Car loans for new and used cars
Finance a new car or a pre-owned one. Compare offers from banks and NBFCs and choose an EMI that fits your monthly budget.
- Loan amount
- Up to 90% of on-road price
- Interest from
- 8.5% p.a.
- Tenure
- Up to 7 years
Rates and fees are indicative and set by the lender.
Key features
Why choose a car loan through Fund Finserv
New and used cars
Loans for new cars and for pre-owned cars from dealers or owners.
High funding
Some lenders fund most of the on-road price.
Car as security
The car is hypothecated to the lender until you repay.
Fixed EMIs
Equal monthly instalments over a tenure you choose.
Eligibility
Who can apply
- Indian resident aged 21 to 65 years
- Salaried or self-employed with a minimum income of ₹3 lakh a year
- A credit score of 700 or more improves your chances
Documents required
What you will need
- PAN and Aadhaar
- Income proof: salary slips or ITRs
- Last 6 months’ bank statements
- Car quotation or proforma invoice
Rates
Interest rates and charges
Indicative. The final rate is set by the lender after assessing your profile.
| Charge | Indicative range |
|---|---|
| Interest rate | 8.5% to 18% p.a. Indicative |
| Processing fee | Up to 2% of the loan amount + GST Indicative |
| Prepayment / foreclosure | Up to 5% of the outstanding principal Indicative |
| Late payment charge | Up to 2% per month on the overdue amount Indicative |
EMI calculator
Work out your EMI
The rate here is only an example. Your lender will confirm your actual rate.
Monthly EMI
₹16,704
for 60 months
- Principal
- ₹8,00,000
- Total interest
- ₹2,02,235
- Total payable
- ₹10,02,235
For illustration only. Your actual EMI depends on the rate and tenure the lender offers you.
FAQs
Car Loan FAQs
Yes. Used car loans are available, usually with a shorter tenure and a slightly higher rate than new car loans.