Finance your dream car with personal loans from Navi
What is a Car Loan?
In today’s fast-paced world, owning a car has become a necessity to travel hassle-free. However, purchasing a new car from one’s own pocket at one go can be financially difficult for some. This is where availing a car loan can come in handy. To cut to the chase, a car loan helps you with the additional funds you need to purchase a car.
However, remember that car loans are generally secured loans where your car is the collateral. Also, you might not get 100% financing for your car, meaning you have to pay the rest of the amount from your own pocket as down payment. So, here’s an alternative. Avail a personal loan for a car with Navi and purchase the vehicle of your choice stress-free. Navi Personal Loan facilitates a 100% paperless process and instant loan disbursal.
Features and Benefits of a
Car Loan
Features and Benefits of a Car Loan
How to Apply for a Car Loan with Navi?
How to Apply for a Car Loan with Navi?
Eligibility Criteria and Documents Required
Indian Resident 18-65 years of age
PAN Card Holder
Salaried or Self-Employed
Aadhaar Card Holder
Car Loan Interest Rates in India
| Interest Rate | 9.90% p.a. onwards |
| Processing Fee | Up to ₹7,500 |
| Loan Amount | Up to ₹20 lakh |
| Loan Prepayment Fee | Nil |
| Loan Tenure | Up to 72 months |
How to Calculate EMI on Personal Loan for Car
Calculate your personal loan for car EMI beforehand to better plan and manage your finances. The mathematical formula to calculate EMI is
EMI = P × r × (1 + r)n/((1 + r)n – 1) where P= Loan amount, r= interest rate, n=tenure in number of months.
However, calculating EMI manually can be tedious and time consuming. As an alternative, you can use our personal loan EMI calculator to instantly check your monthly repayment obligations. All you need to do is select the loan amount, tenure and interest rate, and you shall be able to view the EMI amount.
Car Loan Calculator
Loan Amount
Rate of Interest (P.a)
%
Loan Tenure (Months)
months
Monthly EMI
0
Total Interest
Total Amount
Why Choose a Navi Personal Loan for Your Dream Car?
Convenience
No heavy paperwork. Minimal documents. Instant disbursal. Applying for a personal loan for car finance is a breeze when you have Navi by your side. Download the Navi app and apply for a personal loan from anywhere, anytime and on the go.
Customer-first experience
The Navi app is designed to provide superior customer experience. Housing a user-friendly and easy-to-navigate interface, applying for a loan has never been easier. The entire loan journey - from application to disbursal - just takes a few minutes of your time.
Competitive pricing
Enjoy attractive interest rates and zero loan prepayment charges with Navi Personal Loan. This positions Navi Personal Loan as one of the most affordable loan products in the market.
Various Use Cases of Personal Loan
Trusted by Millions of Users
What our customers say about us
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