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Rates & Charges
Overview Required Documents Rates & Charges EMI Calculator

Car Loan Interest Rates & Charges

Several factors come into play when determining the new car loan interest rates. These include the cost of funds, customer credentials, geography, asset, tenor, and discounts offered in the market. Your personal details like your credit profile, monthly income, and repayment capacity also influence the interest rates. 

Type of Fee Application Charges
Processing Fee

>=1.35% or 3500 whichever is higher
LTV

Upto 100% on road funding

At Tata Capital, we understand that the requirement of each customer is unique. This is why our experts ensure you get a transparent and suitable deal at low-interest rates. We offer the most competitive interest rates in the industry, starting at just 9.99%.

    Penal Charges

  • Default in payment of amounts due as per the Facility Documents

    3% per month on overdue amount

  • Dishonour of any cheque/
    payment instruments

    These are those charges that are levied in case of an EMI bounce per instance. In other words, these charges are levied when you miss a loan EMI payment due to inadequate funds in your bank account. At Tata Capital, you’ll be required to pay ₹ 600 per instrument per instance.

  • Mandate Rejection Service Charge

    Charges will be levied if a new mandate form is not registered within 30 days from the date of rejection of the previous mandate form by the borrower’s bank for any reason whatsoever. Tata Capital charges a nominal amount of ₹ 450 /-

Other Charges

Type of Fee Applicable Charges
Prepayment Penalty/ Foreclosure charges
  • 7% on Prepayment/ Foreclosure amount if the loan is being prepaid/ foreclosed within 6 months.
  • 6% on Prepayment/ Foreclosure amount if the loan is being prepaid/ foreclosed after 6 months but within 12 months.
  • 5% on Prepayment/ Foreclosure amount if the loan is being prepaid/foreclosed after 12 months.
Statement of Accounts
  • Customer portal – Nil
  • Branch walk in –₹250
Loan Cancellation Charge ₹ 6500/-
Instrument swap charges ₹ 550 each time PDC is swapped
Duplicate Repayment Schedule ₹ 550/-
Duplicate NOC ₹ 550/-
NOC for Interstate Transfer ₹ 1000/-
Stamp Duty As per actuals
Broken Period Interest At Actuals
NACH / PDC Charges ₹ 500/-
Foreclosure Report ₹ 550/-
Documentation charges ₹ 1,500/-
NOC for conversion of private to commercial registration ₹ 5600/-
Charges for Repossession of Vehicle ₹ 22000/-
PDD Charges ₹ 450/-


Note: GST, other government taxes and levies as applicable, will be payable on all fees and charges.

Car Loan EMI Calculator

Loan amount
₹
₹75,000 ₹35,00,000
Loan duration
1 Years 6 Years
Loan duration
12 Months 72 Months
Rate of interest
%
10% p.a 19% p.a

Monthly EMI

  • Total Amount Payable

    0*

  • Total Interest Payable

    0*

Total Amount Payable

Total Interest Payable

Apply Now

Car Loan Eligibility Criteria

We offer the best car loans with simple eligibility criteria and minimal documentation. We have different eligibility criteria for different types of applicants, including salaried and self-employed individuals.

Salaried Individuals :

  • The applicant must be aged between 21 and 60 years.

  • The applicant must have a minimum salary of Rs. 3,00,000 pa

  • The applicant must have a minimum work experience of one year.
     

Self-Employed :

  • The applicant must be aged between 21 and 65 years.

  • The applicant must be the proprietor of the business.

  • The applicant’s business must be at least one year old.

  • The applicant must have a minimum annual income of Rs. 3 lakhs.
     

Self-Employed (Others) :

  • The applicant must have a minimum annual income of Rs. 2 lakhs.

  • ABB must be at least 0.5x the loan EMI.

Documents Required for Car Loan

General documents required for New Car Loan are as follows:

  • Voter's ID/Passport/Driving License/Aadhaar Card
  • Income Proof – Copy of last three months' bank statements, Copy of latest 2 years Income Tax Returns (ITR)/audited Balance Sheet, and Profit and Loss Statements along with last three months' Bank Statements
  • Copy of Salary Slips for the last three months
  • Proof of Residence : A copy of your Voter ID / Passport / Driving License / Aadhaar Card
  • Copy of Invoice
  • Copy of signature along with proof

How To Apply for New Car Loan


With Tata Capital, you can apply for a car loan online or offline according to your convenience. All you have to do is visit our website or your nearest Tata Capital branch, fill out a car loan application form, and submit the required documents.
 

Below is the step-by-step process to get a car loan online with Tata Capital:
 

  • Online Application

    • Visit Tata Capital’s website and fill out a car loan application form by entering your basic details, such as name, contact number, monthly income, etc.
     

  • Document Submission

    • You can submit the required documents by uploading them to our website. The list of documents required may depend on your employment type and may include your PAN card, Aadhaar card, Bank Statements, etc.
     

  • Verification

    • Once we receive your car loan application and the required documents, we will initiate a verification process to check the authenticity of the documents submitted.
     

  • Approval

    • Once we find zero discrepancies in your documents, we will approve your car loan application instantly. You can check for the approval status of your loan application on our website.
     

  • Loan Disbursal

    • Upon approval, we will disburse the car loan amount directly to your bank account within a few working days. You can use this amount to pay for your dream car.

  • Pay Online

    • With Tata Capital, you can pay your car loan EMIs online in a hassle-free manner. All you have to do is visit our website or log into our mobile application and make the payment using a debit card, credit card, NetBanking, or UPI.
     

  • Drop a Cheque

    • If you are not comfortable making online payments, you can drop a cheque at your nearest Tata Capital branch to pay your car loan EMIs.

FAQs On New Car Loan Interest Rates

Will the interest rate on car loans be fixed or floating?

We offer car loans with fixed interest rates, ensuring consistent EMIs throughout the loan tenure. Check the website for specific details and terms.

Will I get a lower interest rate if I make a higher down payment?

While a higher down payment reduces your loan amount, Tata Capital's car loan interest rates depend on multiple factors

Does the type of car affect the car loan interest rate?

Yes, the car type (new or used) may influence the car loan interest rate at Tata Capital.

Will my car loan interest rate be lowered if I make a prepayment?

Prepayments reduce your loan balance but don’t change the interest rate. Tata Capital may charge a nominal prepayment fee.

How can I get a lower interest rate on a car loan?

To secure a lower interest rate, maintain a strong credit score, choose a suitable tenure, and meet Tata Capital's eligibility criteria.

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