New cars on EMIs
Explore our range of products for automobiles. Check out a host of new cars, compare and select the one that suits your requirements and budget. Our new car loans provide you with funds to purchase your dream car. Benefit from our flexible repayment tenure and spread the cost of your car into small monthly instalments.
Check out a host of personalised deals curated just for you.
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What is a car loan?
A car loan is a type of loan specifically designed to help you purchase a four-wheeler vehicle. You can borrow money from a lender such as Bajaj Finance to purchase a car and then repay the loan amount over a convenient tenure.
Bajaj Finance offers two kinds of car loans – new car loan and used car loan – to help you meet your goal of buying a car.
If you are looking to buy a brand-new car, you can read about the features and benefits of new car loan on this page.
Alternatively, you can consider used car loan from Bajaj Finance.
How do car loans work?
When you take a car loan, you are provided with funds to purchase the vehicle you like. In the case of most term loans, you are charged interest on the borrowed amount for the duration of the loan tenure. This amount and the interest component of your loan is what makes up your equated monthly instalments (EMIs). Bajaj Finance offers new car loans for convenient durations of 12 months to 96 months.
What are the benefits of taking a new car loan from Bajaj Finance?
With Bajaj Finserv New Car Loan, you can get a loan ranging from Rs. 1 lakh to Rs. 10 crore and bring home your desired vehicle with ease. Apart from this high-value loan, you can also benefit from our simple eligibility criteria, flexible repayment tenures, and minimal paperwork. These features make your loan borrowing experience hassle-free.
How is the interest rate determined for a car loan?
There are several factors that influence car loan interest rates.
These factors include your credit score, loan term, loan amount, and prevailing market rates. Generally, borrowers with higher credit scores and shorter loan terms tend to receive lower interest rates. Bajaj Finance offers new car finance at attractive interest rates of up to 12% p.a.
Read about the interest rates and charges applicable on new car finance
How much can I borrow for a car loan?
The amount you can borrow depends on various factors, including your creditworthiness, income, and the lender's policies. Bajaj Finance offers new car loans ranging from Rs. 1 lakh to Rs. 10 crore. If you are looking to buy a pre-owned vehicle, you may be eligible for a used car loan ranging between Rs. 1 lakh to Rs. 2.50 crore.
How to get quick approval on your car loan?
You can get quick approval on your car loan application if you meet the required eligibility criteria and submit the needed documents.
What is the minimum salary required for a car loan?
You can qualify for our new car loan if you have a minimum salary of Rs. 25,000. Apart from meeting our income criteria, you also need to fulfil other parameters such as credit score, age, and more.
What factors affect car loan eligibility?
Your car loan eligibility depends on several factors. These factors include your credit score, income, employment history, debt-to-income ratio, and the value of the vehicle you plan to purchase.
Usually, almost anyone can apply for a new car loan. Bajaj Finance offers financing to Indian nationals between the age of 21 years to 80 years with a CIBIL Score of 650 or higher.
Can I get a new car loan with a low credit score?
Having a good credit score helps you get loan approval easily and on better terms. However, if you are applying for a new car loan, you should have a minimum CIBIL Score of 650.
What are the documents required to avail of a car loan?
If you are applying for a new car loan offered by Bajaj Finance, you need to submit your PAN card, KYC document, employee ID card, salary slips, bank account statement and more.
What are the car loan repayment terms?
Our new car loan comes with flexible repayment tenures. You can repay your loan easily over a period ranging from 12 months to 96 months.
How to check the status of a new car loan?
If you have an existing new car loan with Bajaj Finance, you can check its status by visiting our customer portal – My Account. You can use your registered mobile number and the OTP to log in and find your loan account details such as EMI amount, due date, and more.
New car loans on EMIs
Electric vehicles on EMIs
Switch to electric with ease — own an EV through flexible, affordable EMIs that fit your monthly budget. Enjoy lower running costs, eco‑friendly driving, and attractive financing options that make going electric smarter and stress‑free.
Factors to consider before choosing a new car loan EMI plan
Before finalizing a new car loan EMI plan, evaluate key factors like interest rate, loan tenure, down payment, processing fees, and your monthly repayment capacity. Comparing offers and understanding the total cost of ownership helps ensure your EMI stays comfortable and financially sustainable over the long term.
New car on EMIs
Bring home your new car with convenient EMI options designed to match your budget and lifestyle. With flexible tenures, competitive interest rates, and easy repayment plans, owning a car becomes simpler, more affordable, and completely hassle‑free.
Disclaimer
Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.