Car Showrooms in India

Tata Altroz Car Loan EMI Calculator

Best Tata Altroz Car Loan EMI Calculator With Downpayment - Check out the Cheapest Tata Altroz Car Loan EMI Calculator With Downpayment from all banks with lower inerest rates, Loan for 5 Years, 7 Years and 8 Years plan with minimum eligibility and documentations with Private Banks and Govt Banks. Check out the Interest Rates of Tata Car Loan EMI of All Private and Government Banks HDFC Bank, ICICI Bank, Syndicate Bank, SBI Bank, Kotak Mahindra Bank, Canara Bank, IDBI First Bank, HSBC Bank, Punjab National Bank and many more.

Tata Altroz

The EMI for a Tata Altroz starts at ₹ 21,957 per month for a 60-month term at 9.8 percent for a loan amount of ₹ 9.64 Lakh*. The AutoSpyders EMI Calculator tool provides a full breakdown of the entire due amount and assists you in choosing the best vehicle loan for your Altroz.

Tata Altroz Down Payment and EMI

Tata Altroz VARIANTS
LOAN @ RATE%
DOWN PAYMENT
EMI AMOUNT (60 MONTHS)
EMI AMOUNT (84 MONTHS)
Tata Altroz XE Diesel
9.8%
₹ 86,000
₹ 16,409
₹ 12,800
Tata Altroz XE Plus Diesel
9.8%
₹ 86,000
₹ 16,416
₹ 12,806
Tata Altroz XM plus Diesel
9.8%
₹ 97,000
₹ 18,448
₹ 14,391
Tata Altroz XT Diesel
9.8%
₹ 1,03,000
₹ 19,617
₹ 15,303
Tata Altroz XZ Diesel
9.8%
₹ 1,09,000
₹ 20,787
₹ 16,216
Tata Altroz XZ Option Diesel
9.8%
₹ 1,11,000
₹ 21,028
₹ 16,404
Tata Altroz XZ Plus Diesel
9.8%
₹ 1,15,000
₹ 21,957
₹ 17,129
Tata Altroz XE
9.8%
₹ 70,000
₹ 13,415
₹ 10,465
Tata Altroz XE Plus
9.8%
₹ 71,000
₹ 13,605
₹ 10,613
Tata Altroz XM plus
9.8%
₹ 83,000
₹ 15,730
₹ 12,271
Tata Altroz XT
9.8%
₹ 89,000
₹ 16,880
₹ 13,168
Tata Altroz XZ
9.8%
₹ 95,000
₹ 18,029
₹ 14,064
Tata Altroz XZ Option
9.8%
₹ 96,000
₹ 18,286
₹ 14,265
Tata Altroz XT Turbo
9.8%
₹ 96,000
₹ 18,310
₹ 14,283
Tata Altroz XZ Plus
9.8%
₹ 1,01,000
₹ 19,179
₹ 14,961
Tata Altroz XZ Plus Dark Edition
9.8%
₹ 1,04,000
₹ 19,695
₹ 15,364
Tata Altroz XZ Opt Turbo
9.8%
₹ 1,04,000
₹ 19,695
₹ 15,364
Tata Altroz XZ Turbo
9.8%
₹ 1,04,000
₹ 19,695
₹ 15,364
Tata Altroz XZ Plus Turbo
9.8%
₹ 1,08,000
₹ 20,609
₹ 16,077
Tata Altroz XZ Plus Turbo Dark Edition
9.8%
₹ 1,11,000
₹ 21,126
₹ 16,480

Due to the many auto loan options given by various lenders, it is much easier to acquire your ideal car nowadays. Car loans are available with low interest rates and up to an 8-year payback period. A Car Loan EMI Calculator is available from a variety of banks and third-party websites, and it helps you to calculate the Equated Monthly Instalments (EMIs) that must be paid. AutoSpyder's Car Loan EMI Calculator is simple to use and completely free. To calculate the EMI, basic information such as the payback term, principle amount, and interest rate must be input.

Car Loan EMI Structure of Tata Altroz XE

Model Name

Tata Altroz XE

Price

₹ 5.89 Lakh* (Ex-Showroom)

Loan Amount

₹ 6,34,332

Downpayment

₹ 70,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,10,354
₹ 1,70,589
₹ 1,56,904
₹ 2,44,747
Total Amount Payable
₹ 7,44,686
₹ 8,04,921
₹ 7,91,236
₹ 8,79,079

Monthly EMI

₹ 12,411

₹ 13,415

₹ 9,419

₹ 10,465

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XE Plus

Model Name

Tata Altroz XE Plus

Price

₹ 6.34 Lakh* (Ex-Showroom)

Loan Amount

₹ 6,43,311

Downpayment

₹ 71,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,11,916
₹ 1,73,003
₹ 1,59,125
₹ 2,48,211
Total Amount Payable
₹ 7,55,227
₹ 8,16,314
₹ 8,02,436
₹ 8,91,522

Monthly EMI

₹ 12,587

₹ 13,605

₹ 9,553

₹ 10,613

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XM plus

Model Name

Tata Altroz XM plus

Price

₹ 6.84 Lakh* (Ex-Showroom)

Loan Amount

₹ 7,43,778

Downpayment

₹ 83,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,29,394
₹ 2,00,021
₹ 1,83,975
₹ 2,86,975
Total Amount Payable
₹ 8,73,172
₹ 9,43,799
₹ 9,27,753
₹ 10,30,753

Monthly EMI

₹ 14,553

₹ 15,730

₹ 11,045

₹ 12,271

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XE Diesel

Model Name

Tata Altroz XE Diesel

Price

₹ 7.04 Lakh* (Ex-Showroom)

Loan Amount

₹ 7,75,862

Downpayment

₹ 86,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,34,976
₹ 2,08,650
₹ 1,91,912
₹ 2,99,354
Total Amount Payable
₹ 9,10,838
₹ 9,84,512
₹ 9,67,774
₹ 10,75,216

Monthly EMI

₹ 15,181

₹ 16,409

₹ 11,521

₹ 12,800

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XT

Model Name

Tata Altroz XT

Price

₹ 7.39 Lakh* (Ex-Showroom)

Loan Amount

₹ 7,98,134

Downpayment

₹ 89,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,38,850
₹ 2,14,639
₹ 1,97,421
₹ 3,07,948
Total Amount Payable
₹ 9,36,984
₹ 10,12,773
₹ 9,95,555
₹ 11,06,082

Monthly EMI

₹ 15,616

₹ 16,880

₹ 11,852

₹ 13,168

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XE Plus Diesel

Model Name

Tata Altroz XE Plus Diesel

Price

₹ 7.54 Lakh* (Ex-Showroom)

Loan Amount

₹ 7,76,225

Downpayment

₹ 86,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,35,039
₹ 2,08,747
₹ 1,92,001
₹ 2,99,494
Total Amount Payable
₹ 9,11,264
₹ 9,84,972
₹ 9,68,226
₹ 10,75,719

Monthly EMI

₹ 15,188

₹ 16,416

₹ 11,527

₹ 12,806

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XZ

Model Name

Tata Altroz XZ

Price

₹ 7.94 Lakh* (Ex-Showroom)

Loan Amount

₹ 8,52,489

Downpayment

₹ 95,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,48,307
₹ 2,29,257
₹ 2,10,865
₹ 3,28,920
Total Amount Payable
₹ 10,00,796
₹ 10,81,746
₹ 10,63,354
₹ 11,81,409

Monthly EMI

₹ 16,680

₹ 18,029

₹ 12,659

₹ 14,064

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XM plus Diesel

Model Name

Tata Altroz XM plus Diesel

Price

₹ 7.99 Lakh* (Ex-Showroom)

Loan Amount

₹ 8,72,274

Downpayment

₹ 97,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,51,749
₹ 2,34,577
₹ 2,15,759
₹ 3,36,553
Total Amount Payable
₹ 10,24,023
₹ 11,06,851
₹ 10,88,033
₹ 12,08,827

Monthly EMI

₹ 17,067

₹ 18,448

₹ 12,953

₹ 14,391

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XZ Option

Model Name

Tata Altroz XZ Option

Price

₹ 8.06 Lakh* (Ex-Showroom)

Loan Amount

₹ 8,64,657

Downpayment

₹ 96,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,50,423
₹ 2,32,529
₹ 2,13,875
₹ 3,33,614
Total Amount Payable
₹ 10,15,080
₹ 10,97,186
₹ 10,78,532
₹ 11,98,271

Monthly EMI

₹ 16,918

₹ 18,286

₹ 12,840

₹ 14,265

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XT Turbo

Model Name

Tata Altroz XT Turbo

Price

₹ 8.07 Lakh* (Ex-Showroom)

Loan Amount

₹ 8,65,754

Downpayment

₹ 96,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,50,614
₹ 2,32,824
₹ 2,14,147
₹ 3,34,038
Total Amount Payable
₹ 10,16,368
₹ 10,98,578
₹ 10,79,901
₹ 11,99,792

Monthly EMI

₹ 16,939

₹ 18,310

₹ 12,856

₹ 14,283

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XZ Plus

Model Name

Tata Altroz XZ Plus

Price

₹ 8.49 Lakh* (Ex-Showroom)

Loan Amount

₹ 9,06,844

Downpayment

₹ 1,01,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,57,763
₹ 2,43,874
₹ 2,24,310
₹ 3,49,892
Total Amount Payable
₹ 10,64,607
₹ 11,50,718
₹ 11,31,154
₹ 12,56,736

Monthly EMI

₹ 17,743

₹ 19,179

₹ 13,466

₹ 14,961

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XT Diesel

Model Name

Tata Altroz XT Diesel

Price

₹ 8.54 Lakh* (Ex-Showroom)

Loan Amount

₹ 9,27,592

Downpayment

₹ 1,03,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,61,372
₹ 2,49,454
₹ 2,29,442
₹ 3,57,897
Total Amount Payable
₹ 10,88,964
₹ 11,77,046
₹ 11,57,034
₹ 12,85,489

Monthly EMI

₹ 18,149

₹ 19,617

₹ 13,774

₹ 15,303

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XZ Plus Dark Edition

Model Name

Tata Altroz XZ Plus Dark Edition

Price

₹ 8.74 Lakh* (Ex-Showroom)

Loan Amount

₹ 9,31,278

Downpayment

₹ 1,04,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,62,013
₹ 2,50,445
₹ 2,30,354
₹ 3,59,319
Total Amount Payable
₹ 10,93,291
₹ 11,81,723
₹ 11,61,632
₹ 12,90,597

Monthly EMI

₹ 18,222

₹ 19,695

₹ 13,829

₹ 15,364

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XZ Opt Turbo

Model Name

Tata Altroz XZ Opt Turbo

Price

₹ 8.74 Lakh* (Ex-Showroom)

Loan Amount

₹ 9,31,279

Downpayment

₹ 1,04,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,62,014
₹ 2,50,445
₹ 2,30,354
₹ 3,59,319
Total Amount Payable
₹ 10,93,293
₹ 11,81,724
₹ 11,61,633
₹ 12,90,598

Monthly EMI

₹ 18,222

₹ 19,695

₹ 13,829

₹ 15,364

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XZ Turbo

Model Name

Tata Altroz XZ Turbo

Price

₹ 8.74 Lakh* (Ex-Showroom)

Loan Amount

₹ 9,31,279

Downpayment

₹ 1,04,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,62,014
₹ 2,50,445
₹ 2,30,354
₹ 3,59,319
Total Amount Payable
₹ 10,93,293
₹ 11,81,724
₹ 11,61,633
₹ 12,90,598

Monthly EMI

₹ 18,222

₹ 19,695

₹ 13,829

₹ 15,364

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XZ Diesel

Model Name

Tata Altroz XZ Diesel

Price

₹ 9.09 Lakh* (Ex-Showroom)

Loan Amount

₹ 9,82,910

Downpayment

₹ 1,09,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,70,996
₹ 2,64,330
₹ 2,43,125
₹ 3,79,240
Total Amount Payable
₹ 11,53,906
₹ 12,47,240
₹ 12,26,035
₹ 13,62,150

Monthly EMI

₹ 19,232

₹ 20,787

₹ 14,596

₹ 16,216

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XZ Plus Turbo

Model Name

Tata Altroz XZ Plus Turbo

Price

₹ 9.17 Lakh* (Ex-Showroom)

Loan Amount

₹ 9,74,465

Downpayment

₹ 1,08,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,69,527
₹ 2,62,059
₹ 2,41,037
₹ 3,75,982
Total Amount Payable
₹ 11,43,992
₹ 12,36,524
₹ 12,15,502
₹ 13,50,447

Monthly EMI

₹ 19,067

₹ 20,609

₹ 14,470

₹ 16,077

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XZ Option Diesel

Model Name

Tata Altroz XZ Option Diesel

Price

₹ 9.21 Lakh* (Ex-Showroom)

Loan Amount

₹ 9,94,288

Downpayment

₹ 1,11,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,72,975
₹ 2,67,390
₹ 2,45,940
₹ 3,83,630
Total Amount Payable
₹ 11,67,263
₹ 12,61,678
₹ 12,40,228
₹ 13,77,918

Monthly EMI

₹ 19,454

₹ 21,028

₹ 14,765

₹ 16,404

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XZ Plus Turbo Dark Edition

Model Name

Tata Altroz XZ Plus Turbo Dark Edition

Price

₹ 9.42 Lakh* (Ex-Showroom)

Loan Amount

₹ 9,98,900

Downpayment

₹ 1,11,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,73,778
₹ 2,68,630
₹ 2,47,081
₹ 3,85,410
Total Amount Payable
₹ 11,72,678
₹ 12,67,530
₹ 12,45,981
₹ 13,84,310

Monthly EMI

₹ 19,545

₹ 21,126

₹ 14,833

₹ 16,480

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Tata Altroz XZ Plus Diesel

Model Name

Tata Altroz XZ Plus Diesel

Price

₹ 9.64 Lakh* (Ex-Showroom)

Loan Amount

₹ 10,38,228

Downpayment

₹ 1,15,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,80,619
₹ 2,79,207
₹ 2,56,808
₹ 4,00,584
Total Amount Payable
₹ 12,18,847
₹ 13,17,435
₹ 12,95,036
₹ 14,38,812

Monthly EMI

₹ 20,314

₹ 21,957

₹ 15,417

₹ 17,129

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

About Tata Altroz

The Tata Altroz is a high-end hatchback. It comes with three different powerplant options, all of which are combined with a single five-speed manual transmission. Harbour Blue, Avenue White, Midtown Grey, Downtown Red, and High-Street Gold are the five colours offered for the automobile. Global NCAP has given the Tata Altroz five stars.

The Tata Altroz is built on ALFA, a novel modular platform. It had a length of 3,990mm and a wheelbase of 2,501mm. It also boasts a 345-litre boot and a 165-mm ground clearance. Aside from that, the front has twin headlights with an integrated DRL and fog lighting unit underneath them. Depending on the model. Tata Altroz comes with 16-inch alloy wheels.

The Tata Altroz has a dual-theme colour scheme on the inside. The instrument cluster comprises a floating seven-inch touchscreen and another seven-inch screen with an analogue dial. Apple CarPlay, Android Auto, and the ConnectNext app suite are all supported by the infotainment system. There's also a 15-litre chilled glove box.

Many amenities are included in the Tata Altroz, including cruise control, ABS with EBD, corner stability control, reverse camera, auto headlights, rain-sensing wipers, and navigation in three words. The 1.2-litre three-cylinder petrol engine, 1.2-litre three-cylinder turbocharged petrol engine, and 1.5-litre in-line four-cylinder turbocharged diesel engine are the three engine options. A five-speed manual transmission is standard on all of them.

Car Loan EMI Table

Loan amount (Rs.)
Interest rate
EMI for 2 years (Rs.)
EMI for 3 years (Rs.)
EMI for 4 years (Rs.)
EMI for 5 years (Rs.)
EMI for 6 years (Rs.)
EMI for 7 years (Rs.)
1 lakh
9.75%
₹ 4,603
₹ 3,215
₹ 2,524
₹ 2,112
₹ 1,840
₹ 1,647
5 lakh
9.75%
₹ 23,015
₹ 16,075
₹ 12,621
₹ 10,562
₹ 9,200
₹ 8,236
10 lakh
9.75%
₹ 46,030
₹ 32,150
₹ 25,243
₹ 21,124
₹ 18,400
₹ 16,472
15 lakh
9.75%
₹ 69,044
₹ 48,225
₹ 37,864
₹ 31,686
₹ 27,600
₹ 24,708
20 lakh
9.75%
₹ 92,059
₹ 64,300
₹ 50,485
₹ 42,248
₹ 36,800
₹ 32,945
25 lakh
9.75%
₹ 1,15,074
₹ 80,375
₹ 63,107
₹ 52,811
₹ 46,000
₹ 41,181
30 lakh
9.75%
₹ 1,38,089
₹ 96,450
₹ 75,728
₹ 63,373
₹ 55,200
₹ 49,417
35 lakh
9.75%
₹ 1,61,104
₹ 1,12,525
₹ 88,349
₹ 73,935
₹ 64,400
₹ 57,653
Car Loan EMI Calculator

The Benefits of Using an EMI Calculator for a Car Loan

  • The Following is a breakdown of the due amount: The EMI calculator for a car loan allows you to determine the processing costs, interest paid, total amount due, and principle amount.
  • Your Budget Can Be Planned: Once you know how much EMI you'll have to pay, you can make a budget. If the loan amount is substantial, you may want to consider a longer repayment period. The vehicle loan EMI calculator can help you figure out these data.
  • Accuracy: The answers presented on the calculator are correct based on the information entered on the calculator. The results of manual computations may not be correct.
  • Saves Time: The main goal of the EMI calculator for a car loan is to save time. The results are presented relatively soon when the appropriate details are submitted.
  • No Limit: There is no limit to how many times you may use the calculator. As a result, you utilise the calculator to experiment with various options. This might assist you in determining the best lender and the required down payment.
  • Compare: You can compare the EMIs for different numbers because the calculator has no restriction on how many times it can be used.

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 ₹ 125 lakh 0.25% to 0.50% of the loan amount
IDBI Bank 7.35% onwards (floating) Up to ₹ 25 lakh -
Axis Bank 7.45% onwards ₹ 1 lakh onwards ₹ 3,500 to ₹ 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)

₹ 50 lakh 0.5% of loan amount Min: ₹ 1,500
Canara Bank Car Loan 7.30% onwards Up to 90% of the car's value 0.25% of loan amount Min: ₹ 1,000 Max: ₹ 5,000
Federal Bank Car Loan 8.50% onwards Up to 100% of the car's ex-showroom price ₹ 1,500 to ₹ 2,500
Bank of Baroda 7.00% onwards ₹ 1,500 (plus GST) 0.5% of loan amount Max: ₹ 10,000
Bank of India Car Loan 7.35% onwards ₹ 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 ₹ 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

How is EMI determined

The EMI for any type of loan is essentially calculated using a formula. The formula is as follows:

E = P x R x (1+R)^n / {(1+R)^n – 1}

where ‘E’ stands for the EMI you owe,

‘P’ stands for the principal amount,

‘R’ stands for the interest rate applicable to your car loan,

and ‘n’ stands for the tenure of the car loan (in months).

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.

Top 10
Car Brands in India

Latest Launches