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    We found 31 Hyderabad Car Loan
    Bank Name
    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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    Eligibility Criteria
    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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    Eligibility Criteria
    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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    Eligibility Criteria
    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
    8.40% - 13.25% 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
    Fees & Charges
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    Eligibility Criteria
    9.15% Floating
    575 One time fee
    1L - 2Crs
    1-7 Years
    Response Time : Within 30 minutes
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    Eligibility Criteria
    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 3072 Users

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    Car Loan BYTES FROM OUR KITCHEN

    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 21 May 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

    • Volkswagen Finance Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have taken a car loan from Volks Wagen finance and my loan experience was not up to the mark. The loan amount was for Rs 5.6 lakhs with nominal interest rate when compared to all other sources. There are lot of charges on this loan and the tenure period for this loan is 5 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 20, 2018
    • HDFC Bank Car Loan
      "HDFC car loan"
      0.5 3.5/5 "Pretty good"
      I have taken a car loan from HDFC bank and the approved loan amount was 4.99 lakhs. The rate of interest was 8% flat. I have taken the tenure of 4 years.They have charges for paper work around 2500. And 19000 for GPS. They have forced me to take the GPS and a loan insurance of 3500.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 18, 2018
    • Bank Bazaar Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Previously i had an experience while i applied fro a credit card through bankbazaar and thus i came to know that they even provide loan facilities. Later i applied for card loan and the it got approved with the time limit. I am satisfied with bankbazaar service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 18, 2018
    • SBI Car Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      I have taken a car loan with SBI and my loan experience was good, the loan amount was more than 5 lakhs with nominal interest rate when compared to all other banks. My car loan was approved on the on-road price. They charge 3.9% of the principal amount for preclosure and the customer service was good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 14, 2018
    • Bank Bazaar Car Loan
      "Best deals For loan"
      0.5 5.0/5 "Blown Away!"
      I could able to find the best deal from bankbazaar and the customer service and response with them was good. I could get the loan approved with in no time. The response was really very quick and i can even consider bankbazaar in future for more products.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 13, 2018
    • HDFC Bank Car Loan
      "HDFC bank car loan"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan from HDFC bank and the approved loan amount was 3 lakhs. The rate of interest was 9.5%. The monthly emi is 6200 for tenure of 5 years.The processing fee was around 3000 and the approval was on time. Totally satisfied with HDFC.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 13, 2018
    • Bank Bazaar Car Loan
      "Good customer service"
      0.5 5.0/5 "Blown Away!"
      I have not faced any challenges through bankbazaar for my application . It was really a fast process. They had enough banks. We can check up on different bank for the offers. The customer executives response was really good. The overall experience was good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 12, 2018
    • HDFC Bank Car Loan
      "Car loan from HDFC"
      0.5 4.5/5 "Excellent!"
      I have taken a car loan from HDFC bank and the approved loan amount is 7.9 lakhs. The rate of interest for the approved loan amount was 9%. The monthly emi is 19935 for tenure of 5 years. Earlier the rate of interest was 8.85% but once the financial year got changed the rate of interest also got changed.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 12, 2018
    • HDFC Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have got the car loan from the HDFC bank around Five years and I have closed it. The required loan amount has been given and I am satisfied with it. The rate of interest and the charges were quite good from the HDFC bank and i am satisfied with it,
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 11, 2018
    • SBI Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My car loan experience was good with SBI, the process was quick and i received my loan amount on time. I have taken loan for Rs 16 lakhs with normal interest rate. My loan was approved based on the on-road price. The tenure period of this loan is 6 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 03, 2018
    • Axis Bank Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My car loan experience was good with AXIS bank, the loan amount was based on my requirements and the rate of interest was nominal when compared to other banks. They charge 2% of the principal amount for preclosure and the tenure period of this loan is 4 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 02, 2018
    • Union Bank of India Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      My car loan experience with Union bank of India was average, the loan amount was sufficient but the rate of interest was bit high when compared to other banks. The process took 2 months to complete. Customer service was not up to the mark, they charge 2% of the principal amount for preclosure and the tenure of this loan is 5 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 02, 2018
    • SBI Car Loan
      "Very good"
      0.5 3.5/5 "Pretty good"
      I have my car loan with SBI 2,5 years back. The loan amount was 5 lakhs and the interest rate was 8,75% which is average in the market .The tenure period a s5 years . The process was very good and the documentation was not lengthy . They have sanctioned the loan with the committed time with out any delay.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 28, 2018
    • ICICI Bank Car Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      ICICI bank has offered me a car loan around a year. The customer support service and the response is good with the ICICI bank . They have disbursed the loan amount within a hour time. The rate of interest and the charges are average with the car loan service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 27, 2018
    • Volkswagen Finance Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan with Volkswagen Finance and my loan experience was good. The loan amount was for Rs 9 lakhs with nominal interest rate when compared to all other sources. My loan amount was based on the on-road price. Customer service was good, they followed up on time and the tenure of this loan is 6 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 05, 2018
    • ICICI Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I had got the car loan from the ICICI bank around 8 years ago. The customer support service is good with the ICICI bank and I have closed this account long back . The required loan amount has been given and I am satisfied with it. The documentation process need to be customer oriented.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 31, 2018
    • SBI Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My car loan experience with SBI was good, the process was smooth and i received my loan amount within the given time. The loan amount was for Rs 5.05 lakhs with nominal interest rate. My loan amount was based on the on-road price. Customer service was fine and the tenure of this loan is 7 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 31, 2018
    • Bank of Baroda Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      Around 8 months ago, i have got the car loan from the BANK OF BARODA . The customer support service is good with the bank of baroda and they give good response to the customers. They had disbursed the car loan amount within a week time . The rate of interest and the charges are very low when compared with others.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 29, 2018
    • HDFC Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I got the car loan service from the HDFC bank and they have approved the loan even I dont have the savings account from them. They took around 2 top 3 days of time to approve and disburse the loan amount. The required loan amount has been given and I am satisfied with it.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 28, 2018
    • SBI Car Loan
      "Car loan emi late charges"
      0.5 1.0/5 "Really Bad"
      SBI is the worst bank i have ever seen.They can't even do one emi deduction properly. Eventhough i have amount in my non sbi account they won't deduct the amount on time later they will charge late payment fee. SBI is the worst bank with worst service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 26, 2018
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