New Car Loan
Up to 100% funding of the car’s invoice value
Flexible repayment tenures of up to 84 months
Attractive interest rates
Minimal documentation
Tata Capital offers an affordable new car loan at competitive interest rates starting from
9.49%. You can avail car finance up to Rs. 50 lakhs to drive home your dream
hatchback, sedan, or SUV without burdening your savings. Enjoy up to 100% funding of your car’s value
with flexible Equated Monthly Instalment (EMI) options for tenures up to 84 months (7 years).
What’s more? Our new car loans require minimal documentation!
So, wait no more. Apply for a Tata Capital online car loan today — from the convenience of your home.
| Maximum Loan Amount | Up to ₹ 50 lakhs |
| Loan Tenure | Up to 84 months |
| Interest Rates | Starting from 9.49% |
We offer the best car loans with simple eligibility criteria and minimal documentation. Our eligibility criteria differ for salaried and self-employed individuals to ensure everyone has access to a seamless and convenient loan process.
| Salaried Individuals | |
| Age Criteria | Minimum 21 years at application; maximum 60 years at loan maturity. |
| Minimum Annual Income | Rs. 3 lakhs |
| Work Experience | Minimum 1 year of experience |
| Credit Score | Must be above 700 for higher approval chances |
| Self-Employed Individuals – Proprietorship | |
| Age Criteria | Minimum 21 years at application; maximum 65 years at loan maturity. |
| Business Type | Applicant must be the proprietor of the business. |
| Business Stability | Minimum business age: 1 year |
| Minimum Annual Income | Rs. 3 lakhs |
| Self-Employed – Partnership / HUFs / Others | |
| Minimum Annual Income | Rs. 2 lakhs |
| Accelerated Book Build (ABB) | Must be at least 0.5 times the loan EMI |
| Credit Score | Must be above 700 for higher approval chances |
Documents Required for New Car Loan
Submit the following documents based on your applicant type to ensure quick approval.
| For Salaried Individuals | |
| Identity Proof | Driving License, Aadhaar Card, Voter ID, PAN Card, Passport |
| Address Proof | Driving License, Aadhaar Card, Voter ID, Passport |
| Income Proof | Salary slips for the last 3 months |
| For Self-Employed Individuals | |
| Identity Proof | Driving License, Aadhaar Card, Voter ID, PAN Card, Passport |
| Address Proof | Driving License, Aadhaar Card, Voter ID, Passport |
| Income Proof | ITR, Audited Balance Sheet, Profit & Loss Statements (last 2 years), bank statements (last 3 months) |
| Signature Proof | Copy of signature along with signature verification |
| Business Proof (For Partnership / Companies) | Partnership Deed, Certificate of Incorporation (Pvt./Public Ltd.), Memorandum & Articles of Association, Commencement of Business Certificate |
Note: Visit our “Documents Required for New Car Loan” page for complete details.
Penal Charges for New Car Loan
Tata Capital offers new car loans with affordable rates starting at 9.49% p.a. Below is a detailed explanation of applicable penal charges.
| Default in EMI Payment | This charge applies when EMIs are paid late and is calculated based on the number of days the EMI remains unpaid. | 3% per month on overdue amount + applicable taxes |
| Dishonour of Cheque / Payment Instruments | Charged when your EMI bounces due to insufficient balance or payment failure. | ₹600 per instrument per instance |
| Mandate Rejection Service Charge | Charged if the new mandate is not registered within 30 days from rejection of the previous mandate by the borrower's bank. | ₹450 |
Other Charges for New Car Loan
Below are the applicable fees and charges associated with the New Car Loan offered by Tata Capital. Charges are subject to GST and applicable government levies.
| Foreclosure / Part Payment Charges (Term Loan) |
Charged when you repay the full or partial loan amount before your loan tenure ends.
Within 12 months of first disbursement: 6% on principal outstanding After 12 months of first disbursement: 5% on principal outstanding |
| Statement of Account Charges |
Charge applied for issuing a physical copy of your Statement of Account listing all transactions.
Customer Portal: Nil Branch Walk-in: ₹250 |
| Loan Cancellation Charges |
Charged if you request loan cancellation after the cooling-off period.
₹6500/- |
| Duplicate NOC Charges |
Applicable when you request a duplicate NOC in case the original is lost or misplaced.
₹300 |
| Stamp Duty |
Government-mandated fee for legally registering your loan agreement.
At Actuals |
| Broken Period Interest |
Interest charged between loan disbursal date and the first EMI due date.
At Actuals |
| NACH / PDC Charges |
Processing fee for setting up NACH mandates or handling Post-Dated Cheques.
₹500/- |
| Documentation Charges |
Fee for processing and verifying loan-related documents.
Up to ₹1999 |
| NOC for Private to Commercial Conversion |
Charge for issuing an NOC when converting a vehicle from private to commercial registration.
₹1999 + GST |
| Charges for Vehicle Repossession |
Cost incurred when recovering the vehicle in case of loan default.
₹22,000/- |
| PDD Charges |
Charge for managing the RC (Registration Certificate), administrative handling, and document management.
₹450 |
| Delay in RC Hypothecation |
Penalty for not updating hypothecation details within the deadline.
₹1000/- per month after 120 days from disbursement until updated with RTO. |
Note: GST and other applicable government taxes will be charged on all fees.
Application Process for a New Car Loan
With Tata Capital, applying for a new car loan is quick and convenient. You can choose to apply online or offline through your nearest Tata Capital branch. Follow the simple step-by-step process below:
Step 1: Fill out the Application Form
Visit Tata Capital’s website and complete the new car loan application form by providing basic details such as your name, mobile number, income, and employment details.
Step 2: Submit the Required Documents
Upload the required documents directly on our website. Depending on your employment type, documents may include PAN, Aadhaar, income proof, and bank statements.
Step 3: Verification
Once your application and documents are submitted, Tata Capital will verify the details to ensure accuracy. This is a quick process and ensures eligibility confirmation.
Step 4: Approval
After successful verification with no discrepancies, your new car loan application will be approved instantly. You can track the approval status easily on the Tata Capital website.
Step 5: Loan Disbursal
Once approved, the loan amount will be disbursed directly to your bank account within a few working days. You can then use this amount to purchase your dream car.
Step 6: Make the Required EMI Payments
You can make EMI payments conveniently through Tata Capital’s website or mobile app via NetBanking, debit card, credit card, or UPI. Alternatively, you may drop a cheque at your nearest Tata Capital branch.
Benefits of Tata Capital's New Car Loan
Tata Capital offers a range of flexible and reliable benefits, making your new car purchase smooth, affordable, and stress-free.
1. Flexi EMI Options
Tata Capital allows you to customise your car loan EMIs to suit your convenience. You can increase or decrease your loan tenure to keep your EMIs affordable and easy to manage.
2. Reputed and Trusted Brand
Enjoy complete peace of mind with Tata Capital — a trusted brand known for transparency, smooth loan processing, and customer-first financial solutions.
3. Up to 100% Funding
Get up to **100% of your car’s invoice value** financed. This helps you purchase your dream car without the stress of arranging a heavy down payment.
4. Competitive Interest Rates
Tata Capital offers some of the **lowest interest rates** in the market for new car finance. Use the Car Loan EMI Calculator to estimate your EMIs beforehand and choose the best repayment plan.
New Car Loan Pre-approved Offers for New Customers
Whether you are a new Tata Capital customer or an existing one, you can enjoy exclusive pre-approved offers that bring faster approvals, lower interest rates, and added benefits.
1. Better Interest Rates
Interest rates play a major role in determining the affordability of your loan. With Tata Capital’s pre-approved offers, you can get car loans at some of the most competitive interest rates in the market—resulting in lower EMIs and significant savings.
2. Quicker Processing
Customers who qualify for pre-approved offers get prioritised processing. This means faster approval, quicker verification, and minimal waiting time—perfect when you need urgent funding to purchase your car.
3. Other Benefits
Beyond financial advantages, Tata Capital provides additional perks with pre-approved offers, including:
• Free credit score check
• Complimentary car insurance (select offers)
• 24/7 on-call support
These value-added services ensure convenience, safety, and a smooth car-buying experience.