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Kotak Mahindra Bank Car Loan

Kotak Mahindra Bank Car Loan

4

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NA

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Processing Fee

nil*

Axis bank Car Loan

Axis bank Car Loan

4

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NA

Best Rate

Processing Fee

nil*

Canara Bank Car Loan

Canara Bank Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

DCB Bank Car Loan

DCB Bank Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

IDBI Bank Car Loan

IDBI Bank Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

Punjab National Bank Car Loan

Punjab National Bank Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

State Bank of India Car Loan

State Bank of India Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

IndusInd Bank Car Loan

IndusInd Bank Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

Andhra Bank Car Loan

Andhra Bank Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

Bank of Baroda Car Loan

Bank of Baroda Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

Karnataka Bank Car Loan

Karnataka Bank Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

Central Bank of India Car Loan

Central Bank of India Car Loan

4

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NA

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Processing Fee

nil*

Corporation Bank Car Loan

Corporation Bank Car Loan

4

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NA

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Processing Fee

nil*

Indian Bank Car Loan

Indian Bank Car Loan

4

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NA

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Processing Fee

nil*

Oriental Bank of Commerce Car Loan

Oriental Bank of Commerce Car Loan

4

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NA

Best Rate

Processing Fee

nil*

Union Bank of India Car Loan

Union Bank of India Car Loan

4

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NA

Best Rate

Processing Fee

nil*

Dhanlaxmi Bank Car Loan

Dhanlaxmi Bank Car Loan

4

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NA

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Processing Fee

nil*

Federal Bank Car Loan

Federal Bank Car Loan

4

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NA

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Processing Fee

nil*

Indian Overseas Bank Car Loan

Indian Overseas Bank Car Loan

4

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NA

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Processing Fee

nil*

Jammu and Kashmir Bank Car Loan

Jammu and Kashmir Bank Car Loan

4

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NA

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Processing Fee

nil*

Lakshmi Villas Bank (LVB) Car Loan

Lakshmi Villas Bank (LVB) Car Loan

4

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NA

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Processing Fee

nil*

Punjab & Sind Bank Car Loan

Punjab & Sind Bank Car Loan

4

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NA

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Processing Fee

nil*

SVC BANK Car Loan

SVC BANK Car Loan

4

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NA

Best Rate

Processing Fee

nil*

ICICI Bank Car Loan

ICICI Bank Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

Vijaya Bank Car Loan

Vijaya Bank Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

South Indian Bank Car Loan

South Indian Bank Car Loan

4

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NA

Best Rate

Processing Fee

nil*

RBL Bank Car Loan

RBL Bank Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

Bank of Maharashtra Car Loan

Bank of Maharashtra Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

Karur Vysya Bank Car Loan

Karur Vysya Bank Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

Syndicate Bank Car Loan

Syndicate Bank Car Loan

4

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NA

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Processing Fee

nil*

UCO Bank Car Loan

UCO Bank Car Loan

4

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NA

Best Rate

Processing Fee

nil*

Tamilnad Mercantile Bank Car Loan

Tamilnad Mercantile Bank Car Loan

4

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NA

Best Rate

Processing Fee

nil*

HSBC Bank Car Loan

HSBC Bank Car Loan

4

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NA

Best Rate

Processing Fee

nil*

Allahabad Bank Car Loan

Allahabad Bank Car Loan

4

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NA

Best Rate

Processing Fee

nil*

Bank of India Car Loan

Bank of India Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

Catholic Syrian Bank Car Loan

Catholic Syrian Bank Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

DBS Bank Car Loan

DBS Bank Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

Nainital Bank Car Loan

Nainital Bank Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

Ratnakar Bank Car Loan

Ratnakar Bank Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

United Bank of India Car Loan

United Bank of India Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

YES Bank Car Loan

YES Bank Car Loan

4

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NA

Best Rate

Processing Fee

nil*

DENA Bank Car Loan

DENA Bank Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

Magma Fincorp Car Loan

Magma Fincorp Car Loan

4

Max Tenure

NA

Best Rate

Processing Fee

nil*

HDFC Bank Car Loan

HDFC Bank Car Loan

4

Max Tenure

7 yrs

Best Rate

10.00%

Processing Fee

3220

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Car Loan in Pune

You cannot talk about the progress that Maharashtra has made without Pune, one of the emerging cities in the country is an IT, industrial and tourism hub; all this requires a city which lives and drives to work. No wonder there is an increase in the number of cars in the market and obviously the only way to buy a car is through a car loan.

What is a car loan?

A car loan is one which is used to buy any type of car be it a sedan, hatchback, SUV etc. for own or commercial purposes. They are generally structured as installment loans which the borrowers will repay in Equated Monthly Installments (EMI). These car loans can be got from any bank and NBFCs who are willing to provide the service based on their eligibility criteria.

Eligibility: car loan in Pune

AgeMinimum 21 years
Maximum 75 years
Employment TypeSalaried or Self-employed
Employment statusEmployed/In-business for at least 3 yrs. and at least 2 years with current employer/business
Maximum loan amountOn an average financial institution pay up to 90% of the loan
Minimum IncomeRs. 10,000 per month
TenureMinimum – 12 months
Maximum – 60 months
Credit ScorePreferred 750
NationalityIndian

Fees and Charges: car loan in Pune

Following are the fees and charges levied on car loans provided by various lenders in Pune.

Loan processing charges : vary 1% to 3% of the loan amount

Documentation charges : 0.5% to 3% of loan amount

Pre-payment charges : 1%-3% at any given point in the loan cycle

There could also be pre-payment charges based on the repayment cycle

No Due Certificate : will vary with bank

EMI Late payment penalty : 1% to 3% Per Month on the Unpaid Installment

Stamp duty : as levied by the state government

Cheque bounce / EMI return charges : Rs.100 to Rs 500/-

Loan cancellation charges: : Varies from bank to bank

Legal, repossession & incidental charges : At actuals

Duplicate NOC : viz. The cost to issue another NOC by the lender: Rs 500

PDD collection charges : Up to Rs.450/-

Cheque/ECS swapping charges : Rs 250/- onwards

Amortization schedule charges : Rs 200/- onwards

Special NOC charges : Rs 250/- onwards

Loan rebooking/reschedule charges : Rs 500/- onwards

Documentation: car loan in Pune

Important documents to be submitted while applying for car loans in Pune

  • Completed loan application
  • 3 Passport size photographs
  • Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill)
  • Statement of Bank Account/ Pass Book for last six months
  • Proof of identify (photo copies of Voters ID card/ Passport/ Driving license/ IT PAN card)
  • IT returns for the three years for self-employed professionals
  • Form 16/IT returns for the last two financial years for salaried employees

How to apply for car loan in Pune?

There many ways one can apply for a car loan in Pune

Applying for a car loan Through CreditMantri

You can check your eligibility and apply for a car loan by signing up with CreditMantri. By creating their free credit profile on CreditMantri, the user would be matched to car loan lenders in Pune based on their credit profile. This eases the process of application as the user can at one place get to see the list of lenders to which they can apply and have a higher chance of car loan approval.

CreditMantri matches your credit and demographic profile to the lender's lending criteria and presents you a shortlist of only those lenders willing to lend to you based on your unique credit profile. In effect, we pre-screen your application to make sure you are likely to qualify as per the lender’s credit criteria. Hence, the chances of your car loan application getting approved is higher.

How to choose a car loan in Pune

When choosing a car loan in Pune, a person first needs to understand their current financial situation. Next, he/she needs to check their credit score. A credit score will only be available if the borrower had taken loans before or if they own a credit card. If the credit score is low the person needs to improve it before applying for the loan to make sure they get the best offer.

Then the customer needs to zero in on the car of their choice. After choosing the car, you need to decide how much you are going to pay and how much loan amount you are going to take. Never take a loan beyond your means. Choose a loan and EMI which you can pay comfortably.

Which Is the Best Bank for car loan in Pune?

There are many leading banks and NBFCs which offer car loans in Pune like HDFC, ICICI, SBI etc. The best lender is one where you can get the loan amount you want at an interest rate that is comfortable for you and who can disburse the funds as early as possible. It is always better to compare the car loans from different lenders and then look to apply for one that suits all requirements like interest rates, tenure etc.

Car loan EMI Calculator

To get a better understanding of your loan requirement and how much EMI you will pay, you can use the EMI calculator available on CreditMantri website and on the bank/NBFC website. By inputting the tenure, interest rate and loan amount you will get to know how much EMI you will pay. You can vary the inputs for various scenarios and know the EMI in each case. This will help you plan for the loan you want.

Car Loans in Pune FAQs

1. Where can I get the cheapest car loan interest rates in Pune?

The interest rate depends on your salary, the loan amount you require, credit score and the tenure you opt for. You can negotiate for good terms with a good credit score.

2. Where can I find a car loan interest calculator?

You can visit CreditMantri website or the lending bank website where you will find the option of EMI calculator. Input various interest rates to get the respective EMIs. The interest rate can be obtained by applying for the loan where you will submit basic information like salary, company and job experience details based on which interest rates will be displayed.

3. What are the banks that provide car loans in Pune?

Pune being a metro city has all the major banks in the country which have a variety of credit products including car loans which can be availed by the people of Pune.

4. What is the time period of a car loan?

A car loan usually has a tenure of five years but there are some banks which give up to 7 years.

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