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Saturday, July 29, 2023

Best Car Loan with a 750 Credit Score 2023

 Hello Readers 

                          Today's post is all about whether can you apply for a car loan with a 750 credit score or not so if you want to know the answer then read this post till the end.

best car loan with a 750 credit score
best car loan with a 750 credit score

A car loan is a financial assistance that is given by a bank or any financial institution to any person to buy a car without paying the entire amount upfront.

This loan amount has to be paid by the individual in the form of monthly installments and credit score matters a lot for such loans.

That's why we talk about car loans with a 650 credit score so if your credit score is near 650  then you can read this post.

Now let's start our article:

Eligibility Criteria For Car Loan With 750 Credit Score

You can check the eligibility criteria in the table given below

Eligibility CriteriaDetails
Minimum AgeAt least 21 years old
Credit Score750 or above
Income StabilityStable and regular source of income
Employment HistorySteady employment record
DocumentationValid identity, address, income proof, and bank statements

How to Improve Your Chances of Approval

Let's check the important points for instant approval

Tips to Improve Approval ChancesExplanation
Timely Bill PaymentsPay all bills on time, including credit cards and utilities.
Reducing DebtsTry to pay off existing debts to lower your credit utilization ratio.
Limited Credit ApplicationsAvoid making multiple credit inquiries within a short period.
Monitor Credit ReportRegularly review your credit report for errors and discrepancies and improve your credit score.
Choose Affordable CarOpt for a car that fits within your budget to avoid financial strain and make repayments more manageable.
Higher Down PaymentOffering a higher down payment reduces the loan amount.
Co-Applicant or GuarantorHaving a co-applicant or guarantor with a stronger credit profile like a family member.

best car loan with a 750 credit score

Let's Check some  car loan  for a 750 credit score:

Loan DetailsICICI Bank Car LoanAxis Bank Car LoanPNB Car LoanIDBI Bank car loan
Interest Rate (Floating)13.75% (approximately)7.35% per annum8.75% to 9.60% p.a.8.75% p.a. onwards

1.) Axis Bank Car Loan

If you too are looking for a car loan under a 750 credit score with low interest, then Axis Bank Car Loan can be a good option for you.

This loan goes from Min Loan Amount ₹ 100,000 to 90% of On Road Price or 100% of the Ex-showroom Price which is quite attractive.

Now let's look at other features

Loan Details
Interest Rate7.35% per annum
Min Loan Amount₹ 100,000
Max Loan Amount (Loan to Value)Up to 90% of On Road Price or 100% of Ex-showroom Price
Loan Tenure1 year to 7 years
Lowest EMI / Lac₹ 1,526
Minimum Net Monthly Income₹ 15,000
Minimum ITR for Self Employed₹ 300,000
Age CriteriaSalaried: 21 years to 60 years
Self-Employed: 21 years to 65 years
Types of CarsFor All New Passenger Cars, Multi Utility Vehicles (MUVs), and Sport Utility Vehicle (SUVs).
Axis Bank Car Loan Processing Fee0.40% of the principal amount
Foreclosure ChargesNo foreclosure charges are levied after the first 12 EMIs
Up to 2% before the first 12 EMIs
Documentation RequirementID Proof, Address Proof, Salary Slip, Bank Statement, and Car Quotation

2.) PNB Car Loan With a 750 credit score

Let us now talk about our next car loan which is PNB Car Loan. PNB also offers car loans with a 750 credit score at an interest rate of 9.80% p.a. Is.

Now if we talk about more requirements

Loan Details
Floating Interest Rate8.75% to 9.60% p.a.
Fixed Interest Rate8.85% p.a.
Loan TenureNew Car: Up to 7 years
Used Car: Up to 5 years
Processing FeeRs. 1,000 to Rs. 1,500
Loan AmountUp to Rs. 1 crore or 25 times the net monthly income, whichever is lower
Lowest EMI per lakh (Fixed rate)Rs. 802 (At 9.50% p.a. fixed interest rate for 7-year tenure)
Proposed Inspection ChargesNil
Prepayment ChargesFloating rate: Nil
Fixed rate: 2% of the outstanding pre-paid

3.) ICICI Car Loan For CIBIL score of 750

Let us now talk about our third choice a car loan from ICICI Bank. You should have a minimum CIBIL score of 750 for an ICICI Bank Car Loan, only then you can apply for the car loan.

Now if we talk about the requirement apart from CIBIL score, then for ICICI Bank Car Loan then 

Loan Details
Amount of Loan100% of the on-road price
Rate of Interest13.75% (approximately)
Tenure7 years
Processing FeesStarting from Rs. 3,500 to Rs. 8,500
Prepayment Charges5% of principal outstanding

4.) IDBI Bank car loan

IDBI Bank car loan is our fourth choice, in this loan, you get to see the interest rate between 9.30% to 9.90%, which depends on credit score, income, down payment, loan period, etc.

Loan Details
Interest Rate (Floating)8.75% p.a. onwards
Interest Rate (Fixed)9.20% p.a. onwards
Loan TenureUp to 7 years
Processing FeeRs. 1,000 plus taxes
Lowest EMI per lakhRs. 1,624
Prepayment Charges1% Documentation charges
According to the actual cost
Penal Interest Charges2% p.a.


Here in this post, we add some best car loan with 750 credit score so if you are searching for a car loan with 750 credit score then you should read our post till the end.

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