Bajaj Finance Car Loan Interest Rate – Complete Guide & EMI Tips

Key Takeaways
 

• Bajaj Finance car loans offer interest rates up to 14% p.a., depending on credit score, income, and vehicle type. This range applies to both new and pre-owned vehicles under the Bajaj Finance new car loan interest rate structure.
   
• New car loans allow financing up to 100% of the on-road price, with repayment tenures extending up to 96 months, reducing monthly EMI pressure for eligible borrowers who meet Bajaj Finance car loan eligibility norms.
   
• Borrowers can instantly estimate monthly repayments using the Bajaj Finance car loan EMI calculator, which shows EMI, total interest, and repayment amount before application, and helps compare options under the Bajaj Finance car loan interest rate 2025.

“Gaadi leni hai, par EMI budget ke andar honi chahiye.” If this sounds familiar, this guide is for you. A clear understanding of car loan interest rates helps you avoid costly mistakes and choose a repayment plan that fits your monthly income comfortably.

A car loan helps bridge the gap between today’s car prices and your current savings by spreading the cost over manageable monthly installments. Bajaj Finance provides car loans for both new and used vehicles, with interest rates typically ranging from 10% to 19% per annum, based on factors such as credit score, income stability, vehicle age, and loan tenure. These factors directly affect approval under Bajaj Finance car loan eligibility guidelines.

If I take a ₹5 lakh car loan for five years at 12% per annum, my EMI comes to around ₹11,100, and the total interest paid is about ₹1.66 lakh. When I use the Bajaj Finance car loan EMI calculator, I can instantly compare EMIs across tenures and choose one that keeps my monthly payment affordable.

Types of Car Loans Offered by Bajaj Finance Bank

Bajaj Finance offers multiple car loan options designed for different ownership needs. The table below summarises the key loan types along with interest rates and features, including options under the Bajaj Finance used car loan interest rate category.
 

These options also include financing under the Bajaj Finance second hand car loan interest rate framework for pre-owned vehicles.

Bajaj Finance Bank Car Loan Processing Fees & Charges

It is important to understand the additional charges linked to the loan before applying. Bajaj Finance discloses these charges transparently on its official website.
 

These charges are usually deducted or collected during loan processing, so borrowers should factor them into the overall cost.

Bonus Tip: In its recent monetary policy statements, the RBI has highlighted priority lending and risk-based pricing for green and electric mobility financing. As a result, some lenders have started offering EV car loans at interest rates up to 0.25%-0.50% lower than comparable petrol or diesel car loans, depending on borrower profile and tenure. 

How to Apply for a Bajaj Finance Bank Car Loan

Follow these simple steps to apply for a Bajaj Finance car loan correctly:

1. Visit the official Bajaj Finance car loan page on the website.
2. Enter your mobile number and basic personal details to start the application. 
3. Select whether you are applying for a new or used car loan, and provide the vehicle details such as price and model.
4. You will then be asked to complete digital KYC using Aadhaar and PAN. 
5. Upload income and address documents as requested. 
6. Bajaj Finance evaluates your application based on your age, income, and credit score, as outlined in the Bajaj Finance car loan eligibility guidelines.

Check affordability using the Bajaj Finance car loan EMI calculator before submitting, so the chosen EMI fits your monthly budget.

Conclusion

Bajaj Finance car loans offer flexible tenures, competitive interest rates, and clear eligibility rules for new and used vehicles. Understanding interest rates, processing charges, and EMI impact helps borrowers choose a loan that stays affordable throughout the repayment period and supports confident car ownership.

FAQs Related to Bajaj Finance Bank Car Loan Interest Rates

How do I check Bajaj Finance car loan eligibility online?

Visit the Bajaj Finance eligibility page and enter basic details like age, income, and credit score. They will show whether you meet the criteria before applying.

What is the interest rate for Bajaj Finance car loans against home loans?

Bajaj Finance does not offer a car loan directly against a home loan. If you use your property as security, Bajaj Finance provides a Loan Against Property with interest rates starting from around 9% per annum, based on your credit profile and loan terms.

Does Bajaj Finance offer a car on loan?

Yes. Bajaj Finance offers car loans for both new and used vehicles with competitive interest rates and flexible repayment tenures to help customers finance their car purchases.

What should borrowers know about Bajaj Finance personal loan sanction letters and foreclosure charges?

Bajaj Finance clearly mentions the interest rate type, all charges, and any add-on insurance in the sanction letter. Loan confirmation can usually be completed later if OTP is not given immediately. Foreclosure is allowed, but charges apply as per the loan agreement. Bajaj Finance app is safer and more transparent than dealing only with agents.

Is Bajaj Finance a good option for taking a car loan?

Bajaj Finance can be a good option for a car loan due to quick processing and competitive interest rates for eligible borrowers. However, the final interest rate and charges depend on credit score and loan terms, so reviewing the sanction letter carefully before accepting is important.
 

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About the Author

LoansJagat Team

‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.