Car Loan Interest Rate:  If you are planning to buy a new car before Diwali or this festive season and want to avail of a car loan at the lowest interest rate, then you should compare the car loan interest rates of almost all banks.  In this article, we have talked on interest rates and EMIs on car loans from some major banks, so that you can choose the right loan as per your needs.  By considering the offers of all these banks, you can choose the right car loan as per your requirements and budget. 

If you take a car loan of Rs 10 lakh then you must think about the EMI as well, we have calculated the EMIs so that it could be easier for you to understand.

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Union Bank of India

Union Bank of India, a leading public sector bank, is offering a car loan at an interest rate of 8.70% on a car loan of Rs 10 lakhs. At this interest rate, your EMI will be Rs 24,565.

State Bank of India (SBI)

SBI is offering a car loan at an interest rate of 8.75%, which will translate to a monthly EMI of Rs 24,587. Punjab National Bank, Canara Bank and Indian Bank are also offering car loans at the same interest rate.

Bank of India

Bank of India is offering a car loan at an interest rate of 8.85%, in which your monthly EMI will be Rs 24,632.

Bank of Baroda

Bank of Baroda is offering car loans at an interest rate of 8.90% for four years. At this interest rate, your monthly EMI will be Rs 24,655.

ICICI Bank

ICICI Bank is offering a car loan of Rs 10 lakh at an interest rate of 9.10%. Your monthly EMI on this will be Rs 24,745.

Axis Bank

Axis Bank is offering a car loan at an interest rate of 9.30%, and your EMI on this will be Rs 24,835.

HDFC Bank

HDFC Bank is offering a car loan of Rs 10 lakh at an interest rate of 9.40%, in which you will have to pay a monthly instalment of Rs 24,881 every month.

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