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 31 Hyderabad Car Loan
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    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.40% - 10.35% Fixed
    Up to ₹4,720 One time fee
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon Voucher 100% PAPERLESS APPROVAL
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    13.1% - 15% Floating
    999 + applicable tax
    20K - 10L
    1-5 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon Voucher 100% PAPERLESS APPROVAL
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    8.60% - 11.50% Fixed
    Up to ₹5,500
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
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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 100% financing on car value
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    12% - 15.5% Fixed
    Up to ₹5,310 One time fee
    75K Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon Voucher 100% PAPERLESS APPROVAL
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    8.75% - 8.80% Fixed
    3,500 One time fee
    1L Min
    1-5 Years Tenure
    Response Time : Within 30 minutes
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    12% - 14% Fixed
    2,500 One time fee
    1L Min
    1-3 Years Tenure
    Response Time : Within 30 minutes
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    16% Floating
    1% One time fee
    50K - 15L
    1-4 Years
    Response Time : Within 30 minutes
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    12% - 13% Fixed
    1% One time fee
    50K - 10L
    1-4 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon Voucher
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    Eligibility Criteria
    8.75% - 13% Fixed
    Up to ₹ 5,000 One time fee
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon Voucher
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    Perks
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    9.15% Floating
    575 One time fee
    1L - 2Crs
    1-7 Years
    Response Time : Within 30 minutes
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    11.50% Floating
    575 One time fee
    1L Min
    1-3 Years
    Response Time : Within 30 minutes
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  • Hyderabad Car Loan is Rated as "Excellent!" by 3102 Users

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    Hyderabad Car Loan

    Hyderabad is the capital of Andhra Pradesh in Southern India.A city rich with history and tradition, Hyderabad now competes with Bangalore, Chennai for the crown of India's IT capital.

    About Car Finance: Personal Car Finance is a complete subsector of personal finance, with numerous different products available. These include a straightforward car loan, hire purchase, personal contract hire (car leasing) and Personal Contract Purchase. Therefore car finance includes but is not limited to vehicle leasing. These different types of car finance are possible because of the high residual value of cars and the second hand car market, which enables other forms of financing beyond pure unsecured loans.


    You’re probably eligible for an Hyderabad Car Loan if you are

    01
    02
    03
    04
    Hyderabad Car Loan Minimum Age

    At least 21 years old

    Hyderabad Car Loan Maximum Age

    Less than 67 years old

    Hyderabad Car Loan Eligible Employment Type

    Salaried / Self – Employed
    with regular income

    Hyderabad Car Loan Minimum Income

    Earn more than the minimum
    income required


    Your Hyderabad Car Loan amount eligibility is based on these factors

    01
    02
    03
    Hyderabad Car Loan Minimum Salary

    Minimum income required Rs.2,40,000 per annum

    Hyderabad Car Loan Maximum Loan to Value

    Loan capped @
    85% Ex-Showroom price

    Hyderabad Car Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Hyderabad Car Loan amount by these steps

    01
    02
    Hyderabad Car Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    Hyderabad Car Loan Maximum Tenure

    Choose longer tenure loan up to 5 years


    Documentation needed to apply for an Hyderabad Car Loan

    • 1. Photo ID and age proof
    • 2. Signed application form with photograph
    • 3. Residence proof
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:

      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    Hyderabad Car Loan Interest RatesUpdated on 19 Jul 2018

    Hyderabad Car Loan Details
    Interest Rate (Monthly reducing balance) 10.5% - 12.75%
    Processing Fees Rs. 500 to Rs, 5,000
    Loan Tenure 1 year to 5 years
    Pre-closure Charges 2% to 4% on outstanding loan amount
    Guarantor Requirement No guarantor required

    Car loans in Hyderabad

    Owning a car is generally seen as a luxury, but in today’s day and age it is more of an investment. When a customer makes an investment on a four wheeler he needs to consider certain aspects attached to it. How much return does he get in the long run? Is the investment on a car financially viable to him? To evaluate these aspects, a prospective car buyer needs to first understand how and what type of financing he would be availing for his new car. Getting customized car packages from car dealers can always entice a buyer but he needs to weigh the pros and cons attached. Car dealers tend to charge higher interest rates and also have numerous hidden charges in their packages which will only stretch a customer’s wallet. A safer option for a customer would be to avail a comprehensive car loan package from a bank and avoid all additional expenses. Car loans in Hyderabad can be easily availed by customers as there are numerous banks offering attractive auto financing deals with a variety of benefits.

    Top banks providing car loans in Hyderabad

    Here are the top ten banks providing car loans in Hyderabad listed in the ascending order of interest rates charged.

    State Bank of Hyderabad car loan - State Bank of Hyderabad offers car loan deals with the lowest interest rates of 10.30% per annum in Hyderabad.

    State Bank of India car loan - State Bank of India offers car loans with individual rates for men (10.40% per annum) and for women (10.40% per annum).

    Bank of Baroda car loan - Bank of Baroda also provides car loans in Hyderabad at a competitive interest rate of 10.50% per annum. Bank of Baroda car loans include the unique feature of installation of CNG-LPG gas kits in four wheelers.

    Punjab National Bank car loan - Car finance is available in Hyderabad from Punjab National Bank, with the bank charging two types of interest rates - a fixed rate of 10.65% per annum and a floating interest rate of 10.50% per annum.

    Bank of India car loan - Star Vehicle loan scheme from Bank of India is a comprehensive car loan deal with an interest rate of 10.65% per annum.

    Andhra Bank car loan - Andhra Bank has exciting car loan schemes for Hyderabad customers with interest rates ranging from 10.75% per annum to 11.00% per annum.

    Axis Bank car loan - Axis Bank auto loans are unique and tailor made for Hyderabad customers with an interest rate of 11.50% per annum.

    ICICI Bank car loan - ICICI bank car loans in Hyderabad can be availed with interest rates ranging between 10.75% per annum to 15.00% per annum, depending on the type of vehicle and the loan tenure.

    Kotak Mahindra car loan - Kotak Mahindra Bank provides car loans with flexible repayment tenures and finances up to 90% of the ex-showroom price of the new car in Hyderabad. The interest rates for Kotak Mahindra car loans vary from 11.50% per annum to 13.50% per annum.

    HDFC Bank car loan - HDFC Bank offers car loans in Hyderabad with the lowest down payments and interest rates ranging between 11.50% per annum to 13.75 % per annum.

    Age criteria for availing a car loan in Hyderabad

    Salaried professionals should be 25 years and above while applying for a car loan with any bank in Hyderabad. The maximum age should not be more than 58 years for an individual at the time of maturity of the car loan.

    Any self-employed professional, proprietor, partner or a director from any firm or public and private limited company should be between 28 to 65 years while applying for car loans in Hyderabad. At the time of maturity of the car loan, the applicants should not be aged above 65 years.

    Income criteria for car loans in Hyderabad

    Applicants with regular salaries should have a gross annual income of at least Rs 4 lakhs to be eligible to apply for a car loan in Hyderabad. Individuals should have been in continuous employment for at least two years and should be employed with their current employer for at least one year.

    Businessmen are required to show a gross annual income of Rs 2.5 lakhs with business stability of more than three years to qualify for a car loan in Hyderabad. Partnership firms and private / public limited companies should also show profits of Rs 2.5 lakhs after taxation to get an approval for a car loan. Firms and companies are also required to be in business for at least a period of three years.

    Documents required for a car loan in Hyderabad

    Applicants have to submit the below mentioned documents specific to each category while applying for a car loan in Hyderabad.

    As Identity proofs, copies of these documents can be submitted for a car loan approval - Valid Passport of the applicant, PAN Card, voter’s ID card and valid driving license.

    As address proofs, copies of any of the following documents can be provided to the bank - Ration card, driving license, voter’s ID card, valid passport of the applicant, telephone bills, electricity bills, life insurance policies and PAN card.

    Proof of Income

    Salaried individuals need to furnish their latest salary slips, income tax returns and form 16 for the last two years as income proofs for car loan applications.

    Self-employed professionals have to submit income tax returns for the last two years along with financial statements. Partnership firms and corporate companies need to submit their income tax returns for the last two years, balance sheets, profit and loss account statements and audited reports also for the last two years.

    In addition to the above documents, applicants should also provide their bank account statements for the last six months and signature proofs as requested by the bank for car loan applications in Hyderabad.

    Hyderabad Car Loan FAQs

    Here are some frequently asked questions about Hyderabad car loans:

    1. How to apply for a car loan?

    Potential borrowers/applicants can visit the bank website, a reliable third-party website, or the nearest bank branch to apply for a car loan. Download the car loan application form from the bank website. Submit the duly-filled and signed application form along with the necessary document proofs to the bank. The bank will verify the details furnished by you, process the loan application, and approve or reject it depending on whether you meet the eligibility criteria.

    1. What are the documents required for a car loan?
    • Applicants are required to submit the following documents as identity, age, income, and address proofs to the lender at the time of applying for a car loan:
    • Identity proof - PAN card, Aadhaar card, Passport, Driving License, and Voter ID.
    • Age proof - Birth certificate and 10th/12th school certificate.
    • Income proof - Last 3-6 months’ salary slips in the case of a salaried person and profit and loss statement in the case of a self-employed person. Last 3 months’ bank statements and Form 16.
    • Address proof - Ration card and utility bills like telephone or electricity bills.
    1. How to locate a bank branch?

    Most banks have a ‘Branch Locator’ tool on their websites. All you have to do is enter your city and state into the tool and click on the ‘Search’ button. You will get a list of the nearest bank branches in your locality with contact details such as address and phone numbers.

    1. How to avoid car loan rejection?

    Before applying for a car loan, check your car loan eligibility to avoid loan rejection. Multiple car loan rejections can have a negative effect on your credit score which in turn, can affect your future loan prospects. Ensure you have a good credit score and meet the minimum monthly/annual income requirements set by the lender in order to be eligible for a car loan.

    1. How to reduce the cost of your car loan?

    The monthly and overall cost of your car loan can be determined using a car loan EMI calculator. Making a high down payment on a car of your choice can reduce the principal amount of your car loan. Thus, reduce the overall cost of your car loan. A suitable loan tenure can help you save on car loan interest. Opt for a short loan tenure so that you can repay your car loan quickly and save up on the overall interest payments.

    1. How to save on car loan interest?
    • Make a higher down payment on the car of your choice so that you can reduce the overall cost of your car loan.
    • Convert car loans obtained before April 2016 to MCLR rates so that you can benefit from a change (reduction) in interest rates during the loan tenure.
    • Opt for prepayment or foreclosure in order to get rid of your car loan faster. However, before making a prepayment or pre-closing your car loan take into account the various charges levied by the lender as penalty for pre-closing a loan. Ensure the charges don’t reduce your car loan interest savings.
    • Make an extra EMI payment if you have sufficient funds or increase the percentage of your EMI if you have obtained a hike in your yearly income. An additional car loan EMI payment or increase the percentage of EMI can help increase your car loan interest savings.
    1. What is the difference between a fixed interest rate and floating interest rate?

    A fixed interest rate remains the same throughout the loan tenure whereas a floating interest rate changes during the loan tenure. Depending on the interest rate, the loan EMI changes as well. Loans obtained after April 2016 go by MCLR rate as per the rules of the central bank. MCLR is the marginal cost of funds based lending rate which is a new benchmark lending rate introduced by the Reserve bank of India (RBI) in order to ensure fair interest rates to both the banks and the borrowers.

    1. Is a guarantor required for a car loan?

    Yes, some banks ask for a guarantor before disbursing a car loan. Your spouse or any individual with a good income can sign as a guarantor or a co-applicant of the car loan. Security is the hypothecation of the car to be purchased.

    1. How to ensure I don’t default on my car loan?

    When choosing a car loan, opt for an affordable loan amount that is within your repayment capacity. Maintain a low debt-to-income ratio wherein your loan EMI doesn’t exceed more than 50% of your income.

    1. What is a loan against car?

    Few banks offer loans against cars wherein the borrower can obtain a loan against an old car. The loan amount will depend on the value of the old car and the interest rate will depend on the loan tenure. A loan against car can be used to purchase a new car to replace the old one.

    Hyderabad Car Loan Reviews

    • HDFC Bank Car Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      Got my car loan from Hdfc bank , where the rate of interest is average based on market price . They did instant process for approval and documentation and sanction the loan based on on road price of the card. Where i use to pay monthly through ecs for 50 months . And there is no processing fees.Overall am satisfied with car from hdfc.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 17, 2018
    • IndusInd Bank Car Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I got car loan from Indusind bank , their rate of interest is nominal one based on the market price and am satisfied with it For documentation and approval their customer service took 10-15 days for whole thing. Making the payments through ecs and there is no charges for transaction. I have chosen tenure period of 30 months .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 17, 2018
    • ICICI Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It has been a moderate experience i had from them, and the process in getting this loan had been very simple and has been easy. The loan amount which they had provided had been satisfactory and the interest rate with them had been nominal. There has not been any hassles faced with the banking services of them.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Jul 13, 2018
    • SBI Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My car loan experience was good with SBI, the loan amount was for Rs 4 lakhs with nominal interest rate when compared to others. My loan was approved on ex-showroom price and the customer service was good. There are no foreclosure charges and there is no particular tenure period for this loan as the loan can be closed anytime.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 13, 2018
    • Axis Bank Car Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      My car loan was taken with AXIS Bank 11 years back. The loan amount was 54 lakhs and the interest rate was satisfactory and the tenure period was 84 months. I had a good experience here . The documentation was really easy and there was no delay in disbursing or sanction the loan. Their processing fee was also quite nominal so its recommendable.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 12, 2018
    • SBI Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      Got my car loan from Sbi bank , they did quick for documentation and approval . Rate of interest is nominal as that time it was OK when comparing to other banks .they gave tenure period of 5 years with processing fees of Rs 4000. I paid Emi through Ecs , and there customer service and response is Average.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 03, 2018
    • Axis Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The experience with them was not been that great since because the process in getting the loan has taken more time than usual. The interest rate with them has been high as well. The loan amount which they had provided had been good and the customer support also had been helpful at times and overall it had been a good experience.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 29, 2018
    • Cholamandalam Finance Car Loan
      "Good "
      0.5 5.0/5 "Blown Away!"
      I am having the four wheeler loan with the Cholamandalam finance. Customer service is good one and the response is very excellent one too. I got the loan amount from the Cholamandalam finance on immediate basis.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 23, 2018
    • HDFC Bank Car Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I am using the credit card since last 7 month. I have been applied with the bank and documents taken at my doorsteps. Limit is not satisfied. EMI conversion is easy. I am getting the offers not checked. I have contacted the customer service which is average.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 23, 2018
    • YES Bank Car Loan
      "Better"
      0.5 4.0/5 "Great!"
      I have taken the four wheeler loan with the Yes bank and the customer service is good, also the response is better one too. I am really happy with them. Rate of interest is around 9.15% for the car loan with the Yes bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 23, 2018
    • IndusInd Bank Car Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I have four wheeler loan with the Indusind bank and the interest rate is around 9%. The processing charges were not really good. The loan amount got disbursed within four days of time. Everything is good one with the Indusind bank and there are no issues on it.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 23, 2018
    • IndusInd Bank Car Loan
      "Easy to get loan from indusind"
      0.5 4.0/5 "Great!"
      I have bought a swift desire car by using the car loan from Indusind bank. They have offered me a car loan around 5 lakhs. For that they offered me interest of 8.5%. I used to make the EMI of 14000. Through Auto debit i used to make the payment. I have bought the loan for 2 years back. Overall, i'm satisfied with the car loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 22, 2018
    • Cholamandalam Finance Car Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It has been a very good experience with this loan and the whole process has been very much easy and simple. The loan amount which they had provided had been satisfactory and the interest rate has been normal. Even their customer support had been very much good as well.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 20, 2018
    • SBI Car Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have taken my car loan with the STATE BANK OF INDIA. I have been using since 2015 and it is very comfortable by using the loan. The rate of interest is 8.5% at the beginning and from January it is 9.5%. The loan amount is satisfied. I have got quickly the loan for my car.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • review Car Loan
      "Average service"
      0.5 5.0/5 "Blown Away!"
      The bajaj has approved my vehicle loan and i have got this loan around 12years ago. The customer support service and the response is good with the bajaj. The rate of interest and the charges were average when I was getting the vehicle loan from the bajaj .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • Axis Bank Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I took a car loan from the Axis bank. The loan was processed with in2 days. I applied for the loan at the car dealer. I pay an EMI of 12000 per month. There were processing charges . Overall it has been a quick loan experience with the Axis bank. Their interest rate was nominal when comparing to other banks.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 11, 2018
    • HDFC Bank Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have a credit from Hdfc Bank I am satisfied with the limit they have given me it is good, it is a lifetime free card, the benefits are also good on the card. I am very happy with the credit card and I never faced any issues with the services. I would recommend this card to others too.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 05, 2018
    • SBI Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a good experience in taking this loan, three months back i have closed this loan amount. The rate of interest of them has been good as well, and the process has went pretty good. Even the loan amount which they had provided has been satisfactory as well.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 04, 2018
    • SBI Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Got the car loan from the STATE BANK OF INDIA around a year. The customer support service and the response is good from the STATE BANK OF INDIA . The required loan amount has been given and I am satisfied with it. The rate of interest and the charges are average here and I am satisfied with it as well.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 01, 2018
    • Bank Bazaar Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken my credit card via BANK BAZAAR. The customer service and responses was really good. The web portal's accuracy and speed is good so I would like to recommend to others. The web portal's accuracy an speed is good.My experience was really good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 29, 2018
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