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Home CURRENT AFFAIRS BUSINESS Car Loan: Get The Lowest Interest Rate On Auto Loans; Checkout Top...

Car Loan: Get The Lowest Interest Rate On Auto Loans; Checkout Top Lending Options Here

Car Loan: Here, we will compare all the major lenders offering some of the best car loan schemes at lower interest rates. Checkout more details below.

Car Loan

Car Loan: In India, buying a car is considered as a big investment meant for atleast 3-5 years, its because in our country, even the most affordable new car costs around 4-5 lakhs, in this case, it is very cruicial to have atleast this much amount of money to buy a car, when people don’t have required finances, they prefer to take loans. In the Indian automobile market, a big proportion of people take car loan to buy a new car, but they need to take some takeaways into consideration when taking car loans, it eventually gets a hectic and burdensome process for you. Here, in this article, we will compare all the major lenders offering some of the best car loan schemes at lower interest rates. Checkout more details below.

Car Loan: Interest Rates Compared

Bank Car Loan Interest Rates (Per annum)Processing Fee
State Bank Of India8.65% Upto Rs. 2000
Axis Bank9.15% Miniumum- Rs. 3500
Maximum- Rs. 12000
Bank Of Baroda 8.70% Rs. 2500
Canara Bank 8.80% 0.25% of the loan
Minimum- Rs. 1000
Maximum- Rs. 5000
Federal Bank 8.85%Not Provided by the bank
ICICI 8.95%Not Provided by the bank

Top Car Loan Products Customers Can Option For

Made For Bank Interest Rates
(PerAnnum)
Tenure Maximum Loan AmountOthers
For Luxury VehiclesHDFC 8.85% 84 months 10 Crore 100% Financing on road price for selected models
For Professionals and Agriculturists with no income proofState Bank Of India8.85% 84 months 90% of the vehicle’s on-road priceFor professionals and agriculturists
Small LoansAxis Bank9.15%96 months100% of the on-road priceloan of Rs.1 lakh
Free Personal Accident InsuranceFederal Bank8.85%84 months100% of the ex-showroom price can be availed100% of the ex-showroom price can be availed
Low-Interest Rates for Used Cards and New CarsCanara Bank8.80%84 months90% of the on-road priceLower interest rates are provided for women
Long Repayment TenureICICI Bank8.95%7 yearsNot provided by the bankMinimal documents need to be submitted.

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