Car Loan at 8.75%* p.a. with up to 100% on-road funding
- New & used car loans
- Up to 100% on-road price financing
- Quick approval at your dealership
Interest from
8.75% p.a.
Loan up to
100% on-road price
Tenure
1 – 8 years
Car Loan at a Glance
| Feature | Details |
|---|---|
| Interest Rate | 8.75% – 16% p.a. |
| Loan Amount | Up to 100% of on-road price |
| Tenure | 12 – 96 months |
| Processing Fee | Up to 2% of loan amount |
| Used Car Loan | Available |
| Minimum CIBIL Score | 700+ preferred |
Car Loan Interest Rates
Compare offers from our lending partners. Rates are indicative and depend on your profile.
Axis Bank
HDFC BankKey Features & Benefits
High Funding
Finance up to 100% of on-road price on select models.
New & Used Cars
Loans available for both new and pre-owned cars.
Long Tenure
Lower EMIs with tenure up to 8 years.
Fast Processing
Approval in as little as 24 hours.
Car Loan EMI Calculator
Use the sliders to see your monthly EMI and total interest.
Eligibility Criteria
- Age between 21 and 65 years
- Minimum annual income of ₹3 Lakh
- Salaried or self-employed
- Good credit score (700+)
Documents Required
- PAN, Aadhaar and address proof
- Salary slips / ITR
- Last 6 months bank statement
- Car quotation / proforma invoice
Fees & Charges
| Particulars | Charges |
|---|---|
| Processing Fee | Up to 2% of loan amount |
| Foreclosure | Up to 5% of outstanding principal |
| Late EMI Payment | 2% per month on overdue amount |
How to Apply for Car Loan via MyLoanWala
- 1
Fill a short form with your name, mobile number and loan requirement.
- 2
Our loan expert calls you and compares offers from multiple banks & NBFCs.
- 3
Choose the best offer and submit documents online.
- 4
Get approval and money credited directly to your bank account.
Car Loan — FAQs
Can I get a car loan for a used car?
Yes, many banks and NBFCs offer used car loans, usually for cars up to 8–10 years old at the end of tenure.
Is a down payment required?
Some lenders offer 100% on-road funding for select models; otherwise a 10–20% down payment is common.