New Car Loan - Apply for Best Car Loan Online in India (2024)

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New Car Loan - Apply for Best Car Loan Online in India (1)

New Car Loan

Explore the most flexible, quick and cost-effective way to own your dream car

Looking to buy a new car? Axis Bank’s New Car Loan offers car loans from Rs. 1 Lakh upto 100% on-road funding along with a host of benefits that include attractive interest rates, comfortable tenure, Axis eDGE Reward points, etc Before applying for a car loan online, make sure to use the car loan calculator to find out your EMI. Apply for an Axis Bank New Car Loan and make your dream of owning a car come true.

  • Benefits for you
  • Check your eligibility
  • Documents required
  • Interest Rates
  • Got a query?
  • Features and Benefits

    Get high-value car loans

    Avail funding from Rs. 1,00,000 upto 100% on-road funding for Up to 7 years*.

    Attractive scheme for Electric vehicle funding

    50 bps lower rate of interest on car loan for ElectricVehicles

    Easily calculate Car Loan value

    Value calculated on ex-showroom / on-road price of the vehicle. Calculate your monthly outgoing with the car loan EMI calculator.

    Instant sanction

    Pre-qualified customers can avail Instant sanction for their Car Loan.

    Benefit from a high LTV ratio

    Avail upto 100% on-road price funding on select models.

    Special schemes and benefits

    • Banking surrogate scheme
    • Special benefits for Priority Banking, Wealth Banking and Privee Banking customers (To know more, contact your Relationship Manager)
    • Waiver of income documents and bank statements for Pre-approved and Axis Bank Salary A/c customers

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    Choose your tenure

    Up to 7 years of tenure on select schemes.

    Loan for every category of customer

    Auto loans are available for:

    • Salaried
    • Self-employed
    • Individuals
    • Proprietorships
    • HUF
    • Partnership Firms
    • Limited Liability Partnership firm
    • Trusts
    • Societies and Companies

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    Terms & Conditions

    • The Bank reserves the right to reject any application without assigning reasons there of. It shall be the sole right of the Bank to consider the proposal on case to case basis after taking into consideration the credentials / credit worthiness of each of the customers.
    • The applicant will undertake to inform the Bank as and when there is a change in address or employment.
    • Axis Bank may, at its sole discretion, utilise the services of external service provider/s or agent/s and on such terms as required or necessary, in relation to its products.
    • The interest rates and processing fees are subject to change without prior notice and the offer expiry date mentioned is subject to interest rate fluctuations and will only be accommodated on a best effort and non-obligatory basis by the bank.
    • Axis Bank or its agent(s) shall not be responsible for the delivery / Model / colour / make / performance of the asset applied for under this application. The borrower undertakes to hypothecate the vehicle in favour of the Bank immediately after purchase of the vehicle.
    • Axis Bank is not responsible for the contract entered into by the Customer with the Vehicle Dealer nor does the Bank make any representation with regard to the Dealer or the Vehicle supplied by the Dealer.
    • Axis Bank is authorised to disclose from time to time any information relating to the loan to any credit bureau (existing or future) approved by Government of India and Reserve Bank of India without any notice to the borrower. Axis Bank is also authorised to make inquiries with the Credit Information Bureau of India (CIBIL) and get the applicants Credit Information Report.
    • In case of default i.e. if the amount due is not paid by due date, the customer will be sent reminders from time to time for payment of any outstanding on his loan account, by post, fax, telephone, email, SMS messaging and/or through third parties appointed for collection (as per RBI Guidelines) purpose to remind, follow-up and collect dues.
    • The product and services of the bank are subject to applicable law and regulations and would be modified / discontinued based on the prevailing law / regulation at any point of time and neither party shall be under any liability or obligation or continue the product and services of the bank till such time the terms are modified by the Parties as per the prevailing / amended law at that point of time. In the event, that the product and services of the bank cannot be continued without total compliance of the prevailing law at any point of time, the product and services of the bank shall be deemed to be discontinued forthwith from the date when the amended law restricting / prohibiting the product and services of the bank comes into force.
    • Any dispute relating to the Offer or the Terms & Conditions shall be subject to the jurisdiction of the courts in Mumbai only.
    • The Terms & Conditions mentioned above and elsewhere under the scheme are subject to modification from time to time solely at Bank's discretion.
    • Terms & Conditions: Additional Discount is provided by the Manufacture.
    • Sanction or Disbursal of Loans are at the sole discretion of Axis Bank and are subject to fulfillment of its terms and conditions and eligibility criteria. Images herein are provided only for pictorial representation and Axis Bank does not undertake any liability or responsibility for the same. Contents of this advertisem*nt, products and services offered by Axis Bank are subject to such terms and conditions as may be stipulated by the Bank, applicable laws and regulatory guidelines/ regulations, from time to time. Bank at it sole discretion, without notice, can withdraw/modify the offer. Nothing contained herein shall constitute or be deemed to constitute an advice, invitation or solicitation to purchase any products/ services of Axis Bank or any third party. The bank may use the services of agents for sales, marketing and promotion of the Loan products. Copy Rights of Axis Bank Limited. All rights are reserved. Terms & Conditions apply.
    • RBI does not keep funds or accounts of any individual/public/trust nor deals with individuals for Savings Account, Current Account, Credit Card, Debit Card, etc. Don’t be a victim to any such offers coming to you on phone or email in the name of RBI.

    All of the above is subject to Terms & Conditions.

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    Disclaimer

    For details kindly click here For details About Disclaimer .

New Car Loan - Apply for Best Car Loan Online in India (2)

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New Car Loan - Apply for Best Car Loan Online in India (3)

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New Car Loan - Apply for Best Car Loan Online in India (2024)

FAQs

Which bank is offering best car loan in India? ›

List of 10 best banks offering affordable car loans in India 2024
BankInterest rate
SBI8.55%
Axis Bank9.2%
Yes Bank9.7%
ICICI Bank10.20% for 12-35 months tenure and 9.10% for 36-96 months tenure 11.25% for used car
6 more rows
Feb 29, 2024

How much credit score required for car loan in India? ›

A good CIBIL score should be as close to 900 and at least 750 and above. Simply put, higher your score, higher are your chances of getting a car loan approved, whether for purchase of a new car or a used car.

Can I get car loan with 600 credit score in India? ›

Going by the industry standards, a score upwards of 600 can be considered as a good credit score for a car loan, and that above 750 as highly favourable. You can calculate your credit score and eligibility to receive a car loan using an online score calculator or a car loan eligibility calculator.

How can I get a better car loan rate? ›

How to Get a Low Interest Rate on a Car
  1. Be aware of your credit score. Be aware of what your credit score is and if there are any points that need to be corrected before you apply for a car loan.
  2. Clean up your score. ...
  3. Consider Refinance Loans. ...
  4. Enlist a cosigner. ...
  5. Consider in-house financing.

Which bank has the fastest loan approval in India? ›

The Loan approval process at ICICI Bank is simple, quick and instant. Once a customer's Personal Loan is approved, it takes only 3 seconds for the amount to be disbursed into your Account.

Which bank car loan is cheaper in India? ›

ICICI Bank's car loan with an interest rate of 8 percent, is one of the ten cheapest offers. At 8.15 percent, Punjab National Bank is next on the list of lenders who are offering the lowest rates on car loans. On a Rs 10-lakh car loan with repayment tenure of seven years, borrowers will have to pay an EMI of Rs 15,661.

What credit score do I need for a 50000 car loan? ›

To buy a $50,000 car and get favorable auto loan options, it's best to have a credit score in the prime or super prime categories. Prime borrowers are those with a credit score within the 661-780 range, while super-prime borrowers fall within the 781-850 range.

What is a good CIBIL score for a car loan? ›

As a thumb rule, banks consider a CIBIL score of 750 or higher credit-worthy. A score of 650 or less is deemed too low to be given a loan.

What is current car loan rate in India? ›

Car Loan Interest Rates at Leading Banks
Bank NameInterest RatesEMI per Rs. 1 lakh for 7 Years
Canara Bank7.30% - 9.90%Rs. 1,524 - Rs. 1,655
Central Bank of India7.25% - 7.50%Rs. 1,522 - Rs. 1,534
Corporation Bank7.40% - 7.50%Rs. 1,529 - Rs. 1,534
HDFC Bank8.80% – 10.00%Rs. 1,599 - Rs. 1,660
11 more rows

Can I get a 40k car with 600 credit score? ›

It's essential to be knowledgeable about how your auto loan process will be different than someone with a higher score. You might not have the same options, but you can still get an auto loan with a 600 credit score.

Can I get a 30k car with a 650 credit score? ›

If your credit score is above 620, you are likely to get a car loan with favorable terms. Most loans you can get with a 650 credit score require a down payment and come with terms of 48 months or longer. You can expect average interest rates because 650 is a middle-of-the-road credit score.

Can I get car loan with bad credit in India? ›

As a thumb rule, lenders usually approve loan applications with a credit rating greater than or equal to 750. But, a lower CIBIL score does not mean you can't apply for used car finance. It is worth noting that a significant proportion of the Indian population has no credit history or low scores.

Which bank has the best car loan rates? ›

Compare Car Loan Rates
Top Auto Loan LenderLowest APROur Award
AutoPay4.67%**Best Auto Loan Rates
PenFed Credit Union5.24%Best Credit Union Auto Loan
Auto Approve5.24%**Best Auto Refinance Rates
Consumers Credit Union6.54%Excellent Credit Union Auto Loan
2 more rows

Who has the lowest auto loan rates? ›

Compare Best Auto Loan Lenders
CompanyUsed APR RangeUsed Loan Amounts
PenFed Best Overall6.49%–17.99%$500–$150,000
AUTOPAY Best for Bad Credit/Low RatesAs low as 5.69%$2,500–$100,000
Consumers Credit Union Best Credit UnionAs low as 6.84%$500–$350,000
LendingTree Best for RefinanceAs low as 5.99% (Refinance)Not disclosed
3 more rows
Apr 12, 2024

What is one way to make your auto loan cheaper? ›

Renegotiating your loan terms, refinancing or making extra payments can help lower your car payment. You can also sell your current car and buy one with a more budget-friendly payment but watch out for high interest rates. Before you buy, shop around and save for a large down payment to keep your car payment low.

Which bank offers best auto loan rates? ›

Compare Best Auto Loan Lenders
CompanyUsed APR RangeUsed Loan Amounts
PenFed Best Overall6.49%–17.99%$500–$150,000
AUTOPAY Best for Bad Credit/Low RatesAs low as 5.69%$2,500–$100,000
Consumers Credit Union Best Credit UnionAs low as 6.84%$500–$350,000
LendingTree Best for RefinanceAs low as 5.99% (Refinance)Not disclosed
3 more rows
Apr 12, 2024

Which is the No 1 finance Bank in India? ›

Answer: Some of the top financial institutions in India include Bajaj Finance Limited, Tata Capital Financial Services Ltd, Aditya Birla Finance Ltd, L & T Finance Ltd, Muthoot Finance Ltd, Mahindra & Mahindra Financial Services Limited, HDB Financial Services, Power Finance Corporation Limited, Shriram Transport ...

How to choose a car loan in India? ›

Interest rates are a crucial factor to consider when choosing a car loan. First-time buyers should compare interest rates offered by various lenders and choose a loan with a competitive interest rate. They should also keep in mind that interest rates can vary depending on the loan tenure and down payment amount.

What is the car loan interest rate in HDFC? ›

HDFC Bank Car Loan for new cars begins at an interest rate of 9.40% p.a. For Used Car Loans, HDFC Bank Car Loan Interest Rate begins at 13.75% p.a.

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