Compare the cost
Review the indicative rate, APR or applicable charges, EMI and total repayment—not only the advertised rate.
Loan guide & eligibility
Loan Against Car in India – Check Eligibility, Interest Rate & EMI
Explore funding options against your existing car without selling the vehicle. Check indicative Loan Against Car rates, EMI, vehicle eligibility and documents before submitting your enquiry.
Indicative starting rate12.00%* p.a.
Indicative EMI₹1,765/lakh*
Maximum tenureUp to 5 years*
*Indicative information currently displayed on Credit Lelo. Actual rates, loan amount, EMI and tenure are lender-dependent and subject to eligibility and approval.
Benefits & features
Loan Against Car features currently available through our partner network
Availability varies by lender, applicant profile and product policy.
Key benefits
- ✓Instant ApprovalQuick loan approval process
- ✓No Income ProofMinimal documentation required
- ✓No Car InspectionHassle-free processing
- ✓PAN India ServiceAvailable across India
Product features
- ✓Funding up to 200% of Car ValueHigher loan eligibility
- ✓EMI Starting ₹1,765/LakhAffordable repayment options
- ✓Loan Against Used CarGet funds without selling your car
- ✓Flexible TenureRepayment up to 5 years
Loan Against Car eligibility
Basic eligibility factors
- ✓Age21 to 65 years
- ✓IncomeSalaried or Self-Employed
- ✓Vehicle AgeCar should generally be under 15 years old
- ✓OwnershipApplicant must own the vehicle
These are indicative criteria. Each lender performs its own underwriting and may apply additional conditions.
Loan Against Car documents
Documents you may need
- ↗KYCPAN, Aadhaar, Passport/Driving License
- ↗Vehicle RCRegistration Certificate
- ↗Insurance CopyValid car insurance document
- ↗Bank StatementLast 3 to 6 months
Document requirements can differ by lender and applicant profile.
Detailed loan guide
How a Loan Against Car works
Check your eligibility
Income, repayment capacity, credit profile and product-specific property or vehicle details can affect approval.
Read the final terms
Confirm tenure, security conditions, prepayment rules and the lender's Key Facts Statement before accepting an offer.
A Loan Against Car is a secured borrowing option where an eligible vehicle is used as security for the loan. Depending on the lender and product structure, the vehicle owner can continue using the car while repaying the loan, subject to the lender’s terms and security creation requirements.
Loan Against Car eligibility can depend on the applicant’s age, income or business profile, repayment capacity, credit history, vehicle make and model, registration year, ownership, insurance and current vehicle value. Final funding is determined by the lender after assessment.
When comparing a loan on car or car refinance offer, review the interest rate, EMI, repayment tenure, processing fee, valuation methodology, foreclosure conditions and Annual Percentage Rate where applicable. Do not rely only on the maximum funding figure shown in an advertisement.
Loan Against CarLoan On CarLoan Against VehicleCar RefinanceLoan Against Used CarLoan Against Car Eligibility
Borrower reference: the Reserve Bank of India requires covered regulated entities to provide a Key Facts Statement with important loan terms and the all-in cost. RBI reference. Credit-score reference: TransUnion CIBIL.
Indicative lender information
Compare displayed Loan Against Car rate information
Rates and fees can change. Confirm the current offer directly from the lender's Key Facts Statement or sanction communication.
HDFC Bank
12%
Processing Fee Applicable
ICICI Bank
12%
Processing Fee Applicable
Axis Bank
12%
Processing Fee Applicable
The above information is drawn from the product data currently configured on this website and should be treated as indicative, not a live lender quote.
Loan Against Car EMI calculator
Estimate the monthly EMI for your Loan Against Car
This calculator is for illustration only and does not include all charges that may form part of the loan's APR.
Loan Against Car FAQs
Frequently asked questions
Yes, eligible applicants can get a Loan Against Car with minimal documentation and no income proof requirement.
No, many lenders provide Loan Against Car without physical inspection.
You may get funding up to 200% of your car value depending on lender eligibility.
In many Loan Against Car structures, the borrower continues to use the vehicle while the lender creates the required security or hypothecation. The exact arrangement depends on the lender and loan terms.
The lender may consider the car’s current value, make and model, age, ownership, insurance, applicant income, repayment capacity, credit profile and internal loan-to-value policy.
Compare the rate, EMI, tenure, processing and valuation charges, APR where applicable, foreclosure terms, security conditions and the final amount offered by the lender.
Reference: TransUnion CIBIL – Consumer Credit Risk Assessment
Important: Credit Lelo is a loan aggregation and enquiry facilitation platform, not a bank or NBFC. Product information on this page is indicative. Final eligibility, loan amount, interest rate, APR, processing fee, security requirements, tenure, approval and disbursal are determined by the relevant lender after assessment.