Tata Capital vs Bajaj Finserv Used Car Loan: Which Is Better in October 2026?
60-Second Verdict
Bajaj Finserv starts lower at 13.00% (versus Tata Capital's 13.75% Velocity rate) and works at every loan size, making it cheaper for prime borrowers and loans under ₹6 lakh. Tata Capital wins when your CIBIL is 740+ on a ₹6 lakh+ loan and you want a locked 13.75% Velocity rate or a slightly lower 15.75% ceiling.
Tata Capital vs Bajaj Finserv: Side-by-Side Comparison (October 2026)
| Parameter | Tata Capital | Bajaj Finserv |
|---|---|---|
| Interest rate | 13.75% to 15.75% | 13.00% to 16.00% |
| Prime CIBIL offer | 13.75% flat (CIBIL 740+, loan ₹6L+) | From 13.00% based on credit profile |
| Standard band | 15.00% to 15.75% | 13.00% to 16.00% |
| Rate ceiling | 15.75% | 16.00% |
| Best for | CIBIL 740+ on ₹6L+ (Velocity) | Loans under ₹6L & fast digital NBFC sanction |
Who wins by loan size and credit score
What the difference costs: on a ₹5 lakh, 5-year loan where Tata charges its 15.00% standard rate and Bajaj offers 13.50%, Bajaj saves ₹387 a month and ₹23,220 in interest.
| Profile | Winner | Why |
|---|---|---|
| Under ₹6 lakh, CIBIL 750+ | Bajaj Finserv | 13.00% start vs Tata's 15.00% standard band |
| ₹6 lakh+, CIBIL 740+ | Close call | Bajaj starts at 13.00%; Tata locks 13.75% Velocity |
| CIBIL 680–739 | Tata Capital (ceiling) | Tata caps at 15.75% vs Bajaj's 16.00% |
When to pick Tata Capital
Choose Tata Capital when you are borrowing ₹6 lakh or more with a CIBIL score of 740+ to lock in the 13.75% Velocity rate, or when you want a 15.75% rate cap.
When to pick Bajaj Finserv
Choose Bajaj Finserv when borrowing under ₹6 lakh with good credit, or when you already hold a Bajaj Finserv pre-approved relationship.
When neither Tata Capital nor Bajaj Finserv is your best option — consider Poonawalla Fincorp
Among prime NBFCs, Poonawalla Fincorp runs from 12.51% to 15.01%, undercutting both on floor and ceiling. See Tata Capital vs Poonawalla Fincorp. You can also compare all used car loan options on our 27-lender interactive calculator.
Related Lender Comparisons
Frequently Asked Questions (Tata Capital vs Bajaj Finserv)
Is Tata Capital or Bajaj Finserv cheaper for a used car loan?+
Bajaj Finserv has a lower starting rate (13.00% vs 13.75%), especially on loans under ₹6 lakh where Tata Capital's Velocity rate does not apply. On ₹6 lakh+ with CIBIL 740+, Tata Capital's flat 13.75% Velocity rate is very competitive.
What is Tata Capital's Velocity rate?+
Velocity is Tata Capital's prime used car loan tier offering a 13.75% p.a. rate for borrowers with a CIBIL score of 740 or above borrowing ₹6 lakh or more.
Are both Tata Capital and Bajaj Finserv NBFCs?+
Yes, both are large RBI-registered upper-layer NBFCs with fast digital processing across India.