Pune City

1. Basic car loan details

Planning to buy a car soon? New or used car a car loan in Pune is all you need. Let bank buy your car and you go driving. With a car loan, you banks help you buy the car by paying for it (usually 80% of the on-road price). You just have to repay the bank during the loan tenure at the applicable interest rate (starts from 9.35%) on the car loans.

Applying for a car loan is a lot hassle-free at our Paisabazaar.com website:

  • Log in to our Car Loan page
  • Calculate your interest rate applicable with our Car Loan interest Rate Calculator
  • Enter your required details in the loan application form
  • Choose the best car loan scheme based on your requirements
  • Click ‘Apply’

2. Reasons to apply for car loan

A Pune car loan provides the financial support to help you buy the car of your dreams. Be it an old car of a higher model, or a brand new car, a car loan broadens the horizon by helping you buy a car. Different banks have different interest rates; you can check the rates by applying for a car loan in Pune. The loan tenure has an impact over the monthly interest rates; it is wiser to choose the longer loan tenure.


3. Things that you should know when applying

A car loan in Pune has one golden rule, i.e. timely payments of the EMIs. As we know, a car loan is a secured loan, therefore if you fail to repay on time, then the bank can seize your car and put it for auction to recover the loan. However, this might not be a case with you if you have a planned way of spending money. All you have to do is compare the plans using our free online tools – Car loan Interest Rate Calculator and choose a car loan at lowest interest rate. This will help you to plan your finances better.

A good credit history also has a vital role to play. A higher credit score will help you avail car loan @ lower interest rates. A car loan in Pune is the best solution if you are willing to buy a car.

4. Interest Rates in Pune

The Interest Rates for a car loan in Pune starts from 9.35%

  • Union Bank of India: Interest Rate is 9.90%
  • State Bank of Bikaner and Jaipur: Interest Rate starts from 10.10%
  • Indian Bank: Interest Rate is 9.95% onwards
  • Canara Bank: 9.80% onwards

Let’s have a look at the interest rates and the charges of the car loan schemes in Pune:

1. Allahabad Bank: 

  • Interest rate is 9.80%
  • No guarantor required
  • Pre-closure fee is 2.28%

2. Bank of Maharashtra:

  • Interest rate is 10.10%
  • Maximum loan tenure is 7 years
  • No Processing charges

3. Axis Bank:

  • Interest rate is 9.50%
  • Minimum loan amount is Rs 1L
  • Pre-closure charges 10% of the outstanding loan amount
  • Maximum loan tenure is 7 years


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