Best Banks for Car Loan in Pune
| Feature | HDFC Bank | Private Bank |
Kotak Mahindra Bank
|
| Interest Rate (p.a.) | 7.35 % - 7.95 % | 8.5 % - 9.5 % | 11 % |
| Min Loan Amt | Metro : 1 Lac & Non Metro: 75000 | 75000 | 75000 |
| Max Loan Amt | 1 Cr | 1 Cr | 1 Cr |
| Loan Tenure | Upto 7 Years | Upto 5 Years | Upto 5 Years |
| Processing Fee | 1999 - 4999 + Tax | 0.25% to 1.50% | 0.25% to 1.50% |
| Preclosure Chgs | 2%, Nil after 24 months | 2%, Nil after 36 months | Nil |
| Loan to Value (LTV) | Upto 100% on Ex- showroom | Upto 95% on Ex- showroom |
Upto 90% on Ex- showroom
|
Car Loan Pune Features
⍟ Loan Approval in 30 Minutes
⍟ Lowest Rate of Interest
⍟ Up to 100% on Road Loan
⍟ Minimum Documentation
⍟ Paperless Process
⍟ Flexible Repayment
⍟ Zero Foreclosure
⍟ 24 x 7 Online Payment Facility
⍟ No Hidden Charges
Are you searching for a car loan? If yes, then your wait is over as we at DialaBank brings you amazing offers for a car loan in Pune. We provide the lowest rate of interest for car loans in Pune, which you won’t find anywhere else.
We offer Instant Car Loan for both Self-employed and salaried people. We offer car loans on new as well as used cars. So, don’t wait and fill in your details.
A car loan is financial help provided by banks and NBFC’s to fulfil your dream of having your own car. They give vital subsidizing to buying a vehicle which can be on Ex-Showroom Price or On-Road Price of the vehicle. A car loan is a secured loan with easy repayment options. The loan amount is offered on Interest charges which vary from bank to bank. One can pay for the vehicle in easy instalments.
Car Loan Pune Eligibility Criteria
The car loan eligibility requirements are as follows in Pune:
| Salaried Individual |
Age – 21 years to 60 years
Net Monthly Income – Minimum ₹ 20,000 Employment Duration – 1-year minimum Income Eligibility – Based on Form 16 and salary slip |
| Self-Employed Individuals |
Age – 21-65 years of age
Minimum ITR – Rs.2 lakh Employment Duration – Minimum 3 years Income Eligibility – Depends on the latest Income Tax Returns |
| Self-Employed Non-Individuals (Company/Partnership) |
Minimum ITR – Rs. 2 lakh
Employment Duration – 3 years minimum The applicant has to present IT returns and audited financials of 2 years with Calculated Income. |
| Priority Customers |
At least 6-month vintage
Average Quarterly Balance – 2 quarters balance at a minimum of Rs.1 lakh Maximum Loan Amount – 3 times the Average Quarterly Balance of the last 2 Quarters |
Car Loan Pune EMI Calculator
Car Loan Pune Fees & Charges
| Charges | New Car Loan | Used Car Loan |
| Interest Rate | 7.35% per annum |
11.80% p.a. to 13.80% p.a. |
| Car loan Processing fees | 0.5% | 0.5% |
| Issuance of Duplicate Repayment Schedule Charges | Around Rs.500 | Around Rs.500 |
| Foreclosure Charges | 0.06 | 0.06 |
| Penal Interest | 2% PM | 2% PM |
| Car loan Part Payment charges | 6% of the amount | 6% of the amount |
| Cheque/Instrument Swap Charge | Around Rs.500 | Around Rs.500 |
| Documentation Charge | Around Rs. 500 | Around Rs. 500 |
| Issuance of Duplicate No Dues Certificate Charges | Around Rs. 500 | Around Rs. 500 |
| Registration Certification Collection Charge | Around Rs. 200 | Around Rs. 200 |
| Cheque Bounce/Instrument Return Charges | Around Rs. 500 | Around Rs. 500 |
| Issuance of Duplicate Statement Charges | Around Rs. 500 | Around Rs. 500 |
| Loan Cancellation/Re-booking Charges | Around Rs. 1000 | Around Rs. 1000 |
| Issuance of Credit Report | Around Rs. 50 | Around Rs. 50 |
Car Loan Pune Fees and Charges : Leading Banks – Mar 25 2025
| Bank | Processing Fee |
Prepayment Charges
|
| HDFC Bank Car Loan | (1999 - 4999) + Tax |
2%, Nil foreclosure charges after 24 months
|
| Axis Bank Car Loan | 1 % to 2.50% | Nil |
| Private Bank Car Loan | 0.25% to 1.50% |
2%, Nil foreclosure charges after 36 months
|
| SBI Car Loan | 500/- to 0.50% | Nil |
| Kotak Car Loan | 1% to 2% |
2.25% of fore closure amount if closed 1 month ahead of the tenure.
|
| IIFL Car Loan | Nil | Nil |
| Muthoot Car Loan | Nil | Nil |
| Manappauram Car Loan | Nil | Nil |
| PNB Car Loan | 0.70% to 1% | Nil |
| Canara Bank Car Loan | 0.01 | Nil |
| Andhra Bank Car Loan | Nil | Nil |
To check Car Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates
Car Loan Pune Documents Required
Documents required for car loan are as follows:
Salaried Individual
| Category |
Documents Required
|
| Identity Proof (Any 1) | Passport Voter ID Aadhar Card Driving License |
| Address Proof (Any 1) | Aadhar Card PAN Driving License Electricity Bill |
| Date of Birth Proof(Any 1) |
Passport
Birth Certificate High School Marksheet Driving Licence |
| Signature Proof(Any 1) |
PAN
Bankers Verification Passport |
| Income Proof |
Salary Slip and latest Form No.16
|
| Bank Statement |
Last 6 month Bank statement
|
| Employment Continuity Proof |
Job card by NREGA
ITR of Form no. 16 Salary Slip mentioned with joining date Letter of Appointment |
Self-Employed Individuals
| Category |
Documents Required
|
| Identity Proof (Any 1) | PAN Card Passport Voter ID Aadhar Card |
| Address Proof (Any 1) | PAN Card Voter ID Passport Electricity Bill |
| Date of Birth Proof (Any 1) | Birth Certificate Passport Driving Licence PAN |
| Signature Proof (Any 1) |
PAN
Bankers Verification Passport |
| Bank Statement |
Bank statement of last 6 months
|
| Employment Continuity Proof |
Latest ITRs
Shop & Establishment Act Certificate Shop & Establishment Act Certificate Sales Tax or VAT Certificate |
| Business Proof |
Registration Certificate
Telephone Bill/Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate |
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
| Category |
Documents Required
|
| Identity Proof (Any 1) | Driving Licence PAN Card Aadhar Card Passport |
| Address Proof (Any 1) |
Electricity Bill/Telephone Bill
Aadhar Card Driving License Voter ID |
| Income Proof |
Audited Balance Sheet
P&L Account ITR for the previous 2 years |
| Bank Statement | Last 6 month |
| Business Continuity Proof |
Company ITR of the last 2 years
Audited Balance Sheet TAX registration Certificate Current Account Statement |
| Additional documents |
Letter of Authority or PAN Card
|
2. Private Limited/Limited Companies
| Category |
Documents Required
|
| Identity Proof |
The latest copy of MOA and AOA
Copy of Incorporation |
| Address Proof (Any 1) |
SSI/MSME Registration Certificate
Telephone Bill Electricity Bill Shop & Establishment Act Certificate Sales Tax Certificate |
| Income Proof |
Audited Balance Sheet
P&L Account and ITR for the previous 2 years |
| Bank Statement | Previous 6 Months |
| Business Continuity Proof |
P&L account and
ITR of the Company of the past 2 years Audited Balance Sheet Shop & Establishment Act Certificate |
| Additional documents |
List of Shareholding partners and Directors
Board Resolution PAN Card Certificate of Commencement of Business for Ltd. Co. |
How to Get the Best Car Loan Interest Rates in Pune
The interest rates on vehicle loans offered by different lenders in Pune may vary, but they are all reasonable and competitive. If you want to get a car loan in Pune with the lowest interest rate, follow the steps below:
- Choose a shorter repayment term – Many car loan applicants believe that lengthier repayment terms are better because the monthly EMI (equated monthly instalment) is low. They don’t aware that lenders view lengthier payback terms as an indication of a borrower’s low repayment capabilities, so they charge higher interest rates. So, if you want to save money on your car loan, consider a shorter payments period.
- Research and compare the perks offered by different lenders – If you want to get a decent deal on an auto loan, you must first explore and compare the benefits offered by different lenders. This can help you figure out which lenders have the best interest rates and, as a result, which lender to choose.
- Maintain a modest debt-to-income ratio – The debt-to-income ratio is a measurement of how much of an applicant’s income goes toward loan repayment, and lenders take this into account when setting interest rates. If your debt-to-income ratio is lower, you have a better chance of getting a car loan with a lower interest rate.
- Maintain a good credit score — Lenders will be pleased to offer you a car loan with cheaper interest rates if you have a good credit score. Lenders consider a credit score of above 750 to be healthy. Many lenders may give auto loans to people with bad credit, but they will demand a higher interest rate. Check your credit scores at regular intervals with Dialabank “Free Credit Score” service to guarantee you have a good credit score. This will allow you to take remedial action to enhance your credit score if it is low, and it will allow you to approach lenders with confidence if your credit score is good.
How to Apply for Car Loan in Pune?
- Visit Dialabank.
- Go to the loan section and click on the auto loan link.
- The candidate will be coordinated to all subtleties of the individual credit where they can pick their favored city.
- Round out the structure and we will get in touch with you in a brief timeframe.
- For more data and direction, you can approach 9878981166.
Which Bank in Pune Offers the Best Car Loans?
Many big banks and NBFCs, including as HDFC, Private, and SBI, offer vehicle loans in Pune. The finest lender is one that can provide you with the loan amount you need at a reasonable interest rate and can distribute the funds as quickly as feasible. It is always a good idea to compare vehicle loans from many lenders before applying for one that meets all of your needs, such as interest rates.
Car Loan for Major Car Manufacturers in Pune
TABLE WILL APPEAR
Processing Fees & Prepayment Charges on Car Loan in Pune
| Category | Details |
| Processing Charges |
1999 - 4999 + Tax
|
| Prepayment |
No prepayment is allowed until 12 EMIs are paid
|
| Preclosure |
No foreclosure is allowed until 12 EMIs are paid
|
|
Prepayment Charges
|
13-24 months: 2% of loan principal outstanding
|
|
>36 months: Nil Charges
|
|
| Stamp Duty |
As per state laws
|
| Cheque Bounce Chgs |
₹ 550/chq + GST
|
| Floating Rate of Interest | Not Applicable |
| Overdue EMI Interest |
2% p.m.(on overdue amount)
|
| Amortisation Schedule Chgs | Rs 200 + GST |
CIBIL Score Required for Car Loan Pune
A CIBIL score of 750 and above is considered to be very good and it attracts a lower rate of interest for car loans in Pune. However, a CIBIL score between 650 to 750 could be considered if you have a good income but a slightly higher rate of interest will be offered in that case. If you have defaulted in your CIBIL score or the score is very low, then your application might be rejected.
Check your CIBIL score in your credit report for more information on the score.
Car Loan Pune Contact Number
Call us at 9878981166 to get on a car loan in Pune and exclusive offers on car loans.
Pre Calculated EMI Table for Car Loan Pune
| Rate | 5 Yrs | 4 Yrs | 3 Yrs |
| 10.50% | 2149 | 2560 | 3250 |
| 11.00% | 2174 | 2584 | 3273 |
| 11.50% | 2199 | 2608 | 3297 |
| 12.00% | 2224 | 2633 | 3321 |
| 12.50% | 2249 | 2658 | 3345 |
| 13.00% | 2275 | 2682 | 3369 |
| 13.50% | 2300 | 2707 | 3393 |
| 14.00% | 2326 | 2732 | 3417 |
| 14.50% | 2352 | 2757 | 3442 |
| 15.00% | 2378 | 2783 | 3466 |
About Pune
Pune is a rambling city in the western Indian territory of Maharashtra. It was before the base of the Peshwas (PMs) of the Maratha Empire, which endured from 1674 to 1818. It’s known for the great Aga Khan Palace, implicit 1892, and now a dedication to Mahatma Gandhi, whose remains are protected in the nursery. The eighth-century Pataleshwar Cave Temple is committed to the Hindu god Shiva.
FAQs about Car Loan Pune
✅ Can I get a loan to purchase a used car in Pune?
Yes, you have to use your credit history and previous arrangement with the prospective bank or any other lender in Pune to negotiate the interest rate on your car loan. Regularly paying your past loans/credit cards EMI with your prospective bank or any other lender will help you get a car loan with a lower interest rate.
✅ What is the typical tenure of a car loan in Pune?
A car loan can last anywhere between one to five years. The higher the EMI, the shorter your loan term, and the opposite is valid for longer car loan terms. Currently, only limited lenders are offering car loans on terms of up to seven years in Pune.
✅ Do I need a loan guarantor or co-borrower in Pune?
If you are unable to meet the lending institution’s eligibility standard, such as monthly salary, age, or credit score, a loan guarantor or co-borrower is required. You can even apply for a car loan of your own.
