Check minimum income required for a ₹9 Lakh car loan. EMI starts ₹18,530/month. Compare 23+ banks.
To get a ₹9 Lakh car loan, you need a minimum monthly income of approximately ₹33,691 (at the lowest rate of 8.65% for 5 years, assuming no existing EMIs).
| Bank | Rate | Monthly EMI | Min Income Required | Processing Fee |
|---|---|---|---|---|
| Tata Capital | 8.95 - 13.00% | ₹18,661 | ₹31,102/mo | 1% of loan amount + GST |
| Bajaj Finserv | 9.00 - 13.00% | ₹18,683 | ₹31,139/mo | Up to 2% of loan amount |
| Mahindra Finance | 10.00 - 18.00% | ₹19,122 | ₹31,870/mo | Up to 2.50% of loan amount |
| Bank of Baroda | 8.65 - 10.90% | ₹18,530 | ₹32,509/mo | ₹1,500 + GST |
| Union Bank | 8.70 - 10.70% | ₹18,552 | ₹32,548/mo | ₹1,000 + GST |
| Canara Bank | 8.75 - 10.50% | ₹18,574 | ₹32,586/mo | 0.50% + GST |
| Indian Bank | 8.80 - 10.30% | ₹18,595 | ₹32,623/mo | ₹1,500 + GST |
| IDBI Bank | 8.80 - 11.00% | ₹18,595 | ₹32,623/mo | 0.50% + GST |
| SBI | 8.85 - 9.55% | ₹18,617 | ₹32,662/mo | 0.50% of loan amount + GST |
| PNB | 8.85 - 10.30% | ₹18,617 | ₹32,662/mo | 0.50% + GST |
| Bank of India | 8.85 - 10.85% | ₹18,617 | ₹32,662/mo | 0.50% + GST |
| Central Bank | 8.90 - 10.90% | ₹18,639 | ₹32,701/mo | 0.50% + GST |
| Axis Bank | 8.70 - 12.50% | ₹18,552 | ₹33,731/mo | 0.50% of loan amount |
| Kotak Mahindra Bank | 8.70 - 12.00% | ₹18,552 | ₹33,731/mo | 0.50% of loan amount |
| HDFC Bank | 8.75 - 9.50% | ₹18,574 | ₹33,771/mo | 0.50% of loan amount |
| ICICI Bank | 8.75 - 9.60% | ₹18,574 | ₹33,771/mo | 0.50% of loan amount |
| IDFC First Bank | 8.75 - 11.50% | ₹18,574 | ₹33,771/mo | Up to 2% of loan amount |
| Federal Bank | 8.80 - 12.50% | ₹18,595 | ₹33,810/mo | 0.50% + GST |
| IndusInd Bank | 9.00 - 13.50% | ₹18,683 | ₹33,970/mo | 0.50% of loan amount |
| South Indian Bank | 9.00 - 12.00% | ₹18,683 | ₹33,970/mo | 0.50% + GST |
| Karur Vysya Bank | 9.10 - 12.00% | ₹18,726 | ₹34,048/mo | 0.50% + GST |
| Yes Bank | 9.25 - 13.00% | ₹18,792 | ₹34,168/mo | 1% of loan amount |
| Bandhan Bank | 10.00 - 14.00% | ₹19,122 | ₹34,768/mo | 1% + GST |
The EMI for ₹9 Lakh car loan at 8.65% for 5 years is approximately ₹18,530 per month.
You need a minimum monthly income of approximately ₹33,691 for a ₹9 Lakh car loan at 8.65% interest rate (assuming no existing EMIs and 55% FOIR).
The lowest interest rate for ₹9 Lakh car loan starts from 8.65% p.a. in 2026. Compare all banks above.
With a ₹30,000 monthly salary and no existing EMIs, your maximum car loan eligibility at 8.65% for 5 years is approximately ₹8.01 L.
The total interest on ₹9 Lakh car loan at 8.65% for 5 years is approximately ₹2.12 L.