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Which Bank Is Offering The Lowest Car Loan Interest Rate?

BankBazaar.com logo BankBazaar.com 30-05-2019 Team BankBazaar
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Car loans have made owning a car easy and in case you are planning to buy, it is wise to compare the interest rates to bag the best deal. Take a look at interest rate offered by different banks and how much EMI you will have to pay in case you take a loan of Rs. 1 lakh for a tenure of 5 years.

Interest Rates on New Car Loan
EMI range based on Loan Amount Rs 100000 for tenure of 5 years
Lender’s Name Floating Rate (%) EMI (In Rs)
Allahabad Bank 8.9- 11.15 2071- 2182
Axis Bank 9.15-11.4 2083- 2194
Bank of India 9.3- 9.9 2090- 2120
Bank of Maharashtra 9.2- 10.45 2080- 2147
Central Bank 8.95 2073
Corporation Bank 8.9- 10.05 2071- 2127
Dena Bank NA NA
HDFC Bank 9.75- 10.6 2112- 2154
ICICI Bank 9.3-12.85 2090- 2268
J&K Bank 9.7 2110
Karnataka Bank 9.6- 10.65 2105- 2157
Punjab National Bank 9.05- 9.5 2078- 2100
State Bank of India 9.4- 9.9 2095 – 2120
UCO Bank 9.05 2078
United Bank of India 9.05- 9.1 2078- 2081
Note :
The EMI range is indicative and calculated on the basis of interest rate range as provided in the table. In actual situation it may include other fees and charges as per bank’s t&c. Actual applicable interest rate may vary based on the credit profile, loan amount, tenure and as per bank’s discretion
Data taken from respective bank’s website as on 29 May 2019

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