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Interest Rates

Our Used Car loan interest rates start at 15% are competitive amongst the other players in the industry. However, depending on loan eligibility, income, your Used Car and other criteria, we determine the best interest rates for your Used Car loan requirement.

When you apply for a Used Car Loan with Tata Capital, you do not have to worry about any hidden charges. Whether it is related to processing fees, foreclosure charges, or delayed EMI Payments, all information is transparently-provided for smooth processing of your Used Car.

Processing Fee

Refinance Processing Fees: 1.75% of the loan amount or ₹ 5,000 per vehicle, whichever is higher + GST

Repurchase Processing Fees: 1.50% of the loan amount or ₹ 6,000 per vehicle, whichever is higher + GST


We offer second hand car loan amount equivalent up to 95% of the value of the used car. On select cars, we even finance 100% value of the used car.

Penal Interest / Additional Interest

3% on Overdue Amount per month + GST

Miscellaneous Charges

Bounce Charges

₹ 600 for every Cheque/ Payment Instrument/ ECS Dishonour + GST

Foreclosure Charges

5% of the principal outstanding at the time of foreclosure + GST or ₹ 5000, whichever is higher

Mandate Rejection Service Charge

₹ 450 + GST

Charges will be applicable on your EMI Due date in case the account does not have an Active mandate after the exhaustion of the given post-dated cheques. This charge would be applied every month until there is an Active Mandate linked to the account.

Statement of Accounts

Soft Copy – Nil

Branch walk in - ₹ 250 + GST

Loan Cancellation Charge

₹ 6,500

Instrument swap charges

₹ 550 + GST

Duplicate Repayment Schedule

₹ 550 + GST

Duplicate NOC

₹ 550 + GST

Valuation Charges

₹ 750 + GST

NOC for Interstate Transfer

₹ 1000 + GST

Stamp Duty

If Loan amount is less than ₹ 5 lacs (0.1% + ₹ 700)

if loan amt if  more than ₹ 5 lac (0.2% + ₹ 700)

Broken Period Interest

At Actuals

NACH / PDC Charges

₹500 + GST

Foreclosure Report


Detailed FAQs

Imported vehicles are also funded on case-to-case basis. The lending rates are dependent on various factors including cost of funds, customer credentials, geography, asset, tenor and discounts offered in the market. Tata Capital ensures that you get a transparent and good deal at the time of availing the Used Car Loan.

The loan can be repaid through ECS, Direct debit and post-dated cheques drawn on "Tata Capital Financial Services Limited".

No, the EMI is fixed for the life of the loan. However, we offer flexible solutions to fit your requirement.

At Tata Capital, we offer Used Car Loans with multiple repayment options. Our Flexi EMIs allow you to choose a plan that suits your need as per your cash flow.

Fixed EMI

You get to choose the Used Car Loan EMI Plan that suits your cash flow. Flexible EMI plans include. Under Fixed EMI, the interest and principal component charged to you is fixed during the entire loan tenure.

EMI amount remains the same for the entire used car loan period

Ideal if

You have a consistent income

Structured EMI

Our Structured EMI option allows you to select a repayment method that suits you best

Customised EMI options as per your requirement

Ideal if

You expect your income to increase at regular intervals

It takes us 24-36 hours from the completion of documentation to sanction a used car loan.



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