Find the best Car Loan for you

Car Loan – With interest rates as low as 7.00% p.a. and a repayment tenure of up to 8 years, you can find the most suitable car loan for your needs at Loan Cart. You can take the loan for 90% to 100% of the on-road price of the car.

Car Loan Interest Rates

Updated on 02 Aug 2022

Interest Rate (Monthly reducing balance) 7.00% onwards
Processing Fees Depends on the bank
Loan Tenure 1 year to 8 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Eligibility Criteria and Documents Required

The car loan eligibility criteria can be different for different banks. The common criteria are as follows:
  • Age of the individual must be between 18 years and 75 years
  • Minimum net monthly income of Rs. 20,000
  • At least 1 year of employment with the current employer
  • Must be salaried or self-employed, working for a government establishment or a private company