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7 Best Car Loan in India 2025

Loan

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June 24, 2020

Best Car Loan in India – In good old days car was considered as a luxuries item. However, today car has become necessity even for the middle-class families. Not having a car restricts you and your family in multiple ways in your social & professional life.

Thanks to the car loan. Now you can fulfill your dream of buying car easily. Car Loan is available for new cars well as used car. You just need to provide income proof to avail a car loan. There are multiple financial institution and banks in India that provides car loan facility. Among the range of financial institutions and banks, here is a list of 7 Best Car Loan in India 2025 and How to select best car loan in India.

best car loan

How to select Best Car Loan in India?

In order to select best car loan in India you need to consider following factors.

Interest Rate – Interest rate is one of the key differentiation while selecting a car loan. It is available with fixed and floating rate. It is always advisable to go for floating rate car loan with reducing balance. The floating rate interest varies from 8.5% to 11.50%.

Processing Fees and Time – The processing fees and time for processing car loan is another important factor of consideration. The processing charge is around 0.5% of the loan amount. However, few bank charges higher amount up to Rs.10000.

Loan Amount – You also need to consider maximum loan amount that is offered by bank. Most of the bank ask to make down payment of 5% to 10%. This amount is also called as margin. Some banks provide 100% finance of the ex-show room price. You need to pay additional amount such as duty, RTO passing charges and insurance amount.

Loan Tenure – The maximum loan tenure is 7 years. Your EMI will be low if you opt for longer period loan but you need to pay higher interest amount.

Prepayment or Foreclosure charges – Prepayment charges applicable on car loan varies from bank to bank. The charges are in range of 5-8%. You need to check prepayment charges applicable on car loan. Additionally, also look at the foreclosure charges.

Special Features – Many bank offers special features on these types of loan. You can check available features before taking a loan.

Also Read – Car Insurance Policy – Unusual Things you should know

7 Best Car Loan in India 2025

#1 SBI Car Loan

SBI is one of the largest public sector bank offering car loan. SBI provide finance up to 85% of the on road price. One of the major advantage of SBI car loan is processing charge is NIL. In addition to that SBI does not impose any pre-closure charges. Key features of SBI car loan are given below.

Eligibility	Anyone from Age 21 years to 60 years
Interest rate	8.65% to 9.35% floating
Pre-closure charges	NIL
Loan Term	7 years
Processing Fees	NIL
Maximum Loan amount	Up to 85% of the on road price

#2 HDFC Bank Car Loan

HDFC Bank is one of the largest private sector bank in India. HDFC offers range of services to customer including car loan. The car loan offered by HDFC is with attractive interest rate and minimum documentation. The loan approval process is very fast. Key features associated with HDFC Bank Car Loan are given below.

Eligibility	Anyone from Age 21 years to 60 years
Interest rate	8.01 to 11.50% floating
Pre-closure charges	NIL after 2 years
Loan Term	7 years
Documentation Charges	Rs.600
Maximum Loan amount	Up to 100% of the ex-show room price

#3 Axis Bank Car Loan

Axis Bank Car Loan is next in the list of best car loan. Axis bank offers car loan at the higher rate compared to other bank. However, they offer faster loan processing and quick disbursement. They provide finance up to 95% of the ex-show room price. Key features of Axis Bank Car Loan are given below.

Eligibility	Age 21 years to 70 years at loan maturity
Interest rate	From 9.20% to 13.85%
Pre-closure charges	5% of the principal outstanding
Loan Term	7 years
Processing fees	Rs.3500 to Rs.12000
Documentation Charges	Rs.700
Maximum Loan amount	Up to 95% of the ex-show room price

#4 ICICI Bank Car Loan

ICICI Bank is leading private sector bank. ICICI Bank offers car loan for new as well as pre-owned cars. The loan repayment term is flexible. The loan amount is up to 100% of the ex-show room price. Few important features of ICICI Bank Car Loan are given below.

Eligibility	Age 23 years to 70 years
Interest rate	10% onwards
Pre-closure charges	5% of the principal outstanding
Loan Term	8 years
Processing fees	Rs.999 to Rs.8500
Documentation Charges	Rs.650
Maximum Loan amount	Up to 95% of the ex-show room price

#5 PNB Bank Car Loan

PNB provides car loan for all types of vehicles such as car, jeep, van, multi utility and sport utility vehicle. Car Loans from PNB comes with one of the lowest interest rate in the industry. The loan tenure is also flexible. Key features of PNB Bank Car Loan are given below.

Eligibility	Individual with minimum monthly income of Rs.20000
Interest rate	Variable based on credit score
Pre-closure charges	NIL
Loan Term	7 years
Processing fees	1% of the loan amount
Documentation Charges	1% of the loan amount
Maximum Loan amount	Up to 85% of the ex-show room price

#6 Bank of Baroda Car Loan

Bank of Baroda offers loan for all types of vehicle including luxury cars. Bank offers loan up to 1 Cr including NRI. No prepayment or foreclosure charges applicable on Bank of Baroda Car Loan. Key features of Bank of Baroda Car Loan are given below.

Eligibility	Age 21 years to 70 years
Interest rate	Starts from 8.75% to 12.05%
Pre-closure charges	NIL
Loan Term	7 years
Processing fees	Rs.500
Maximum Loan amount	Up to 85% of the on road price

#7 Central Bank of India Car Loan

Central Bank of India is public sector bank. It is one of the oldest commercial banks. This bank offers loan up to 75 Lakh. Car Loan from Central bank is available at very low interest rate. Key features of Central Bank of India car loan is given below.

Eligibility	Age 18 years to 65 years
Interest rate	Starting from 8.7% to 10.15%
Loan Term	7 years
Maximum Loan amount	Up to 90% of the on road price

Over to you

The list given above is prepared based on the information available online. Use the list given above as a reference while you are opting for car loan. Make sure to compare all available options while opting for car loan.

5 Best Robo Advisors in India – Review

Investment

Shitanshu Kapadia

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June 22, 2020

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Robo Advisors are automated programs that provide financial guidance and investment advice online without human intervention. It uses a fixed rule set for offering investment advice. Robo Advisors are generally suitable for “Do it yourself Investors” or new investor who don’t want to spend money for availing investment advice. To use this platform you need to input various parameters such as investment amount, duration and other details.

best robo advisors in India

How Robo Advisor work?

Robo Advisor works on a pre-defined algorithm. It gives output on a screen based on input and predefined logic. The logic is designed by humans. The algorithm and logic are modified from time to time based on market condition and performance.

Every advisor platform is different, however, they generally start with asking questions about goals, timeline, and risk. Based on answers given by advisor platform display recommended investment. Once you invest your money, it monitors your investment portfolio.

The difference between the traditional financial advisor and Robo advisor are given below.

Traditional Advisor	Robo Advisor
Expensive	Low Cost or Free
Manual Process	Automatic Process
Slow in Response	Nearly Realtime
Individual Skills Matter	Algorithm & logic matter
Less Risky	Risky in nature

From the above comparison, one can easily say that advisor platforms are more beneficial. However, investments made via advisor route is risky.

Benefits of Robo Advisors

Low Fees – The first benefit of the robo advisor is cost. It is a low-cost solution and cheap compared to the traditional advisor.

Easy Access – It is very easy to access advisor platform. It is online and accessible anytime anywhere.

Low or Minimum Investment requirement – One can use this facility online without any cap on low or minimum investment requirement.

Unbiased – These type of advisors are not biased by any specific products.

Human Error – You can eliminate human errors by using an advisor platform.

Self-check – You can change various input by self and check the impact on portfolio before investing money.

Who should use Robo Advisor?

Robo advisors are recommended under the following situation.

You are Tech Savvy and you know how to use online tools and support.
You are “DIY” (do it yourself investors) and comfortable to let someone else do all your investing.
Your risk-taking capacity is high and you don’t need direct contact with the financial advisor.
You understand the impact and fees associated with online advisor platforms.
You don’t have a budget to meet the minimum requirement of a traditional advisor.

Best Robo Advisor in India

Funds India

Funds India is one of the best robo advisor platform in India. The name of robo advisor by Funds India is Money Mitr. Money Mitr offers high-quality, personalized investment advice. You can use Money Mitr robo advisor for various investment goals such as building wealth, retirement, children education etc.

After login you need to enter investment amount, period and risk level. This platform automatically designs your mutual fund portfolio. It is claimed to be free platform.

Key Features of Money Mitr

Design your investment portfolio and fine tuning
Suggestion of best mutual funds for investment
Tax saving investment option suggestion
Automatically track and review the progress
Mobile application available anytime anywhere

Scripbox

Scripbox is next in the list of best robo advisors. Scripbox platform is easy to operate. It does not require any login. You need to set right financial goal and provide various inputs. It provides you option for SIP, wealth building, tax saving and achieving financial goals.

The scirpbox is also available on mobile android platform. It is free to use simple and fast platform. You can rely on the investment advice offer through this platform.

Key Features of Scripbox

Investment option suggestion based on goals
Automatic Investment with a click of button
Tax Optimization tools
Completely auto pilot advisory
Available on Mobile platform

5Paisa

5Paisa offers one of the best robo advisor platform. 5Paisa advisor is also known as Auto Investor. It is very easy to use 5Paisa Auto Investor. You just need to enter your financial goal and profile detail. It will be used to know your risk profile. Once you input the detail you will get recommendation on the screen.

Once recommendation is given it will prompt you to open online account. If you don’t have 5Paisa account, you will not able to see recommendation.

Key Features of Auto Investor

Smart Profiler for recommendation of funds
Wide Range of investment products
Create track and rebalance your investments
Portfolio Management

Goalwise

Goalwise is goal based direct mutual fund investing platform. It is completely free zero commission platform. It is data driven unbiased mutual fund selection platform that offers higher returns. You need to sign up before using this platform.

You will get mutual fund recommendation, report card, end to end goal based investing and live chat option under this platform.

Key Features of Goalwise

On track off track recommendations
Invest in direct plan without commission
Portfolio rebalancing
Tax Optimization

Arthayantra

Arthayantra is one of the oldest financial advisor platform in India. Arthayantra assess your current status, get input about your goals and try to assess risk profile. You will get financial advice based on inputs. It will also offer custom built portfolio for your investments. You can also use this platform for making investment. It is paid platform and somewhat complex platform compared to others.

Key Features of Arthayantra

Advice on Goal, Risk, Insurance and Tax
Customized Mutual Fund Portfolio & Review
Interaction with financial advisors
Financial health score
Status tracking of goals

I hope above list of best robo advisor will help you in making a right selection. In addition to above advisor list you can take a look at other popular online advisors such as BigDecisions, ZIPSIP, Kuvera etc.

Over to you

If you are aware of all investment products, robo-advisors are for you. Robo Advisors helps you to take quick, easy and cost effective decision for your finance.

However, robo advisor are suggested only if you want to start with SIP with small amount.

Robo advisor are algorithm based and works on human inputs. A wrong input leads to bad investment decision. I would recommend to interact with human financial advisor before taking any investment decision.

Disclosure – I have tried to get advice from most of the above platforms. However, I have not invested based on the advice offered by them.

Best Personal Loans in India 2025

Personal Loan

Shitanshu Kapadia

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June 21, 2020

2

Best Personal Loans – Personal loan is any purpose loan that can be taken anytime. However, personal loan is bad for your personal finance. I won’t recommend anyone to take a personal loan. It should be last option in the list. The basic reason behind not recommending personal loan is higher interest rate. A personal loan comes with interest rate of 11-18% and sometimes above that also. You should take personal loan only in case financial crisis or an emergency situation.

If by any chance you decide to go ahead for personal loan, you should select personal loan with lowest interest rate and pre-closure charges. You can take personal loan from bank or from private company. Here is list of Best Personal Loans in India.

best personal loans india

Best Personal Loans in India 2022

#1 State Bank of India Personal Loans

State Bank of India is most trusted name in India. State Bank of India Personal Loans are offered in different flavors

SBI Xpress Credit Personal Loan

SBI Xpress Credit personal loan is loan offered to salaried employees having salary accounts with SBI. You can get this loan with minimum documentation.

SBI Pension Loan

SBI pension loan is special loan for the pensioner. This loan is given only if pension order is maintained with SBI bank.

SBI Pre Approved personal loan

SBI also offered pre-approved personal loan to the customer where monthly average balance is beyond certain threshold. This loan is offered via mobile app.

SBI Xpress Elite Personal Loan

SBI has designed a specialized Personal Loan tailored for high-income salaried customers earning Rs. 1 lakh or more per month. Whether you’re planning a wedding, a vacation, dealing with an unexpected emergency, or making a planned purchase, enjoy swift approval and disbursement with minimal documentation through SBI Xpress Elite Personal Loan.

Also Read – 10 Best Instant Personal Loan Apps for Quick Cash Requirement

Loan Details

Maximum Loan Amount – 35 Lakh

Minimum Monthly Income – Rs.15000

Processing Fee – Up to 1.5% of the loan amount

Prepayment Charge – 3% of prepayment amount

Loan Tenure – 6 Years

Interest Rate – 11.3% to 15.55%

Eligibility

SBI Xpress Credit	SBI Pre Approved	SBI Pension Loan
Salary Account with SBI with monthly income above Rs.15000	Salary or Pension Account with SBI	Pension payment order with SBI
EMI/NMI ratio less than 50%	Pre-selected customer only	The age should be below 76 years

Documents Required

Online Application at SBI website
PAN Card
ID Proof and Address Proof
Latest Salary slip, Salary Account statement of past 6 months

#2 HDFC Bank Personal Loan

HDFC Bank personal loan is given to a salaried individual for public sector undertaking including central and state government employees. HDFC Bank allows you to get a loan up to 40 Lakh without any collateral.

HDFC Bank Personal Loan Details

Maximum Loan Amount – 40 Lakh

Minimum Monthly Income – Rs.15000 to Rs.20000

Processing Fee – Up to 2.5% of the loan amount

Prepayment Charge – 2 – 4% of principal amount

Loan Tenure – 5 Years

Interest Rate – 10.5 -24%

Eligibility

Individual with 21 to 60 years of age.
Doing job for at least 2 years with a minimum 1 year with current employer
Minimum net monthly income Rs.15000

Documents Required

ID Proof
Address Proof
Bank Statement of past 3 months
Two latest salary slips

#3 Axis Bank Personal Loan

Axis Bank personal loan is one of the best option. You need not to worry about pre-payment charges when you opt for axis bank loan. Foreclosure or part payment charges are zero in case of Axis Bank.

Axis Bank Personal Loan Details

Maximum Loan Amount – 40 Lakh

Minimum Monthly Income – Rs.15000

Processing Fees – 2% of the Loan Amount

Prepayment Charges – NIL

Loan Tenure – 7 Years

Interest Rate – From 10.65%

Eligibility

This loan is offered to salaried with age range of 21 years to 60 years.
Your minimum net monthly income should be Rs.15000.

#4 Standard Chartered Bank Personal Loan

Standard Chartered Bank is famous for online application and instant approval. You can get loan up to 30 lakh from standard chartered bank. You can get 50% discount on processing fees for online applications.

Standard Chartered Personal Loan Details

Maximum Loan Amount – 30 Lakh

Minimum Salary – Rs.22000

Processing Fees – 1% of loan amount

Part Prepayment – Not Allowed

Interest Rate – 10.99- 11.5%

Eligibility

Age limit should be 21 years to 58 years.
Minimum Income should be Rs.22000 per month.
You should have valid identity proof and address proof.

#5 CitiBank Personal Loan

CitiBank generally offer loan to the salaried people. CitiBank offers personal loan at lower rate to salaried compared to self-employed. CitiBank Personal loan is offered at lower rate of 10.99%.

CitiBank Personal Loan Details

Maximum Loan Amount – Up to 30 Lakh

Minimum Salary – Rs.25000

Processing Fees – 3% of the loan amount

Pre Closure Charges – 4%

Interest Rate – 10.99 – 18.99%

Eligibility

Loan can be given to salaried Individual, Self- Employed professional and business owners.
Existing CitiBank Customer with a Suviddha, Branch or Mortgage relationship.

Factors that affects interest rate of personal loan

The top factors that affects interest rate of your personal loan are given below.

#1 CIBIL Score

Your CIBIL score matters a lot while deciding interest rate on your personal loan. If you have CIBIL score is above 750, you will get a loan at lucrative interest rate. It also increase chance of getting faster loan approval. If you have lower CIBIL score, you are likely to get loan with higher interest rate.

#2 Your Income

Your income level matters a lot. If you have higher salary you are likely to get loan at lower interest rates. Higher income level means higher capacity in repayment of the loan. Few banks and financial institution even keep condition of certain income level as eligibility criteria.

#3 Employer Reputation

A reputation of employer plays a crucial role in determining your loan interest rate. If you are working with reputed multinational company or bank, interest rate applicable on personal loan will be low.

#4 Your Relationship with Bank

Your relationship with bank matters a lot. If you are loyal customer of the bank you will get personal loan with lower interest rate. You can even negotiate with bank for the interest rate.

5 Lending Companies for Small Business Loans

Shitanshu Kapadia

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June 21, 2020

1

5 Lending Companies for Small Business Loans

Lending companies provide loans to small businesses. If you are looking for loans from online lending companies for small business needs, here is a list of 5 Lending companies that offer loans for your financial needs.

If your loan application is rejected by the bank, you can go for online lending companies for small business loan requirements. Your loan requirement of business or a personal loan will be defiantly get fulfilled.

Here we compile 5 lending companies that provide unsecured loans to individuals and small businesses in India.

Lending Companies in India

5 Lending Companies for Small Business Loans

Capital Float

Capital Float is a leading Fintech Lender. Capital Float provides a facility to apply for the loan online and offline. You can apply for a loan such as business finance, consumer finance etc. Capital Float is best for small and medium enterprises. It quickly provides you funds for cash flow, supplier payment as well as the growth of a business. Key features of Capital Float are given below.

Online and offline mode to apply for the loan.
Unsecured loan. No need to pledge property or machinery for the loan.
Finance amount from 3 Lakh to 1 Cr with terms between 3 months to 6 months.
Interest rate from 15% per annum. Processing fees up to 2% of the loan amount.

Also Read – Best Business Loans in India for Small Businesses

Lendingkart

Lendingkart is a popular online platform for providing working capital finance for small businesses. Lendingkart focuses on current year cash flow and growth prospects while giving a loan. The application process for applying loan is 100% online and paperless. Key features of Lendingkart are given below.

Does not require any Collateral or Net Worth details
Instant Loan facility with quick approval in 3 days.
Multiple products such as business loan, working capital loan, MSME loan etc.
Loan amount from Rs.50000 to 2 Cr.
Interest rate from 12% to 24% per annum.
Loan tenure up to 36 months with processing fee of 2%

Capital First

Capital First provides easy and short term loans for your business. Capital First is now IDFC First Bank. It provides loans for all types of businesses. Key features of Capital First are given below.

Flexible Tenure from 1 year to 5 years.
Easy Application Process. The company provides you door to door service also.
Top up facility available for the existing borrowers.
An online application facility is available.
Multiple Loan Options.
Loan amount from 3 Lakhs to 75 Lakhs.

iLend

iLend is online lending platform famous for peer to peer lending. This means on this platform you can get a loan for your business from other peers. This platform connects borrowers and lenders. Features of iLend are given below.

Multiple Loan option including business loan and personal loans.
Loan Interest rate starting from 12%
Unsecured loans with multiple lenders for offering loans.
No hidden cost.
No penalty if you close the loan before time.

FlexiLoans

FlexiLoans is an online platform for getting funds for all your business needs. You can get options such as vendor financing, line of credit etc. Key features of FlexiLoans are given below.

The loan amount varies from Rs.50000 to 1 Cr.
FlexiLoans provides loans with 12% per annum.
Loan tenure is from 6 months to 12 months.
The payment mode is flexible. You can even pay weekly or monthly.
Customer support is very good.

Final words

I hope the above information about 5 Lending companies for small business loans helps you in getting a loan for your business to fulfill your dreams.