun 22, 2017
    • Dena Bank Car Loan
      "No Response"
      0.5 5.0/5 "Blown Away!"
      I had applied for the car loan with Dena bank. I had chosen this bank with the help of online source. But I had taken the personal loan from them not the car loan. Because I did not receive any calls from Dena bank for the car loan for which I had applied.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Professional services"
      0.5 5.0/5 "Blown Away!"
      The services rendered by Bankbazaar has been excellent. It is a nice experience and the team is very professional in communicating the details. The website is also perfect and user friendly. The details are clear and the process is smooth to register and compare.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am quite happy to use Bank Bazaar service, Their executive are very responsive they helped on loan process. The website is pretty easy and quite informative to check the eligibility and offers based on customer profile. Overall Iam fine with Bank Bazaar service.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 22, 2017
    • Dena Bank Car Loan
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      Dena Bank has been good in the process for the car loan. The customer services and response has been good and I got the disbursement on time. The interest rate was around 11.15% and there was a minimal fee of Rs.500. The after loan services are smooth.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar has been doing a good job. The experience is good and overall no issues faced. The customer support is very responsive and they were on time all through my process. The follow up calls are also good because I was on track and I had got the basic details about the application.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2017
    • Capital First Car Loan
      "Average"
      0.5 4.0/5 "Great!"
      It was an average experience with Capital first for the car loan. They need to be more specific in what documents they need. I was not informed initially about the cheque and later I had to arrange for the same which delayed the process of disbursement.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2017
    • HDFC Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had received good response from HDFC bank towards my car loan application. I had been contacted by the bank for the loan and they provided the required information for the same. Rate of interest they have offered is 9% the loan amount I had opted for 3.50 lakhs and they have not charges any processing fee nor any charges.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Bank Bazaar is truly the best, they were giving immediate response and there was a proper coordination between the customer and Bank. I appreciate their way of approach. I am really satisfied with Bank Bazaar service. The web page is easy to check the bank quotations without any inconvenience.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 22, 2017
    • Axis Bank Car Loan
      "DISSATISFIED"
      0.5 1.0/5 "Really Bad"
      Axis bank charges very high interest rate in concern to the car loan product, that was the reason , I haven't got the loan with Axis. In the other hand they gave good response and better follow up on my car loan application. But for sure will not recommend this loan to others.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Good Service"
      0.5 4.0/5 "Great!"
      I choose bankbazaar to get the assistance for the car loan which I am going to take. When I submitted my loan application on bankbazaar website, I had received good response from them. I got calls and messages from their team. Also they assigned my application to the bank without any delays. Their website is pretty much easy to handle.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 22, 2017
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