Car Loan
Drive Home Your Dream Car
Get behind the wheel with ease. Compare auto loan offers with interest rates starting at 8.65% p.a., offering up to 100% on-road funding and tenures stretching up to 7 years.
- Rates from 8.65% p.a.
- Up to 100% Funding
- Tenure up to 7 Years
- Used & New Cars
Check Eligibility Instantly
Find the lowest EMI for your new car.
Car Loan Interest Rates
Compare the latest interest rates, processing fees, and LTV caps from top automotive financiers in India.
| Bank / NBFC | Interest Rate (p.a.) | Processing Fee | Max Funding |
|---|---|---|---|
| State Bank of India (SBI) | 8.65% - 9.75% | Nil to ₹1,500 + GST | Up to 90% of On-Road Price |
| Bank of Baroda (BoB) | 8.70% - 12.45% | ₹1,500 to ₹2,000 + GST | Up to 90% of On-Road Price |
| HDFC Bank | 8.75% - 10.00% | 0.50% to 1% of loan amount | Up to 100% of On-Road Price |
| ICICI Bank | 8.75% - 10.50% | Up to ₹5,000 + GST | Up to 100% of On-Road Price |
| Axis Bank | 8.85% - 13.15% | ₹3,500 to ₹7,000 + GST | Up to 100% of On-Road Price |
Eligibility and Documents
Understand the baseline income requirements and paperwork needed to secure your auto loan quickly.
Eligibility Criteria
- Age: Minimum 21 years; Maximum 65 years at maturity.
- Income: Minimum ₹3,00,000 p.a. net income.
- Employment: Salaried (min. 1 year continuous) or Self-Employed (min. 2 years business vintage).
- CIBIL Score: 720 and above preferred for lowest interest brackets.
Documents Required
- Identity Proof: PAN Card, Aadhaar Card, Passport, or Voter ID.
- Address Proof: Utility bill, Rental agreement, or Passport.
- Income Proof: Last 3 months' salary slips, 6 months' bank statements, and ITR/Form 16.
- Vehicle Details: Proforma invoice from the authorized car dealership.
Frequently Asked Questions
While there is no single fixed cutoff, a credit score of 720 to 750 or above is generally considered favorable by most banks and financial institutions. A higher score increases your chances of approval and helps you secure lower interest rates and higher loan amounts.
Yes, it is possible to secure a personal loan with a lower credit score (under 650), but you may face higher interest rates, a smaller loan amount, or shorter repayment tenures. Additionally, applying with a co-signer who has strong credit or offering collateral (where applicable) can improve your chances.
The general documents required include: 1) Proof of Identity (PAN Card, Aadhaar Card, Passport, etc.), 2) Proof of Address (Passport, Utility Bills, Aadhaar Card), 3) Income Proof (Salary slips for the last 3 months, Form 16, or ITR for self-employed), and 4) Bank statements for the last 3 to 6 months.
Thanks to digital integrations, basic approval (pre-approval) on aggregator platforms like ours can happen in a few minutes. Final verification and disbursement by the lender typically takes between 24 to 48 working hours, depending on physical verification or documentation completion.