A car loan is the loan to buy a car that can get from Banks, funding for the purchase of all kinds of cars. The borrower would pay back the lender through equated monthly instalments or EMI(s). The main objective of the Banks and NBFCs is to provide car loans to the right applicants and help them purchase a car.
The interest rates are as low as 6.50% p.a. and the longest repayment tenure that can be of up to 8 years.
You can find the most suitable car loan for your needs at financeseva.
Couldn't able to afford new car? Lenders offer used car loans also at competitive interest rates. You can borrow up to 150% of the car's value.
New Car Loan Amount
· You can take a minimum loan amount for 80-90% of the on-road price of the car.
· The maximum loan amount for upto 100% of the on-road price of the car.
Bank Name Car Loan Interest Rates Processing Fee
Bank of Baroda Car Loan 7.00% p.a. onwards Rs.1,500
Canara Bank Car Loan 7.30% p.a. onwards 0.25% of the loan amount, subject to a minimum of Rs.1,000 and a maximum of Rs.5,000
Axis Bank Car Loan 7.45% p.a. onwards Minimum of Rs.3,500 and maximum of Rs.7,000
Federal Bank Car Loan 8.50% p.a. onwards Contact the bank
SBI (State Bank of India)
Car Loan 7.20% p.a. onwards Contact the bank