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User reviews
  • It was through the car dealer I have availed the car loan from State bank of Mysore. Everything went smooth and my loan was disbursed within 3 days of time once the documentation process complete. They offered me a good rate of interest around 10.5%.
    04:16 PM - Sep 01, 2014

    SAJIN SEBASTIAN, bangalore
    5.0/5 "Blown Away!"
  • I Availed Car Loan from HDFC the disadvantage is they charge for pre payment, interest rate when compare to other banks was bit high, ECS option and reminder message is very helpful, loan approval process was done in 4 to 5 days. Overall the service was quick.
    01:19 PM - Aug 30, 2014

    PRATYUSH LADHA, kolkata
    3.0/5 "Satisfactory"
  • In the year 2005 I have availed a car loan from SBI. I had directly visited the branch of SBI and made my request for a car loan. The next moment they collected the required documents from me and they ensured my loan disbursement within 5 to 7 days. Only the follow up was not that good because they suddenly increased the rate of interest without prior notification. Rate of interest was around 10.5% and the processing fee & charges are reasonable.
    06:19 PM - Aug 28, 2014

    RATHEESH . AMIRVIN J, chennai
    5.0/5 "Blown Away!"
  • HDFC car loan provides good and quality customer service. They are very much faster in processing the loan. I guess. this is one of the leading finance in India and they are known for their quality. I have approached them for a car loan this month and much happy with their services.
    05:45 PM - Aug 28, 2014

    SWAPNIL JANGAM S, mumbai
    4.0/5 "Great!"
  • My feedback for SBI is good, the customer service executives called me a they asked for too many documents like authority letter , salary slip and also details confirming all the salary deductions, in depth details about my deductions . I was not comfortable in disclosing all such details and the best part about SBI they offer the least rate of interest rate and very less processing fee.
    04:47 PM - Aug 28, 2014

    NILESH A, pune
    5.0/5 "Blown Away!"
  • My recent experience of applying for a car loan with ICICI bank was pretty good. Everything was alright with ICICI bank however it is me who cancelled the application and post ponded my plan for the next 3 months. ICICI bank was overall very good and I have no problem. I think the rate of interest was also somehow OK.
    11:58 AM - Sep 01, 2014

    NIMESH SINGH, new delhi
    4.0/5 "Great!"
  • At present I dont have any plans to purchase a new car, probably after 6 months I might purchase a new car. I am happy with the rate of interest what ICICI has offered me for the car loan and its much better when compared with other Banks. The reason why, I prefer ICICI is because I hold an account with them and I like their services.
    11:51 AM - Aug 30, 2014

    PRAMOD SANGLIKAR, pune
    5.0/5 "Blown Away!"
  • I had recently applied for a car loan with ICICI bank. I did not avail the loan because I was in a little confusion in choosing the car model. I am not in a hurry as I am already holding the car however I have just post ponded my plan for sometimes. I got immediate response from ICICI bank and they explained me everything in detail about the loan. I would contact ICICI bank again once I finalize the car model.
    06:18 PM - Aug 28, 2014

    RATHEESH . AMIRVIN J, chennai
    4.0/5 "Great!"
  • I got a car loan is that they its better communication to any cusotmer they should communicate rate and how to avial loan roi was ok i have approached them for they told me that they will communicate by Monday no calls i have availed finance theorugh the dealer itself form toher bank i have taken car loan
    05:44 PM - Aug 28, 2014

    SWAPNIL JANGAM S, mumbai
    2.0/5 "Expected more"
  • I had opted for a car loan from ICICI bank in the year 2010. Interest rates are standard and the processing fee & charges are reasonable. At the same time the problem is the documentation part because the bank executive who collected the documents from me came back thrice for getting mandatory signatures on the forms. After 5 to 6 days of processing they disbursed my loan. Unfortunately my recent car loan application with ICICI bank has been close for some reason.
    04:47 PM - Aug 28, 2014

    SOHAEB ALAM, bangalore
    3.0/5 "Satisfactory"
  • It was a nice experience of availing a car loan from SBI. I have an account with SBI therefore I had visited the branch for availing a car loan. After I submitted all the required documents to the branch people they ensured my loan disbursement within 2 to 3 days. I was really happy with the rate of interest of 10.5%.
    10:40 AM - Sep 01, 2014

    CHENNAKESAVA REDDY, hyderabad
    4.0/5 "Great!"
  • I have approached ICICI for a car loan, unfortunately I have changed my plan. I have decided to purchase a used car, instead of new car . I am unable to comment more about ICICI, from my perspective they are very quick in response, as I got a call from them immediately with in an hourâ??s time. The rate of interest is 16% which is much higher, when compared with other Banks as other Banks are offering me at 13 to 15% interest.
    10:35 AM - Aug 30, 2014

    MUHAMMED SHAN A, kochi
    5.0/5 "Blown Away!"
  • It was a good experience of applying for a car loan with ICICI bank. To be frank the response from ICICI bank was very good and executives followed up very well. They are always ready to send the person to my residence for collecting the documents. Meanwhile I opted for the loan from another bank which took the whole responsibility and processed my application quite fast. In terms of rate of interest they are not coming down from 10.5%.
    05:54 PM - Aug 28, 2014

    JALESH SURESH RAUT, mumbai
    5.0/5 "Blown Away!"
  • My feedback for SBI car loan is ok , the customer service executives called me a they asked for too many documents like authority letter , salary slip and also details confirming all the salary deductions, in depth details about my deductions . I was not comfortable in disclosing all such details and the best part about SBI they offer the least rate of interest rate and very less processing fee.
    04:52 PM - Aug 28, 2014

    NILESH A, pune
    1.0/5 "Really Bad"
  • ICICI Car Loan service is ok , there is no specific reason for dropping ICICI. I got a positive response from HDFC first, so I have taken a loan with them. I have holding a savings account with ICICI their service is really good overall their service is satisfactory.
    04:44 PM - Aug 28, 2014

    NILESH A, pune
    5.0/5 "Blown Away!"
  • I have applied through on line for a ICICI Bank car loan, unfortunately I did not receive any calls till date and I have no way of knowing what has happened to that application . Mean while, I got a better offer else where I switched over. Finally, when everything was over I got a call from ICICI, by that time everything was completed it could have been better if they have provided me proper response on time.
    06:53 PM - Aug 30, 2014

    DR NEELAM ROY , new delhi
    1.0/5 "Really Bad"
  • I have approached ICICI for a car loan , they asked me to submit certain documents. I got a call from them, as I was not holding FORM 16, I asked them to wait for 10 days . Mean while, I got a better deal from KOTAK Bank and I switched over to that Bank.
    06:47 PM - Aug 28, 2014

    SHARAD KUMAR, ghaziabad
    4.0/5 "Great!"
  • I have recently availed a car loan from HDFC bank. Basically the car dealer is having some local connection and everything was taken care by the car dealer himself who ensured my loan disbursement within 2 days. Rate of interest was 10.25%. After availing the loan only I came to know that the rate of interest could have been negotiated. As a member of the bank the processing fee was reduced a little bit.
    05:54 PM - Aug 28, 2014

    JALESH SURESH RAUT, mumbai
    5.0/5 "Blown Away!"
  • My recent experience of applying for a car loan with ICICI bank was too good. Unfortunately I had to drop the plan of availing the loan from ICICI bank because my company has provided me the loan under car lease policy. I found my company's offer much better and really saved me time & money. It would be better if the rate of interest is reduced by ICICI bank.
    04:50 PM - Aug 28, 2014

    PRASAD NARASIMHA SRIHARSHA, bangalore
    5.0/5 "Blown Away!"
  • My recent experience of applying for a car loan with ICICI bank was fantastic. Unfortunately I had let my loan application close because of some financial crisis. Otherwise I would really appreciate the bank for their wonderful services. They responded timely on my loan application and provided good customer service overall.
    04:42 PM - Aug 28, 2014

    MAULIK SHAH, surat
    4.0/5 "Great!"
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BankBazaar Car Loan is Rated as "Great!" by 2208 Users
 4.0 / 5.0   by 2208 users
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Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

Car Loan BYTES FROM OUR KITCHEN

You're eligible for a Car Loan if you:

01
02
03
04
That's 21 years old, same time that everything besides milk becomes legal too

Are legally adult enough to handle it

Less than 65 years of age, because sanguine golden years are for playing golf

Have still got it

Salaried or self-employed - whatever puts food on your table

Get a regular pay check

There's a minimum amount for that regular pay check

Make more than a basic buck


Your eligibility depends on

01
02
03
Car Loan Minimum Salary

Minimum income required
Rs.2,40,000 per annum

Car Loan Maximum Loan Funded

Loan capped @
85% Ex-Showroom price

Car Loan EMI

EMIs of other loans lower
your eligibility


Boost your eligibility by

01
02
Car Loan Payoff Outstanding Credit Card Bills

Pay off your credit card bills

Choose longer tenure loan up to 5 Yr years


Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Car Loan Interest RatesUpdated on 02 Sep 2014

Car Loan Details
Interest Rate (Monthly reducing balance) 10.5% - 12.75%
Processing Fees Rs. 500 to Rs 5,000
Loan Tenure 1 year to 5 years
Pre-closure Charges 2% to 4% on outstanding loan amount
Guarantor Requirement No guarantor required

rated 4.0 /5.0
by 2208 users
Over 5,00,000 Happy Customers with loans & cards
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Compare multiple options and choose the one that best suits you

Compare the best car loan offers in town and locate the lowest rates!

Offers to Compare
Over 25 offers to compare!

This is our forte- helping you compare the finest deals. Additionally, we'll handpick offers that suit your profile and present the best rates from several banks, so you can make a thoroughly-informed decision.

Breaking Down Offers
Breaking down offers

We're obsessed with giving you a 365 degree view of offers. So, we'll break it down for you - EMIs, eligibility, maximum amount that can be borrowed, fees, hidden charges... no more getting fooled by the fine print!

Why Apply Online
Cheaper than dealer

There's a good reason why thousands of customers choose BankBazaar- we're cheaper than most dealers. Best part- by applying here, you can get the lowest rates AND still demand all those freebies from your car dealer!

Cheaper then Dealer
Why apply online?

You don't have to fight for parking space! Jokes apart, applying online will help you save time and money; plus, you'll be able to use the services of our super-friendly customer service team at anytime and get all your queries answered.

Comparing Best Car Loans
Done comparing! Now what?

We showcase the best loan offers and help you compare them... what next? Well, we'll aid you in applying to the bank of your choice and work with you right up to the delivery of the loan!

Still have a gazillion questions?
Still have a gazillion questions?

Think of BankBazaar as your loan-savvy buddy! Our customer support team is at your service to clear doubts on eligibility, offers, procedures and documentation, and help you apply. They'll even co-ordinate with the bank to get you your loan on time.

Connect to the Bank
We'll connect you to the bank

We know the bank guys really well! So, if you want to talk to a bank representative or get help on your loan application, we won't just connect you to them; we'll also do the follow-up on your behalf.

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