Quick Answer: Which Bank Has The Lowest Car Loan Interest Rate??

Car Loan Interest Rate Comparison for All Banks, Lowest EMI, Best Rates in India

Bank Car Loan Interest Rates Lowest EMI per lakh for Max Tenure
Axis Bank 9.25% Fixed ₹ 1,478 for 8 years
IndusInd Bank 10.65% Fixed ₹ 2,157 for 5 years
Kotak Bank 11.50% Fixed ₹ 2,199 for 5 years
PNB 8.75% Floating ₹ 1,596 for 7 years

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What is a good used car loan interest rate?

Cost of a $16,000 Five-Year Car Loan on a Used Vehicle

Credit Score Interest Rate Monthly Payment
750+ 4.17% $296
700-749 4.19% $296
650-699 7.37% $320
450-649 12.76% $362

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Is it better to finance a car through a bank or dealership?

Financing Through the Dealer

Dealer-arranged financing works the same way as bank financing—the only difference is that the dealer is doing the work on your behalf. In general, you can usually get lower interest rates on a new car through a dealer than on a used car.

Which bank is best for car loan?

Best Car loan Interest Rates India October 2019

Car loan Banks Interest Rates EMI per Rs 1 lakh for 7 Years
HDFC Bank 8.50% – 11.25% Rs. 1,584 – Rs. 1,725
ICICI Bank 8.82% – 12.75% Rs. 1,600 – Rs. 1,806
IDBI Bank 9.00% – 9.10% Rs. 1,609 – Rs. 1,614
Indian Bank 9.00% Rs. 1,609

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