Car Loan at Lowest Interest Rates
Drive your dream car home with attractive car loan offers. Get up to 100% on-road financing with interest rates starting at just 8.45% p.a.
Why Choose InstaEMI?
Car Loan Interest Rates
Compare the latest car loan interest rates from top banks and NBFCs
| Bank / NBFC | Interest Rate (p.a.) | Processing Fee | Tenure | Max Amount | Action |
|---|---|---|---|---|---|
| SBI | 8.65% - 9.80% | Nil | Up to 7 years | ₹1 Cr | Apply |
| HDFC Bank | 8.75% - 14.50% | Up to 0.50% | Up to 7 years | ₹1 Cr | Apply |
| ICICI Bank | 8.75% - 12.50% | Up to 0.50% | Up to 7 years | ₹1 Cr | Apply |
| Axis Bank | 8.99% - 15.00% | 0.50% | Up to 7 years | ₹1 Cr | Apply |
| Bank of Baroda | 8.45% - 12.60% | Nil | Up to 7 years | ₹1 Cr | Apply |
| Kotak Mahindra | 8.75% - 14.00% | Up to 0.50% | Up to 7 years | ₹1 Cr | Apply |
| Mahindra Finance | 9.00% - 18.00% | Up to 2.50% | Up to 6 years | ₹50 Lakh | Apply |
| Sundaram Finance | 8.95% - 15.00% | 0.50% | Up to 7 years | ₹75 Lakh | Apply |
Car Loan Eligibility Criteria
Requirements for new and used car loans
Documents Required for Car Loan
Keep these documents ready for faster loan processing
Identity Proof
Aadhaar Card, PAN Card, Passport, Voter ID
Address Proof
Utility Bills, Rent Agreement, Aadhaar
Income Proof
3-6 months salary slips, Bank statement
Employment Proof
ID Card, Appointment Letter
Vehicle Docs
Proforma Invoice from dealer
How to Apply for Car Loan
Drive your dream car home in 4 simple steps
Choose Your Car
Select your dream car and get the proforma invoice from the dealer.
Compare Loan Offers
Compare interest rates and terms from 15+ banks and NBFCs.
Submit Documents
Upload income proof, identity documents, and vehicle invoice online.
Drive Away
Loan disbursed to dealer within 1-3 days. Get your car delivered!
Car Loan Offers From Top Banks
Compare and choose the best car loan offer for your dream ride
HDFC Car Loan
HDFC Bank
8.5% - 12.5%
Loan Amount
₹1 Lakh - ₹1.0 Cr
Tenure
12 - 84 mo
Processing Fee: 0.5% - 0.5%
ICICI Car Loan
ICICI Bank
8.75% - 13%
Loan Amount
₹1 Lakh - ₹1.0 Cr
Tenure
12 - 84 mo
Processing Fee: 0.5% - 1%
Bajaj Two Wheeler Loan
Bajaj Finserv
9% - 18%
Loan Amount
₹20K - ₹5 Lakh
Tenure
6 - 48 mo
Processing Fee: 1.5% - 3%
HDFC Used Car Loan
HDFC Bank
11% - 16%
Loan Amount
₹1 Lakh - ₹35 Lakh
Tenure
12 - 60 mo
Processing Fee: 1% - 1.5%
Frequently Asked Questions
Get answers to common questions about car loans
Most banks offer car loans up to 100% of the ex-showroom price for new cars. For the on-road price (including registration, insurance, accessories), you typically get 80-90% funding. Some banks offer 100% on-road financing for premium customers. Maximum loan amount is usually capped at ₹1 Crore.
Ready to Drive Your Dream Car?
Compare car loan offers from 15+ banks and get approval within 24-48 hours.