Car Loan Real time Approval is one of the largest loan service portal and we have tie ups with the leading banks & financial institutions providing the car loans.


The car loan is the great way to drive your dream car without having to make the complete payment upfront. Some other features which make car loan tempting are:

• Flexible contract terms & comfortable tenure of loan i.e. up to the 7 years.
• Competitive & attractive interest rates for car finance.
• The tax deduction can be applicable if a vehicle is used for the business purposes
• Almost everyone with the Permanent Income may apply for the car loan/ auto loan.
• Some banks offer up to the 100 percent of car finance on the ex showroom price & normally up to the 85 percent of car finance on the ex showroom price is available.
• Very less processing fees & prepayment charges.

Interest Rates

To help its customers get the best interest rates on Car loans Dealsofloan has consolidated all the information regarding latest rate of interests at one place. Please keep visiting this section to get updated.

Information for comparison of rate of interests and loan amount

Banks/Finance company Rate of Interest for New Car Loan Rate of Interest Used Car Loan Processing Fee (RS)
HDFC BANK 9.25% – 11% 16% -19 % 2950-3950
ICICI BANK 9.25% -10 % 12.50% -13.50% 2500-5000
Kotak Mahindra Bank 10%-12% 16% – 19% 3000-5000
Axis Bank 9.5%-10.5% 16.5%-18% 3500

Eligibility Criteria for Car Loan

Eligibility for car loans differ based on a various criteria set by the lender considering the borrower’s profile. Some of them are as follows

Minimum Age

Minimum age of Applicant : 21 years

Net Income Requirement

Upwards Rs.10,000 p.m

Employment-Type Stability

For Salaried or Self-employed 3 years total experience or years in business or profession, 2 years in the current post or business or profession

Car Type

Old vs. New : affect the loan amount

Car Value

Affect the loan amount

Car Model

Approved model

Residence Area Stability

Urban or Semi urban or Rural 1 year stay at the current residence

Check Your eligibility for loans.


How much loan you are eligible for?

Frequently Ask Questions

All the banks will have different loan products and according to policy interest rates will vary. Most of banks offer featured Personal Loans with low Interest rates. It also vary depending on each individual’s eligibility criteria. Generally interest rates start at 14% to 28% in yearly reducing rates.

Customers can avail personal loan as much as his repaying capacity. Normally all of the banks has some specific loan calculation parameters. As per the parameters, banks calculate one’s loans eligibility. Generally in India banks are trending on EMI of loan. Normally it can go beyond 60% of net take home salary. The personal loan amount you are eligible for is also dependent on some other important factors like the bank wise company category listing for the same bankers and the banking credit history in last few years.

Yes, if you require more money from your individual loan eligibility than you have to add co-applicant for enhancement your loan eligibility. But as per the banking laws, for any of unsecured loans the co-applicant can be only be your spouse. It is the most preferable way for all customers. This can help you increase the loan repaying capacity as well the enhance loan amount which you are eligible for as the addition of the income of the co-applicant is also taken into consideration.

In India any of customer who has taken any of loans or credit cards from any of reputed financial institute those all customers has provided a unique no and it is called control no. introduced by CIBIL. It is basically a record of your past repayment history of all financial transactions done in past from any of banks of financial company. Also, the score provided by Credit Bureau of India Limited (CIBIL) is the body or institution which provides the credit score of every customer, where all detailed data from all the banks on existing loans and their loans repayment tenure and paying patterns of their customers are accumulated. All the banks do the credit check by pulling the bureau score from CIBIL before approving your loan. is one of the best portal where you can compare quotes from multiple banks in a single platform with instant access to the best quotes from various loan providers across India.

Normally bank lend unsecured loan for a limited period time frame to all customers called ad loan tenure. Generally any of secured or unsecured loan tenure can be between 1 to 15 years. eg. Maximum loan provided in personal loan is for 5 years. In case you want to clear the loan payment earlier than the agreed time frame of desired loans, the bank levies a prepayment penalty charge. Any of the bank that are bound by RBI, take charge on loans up to 4% to 6 % of the exact principle outstanding loan amount. It can vary as per the loans features according to the bank and the credit profile of the borrower at the time on pre closure. So whether the customer wants to make profit on interest or want to save interest amount, customer should always compare prepayments charges while getting loan. This is most important factor to keep in mind while comparing loans.

A fixed interest rate remains constant throughout the loan tenure regardless of the market conditions whereas a floating interest rate can decrease or increase depending on market fluctuations. For instance, it increases when RBI hikes up short term interest rates. Banks usually quote the floating rate loans as their index rate (prime lending rate) plus or minus x%. Banks usually increase or decrease their prime lending rate when the RBI increases or decreases short term interest rates.

Dealsofloan services come to you totally free of charge.

Deals of Loan ensure you that we will never share your data with any third party other than the financial institution that you decide to apply to from the financial products. Our dedication and commitment level is very strong and our company’s technology practices ensure a highly secured environment for all your data.

EMI Calculator

Loan Amount is 100000
No. of Month is 12
Rate of Interest [ROI] is 10
Monthly EMI

Total Interest

Payable Amount

Interest Percentage

Get Your Free Credit Report

Your credit report is one of the most important factors when it comes to deciding your eligibility for a particular loan.

We provide credit reports for free so you can understand the health of your credit history.

Get Credit Report