Whether you're buying a new or used car, a car loan can help you spread the cost over manageable monthly payments. Get guidance on eligibility, documentation, and flexible repayment options tailored to your vehicle and financial profile.
A car loan is a secured auto financing product where you borrow money to purchase a vehicle, which serves as collateral for the loan. The lender holds the vehicle's ownership until the loan is fully repaid, making it a lower-risk product for financial institutions.
Car loans are designed with fixed or floating interest rates, structured tenure, and transparent EMI calculations. They're available for new vehicle purchases, used vehicle acquisitions, and sometimes for refinancing existing auto loans.
As a secured product, car loans typically offer more competitive rates compared to unsecured personal loans.
Choose repayment periods that suit your budget and financial planning, typically 3 to 7 years.
Streamlined documentation and faster approvals help you drive home your vehicle sooner.
Decide on the car model and specifications that fit your needs and budget.
Submit your loan application with personal, income, and vehicle details.
Vehicle inspection and valuation followed by approval confirmation.
Finalize documentation, insurance, registration, and vehicle handover.
Use our EMI calculator to estimate your monthly repayments based on vehicle price, down payment, interest rate, and tenure.
Calculator results are indicative only. Actual sanction terms depend on vehicle valuation, profile, and lender policy.