Compare Banks, Calculate EMI, Check Eligibility & Apply Online in India
Use this calculator to estimate your monthly EMI. Enter loan amount, tenure in months, and interest rate.
Choose from leading banks offering competitive interest rates:
This table will help you compare interest rates, tenure, and EMI easily.
Some fintech lenders may allow lower CIBIL scores if income is strong.
Providing a co-applicant can increase approval chances.
Comparison is key to save money. Consider:
Use the EMI calculator to simulate different scenarios before applying.
Most banks now provide online tracking of your application status. Some fintech platforms offer same-day disbursal for salaried applicants.
Typically, banks prefer a CIBIL score above 650. Some lenders may approve loans for scores as low as 600 if other income criteria are met.
Yes, prepayment is allowed. Check if the bank charges prepayment fees. Many banks allow partial or full prepayment without extra cost after a certain tenure.
Salaried applicants: 1–2 days. Self-employed applicants: 3–5 days depending on documentation.
Few fintech apps allow loans with minimal documentation, but banks generally require proof of income. A co-applicant may help improve eligibility.
Typically 0.5–1.5% of the loan amount. Some banks offer zero processing fees during promotional periods.
Yes, many banks provide pre-approved offers for existing customers, which can speed up disbursal.
Yes, most banks provide loans for used cars, usually up to 80–85% of the car’s current market value.
Always check the fine print. Some banks may have insurance, documentation, or late payment charges.
Here’s a snapshot comparison of popular banks:
| Bank | Interest Rate | Tenure | Processing Fee |
|---|---|---|---|
| SBI | 9.5% p.a. | 12–84 months | 1% of loan amount |
| HDFC | 9.8% p.a. | 12–84 months | 0.5%–1% |
| ICICI | 10% p.a. | 12–84 months | 1% flat |
| Axis Bank | 9.9% p.a. | 12–84 months | 0.75% |
| Kotak Mahindra | 10.2% p.a. | 12–60 months | 1% of loan amount |
This table helps you quickly choose the bank that fits your EMI and tenure preferences.
Example 1: Loan ₹5,00,000 at 9.5% for 60 months. EMI = ₹10,556. Total interest = ₹1,33,360. Total payable = ₹6,33,360.
Example 2: Loan ₹8,00,000 at 10% for 72 months. EMI = ₹14,306. Total interest = ₹2,29,000. Total payable = ₹10,29,000.
Example 3: Loan ₹3,00,000 at 9.8% for 48 months. EMI = ₹7,63,000. Total interest = ₹64,000. Total payable = ₹3,64,000.
These examples help borrowers plan monthly budgets realistically.
This page provides general information on car loans for educational purposes only. It is not financial advice. Always consult a certified financial advisor or bank before applying. All Finance Store is not responsible for financial losses based on this information.