Finance your dream car with personal loans from Navi

Enjoy attractive interest rates starting at 9.9% p.a. with flexible EMI options

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

With the Navi app, applying and getting a loan is easy. You can get your loan approved and disbursed to your account in just a few minutes
You can get a loan up to ₹20 lakh. So that you can plan your short-trip or staycation anywhere in the world!
Navi offers competitive interest rates starting from 9.9% p.a.
Go digital with Navi. No paperwork or physical interaction required to get a car loan. Just download the Navi app and apply
With a repayment tenure of up to 72 months, you can repay the loan at your convenience
Forget the lengthy documentation process. Just apply with your PAN details via the Navi app

How to Apply for a Car Loan with Navi?

Follow the steps below to apply for a car loan:
Download the Navi App from Play Store or App Store
Enter a few basic details like name, address, PAN, etc., to check your eligibility
Enter the loan amount and tenure
Our representative will call you. Complete your V-KYC with PAN
Enter bank details and set-up auto pay. Get instant money in your bank account

How to Apply for a Car Loan with Navi?

How To Apply

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

Navi offers personal loans for cars at attractive interest rates starting from 9.9% p.a. However, the final interest rate offered depends on your eligibility.
Interest Rate9.90% p.a. onwards
Processing FeeUp to ₹7,500
Loan AmountUp to ₹20 lakh
Loan Prepayment FeeNil
Loan TenureUp 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)


Monthly EMI


Total Interest

Total Amount

Why Choose a Navi Personal Loan for Your Dream Car?


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.

Trusted by Millions of Users

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App Downloads
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Loan Sanctioned
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Loan amount disbursed
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Feb 22

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Frequently asked questions

No. A car loan is a secured loan that helps you purchase a car. As it is a secured loan, your car is the collateral here. Whereas a personal loan is an unsecured loan that you can use for any purpose.
You can repay your car loan in easy EMIs (Equated Monthly Installments). For hassle-free EMI payments, link your bank account and set up auto-debit. The EMI amount shall be automatically deducted from your bank account on the due date.
Defaulting on your personal loan is never a good sign. It can put a dent in your creditworthiness and may call for penalty charges.
Yes, you can foreclose your loan before the scheduled tenure. You can do so by paying the loan amount in full at one go. Navi doesn’t charge any personal loan foreclosure fee.
Your personal loan EMI depends on three factors – the loan amount, interest rates and tenure. Your EMI will be calculated based on these parameters. You can use Navi Personal Loan EMI Calculator to check your EMI beforehand.

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