Car Loan in India
Dreaming of a new car or a reliable used one? Credvivo makes getting a car loan easy. We compare car loan options from over 15 banks so you get the lowest interest rates.
Buying a vehicle? Your EMI is just one piece — you may also want a personal loan for the down payment or motor insurance to stay protected on day one.
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Car Loan in India — quick comparison
Comparison
| Vehicle / lender | Interest rate (p.a.) | Tenure | Funding |
|---|---|---|---|
| New car — public bank | 8.70% – 9.50% | 12 – 84 months | Up to 100% on-road |
| New car — private bank | 9.00% – 10.50% | 12 – 84 months | Up to 95% on-road |
| Used car (≤ 7 yrs old) | 11.00% – 14.00% | 12 – 60 months | Up to 85% of value |
| EV / green car schemes | From 8.50% | 12 – 84 months | Up to 100% |
Why Choose Credvivo for Your Car Loan
Fast Approval: Get quick loan decisions so you can drive your dream car sooner.
Compare Bank Offers: We help you compare loans from HDFC, SBI, ICICI, Axis, and more to find the best deal.
Expert Support: Our loan experts guide you at every step, making the process smooth.
Minimal Paperwork: We help you with a simple documentation process for a hassle-free experience.
Lowest Interest Rates: We ensure you get the most competitive interest rates available in the market.
No Hidden Charges: Credvivo offers complete transparency with zero hidden fees or charges.
Who Can Apply
- Indian Resident
- Age: 21-65 years
- Salaried: Minimum net monthly income of ₹20,000
- Self-Employed: Minimum annual income of ₹2.5 lakh (ITR)
- CIBIL Score: 700+
Documents Needed
- PAN Card
- Aadhaar Card
- Latest 3 months' Salary Slips or 2 years' ITR for self-employed
- Last 6 months' Bank Statements
- Proof of Residence (Utility Bill/Rent Agreement)
- Vehicle Quotation/Proforma Invoice (for new car loan)
Car Loan in India eligibility and document checklist
Eligibility
| Criterion | Typical requirement |
|---|---|
| Age | 21 – 65 years |
| Minimum income (salaried) | ₹20,000 / month net |
| Minimum income (self-employed) | ₹2.5 lakh / year ITR |
| CIBIL score | 725+ for best rates |
| Employment vintage | 1+ year (salaried), 2+ years (business) |
Document checklist
| Category | Salaried | Self-employed |
|---|---|---|
| Identity & address | PAN, Aadhaar | PAN, Aadhaar |
| Income proof | Last 3 salary slips, Form 16 | Last 2 years' ITR |
| Bank statements | Last 3 months | Last 6 months |
| Vehicle | Proforma invoice from dealer | Proforma invoice from dealer |
Plan your Car Loan in India EMI
Your Monthly EMI · Car Loan
₹16,801
How It Works
Apply Online
Fill out our simple online application form in minutes.
Compare Offers
Our experts will help you compare car loan interest rates from various banks.
Get Approval
Receive quick approval from your chosen bank.
Loan Disbursal
Funds are disbursed directly to the dealer or your account.
Frequently Asked Questions
Looking for something different? You can also explore Home Loan options, check Personal Loan options or compare Business Loan solutions.
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