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₹1 Crore New Car Loan – EMI Calculator, Interest Rates & Eligibility (2026)
A ₹1 Crore new car loan helps you finance a new car without paying the full amount upfront. With competitive interest rates starting from 8.75% p.a., leading banks and NBFCs make it easy to drive away in your dream car. The loan covers 85% – 100% of on-road price, with a down payment of 10% – 20% typically required. Repayment tenures extend up to 7 years, giving you flexibility to choose EMIs that fit your monthly budget. Most lenders offer 100% on-road price financing for new vehicles from authorized dealers, meaning your down payment can be as low as zero with select banks and promotional offers. The car itself serves as collateral (hypothecated to the bank), so no additional security is required. Key factors affecting your interest rate include your CIBIL score, income stability, the vehicle brand and model, and the chosen loan tenure. A CIBIL score of 750+ gets you the lowest available rates. The loan processing typically takes 2-5 business days, with disbursal directly to the dealer.
Key Highlights – ₹1 Crore New Car Loan
- ✓Interest rates starting from 8.75% p.a. for ₹1 Crore new car loan
- ✓Funding up to 85% – 100% of on-road price
- ✓Flexible repayment tenure up to 7 years
- ✓Quick approval — loan disbursed within 2-5 business days
- ✓100% on-road price financing available at select banks
- ✓Pre-closure allowed after 12 months with minimal charges
- ✓Interest rates starting from 8.75% p.a.
Loan Details
New Car Loan Calculator
Calculate your EMI and total interest for a new car loan with flexible repayment options.
Instant Approval
No Hidden Charges
100% Digital Process
Representative Example:
Borrow ₹1,00,00,000 over 12 months at 9.99% APR. Total repayment: ₹1,05,49,348.37 with monthly EMIs of ₹8,79,112.36.
EMI Calculator
Select Your Bank
Enter Loan Amount
₹1,00,00,000
50K50L
9.99
8%30%
1
1Y10Y
Monthly EMI
₹8,79,112.36
Total Interest
₹5,49,348.37
₹1 Crore New Car Loan – EMI Breakdown Table
Compare monthly EMI, total interest, and total payment for a ₹1 Crore new car loan at 8.75% p.a. across different repayment tenures.
| Tenure | Monthly EMI | Total Interest | Total Payment |
|---|---|---|---|
| 1 year(12 mo) | ₹8,73,356 | ₹4,80,270 | ₹1,04,80,270 |
| 2 years(24 mo) | ₹4,55,701 | ₹9,36,830 | ₹1,09,36,830 |
| 3 years(36 mo) | ₹3,16,835 | ₹14,06,063 | ₹1,14,06,063 |
| 4 years(48 mo) | ₹2,47,665 | ₹18,87,922 | ₹1,18,87,922 |
| 5 years(60 mo) | ₹2,06,372 | ₹23,82,340 | ₹1,23,82,340 |
| 6 years(72 mo) | ₹1,79,017 | ₹28,89,231 | ₹1,28,89,231 |
| 7 years(84 mo) | ₹1,59,625 | ₹34,08,494 | ₹1,34,08,494 |
* EMI calculations are indicative. Actual EMI may vary based on the bank's interest rate, processing fees, and loan terms.
Banks Offering ₹1 Crore New Car Loan
Compare interest rates, processing fees, and maximum loan amounts from top banks offering ₹1 Crore new car loan in India.
| Bank | Interest Rate | Max Loan | Processing Fee | Max Tenure |
|---|---|---|---|---|
| SBI Car Loan | 8.65% – 9.80% | ₹5 Crore | 0.40% | Up to 7 years |
| HDFC Bank | 8.75% – 9.50% | ₹1.5 Crore | 0.50% | Up to 7 years |
| ICICI Bank | 8.80% – 12.00% | ₹1 Crore | 0.50% | Up to 7 years |
| Axis Bank | 9.00% – 10.50% | ₹80 Lakh | 0.50% | Up to 7 years |
| Bank of Baroda | 8.45% – 10.50% | ₹10 Crore | 0.50% | Up to 7 years |
| Kotak Mahindra | 9.00% – 10.99% | ₹1 Crore | 0.50% | Up to 5 years |
* Interest rates and fees are indicative and may vary. Please check with respective banks for the latest rates and offers.
Eligibility for ₹1 Crore New Car Loan
To qualify for a ₹1 Crore new car loan, applicants typically need to meet the following criteria:
Applicant Requirements
- 1Indian citizen or resident aged 21 to 65 years
- 2Salaried individuals with minimum 1 year work experience
- 3Self-employed with 2+ years of business vintage
- 4Minimum monthly income: ₹50,000
- 5CIBIL score of 700+ (750+ for best rates)
- 6Valid driving license required
Collateral Requirement
The car purchased with the loan is hypothecated to the bank and serves as collateral. No additional security or property pledge is required.
Income Requirement
Minimum monthly income of ₹50,000 for salaried applicants. For self-employed, annual income should be proportionally higher with ITR proof.
Documents Required for ₹1 Crore New Car Loan
Keep the following documents ready when applying for a ₹1 Crore new car loanto ensure a smooth and fast approval process.
Identity Proof
- •PAN Card
- •Aadhaar Card
- •Passport
- •Voter ID
Address Proof
- •Aadhaar Card
- •Utility Bills
- •Rent Agreement
- •Passport
Income Proof
- •Last 3 months salary slips
- •Latest ITR (2 years)
- •Bank statement (6 months)
- •Form 16
Vehicle Documents
- •Proforma invoice / Quotation
- •Vehicle RC book (for used)
- •Insurance copy
- •Vehicle inspection report (for used)
Important Notes
- ⚠Proforma invoice from authorized dealer required
- ⚠Insurance is mandatory — comprehensive insurance for the loan tenure
- ⚠Road tax and registration charges can be included in loan amount
Cars You Can Buy with ₹1 Crore New Car Loan
Here are some common uses and purposes for a ₹1 Crore new car loan in India.
1
Mid-Size SUVs
Popular SUVs like Hyundai Creta, Kia Seltos, Tata Harrier, MG Hector available with ₹1 Crore car loan.
2
Premium Sedans
Honda City, Hyundai Verna, Skoda Slavia — feature-rich sedans with powerful engines and safety features.
3
Electric Vehicles
Eco-friendly EVs like Tata Nexon EV, MG ZS EV, Hyundai Ioniq 5 available within your ₹1 Crore budget.
4
Large SUVs
Toyota Fortuner, MG Gloster, Mahindra XUV700 — full-size SUVs for families who need space and power.
Other New Car Loan Amount Guides
Explore new car loan options for different amounts. Each page includes a customized EMI calculator, bank comparison, eligibility criteria, and expert insights.
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