Bandhan Bank Car Loan Interest Rate – Complete Guide & EMI Tips

Key Takeaways 

• Bandhan Bank car loan interest rate starts from 9.47% p.a. for new cars over 3 years and 12.15% p.a. for used cars, helping you plan your budget confidently.
   
• The maximum loan tenure of up to 84 months lets you lower your monthly outgo.
   
• You can estimate repayment using the Bandhan Bank car loan EMI calculator before applying.

“EMI budget mein aayegi ya nahi?” This is often the first question that comes to mind when planning to buy a car, and this blog aims to explain everything in a clear, simple, and practical way.

A car loan interest rate decides how much extra amount is paid over the borrowed money, and the Bandhan Bank car loan interest rate is structured based on loan tenure and whether the car is new or used, as published by the bank. Bandhan Bank offers interest rates starting from 9.47% per annum for new car loans with a tenure of above three years and 12.15% per annum for used car loans, giving borrowers clear rate visibility.

Calculations make the decision easier when planning for the Bandhan Bank car loan interest rate for 5 years. If I take a ₹10,00,000 new car loan at 9.47% per annum for 5 years, my EMI comes to around ₹20,900, and the total Bandhan Bank car loan interest rate for 5 years paid over the tenure is close to ₹2,50,000, as seen using the official Bandhan Bank car loan EMI calculator. This helps me decide the right tenure without stretching my monthly budget.

Types of Car Loans Offered by Bandhan Bank

Here is a comparison of car loans you can get from Bandhan Bank. These rates are effective and reflect the logged interest trends and official documents.

These options allow borrowers to choose between lower EMIs or shorter repayment periods based on budget preference. The Bandhan Bank new car loan interest rate and Bandhan Bank used car loan interest rate are clearly defined in the official rate structure.

Bandhan Bank Car Loan Processing Fees & Charges

It is helpful to know the official fees and charges, as they affect the total loan cost and repayment amount before applying for a Bandhan Bank car loan.

These charges are applicable as per the latest Bandhan Bank Car Loan Schedule of Charges, and borrowers should always confirm the final payable amount on the official car loan page before submitting the application.

Bonus Tip: Bandhan Bank allows both salaried and self-employed individuals to apply for car loans, provided their income and repayment capacity meet the bank’s criteria. This makes the loan accessible beyond only fixed-salary earners.

How to Apply for Bandhan Bank Car Loan?

The application process for a Bandhan Bank car loan is simple and transparent when followed step by step.

Step 1: Visit the official Bandhan Bank car loan page on the bank’s website and choose the car loan option that suits your requirements.

Step 2: Select whether you are applying for a new car loan or a used car loan and enter basic personal and contact details in the application form.

Step 3: Submit the required documents, including identity proof, address proof, income documents, and the vehicle quotation, either online or at the nearest Bandhan Bank branch.

Step 4: The bank evaluates the application based on income stability, credit profile, and repayment capacity as per Bandhan Bank car loan eligibility norms.

Step 5: Use the Bandhan Bank car loan EMI calculator to review the estimated monthly instalment before final confirmation.

Step 6: After approval, the loan amount is disbursed according to Bandhan Bank’s official loan disbursal process.

Applicants are encouraged to use the Bandhan Bank car loan EMI calculator to assess the monthly repayment before final submission.

Conclusion 

The Bandhan Bank car loan interest rate structure supports both new and used car buyers through flexible tenure options and transparent pricing. Using the official EMI calculator and reviewing eligibility criteria helps borrowers make informed decisions and choose a car loan that fits long-term financial plans.

FAQs Related to Bandhan Bank Car Loan Interest Rates

How are interest rates calculated for Bandhan Bank car loans?

Bandhan Bank car loan interest rates are calculated based on the loan tenure, type of car (new or used), and the borrower’s credit profile and repayment capacity. The bank applies a fixed interest rate slab published on its official car loan page, with longer tenures, and used cars generally carry higher rates than new car loans.

What is the current interest rate of Bandhan Bank Car loan? 

Bandhan Bank offers car loans at interest rates starting from 9.47% per annum for new car loans with tenure above three years, 12.17% per annum for new car loans up to three years, and 12.15% per annum for used car loans, as stated on its official car loan page.

Does Bandhan Bank offer fixed or floating interest rates on car loans?

Bandhan Bank offers fixed interest rates on car loans, as per the official rate slabs published on its car loan page. This means the interest rate remains unchanged during the loan tenure, helping borrowers plan EMIs without worrying about future rate fluctuations.

Does Bandhan Bank offer car loans for secondhand cars?

Yes, Bandhan Bank offers car loans for secondhand or used cars. The bank provides used car loans at interest rates starting from 12.15% per annum, subject to vehicle age, loan tenure, and borrower eligibility as per the official car loan policy.

Is Bandhan Bank a good option for a car loan, and how does the payment process work?

Bandhan Bank is a reliable option for car loans as it offers officially published interest rates, clear loan terms, and structured repayment schedules. EMI payments can be made through standard banking channels such as auto-debit and online banking, as defined by the bank’s official car loan process.
 

Apply for Loans Fast and Hassle-Free

Apply Now

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.