What is Bandhan Bank New car Loan?
The Bandhan Bank New Car Loan aims is to make vehicle ownership affordable for salaried individuals, self-employed professionals, business owners, and other eligible applicants across the India.
Guided by its enduring philosophy, “Aapka Bhala, Sabki Bhalai” (Your Benefit, Everyone’s Welfare), Bandhan Bank has consistently worked towards creating meaningful financial opportunities for individuals, families, entrepreneurs, and businesses. What began as a mission focused on financial inclusion has now expanded.
Key Features of Bandhan Bank New Car Loan
- Loan amount from ₹1 lakh to ₹1.5 crore
- Funding up to 90% of the car’s on-road price
- Repayment tenure up to 84 months (7 years)
- Simplified documentation process
Bandhan Bank New Car Loan Eligibility Criteria
| Eligibility | Details |
| Eligible Applicants | Salaried Individuals |
| Self-employed Professionals | |
| Self-employed Non-professionals | |
| Non-individual Entities (Proprietorships, Partnership Firms, LLPs, and Companies) | |
| Minimum Age at Application | 21 years (Salaried Individuals) |
| 21 years (Self-employed Individuals) | |
| Income Requirement | Stable and regular source of income with sufficient repayment capacity. |
| Credit Profile | A satisfactory credit history and credit score are preferred for better loan approval chances. |
| Documentation | Valid KYC documents, income proof, bank statements, and other documents as needed by the bank. |
| Loan Approval | Subject to Bandhan Bank’s credit appraisal, document verification, and internal banking policies. |
Bandhan Bank New Car Loan Interest Rates
| Loan Tenure | Interest Rate (Starting From) |
| Up to 3 years | 9.45% p.a. |
| More than 3 years | 8.82% p.a. |
Note – The above interest rates are effective from June 01, 2026. The final interest rate offered to the applicant may vary based on factors such as the applicant’s credit profile, repayment capacity, loan amount, and Bandhan Bank’s prevailing banking policies at the time of loan sanction.
How to Apply online for bandhan Bank New Car loan
Step 1 Open the official car-loan page Bandhan Bank car loan. – www.bandhan.bank.in
Step 2 Click Apply Now.
Step 3 Enter your name, mobile number, email address, city along with PIN code.
Step 4 Loan Assessment
The bank will
- Verify your documents
- Check your income and repayment capacity
- Evaluate your credit profile and eligibility
Step 5 Loan Approval & Disbursement
Once your loan approved by bank
- The loan sanction letter will be issued.
- The loan amount is generally disbursed directly to the authorized car dealer.
- You can then complete the vehicle purchase process.
Important Note – Before you click Apply
- Keep PAN + Aadhaar + dealer quotation + last 3 salary slips ready.
- Ensure your bank statement shows regular salary/business credits.
- Try to keep your total EMIs within 50-55% of monthly income.
- Ask the dealer for a pro-forma invoice before applying.
Bandhan Bank New Car Loan EMI Calculation
The table below provides an illustrative example of the EMI payable on a Bandhan Bank New Car Loan.
| Particulars | Details |
| Car On-Road Price | ₹10,00,000 |
| Loan Amount (90% Financing) | ₹9,00,000 |
| Down Payment | ₹1,00,000 |
| Loan Tenure | 7 Years (84 Months) |
| Illustrative Interest Rate | 9.50% p.a. |
| Estimated Monthly EMI | ₹14,500 – ₹14,800 |
Note – The above EMI is for illustration purposes only. The actual EMI may vary depending on the sanctioned loan amount, applicable interest rate, loan tenure, and Bandhan Bank’s prevailing banking policies.
Bandhan Bank New car Loan Schedule of Charges
| Sr. No. | Particulars | Applicable Charges |
| 1 | Processing Fee | Up to 4% of the loan amount |
| 2 | Stamp Duty Charges | Applicable as per prevailing state laws |
| 3 | Bounce Charges | ₹500 per instance |
| 4 | Penal / Default Charges | ₹200 per ₹10,000 of overdue dues for delayed payment of EMIs, outstanding EMIs, or defaulted EMIs |
| 5 | Part-Payment Charges | For Fixed Rate Loans – Part-payment is permitted once every year after completion of the initial 6 months of the loan tenure. The total part-payment amount cannot exceed 25% of the principal outstanding. Any amount exceeding 25% will attract a charge of 4% on the excess amount. For Floating Rate Loans – No part-payment charges are applicable. |
| 6 | Foreclosure / Pre-Closure Charges | 4% of the principal outstanding for fixed-rate loans. No charges are applicable for floating-rate loans. |
| 7 | Statement of Account (SOA) | ₹500 per statement |
| 8 | Loan Cancellation Charges | Up to ₹4,500 |
| 9 | Legal Charges | Charged on an actual-cost basis |
| 10 | Valuation Charges | ₹850 plus applicable GST |
Important Note – All charges listed above are exclusive of GST and other applicable taxes, which will be charged additionally as per prevailing regulations.
Bandhan Bank New Car Loan List of Documents Required
To apply for a Bandhan Bank New Car Loan, applicants must submit the following documents along with the completed loan application form.
| Document Category | Documents Required |
| Identity Proof | Copy of Aadhaar Card, PAN Card, Passport, Voter ID Card, Driving License or any other officially valid identity proof.(any one) |
| Address Proof | Copy of Aadhaar Card, Passport, Latest Utility Bill, Voter ID Card, Driving License, or any other valid address proof accepted by the bank. (any one) |
| Photographs | Recent passport-size photographs of the applicant. |
| Income Proof (Salaried) | Last 3 salary slips, Form 16 (if applicable), and salary account bank statements. |
| Income Proof (Self-employed) | Latest Income Tax Returns (ITR) along with computation and balance sheet and profit & loss account, audited financial statements (if applicable), business proof, and bank statements of both CC and Current Account. |
| Bank Statements | Recent bank account statements as required by the bank to assess repayment capacity. |
| Vehicle Documents | Proforma Invoice/Quotation issued by the authorized car dealer. |
| KYC Documents | Completed KYC documents as per the bank’s guidelines. |
Note: The document requirements may vary depending on the applicant’s profile, occupation, loan amount, and Bandhan Bank’s internal credit policy. The bank may request additional documents, if necessary, before sanctioning the loan if they needed.
Bandhan Bank New Car Loan Other Important Aspects
Part-Payment Facility (Fixed Rate Loans)
- Part-payment is permitted only once in a year after completion of the first six months of the loan tenure.
- The cumulative part-payment amount cannot exceed 25% of the principal outstanding.
- Any part-payment amount exceeding 25% of the outstanding principal will attract a charge of 4% on the excess amount.
Foreclosure & Pre-Closure Charges
Floating Rate Loans – No foreclosure or pre-closure charges are applicable.
Fixed Rate Loans – A prepayment or foreclosure charge of 4% of the principal outstanding amount will be levied.
Security for the Loan
The loan will be secured through hypothecation of the financed vehicle in favor of Bandhan Bank. The vehicle must have a clear and marketable title free from any existing encumbrances.
The applicant should –
- Maintain the vehicle in good condition throughout the loan tenure.
- Not create any lien, charge, or encumbrance on the vehicle without obtaining prior written consent from the Bank.
- Allow the Bank to inspect the vehicle whenever required during the loan period.
Insurance Requirements
Comprehensive insurance coverage for the financed vehicle must remain valid throughout the loan tenure. The insurance premium and renewal costs shall be paid entirely by the applicant.
Bandhan Bank New Car Loan Disbursement Process
Before loan disbursement following data should be submitted.
- The loan amount will be disbursed directly to the vehicle dealer’s bank account or through a demand draft issued in the dealer’s name.
- The applicant shall be responsible for payment of all applicable taxes, registration charges, and compliance with relevant central, state, and local laws governing vehicle ownership and usage.
Credit Bureau Reporting
Bandhan Bank is authorized to share loan-related information with credit bureaus approved by the Government of India and the Reserve Bank of India (RBI), without prior notice to the applicant.
The Bank may also seek credit information from other banks or credit bureaus whenever required. Delayed payments or defaults may adversely affect the applicants credit score and future borrowing eligibility.
In Case of any Default
In the event of non-payment or delayed payment of EMIs, the Bank may contact the applicant through:
- Telephone calls
- SMS messages
- Emails
- Letters and notices
- Collection agencies or authorized representatives
Any third-party collection agency engaged by the Bank will comply with the Indian Banks’ Association (IBA) Code of Conduct for Debt Collection.
The applicant remains solely responsible for ensuring timely payment of all EMIs and loan obligations.
Customer Acknowledgement
- Visit the nearest Bandhan Bank branch.
- Call the toll-free customer care number: 1800-258-8181
Charges and Fees
- GST and other applicable taxes may be levied on loan-related charges and fees.
- The Bank may receive upfront and/or trail commissions on insurance products recommended and availed by customers.
Loan Cancellation
- Applicable pro-rata interest charges may be payable in the event of loan cancellation.
- Processing fees and stamp duty charges are non-refundable and will not be refunded or waived if the loan is cancelled.
Vehicle/Asset Financing Disclaimer
- Bandhan Bank acts solely as a financing institution.
- After loan disbursement to the dealer, the Bank shall not be responsible for the vehicle’s quality, specifications, performance, colour, condition, delivery timeline, availability, or any associated parts and accessories.
- Any discount or promotional pricing offered on the vehicle or asset is solely at the discretion of the manufacturer or dealer.
Conclusion
A Bandhan Bank New Car Loan is a practical financing option for vehicle with affordable EMIs and flexible repayment terms.
With funding of up to 90% of the on-road price, repayment tenure of up to 84 months, competitive interest rates, and simplified documentation, the loan is designed to make car ownership more accessible.
Whether you are a salaried employee or a self-employed professional, Bandhan Bank offers a straightforward application process and customer-friendly features to help you to drive home your dream car with confidence.
Before applying, compare the available loan options, understand all applicable charges and terms, and choose a repayment plan that best fits your financial goals.
