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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