Get pre-approved for the best car loan. Compare rates, fees & tenure from 25+ banks.
Lowest starting rate at 8.70%. Up to 100% on-road price funding. Dedicated relationship manager for the entire process.
Approval in 30 minutes for existing customers. Up to 90% funding with flexible repayment options. Wide dealer network.
Trusted public sector bank with zero prepayment charges after 6 months. Low processing fee and up to 7-year tenure.
EMI calculated for ₹8 Lakh at default tenure. Sorted by interest rate (lowest first).
| Bank | Interest Rate | EMI (₹8 Lakh) | Max Tenure | Processing Fee | |
|---|---|---|---|---|---|
| Bank of Baroda | 8.65 - 10.90% | ₹16,471 | 7 yrs | ₹1,500 + GST | Get Pre-Approved → |
| Axis Bank | 8.70 - 12.50% | ₹16,490 | 7 yrs | 0.50% of loan amount | Get Pre-Approved → |
| Kotak Mahindra Bank | 8.70 - 12.00% | ₹16,490 | 7 yrs | 0.50% of loan amount | Get Pre-Approved → |
| Union Bank | 8.70 - 10.70% | ₹16,490 | 7 yrs | ₹1,000 + GST | Get Pre-Approved → |
| HDFC Bank | 8.75 - 9.50% | ₹16,510 | 7 yrs | 0.50% of loan amount | Get Pre-Approved → |
| ICICI Bank | 8.75 - 9.60% | ₹16,510 | 7 yrs | 0.50% of loan amount | Get Pre-Approved → |
| Canara Bank | 8.75 - 10.50% | ₹16,510 | 7 yrs | 0.50% + GST | Get Pre-Approved → |
| IDFC First Bank | 8.75 - 11.50% | ₹16,510 | 7 yrs | Up to 2% of loan amount | Get Pre-Approved → |
| Indian Bank | 8.80 - 10.30% | ₹16,529 | 7 yrs | ₹1,500 + GST | Get Pre-Approved → |
| IDBI Bank | 8.80 - 11.00% | ₹16,529 | 7 yrs | 0.50% + GST | Get Pre-Approved → |
| Federal Bank | 8.80 - 12.50% | ₹16,529 | 7 yrs | 0.50% + GST | Get Pre-Approved → |
| SBI | 8.85 - 9.55% | ₹16,549 | 7 yrs | 0.50% of loan amount + GST | Get Pre-Approved → |
| PNB | 8.85 - 10.30% | ₹16,549 | 7 yrs | 0.50% + GST | Get Pre-Approved → |
| Bank of India | 8.85 - 10.85% | ₹16,549 | 7 yrs | 0.50% + GST | Get Pre-Approved → |
| Central Bank | 8.90 - 10.90% | ₹16,568 | 7 yrs | 0.50% + GST | Get Pre-Approved → |
| Tata Capital | 8.95 - 13.00% | ₹16,587 | 7 yrs | 1% of loan amount + GST | Get Pre-Approved → |
| IndusInd Bank | 9.00 - 13.50% | ₹16,607 | 7 yrs | 0.50% of loan amount | Get Pre-Approved → |
| South Indian Bank | 9.00 - 12.00% | ₹16,607 | 7 yrs | 0.50% + GST | Get Pre-Approved → |
| Bajaj Finserv | 9.00 - 13.00% | ₹16,607 | 7 yrs | Up to 2% of loan amount | Get Pre-Approved → |
| Karur Vysya Bank | 9.10 - 12.00% | ₹16,646 | 7 yrs | 0.50% + GST | Get Pre-Approved → |
| Yes Bank | 9.25 - 13.00% | ₹16,704 | 7 yrs | 1% of loan amount | Get Pre-Approved → |
| Bandhan Bank | 10.00 - 14.00% | ₹16,998 | 5 yrs | 1% + GST | Get Pre-Approved → |
| Mahindra Finance | 10.00 - 18.00% | ₹16,998 | 7 yrs | Up to 2.50% of loan amount | Get Pre-Approved → |
Know your exact monthly EMI, total interest, and get a full amortization schedule.
Open EMI Calculator →Axis Bank and Kotak Mahindra Bank offer the lowest car loan rates starting from 8.70%. SBI follows closely at 8.85%. Rates vary based on the car model, loan amount, and your credit profile.
Most banks fund up to 80-90% of the car's ex-showroom price. Some banks like Axis Bank offer up to 100% on-road price funding for select models. Your eligibility depends on income, credit score, and existing loans.
Bank loans usually offer lower interest rates (8.70-10%) compared to dealer financing (9-12%). However, dealers may offer special schemes or cashbacks. Always compare both options before deciding.
A 3-5 year tenure offers the best balance between affordable EMI and total interest cost. Avoid 7-year tenures as you'll pay significantly more interest and the car depreciates faster than you repay.
Yes, most banks allow car loan prepayment. SBI charges nil after 6 months, while some private banks may charge 2-5% of outstanding. Part-prepayment is a great way to save on interest.