Car Loan Rates EMI 2024

Car Loan Ahmedabad

Car Loan Ahmedabad

Last Updated : Jan. 11, 2019, 6:05 p.m.

About Ahmedabad

Ahmedabad is the largest city and former capital of Gujarat, India. The city is the second largest producer of cotton in India. Ahmedabad is located on the banks of Sabarmati River and has been selected as one of the hundred Indian to be developed as a smart city under PM Modi’s flagship Smart Cities Mission. The city is one of the fastest growing cities in terms of business and having an important role in Indian economy. It is hence a busy city where a personal car can surely ease the pain of traveling.

About Car Loan

A car loan is the best way to make the dream come true of owning a car. The loan can be availed by any salaried or self-employed individual who has a good source of economy and wants to fulfill their dream of owning a car. So, give yourself the chance to drive a car of your own by just making small down payment. You can choose from wide range of options as per your eligibility and repayment capacity. So, apply for a car loan in Ahmedabad and surprise your family! The lowest rate available for a car loan in Ahmedabad is 8.70% p.a.

Car Loan Ahmedabad in a nutshell

Interest Rate7.45% - 14.01%
Processing Fee₹500-₹5500; 0.25%-0.50% of the loan amount
Pre-payment/Part-payment ChargesPre-payment charges- 5% of the principal outstanding+service tax as applicable

Part-payment charges- 5% of the part payment amount+service tax as applicable
Tenure/Repayment1-7 years
Lowest EMI₹1,594-₹2,015(per lakh)

Eligibility Criteria required for Car loan in Ahmedabad

ParticularsSalaried IndividualsSelf-Employed IndividualPartnership FirmPrivate/Public Ltd. Company (in existence for at least 3 years)
AgeThe applicant should be above 18 years at the time of application, and up to 60 years of age at the time of maturity of the loanAny proprietor, partner, professional or director above 18 years but below 65 years at the time of the loan maturity.
IncomeMinimum gross annual income of at least ₹2,50,000/-Minimum gross annual income of at least ₹2,50,000/-Firm should have a minimum turnover of ₹2.50 lakhsMinimum turnover of ₹2.50 lakhs
Job StabilityThe total employment stability should be for at least 2 years and current employment stability of minimum 1 yearBusiness stability should be for at least 2 years

Documentation Required for Car Loan

  • Proof of Identity: Passport copy, PAN Card, Voter ID card, driving license( Laminated, Recent, Legible)

  • Proof of Address: Ration card/Driving license/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy.

  • Proof of Income: Latest salary slip with form 16/Audited balance sheet, Profit & Loss Account for latest two years/a minimum turnover of ₹4,50,000 per annum/Audited balance sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company/Latest ITR

  • Bank Statement: Last 6 months

Top Banks Car Loan Interest Rate and Address

Banks NameMain Branch AddressCar Loan Interest Rates (p.a.)
State Bank Of IndiaSBI Building, Bhadra, Lal Darwaja, Ahmedabad, Gujarat 3800017.20% - 7.90%
HDFC BankAstral Tower, Navrangpura Cross Road, Mithakhali, Navrangpura, Ahmedabad, Gujarat 3800097.95% - 8.30%
ICICI BankOpp. State Bank of India, Surendra Mangaldas Rd, L Colony, Ambawadi, Ahmedabad, Gujarat 3800067.90% Onwards
Axis Bank3RD Eye One, 2ND FLOOR, Panchvati Circle, C G Road, Ahmedabad, Gujarat 380007.45% - 14.50%
Punjab National BankChinubhai Building, Revdi Bazar, Ambika Center, Relief Road, Sakar Bazar, Kalupur, Ahmedabad, Gujarat 3800026.50% Onwards
Bank of IndiaGandhi Road, Dhalgarwad, Bhadra, Ahmedabad, Gujarat 3800016.85% onwards
Bank of BarodaGandhi Rd, Tankshal, Khadia, Ahmedabad, Gujarat 3800017% onwards
Central Bank of IndiaDhiraj Avenue, Opposite Chhadawad Police Station, Ambawadi Bazar, Surendra Mangaldas Road, Ambavadi, Ahmedabad, Gujarat 3800067.25% - 7.70%
Bank of MaharashtraNear Dinesh Hall, Ashram Road, Embassy Market, Shreyas Colony, Navrangpura, Ahmedabad, Gujarat 3800096.40% onwards
IDBI BankLal Bunglow, Off C.G. road, Ahmedabad7.50% Onwards

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