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