Apply Online & Get Approval Quickly – 2025 Guide
Before applying, explore these trusted apps for quick approval and seamless disbursal:
Car loans without down payment are becoming increasingly popular in India, especially for salaried professionals. With zero upfront payment, borrowers can drive their dream car immediately while repaying in easy EMIs. These loans are unsecured or secured depending on lender policy. Top banks and fintech apps now provide digital approval within 24–48 hours.
This guide explains eligibility, documents, top apps, interest rates, EMI calculator, tips, and FAQs for a smooth experience.
| Bank/App | Interest Rate (% p.a.) | Processing Fee |
|---|---|---|
| HDFC Bank | 9.5–14% | 1–2% |
| ICICI Bank | 10–15% | 1–2% |
| Axis Bank | 9.75–13.5% | 1–2% |
| CarDekho Finance | 11–18% | 1–2% |
| ETMoney | 10–16% | 1–2% |
EMI Formula: EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]
| Loan Amount | Tenure | Interest Rate | EMI |
|---|---|---|---|
| ₹3,00,000 | 36 months | 11% | ₹9,900 |
| ₹5,00,000 | 48 months | 12% | ₹13,200 |
| ₹7,50,000 | 60 months | 13% | ₹17,000 |
Yes, many banks and apps provide zero down payment loans for eligible salaried professionals.
Most top apps and banks approve within 24–48 hours. Some fintech apps offer minutes-level approval.
Depends on your monthly income, existing EMIs, and lender policy. Usually banks offer up to 15–20 times your monthly salary.
Yes, most lenders allow prepayment, though some may charge nominal penalty. Check terms before applying.
Processing fees, prepayment penalties, and late payment charges may apply. Always read loan terms carefully.
Mr. Verma, salaried professional earning ₹50,000/month, wanted a new car worth ₹6,00,000:
This shows how zero down payment car loans work seamlessly via digital platforms.
This page provides general information on car loans without down payment in India for educational purposes only. It is not financial advice. For personalized advice, consult a certified financial advisor or bank representative. All Finance Store is not responsible for any financial decisions or losses made based on this content.