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About Car Loan

A car loan is a great way to drive your dream car without making the complete payment upfront. You don’t need to wait for some more months or years to buy your dream car as you can take a Car loan in Jaipur to meet your fund requirement. Having a four-wheeler is everybody’s dream, don’t remain your dream car in your dreams only. Get a Car loan online in Jaipur, from our best car loan agency in Jaipur at a low interest rate. You can compare or calculate car loan from car loan calculator.

With interest rates as low as 7.25% p.a. and repayment tenure of up to 8 years, you can find the most suitable vehicle loan for your needs at Munafawala. You can take the loan for 90% to 100% of the on-road price of the car.

It is vital that you maintain a good credit score when you apply for a Car loan in Jaipur. Apart from the loan getting approved quicker, lenders will offer low interest rates if your credit score is good. To Avail car loan in Jaipur, their is some eligibilty ceriteria like no previuous loan dues, good credit score, a proper flow of income and many more. Which you can discuss with our car loan agents in Jaipur.

When it comes to a big purchase – for example a car, we often resort to loans for the financing of the same. Both personal loans and car loans are two of the biggest and most common financing options that are availed by consumers.

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Achieve all your goals and aspirations; with the right kind of help, exactly when you need it.

New Car Loan

Munafawala-Loan Company offers new car loan at fair interest rates and adjustable repayment terms.Fast sanction, personalised service and absolute transparency in new car loans.

New Car Loan

Munafawala-Loan Company offers new car loan at fair interest rates and adjustable repayment terms.Fast sanction, personalised service and absolute transparency in new car loans.

Loan Against Car

With no income documents required, getting a loan couldn’t get any easier. Munafawala-Loan Company offers you car loan at basic interest rates and flexible EMI for repayment.

Other Loan

Munafawala-Loan Company also grant different loans like Home loan, Personal loan and Educate loan at fair rate of interest and flexible EMI. For more detail you can check our loan products.

Get financing for whatever you need now

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Features of Car Loan

All loans are not created equal, personal loan has become a great option for people to use.

Cash Loan Facility

It helps you purchase a car even if you don’t have all the money for it right now.

Special Preapproved Loan

A pre-approved Car Loan turns this entire process around – here, you first get the loan sanction in your hand and then go about the process of buying a car. Isn’t that great?

No Verifications

When you avail of a car loan without proof of income, you need to pay a substantial amount as a down payment for your car.

150% Funding on Loan

You can get a top-up loan on your existing car loan for up to 150% of its value if you maintain a clear payment record for at least 9 months.

Compare Best Car Loan Interest Rates in India for 2021

Bank NameCar Loan Interest RatesProcessing Fee
Bank of Baroda Car Loan7.25% p.a. onwards0.50% of loan amount up to a maximum of Rs.10,000 plus GST
Canara Bank Car Loan7.30% p.a. onwards0.25% of the loan amount, subject to a minimum of Rs.1,000 and a maximum of Rs.5,000
Axis Bank Car Loan8.70% p.a. onwardsMinimum of Rs.3,500 and maximum of Rs.5,500
Federal Bank Car Loan8.50% p.a. onwardsContact the bank
SBI Car Loan7.70% p.a. onwardsRs.1,000 plus GST onwards
ICICI Bank Car Loan7.90% p.a. onwards0.5% of the loan amount
HDFC Bank Car Loan7.95% p.a. onwards (Rack interest rate)0.4% of the loan amount

Car Loan Interest Rates

Car Loan Details
Interest Rate (Monthly reducing balance)7.25% onwards
Processing FeesStarts from 0.230% of the loan amount
Loan Tenure1 year to 8 years
Pre-closure ChargesVaries with bank
Guarantor RequirementVaries with bank

Listed below are some of the best car loan products you can opt for in 2021:

Key USPBankFeatures
Loans for Luxury CarsHDFC
  • Effective interest rate is 7.95%
  • Tenure is up to 84 months
  • Maximum loan amount is up to Rs.3 crore
  • 100% financing of on-road price for select models
100% On-Road FinancingICICI Bank
  • Effective interest rate starting 7.90% onwards
  • Tenure is up to 84 months
  • The loan amount that can be availed will depend on the model, cost, customer profile, etc.
  • Pre-qualified and pre-approved customers can avail the offer
Designed for professionals and agriculturalists with no Income ProofState Bank of India
  • Effective interest rate is 7.70% onwards
  • Tenure is up to 74 months
  • Up to 90% of the on-road price may be financed
  • Loan is provided for professionals and agriculturists
Small LoansAxis Bank
  • Effective interest rate is 8.70%
  • Tenure is up to 96 months
  • Up to 100% of the on-road price may be provided as a loan
  • You can avail a loan of Rs.1 lakh
Free Personal Accident InsuranceFederal Bank
  • Effective interest rates start from 8.50%
  • Tenure is up to 84 months
  • No income documents need to be provided
  • Up to 100% of the ex-showroom price can be availed
Low-Interest Rates for Used Cards and New CarsCanara Bank
  • Effective interest rate starts from 7.30%
  • Tenure is up to 84 months
  • Up to 90% of the on-road price may be provided
  • Lower interest rates are provided for women

Car Loan - Eligibility

Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a personal loan.


Maximum age of applicant at loan maturity: 60 years


Minimum Net Monthly Income: Rs 15,000

Credit Rating

Applicant should have the bank specified credit score.

Frequently Ask Questions

If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.

The maximum amount of loan that you can avail to buy a car will vary from lender to lender. Most banks offer financing up to 90% of the on-road price of the car but there are some banks such as HDFC Bank, ICICI Bank, etc., that offers financing for up to 100% of the car’s on-road price.

Yes, you can prepay the entire car loan and save on vital interest payments in the future. However, most banks will allow the pre-payment option after you have chalked off 6 months on your loan tenure. Plus, you will be expected to pay a small fee as pre-payment penalty that will be dependent on the leftover loan amount.

Unless otherwise specified, almost all small to medium sized cars, Commercial Vehicle Loan, Sports Utility Vehicles (SUV) and Multi Utility Vehicles (MUV) come under the purview of car loans available in India. However, as mentioned, refer to the loan brochure for exceptions to this rule.

Almost all car loan products available in India are secured loans, with the procured vehicle itself acting as the customary security. Most lenders in India will not insist upon any guarantors; however, if your annual income does not match up to the expected requirement, then you may be expected to sign-up a co-applicant and/or guarantor.

Repayment tenures usually range from 12 months to 84 months (1-7 years).

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Now apply for a Car Loan online, All you need to do is provide your details below application form.