Used car loan in Indore
Used car loans in Indore work the way they do across India: a bank or NBFC lends against the car, values it, and notes its charge on the RC until you repay. Rates, fees and the maximum car age are set by the loan provider, not the city, but branches, valuers and processing time vary by location, so ask the loan provider how it handles Indore purchases. Start with the full used car loan guide.
Before you apply in Indore
- Work out a monthly budget with the eligibility calculator and the EMI calculator.
- Check the car age rule of each loan provider for the car you want.
- Collect the documents and check the seller's papers.
- Plan the RC transfer with your local transport office. State processes differ.
- Compare loan providers in the comparison tool before you sign.
Compare loan providers
| Loan provider | Published rate | Maximum tenure | Processing fee | Source |
|---|---|---|---|---|
| Axis BankPrivate bank | Not published | Up to 60 months (per Axis Bank calculator) | Not published | axis.bank.in |
| Bajaj FinanceNBFC | 10% - 18.25% p.a. | 12-84 months | Up to 2.95% of loan amount (incl. taxes) | bajajfinserv.in bajajfinserv.in |
| Bank of BarodaPublic sector bank | Floating 10.20% - 12.95%; fixed 11.90% - 14.65% | 60 months (vehicle age + tenure max 96 months) | 0.50% of loan + GST (min Rs 2,500, max Rs 10,000) | bankofbaroda.bank.in |
| Canara BankPublic sector bank | Not published | 60 months | 0.25% (min ₹1,000, max ₹5,000) + GST | canarabank.bank.in |
| CholaNBFC | 15% - 28% p.a. | 5 years | 0.5% - 3.25% + sourcing fee Rs 1,000 - 2,500 | cholamandalam.com files.cholamandalam.com |
| Federal BankPrivate bank | 10.15% - 14.00% | 60 months | 1% of loan (min ₹5,000, max ₹2,50,000) | federal.bank.in federal.bank.in |
| HDFC BankPrivate bank | 9.50% - 17.00% | Not published | Up to 1% of loan (min Rs 3,500, max Rs 9,000) | hdfc.bank.in |
| Hero FinCorpNBFC | 11.5% - 26% p.a. | 60 months | Up to 4% | herofincorp.com herofincorp.com |
| ICICI BankPrivate bank | From 9.75%; Q1 FY27 disbursed range 9.75% - 16.90% | Up to 84 months | 2% of loan, max Rs 20,000 + GST | icici.bank.in icici.bank.in |
| IDFC FIRST BankPrivate bank | From 11.99% | 7 years (repurchase) | Up to 5% of loan amount (incl. GST) | idfcfirst.bank.in idfcfirst.bank.in |
| IndusInd BankPrivate bank | Not published | 84 months* | Not published | indusind.bank.in |
| Mahindra FinanceNBFC | 8% - 25% p.a. | 5 years | Up to 2% of sanction amount | mahindrafinance.com media.mahindrafinance.com |
| Punjab National BankPublic sector bank | From 9.45% floating / 10.45% fixed | 60 months | Not published | pnb.bank.in pnb.bank.in |
| SBIPublic sector bank | 10.45% - 15.60% | Up to 5 years (10 years minus vehicle age) | 1.50% of loan + GST (min Rs 3,000, max Rs 10,000 + GST) | sbi.bank.in sbi.bank.in |
| Tata CapitalNBFC | From 10.49% p.a. | 72 months | Up to 2.95% of loan amount | tatacapital.com tatacapital.com |
| TVS CreditNBFC | Up to 30% p.a. | 12-60 months | Up to 5.9% (schedule of charges) | tvscredit.com tvscredit.com |
| Union Bank of IndiaPublic sector bank | 11.60% - 11.70% | Not published | Flat ₹1,000 | unionbankofindia.bank.in unionbankofindia.bank.in |
| Yes BankPrivate bank | Not published | Not published | Not published | yes.bank.in |
Checked 4 October 2026 on each loan provider's own website. "Not published" means the loan provider does not show that figure on the page we checked. We never estimate one. A starting rate is the best case, not the rate you will necessarily be offered.
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Frequently asked questions
Is a used car loan in Indore different from other cities?
The loan provider's rules, rate and fees do not depend on the city, but branch process and valuer availability can. Ask the loan provider about your purchase in Indore.
Where do I transfer the RC in Indore?
At the regional transport office that covers your address. Many steps can be done online on the Parivahan portal. Check your state's current process.
Which loan provider is best for a used car loan in Indore?
There is no single best loan provider. Compare the rate, fees, the maximum car age and the Key Fact Statement from two or three loan providers.
KhatuLoans is not a loan provider and is not paid by the loan providers named here to rank them. Rates, fees and eligibility change; always confirm with the loan provider. Read our editorial policy and how we make money.