Purchase your new car easily with low-interest car loans. Choose the right bank and EMI plan to suit your budget.
Bank Name
Car Price
Rate of Interest
Loan Tenure
Loan Amount
CIBIL Score
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HDFC Car Loan
₹10 Lakh
9.5%
60 Months
₹8 Lakh
750+
ICICI Car Loan
₹15 Lakh
9.25%
72 Months
₹12 Lakh
780+
Axis Car Loan
₹12 Lakh
9.75%
60 Months
₹10 Lakh
720+
🔥 Car Loan EMI Calculator
📊 Loan Summary
Monthly EMI: ₹0
Total Interest: ₹0
Total Payment: ₹0
📈 EMI Breakdown
Principal: ₹0
Interest: ₹0
What is a New Car Loan?
A car loan is a secured/unsecured loan for purchasing a new vehicle. Banks and NBFCs offer competitive interest rates and flexible tenure options to help you finance your dream car.
How Does a Car Loan Work?
You choose your car, apply for the loan, and once approved, the bank disburses the amount to the dealer. You repay the loan in EMIs over the selected tenure.
Loan Application & KYC Submission
Car Price & Loan Approval
Loan Disbursement to Dealer
Repayment in EMIs
Prepayment & Part-Payment Options
Completion of Loan
Features of Car Loan
Loan Amount: Up to 90% of car price
Interest Rate: 8%–12% per annum
Loan Tenure: 12–84 months
Repayment: EMIs including principal & interest
Prepayment: Allowed with minimal charges
Quick Disbursal: Funds are sent directly to car dealer
Required Documents
KYC (PAN, Aadhar)
Income Proof (Salary Slip/IT Return)
Bank Statements (Last 6 months)
Car Booking Invoice
Eligibility Criteria
Age 21–65 years
Minimum CIBIL Score: 700+
Stable income source
Employed/Self-employed
FAQs
1. What is a new car loan?
A loan to finance the purchase of a new vehicle with EMI repayment.
2. How do I repay?
Repay in monthly EMIs as per loan agreement.
3. What documents are required?
KYC, income proof, bank statements, car invoice.
4. How to apply?
Apply online or at bank branches; approval after verification.
5. Can I prepay my car loan?
Yes, most banks allow prepayment with nominal charges.
