Best Car Loan EMI Calculator
Comparison of Interest Rates for Our Finance Partners 2021
Instant EMI Calculator with attractive rates on vehicle loans is based on the information you submitted and is just for illustrative purposes. The figures in this computation are in Indian Rupees and have been rounded to the nearest whole number.
| Bank Name | Interest Rate (Per Annum) |
|---|---|
| State Bank of India | 7.20% onwards |
| ICICI Bank | 7.90% onwards |
| Indian Overseas Bank | 7.55% onwards |
| Jammu Kashmir Bank | RLLR + 0.75% onwards (floating) / RLLR + 1.50% onwards (fixed) |
| Canara Bank | 7.30% onwards |
| HDFC Bank | 7.95% onwards (Rack Interest) |
| Karur Vysya Bank | 7.80% onwards |
| South Indian Bank | Repo Rate + 5.05% |
| IDBI Bank | 7.35% onwards (floating) |
| Yes Bank | Contact the bank |
| Karnataka Bank | 8.05% onwards |
| Federal Bank of India | 8.50% onwards |
| Tamilnad Mercantile Bank | 8.25% onwards |
| Punjab National Bank | 6.90% onwards |
| Union Bank of India | 7.40% onwards |
New Car Loan Interest Rates Comparison Offered by Top Lenders
| Name of the Lender | Interest Rate (p.a.) | Loan Amount | Processing Fee |
|---|---|---|---|
| Union Bank of India | 7.40% onwards | Up to Rs.125 lakh | 0.25% to 0.50% of the loan amount |
| IDBI Bank | 7.35% onwards (floating) | Up to Rs.25 lakh | - |
| Axis Bank | 7.45% onwards | Rs.1 lakh onwards | Rs.3,500 to Rs.5,500 |
| State Bank of India | 7.20% onwards | Up to 48 times of monthly income | Nil (Until 31 January 2022) |
| Jammu And Kashmir Bank | RLLR + 0.75% onwards (floating) RLLR + 1.50% onwards (fixed) |
Rs.50 lakh | 0.5% of loan amount Min: Rs.1,500 |
| Canara Bank Car Loan | 7.30% onwards | Up to 90% of the car's value | 0.25% of loan amount Min: Rs.1,000 Max: Rs.5,000 |
| Federal Bank Car Loan | 8.50% onwards | Up to 100% of the car's ex-showroom price | Rs.1,500 to Rs.2,500 |
| Bank of Baroda | 7.00% onwards | Rs.1,500 (plus GST) | 0.5% of loan amount Max: Rs.10,000 |
| Bank of India Car Loan | 7.35% onwards | Rs.200 lakh | 0.25% of loan amount |
Car Loan Eligibility
Do you have questions regarding your auto loan eligibility and what you can do to improve your chances of being approved? BankBazaar provides you with all of the information you need about vehicle loan eligibility from the most reputable institutions. Get a trustworthy guide to selecting the best auto loan for you so you can make the best decision and apply for the best car loan right now. Your eligibility for a vehicle loan may differ depending on the lender, however many will look for the following criteria:
| Particulars | Details |
|---|---|
| Minimum Age of the Applicant | 18 years |
| Maximum Age of the Applicant | 60 years for salaried applicants and 65 years for self-employed applicants |
| Minimum Annual Income | Rs.3 lakh |
| Car Model | Any approved car model |
| Type of Employment | Salaried or self-employed |
| Country or Place of Residence | India (rural/semi-urban/urban areas) |
| Duration of Stay in Current Residence | A minimum of 1 year |
Car Loan EMI Calculator by Brand
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Disclaimer: The EMI Calculator's computation is based on the information you gave and is only intended to be used as a guide. The figures in this computation are in Indian Rupees and have been rounded to the nearest whole number. Monthly payments are estimated and do not include any processing or other fees that may apply depending on the financial institution / banks. All loan amounts are based on non-commercial use and are contingent on credit clearance from a third-party lender. Depending on the kind and use of the car, regional lender restrictions, and the quality of your credit, the actual down payment and resultant monthly payments may vary. For a precise monthly payment, check with your dealer.
Car Loan EMI Calculator
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