Car Loan Solutions
Drive home your dream vehicle with competitive auto loans, up to 100% on-road funding, and fast digital approvals.
Quick Highlights
About the Loan
A Car Loan is a secured auto finance product that helps you buy a new car, a pre-owned vehicle, or an electric vehicle (EV) with monthly installments. The vehicle itself acts as security/collateral for the loan under a hypothecation agreement with the bank until the loan is fully repaid. Car loans feature relatively low interest rates compared to unsecured loans, with repayment tenures ranging up to 7 years. At Loansta, we make auto financing simple by comparing deals from India's leading banks. We help salaried and self-employed customers secure up to 100% on-road funding (covering ex-showroom price, road tax, and registration charges). We also support specialized electric vehicle (EV) loans which feature lower interest rates and additional income tax benefits under Section 80EEB. If you are looking to buy a used/pre-owned car, we provide used car financing options with fast valuation checks and simple registration transfers. Our relationship managers coordinate with car dealers and bank officers to ensure quick document verification and direct dealer payments, so you can pick up your keys without delay.
Benefits of Loansta
✓High Funding Limits
Secure up to 100% on-road funding covering registration, tax, and insurance.
✓Low Interest Rates
Start as low as 9.10% p.a. for new cars with flexible reducing balance terms.
✓Flexible Repayment
Repay comfortably over a tenure of up to 7 years (84 monthly installments).
✓Special EV Loan Rates
Get discounted interest rates and tax deductions on electric car purchases.
✓Used Car Financing
Finance pre-owned cars up to 8 years old with quick valuation appraisals.
✓Fast Loan Disbursal
Get in-principle auto loan sanctions within 24 to 48 hours.
✓Minimal Documentation
Submit basic KYC details, bank account statements, and income slips.
✓No Collateral Required
The purchased vehicle serves as the sole collateral under bank hypothecation.
✓Pre-Approved Auto Loans
Access instant pre-approved auto limits if you have a premium salary account.
✓Doorstep Support
Our relationship manager coordinates directly with the car dealership.
Features & Variants
New Car Loan
Finance any newly launched sedan, SUV, hatchback, or electric vehicle.
Used Car Loan
Finance pre-owned cars from authorized dealers or direct sellers.
EV Auto Financing
Eco-friendly green vehicle financing with subsidized rates and tax reliefs.
Eligibility Criteria
- Age: 21 to 65 years at the time of loan completion
- Nationality: Resident Indian
- Employment: Minimum 1 year of continuous employment or 2 years of active business operations
- Income: Minimum monthly net income of ₹20,000 (salaried) or annual business profit of ₹2.5 Lakhs (self-employed)
- Requirements: CIBIL score of 700+ and clean repayment history on existing liabilities.
Required Documents
- PAN Card and Aadhaar Card (KYC)
- Proof of Address (Utility bill, Passport, Rent agreement)
- Salary Slips for the last 3 months (Salaried)
- Form 16 or latest Income Tax Return (ITR)
- Bank Account Statement for the last 6 months showing salary or business credits
- Car Proforma Invoice from the authorized vehicle dealer
Interest Rate Comparison
| Bank Name | Interest Rate | Processing Fee | Max Tenure |
|---|---|---|---|
| SBI Auto Loan | 9.10% - 9.80% | 0.20% of loan amount | Up to 7 Years |
| HDFC Car Loan | 9.15% - 10.25% | Up to ₹5,000 | Up to 7 Years |
| ICICI Car Loan | 9.20% - 10.50% | 0.50% of loan amount | Up to 7 Years |
| Axis Bank Car Loan | 9.30% - 11.00% | Up to ₹6,000 | Up to 7 Years |
Plan Your EMI Smartly
See your monthly EMI before you apply — adjust amount, rate and tenure.
Principal vs Interest
- Principal (77.5%)₹15,00,000
- Interest (22.5%)₹4,34,451
Year-wise Repayment
- Outstanding balance
- Paid-down area
How to Apply
Choose Loan
Compare & pick products
Fill Form
Submit basic inputs
Upload Docs
Share digital KYC
Verification
Bank reviews files
Approval
Get sanction letter
Disbursement
Money in account
Customer Testimonials
Rohit Sharma
Nagpur"Got 100% on-road funding for my new SUV. Loansta coordinated with the dealer perfectly."
Ananya Sen
Kolkata"Secured a green EV loan at a very low rate. The tax benefits under 80EEB are amazing."
Vikram Rathore
Delhi"Used car finance process was smooth. The bank completed car evaluation within 48 hours."
Meera Nair
Bengaluru"Clean digital process. Uploaded my bank statements and got the sanction letter next morning."
Aditya Roy
Pune"No hidden charges, competitive processing fees, and very transparent auto loan advisors."
Kunal Jain
Indore"Loansta made my first car purchase extremely memorable and completely stress-free."
Frequently Asked Questions
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