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Car Loan Interest Rates

  • Upto 100% finance on ex-showroom prices.
  • Loan tanure upto 7 years.
  • It is not secured against any asset like home or gold.
  • Pocket friendly EMIs
  • Best Offers starting from 9.25%*.
  • Paperless approvel from major banks.

Apply for Car Loan @ 8.75%*


Where You can use Car Loan

Get a New Car

Getting a dream car is no longer a dream now. Banks provide upto the 100% of the ex-showroom price for the selected new models. Apply online on our site and get hussle free Car Loan in just some few days directly into the seller's account.

Buy an Old Car

Sometimes getting an old car is more beneficial than buying a new one. Banks also provide Car Loans for the old second hand cars. The depreciation rate is lower on a old car than a new car, although the maintenance cost is high as compared to the new.

Compare Interest Rates

Bank Interest Rate EMI per Rs 1 lakh for 7 Years Action
Axis Bank 8.50% Rs. 1,584 - Rs. 1,725 Apply Now
Bank of Baroda 8.80% Rs. 1,599 - Rs. 1,689 Apply Now
Bank of Maharashtra 8.90% Rs. 1,604 Apply Now
Canara Bank 8.70% Rs. 1,594 - Rs. 1,627 Apply Now
Central Bank of India 8.85% Rs. 1,601 - Rs. 1,658 Apply Now
Corporation Bank 8.75% Rs. 1,596 - Rs. 1,634 Apply Now
HDFC Bank 8.50% Rs. 1,584 - Rs. 1,725 Apply Now
ICICI Bank 8.82% Rs. 1,600 - Rs. 1,806 Apply Now
IDBI Bank 9.00% Rs. 1,609 - Rs. 1,614 Apply Now
Indian Bank 9.00% Rs. 1,609 Apply Now
Union Bank of India 8.85% Rs. 1,601 - Rs. 1,757 Apply Now
oriental Bank of Comerce 8.50% Rs. 1,584 - Rs. 1,609 Apply Now
Punjab National Bank 8.90% Rs. 1,604 - Rs. 1,614 Apply Now
State Bank of India 9.00% Rs. 1,609 - Rs. 1,645 Apply Now
Uco Bank 8.85% Rs. 1,601 Apply Now
Bank of India 8.90% Rs. 1,604 Apply Now
United Bank of India 8.85% Rs. 1,601 - Rs. 1,604 Apply Now
Syndicate Bank 8.95% Rs. 1,606 Apply Now
Dena Bank 9.10% Rs.1,614 Apply Now


  • A completely filled online Application
  • Identity Proof
  • Address Proof
  • PAN Card
  • Income Proof

Car Loan Eligibility Criteria

Almost anybody who suits the simple auto loan eligibility criteria can apply for a Car Loan in India. The basic requirements to take any loan are driven by the age, employment status, and other demographical variables of the Car Loan subscriber along with, of course, their repayment capacity. The usual requirements, irrespective of the financial institution or loan amount, for an individual to be eligible for a Car Loan approval include:

  • The debtor should be the midsize, self, business owner, or a specialist.
  • They ought to be of Indian nationality living in or outside India.
  • They ought to be at least 21 years old, and not more than 65 years old.
  • They should meet the minimum repayment capacity or minimum salary requirements.
  • They need to be in the current job for one year (salaried) or two decades at the same business (self-employed or professional).

About Car Loan & Features

  • Overview
  • Car Loan Tips
  • Car Loan Faqs

The debt from the bank to avail a new or an old vehicle is known as a Car Loan. Buying a car is a dream for many as it is a most convenient way for a transportation and also a symbol of standard for many. But when comes to the price of the car, buying it is not a peice of cake. For this situation, the Car Loan from the bank is a nice idea. By a Car Loan, the sudden expense burden on your pocket is divided into the chunks in the form of EMIs and the burden is no longer a burden. Bank pays for your car and you pay the bank slowly month by month for a suitable tanure.

Car Loan may be of two types-Car Loan for a new car or Car Loan for an old car. Sometimes buying a second hand car is more preferable as compared to purchase a new one. Banks also provide the Car Loan for the old car at nearly the same interest rates. Although, The maintenance cost for the old car may be higher as compared to the new one but the depreciation rate will be lower for the old one.

Buy a New Car

Getting a fantasy car is no more a fantasy today. Banks offer up to the 100 percent of their ex-showroom cost for the chosen new versions. Apply online on the website and get hassle-free automobile loan in only some couple of days right into the seller's accounts.

Buy an Old Car

Occasionally getting an old automobile is significantly more valuable than purchasing a brand new one. Banks also supply auto loans to the aged, second-hand automobiles. The depreciation rate is reduced on an older car than a new car, even though the upkeep cost is high when compared with the original.

Some Things Which You Should Remember about auto loans

Every lender has different strategies together with their loan, and consequently, their Interest Rates vary considerably from one another as shown in the table below. The interest levels have a whole lot to go along with your credit history. In case you've got a higher credit rating, then you're more inclined to acquire a loan readily at a lower rate of interest. Thus, you must always cover your EMIs punctually to keep fantastic credit history.

Apply Online for Car Loan

Maximum APR (Annual Percentage Rate) 10.50% - 22%.
Fee applicable for BookMyMoney Rs 0.

*Terms and conditions apply. Credit at sole discretion of lender subject to rates, credit appraisal, charges, eligibility check and terms. Information shown is indicative and collected from public sources. This is a free service and no charges are payable by the borrower to BookMyMoney. The Company may receive remuneration from lenders for services provided to them. BookMyMoney is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not supposed to be an offer or solicitation or invitation to borrow or lend. The Company does not undertake any responsibility with respect to the correctness of the content, information and calculations. Information is subject to change without prior notice. By submitting your query or using any tools or calculators, you authorize BookMyMoney to share your information with lender(s), consent for such lender(s) to access your credit information report.