Lowest EMI ride
New Car Loan
Drive a new or used car with bank-backed auto finance
Dealer and bank programmes for new cars, plus used-car finance with valuation support so you do not overpay on the asset.
Amount
Up to 90% of on-road
Rates from
8.70% p.a.
Tenure
12 – 84 months
Approval
Often at the showroom*
Why borrowers pick this product
- New and used car programmes
- Insurance and hypothecation guidance
- Pre-approved offers for salaried buyers
- Balance transfer on existing car loans
Indicative lender grid
Compare side by sideFigures are public-range illustrations for planning, not live bank APIs or guaranteed offers.
| Lender | Type | Rate | Amount | EMI / lakh | Processing | |
|---|---|---|---|---|---|---|
| State Bank of India | Nationalized Bank | 8% – 10.5% | ₹5 L – ₹40 Cr | ₹1,992 – ₹2,160 | Up to 0.35% + GST | Enquire |
| Punjab National Bank | Nationalized Bank | 8.2% – 12.4% | ₹5 L – ₹5 Cr | ₹2,005 – ₹2,230 | Up to 1% | Enquire |
| Canara Bank | Nationalized Bank | 8.15% – 11.9% | ₹5 L – ₹5 Cr | ₹2,001 – ₹2,200 | Up to 0.50% | Enquire |
| HDFC Bank | Private Bank | 8.35% – 14.5% | ₹50,000 – ₹10 Cr | ₹2,015 – ₹2,370 | Up to 1% or as advertised | Enquire |
| ICICI Bank | Private Bank | 8.4% – 15% | ₹50,000 – ₹5 Cr | ₹2,018 – ₹2,400 | Up to 2% | Enquire |
| Axis Bank | Private Bank | 8.5% – 16% | ₹50,000 – ₹5 Cr | ₹2,025 – ₹2,450 | Up to 1.5% | Enquire |
| Kotak Mahindra Bank | Private Bank | 8.7% – 16.5% | ₹1 L – ₹3 Cr | ₹2,040 – ₹2,480 | Up to 2% | Enquire |
| Tata Capital | NBFC | 10.99% – 24% | ₹75,000 – ₹75 L | ₹2,170 – ₹2,900 | Up to 3% | Enquire |
New cars
Manufacturer tie-ups plus bank rates — we show both so you can pick the cheaper EMI.
Used cars
Finance against a valuation report, typically for cars under 5–7 years old.
Refinance
Lower the rate on an existing hypothecated vehicle if your profile has improved.
Eligibility
- Age 21–65 years
- Valid driving licence preferred
- Income proof as per lender grid
- Stable residence and employment
Documents
- KYC and PAN
- Income proof and bank statement
- Quotation / proforma invoice
- Used car: RC, insurance, valuation
FAQs
Many new-car schemes cover a high percentage of on-road cost. Insurance and extended warranty may be bundled or paid separately.
