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NCL

New Car Loan

From showroom to driveway, fully funded.

Funding: Up to 100% on-road
Tenure: 12 — 84 months
Interest rate: From 8.75%* p.a.

Apply for NCL or message on WhatsApp

At A Glance

Purpose: The on-road price of a new car
Who can apply: Typically 21–65 years old, with regular, documented income

See what you will need

The Short Version

What New Car Loan actually does for you.

Financing for the on-road price of a new car. We help with the dealer paperwork, such as the invoice, insurance and RTO, from quotation to delivery.

What's included

Dealer and insurance coordination handled on your behalf
Pricing may be better for salaried applicants with a stable employer
Fast sanction on light documentation

Do you qualify?

Typically 21–65 years old, with a regular, documented income
At least 1 year in the current job or business
A CIBIL score of 650+ is usually considered; 750+ may help you get better rates
Resident Indian, salaried or self-employed

Which One Are You

SalariedYou draw a fixed monthly salary from an employer, in a private company, a government job or a public-sector unit. Lenders mainly check your salary slips, Form 16 and the salary credits in your bank account, and how long you have been with your employer. A steady job and a regular record of salary credits usually make the process simpler.

Self-EmployedYou run a business, practise a profession such as medicine, accountancy or architecture, or work as a freelancer. Lenders look at your ITRs, your financial statements, your GST returns and your business bank statements to judge how steady your income is. Returns filed on time and accounts in order make approval easier.

Documents Required (Checklist)

For Salaried

Last 3 months' salary slips
Last 6 months' bank statement showing salary credits
Latest Form 16 (or last 2 years'), and ITR with Form 26AS if your income is taxable
Details of existing loans, with EMIs and statements

For Every Applicant

KYC (PAN, Aadhaar, address proof)
Dealer's vehicle quotation

This is the usual list for each type of applicant. Get the exact checklist for new car loan, sent as a PDF you can save or print.

Fees and other charges

Besides interest, a lender may charge a few fees. It helps to know them before you apply, so there are no surprises.

Processing fee

A percentage of the loan amount plus GST, often somewhere between about 0.5% and 2%. Some lenders reduce or waive it during offers.

Documentation and hypothecation charges

A small fee for the paperwork, and for recording the lender's charge on the vehicle's registration (RC).

Foreclosure and part-prepayment

Closing early may carry a charge, usually a percentage of the outstanding amount, depending on the lender and how long you have held the loan.

These are general guides and every lender sets its own fees. Your expert will share the exact charges in writing before you sign.

Why Growth Capital Services

One conversation, many lenders to compare.

We are a loan consultant, not the lender. We help you compare options from 75+ Banks and NBFCs, prepare your documents, and follow your application through each step.

Check Your Eligibility Talk to Our Loan Expert

Important note: Interest rate, loan amount, tenure, charges, eligibility, approval and disbursement depend on the policy of the respective Bank or NBFC, your profile, credit assessment and the applicable terms. Growth Capital Services is a loan consultant and does not lend money itself. The details on this page are for general information.

Run the numbers

Calculators for your New Car Loan

Try your own figures before you apply — nothing is saved or sent.

EMI Calculator

Plan your loan payments

Adjust the sliders to estimate your monthly EMI, total interest and total repayment.

Loan Amount

₹50.00 L

₹1 L₹10 Cr

Interest Rate (p.a.)

5%24%

Loan Tenure

Years

1 Yr30 Yrs

Monthly EMI: ₹46,607
Total interest: ₹61,85,574
Total payable amount: ₹1,11,85,574

EMI₹46,607per month

Principal (45%)

Interest (55%)

Talk to an Expert

Step-by-step guide

New Car Loan process, step by step.

From choosing the car to driving it home, here is how a new car loan goes.

Choose your car

Pick the model and get the dealer's quotation.

Check your eligibility

We see what loan you qualify for and the EMI you can manage.

Compare offers

You see rates, down payment and EMIs from different lenders.

Submit documents

You provide KYC, income proof and bank statements.

Approval and delivery

The lender approves, pays the dealer, and the car is registered with the lender's charge noted.

With GCS, your expert looks at your profile, matches it with suitable lenders, and coordinates with the banks for you. That means less confusion and more confidence when you apply.

Worth Comparing