Car Loans in India

Are you interested in buying a small car or a big car or a car for luxury purposes? There are numerous companies in India offering car loans at a low interest rate. If you have problem in paying the whole amount of car in one go then you can get your car financed. That means paying the whole amount in monthly or yearly installments with a certain interest rate.There are various nationalized banks as well as finance companies offering car loans. Some of the Top Finance Companies providing Car Loans are: HDFC Bank, State Bank Of India, Punjab National Bank, ICICI Bank, Citibank etc.For availing a car loan you need to apply with proper documentation and down payment fees. These car-financing companies have branches throughout India. They offer variety of services like overdraft facility under which they give you an overdraft limit or cash upto 905 of the assessed value of your vehicle, interest payment is very flexible, payment mode is fully transparent, longer repayment period, some banks don't take processing fees even and you can easily calculate your installments through EMI Calculator.

To apply for a Car Loan you need to fulfill certain criteria to be eligible for availing car loan. These eligibility criteria are age group, employed with a government organization or public enterprise or self- employed and your annual income. If you are a customer of a certain bank then availing car loan from that bank will be easier. Apart from this you need to submit certain documents also like your bank statement, passport size photograph, latest salary slip, Income Tax Returns if you are self-employed individual or professional. The companies offer various Car Loans Schemes to suit your need and budget. HDFC Bank gives special discount to its prevailing customers. All of their process in undertaken within 48 hours, they give a facility of borrowing upto 90 % of the car's invoice value.

State Bank Of India provides with excellent and quick service. They have 6000 branches all over the country that deal in car loans. ICICI Bank charges interest rate only on the amount utilized. They don't have a fixed Equated Monthly Installments. You just need to pay 5 % of the amount you utilize each month.

All the procedure, documentation, repayment method etc varies from company to company.

ICICI Bank Car Loan

It is the biggest financier for car loans in India with a myriad of loan products and simple procedures. You can get up to 100% financial support on purchase of car and other vehicles with flexible terms for repayment.



A leading bank with an array of loan plans for buying cars and any other kind of personal automobile. Loan schemes have been designed to cater to the needs of all kinds of customers.


State Bank of India

You can get loans for the purchase of any vehicle of any make with either a fixed interest rate or a floating interest rate.