If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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    Car Loan Interest Rates

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.25% - 12.5% Fixed
    Up to ₹2,300 One time fee
    75K Min
    1-7 Years
    Response Time Within 30 minutes
    Paperless approval option available
    13.1% - 15% Floating
    20,000 - 10L
    1-5 Years
    Response Time Within 30 minutes
    Paperless approval option available
    9.50% - 10.75% Fixed
    Up to ₹ 6,153 One time fee
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    9.5% - 15% Fixed
    Up to ₹5500
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    9.25% - 11.25% Fixed
    Up to ₹5,150 One time fee
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    Paperless approval option available
    9.85% Floating
    0 One time fee
    1L - 2Crs Women's Special!
    1-7 Years
    Response Time Within 30 minutes
    13% - 14.5% Floating
    0.75% One time fee
    ₹ 1.5L - ₹ 25L
    1-7 Years
    Response Time Within 30 minutes
    100% financing on car value
    9.95% Floating
    0 One time fee
    1L - 2Crs
    1-7 Years
    Response Time Within 30 minutes
    16% Fixed
    1.25% (Min. ₹ 5,175) One time fee
    50,000 - 15L
    1-4 Years
    Response Time Within 30 minutes
    17% - 23% Floating
    1% One time fee
    50,000 - 15L
    1-4 Years
    Response Time Within 30 minutes
    11.95% Floating
    0 One time fee
    1L Min
    1-3 Years
    Response Time Within 30 minutes
    12% - 13% Fixed
    1% One time fee
    50000 - 10L
    1-4 Years
    Response Time Within 30 minutes

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    Car is like your second home, where you spend most of your time with your loved ones after your own home. Because of the increase in traffic, cost of the public transport, and an increase in pollution, car seems to be the better option to take and has become a necessity in today’s world. But, most of us do not always have bulk amount in the accounts to purchase a car. So, the banks have given us an option to have a car loan where majority of the funds will be financed by the bank. And we have to pay some interest on the loan amount along with the principle amount in the form of EMI’s. So, let’s have a look at the car loan interest rates provided by some major banks:

    Bank NameCar loan interest rates

    Axis Bank Car loan
    9.5% to 15%

    Dena Bank Car loan

    Federal Bank Car loan

    HDFC Bank Car loan
    9.25% to 11.25%

    ICICI Bank Car loan
    9.50% to 10.75%

    L&T Finance Limited Car loan
    11% to 12%

    Therefore, these are the car Loan interest rates offered by some major banks and financial institutions in India. The lowest interest rate one can get is @10.40% provided by SBI, followed by 10.50% that is provided by the top 3 private sector banks including HDFC Bank, ICICI Bank and an Axis Bank. All these rates are very competitive in nature and provides a cheap source of car loan to the customers, fulfilling their dream of riding their own wheels.

    One must check the car loan interest rates and compare them among different loan providers to get the best quote on their eligibility, net income, loan tenure and the loan amount. You can compare the car loan interest rates at BankBazaar and can hit the balloon that you want to get. It will make easy in choosing the right loan for you.

    BankBazaar also provides you with facility of calculating your EMI’s after knowing your car loan interest rates. You can calculate it after putting the requisite information like, loan amount, loan tenure and interest rate that will help you in making the right decision for your bit.

    So, want to drive your car home? Check the car loan interest rates, compare it and get your car in few days!

    Car Loan Interest Rates for Dussehra – October 2016

    Dussehra calls for zealous celebrations filled with tradition and happiness. Not only is it an auspicious time to start new ventures and buy new things, it is also filled with amazing discounts, offers and deals. Jewellers, retailers and dealers gear up for the special season well in advance. Dussehra is an optimal time to buy a car, be it new or used. Banks and financial institutions offer varied schemes and competitive interest rates to help customers drive home in their own car. Loans are available for new cars and pre-owned cars. Compare different interest rates offered by banks and nonbanking financial institutions on BankBazaar. Interest rates offered by banks are subject to change from time to time. BankBazaar can help you find a car loan that will be convenient for you and suitable to your budget.

    Car Loan Interest Rates for Diwali – October 2016

    This Diwali, a number of banks have put their best foot forward by offering great deals on car loans. Find your ideal car loan when you shop on BankBazaar. You can browse through a list of car loans on the market. View and compare details and interest rates of various offers to make an informed decision. You can also check your eligibility for car loans on the BankBazaar portal. Based on your age, income, employment and other relevant details, BankBazaar can help you find an ideal loan that will fit comfortably into your budget. It is important to note that interest rates offered by banks are subject to change periodically.

    News About Car Loan Interest Rate

    • Datsun redi - GO Hatchback all set to take the market by storm

      One of Japan’s finest carmakers, Datsun is all set to launch its all new hatchback model redi - GO by the end of June. The redi - GO concept was initially launched at the 2014 Indian Auto Expo by Datsun. The Japanese carmaker also revealed the production version in April 2016.

      The redi - GO hatchback model scores well in terms of space and this car can comfortably accommodate four people. The car is taller than the Kwid and features a CMF - A platform. Datsun redi - Go comes with a ground clearance of 185 mm which will help the car tackle bad roads in a comfortable manner. Coming to the interiors, the redi - GO missed out on infotainment systems but flaunts an intelligent interior design. The redi - GO is expected to be priced between Rs. 2. 5 lakhs to Rs. 3. 5 lakhs.

      Planning to purchase the Datsun redi - GO? Check out exciting car loan offers at BankBazaar, also plan your finances ahead with BankBazaar’s Car Loan EMI Calculator.

      3rd June 2016

    • Volkswagen looks to gain a 15% production hike with the Ameo launch.

      With Ameo being launched in July, Volkswagen is counting on the compact sedan’s performance to improve its foothold in the Indian automobile industry. The leading car manufacturer is hoping to get a 15% production hike with the launch of the new vehicle. The Volkswagen Ameo is expected to compete with vehicles like Ford Figo Aspire, Hyundai Xcent and Maruti Dzire. The Ameo is under four metres in length and has been designed according to the traditional VW philosophy. The Volkswagen Ameo is available as petrol and diesel variants, with a 5-speed manual transmission. High-end variants of the Ameo will carry a DSG gearbox option. Car lovers across the country can approach any lender to procure a car loan and take home the all-new Volkswagen Ameo.

      25th May 2016

    • Awaiting the launch of Tata Kite 5, which has been seen tested on public roads

      Tata Motors’ Tata Kite 5, whcih was unveiled at the 2016 Auto Expo, was spotted testing on Indian roads. This compact sedan is based on Tata Motors’ Tiago hatchback and features the same engine as well. The car’s diesel version will feature the 1.05-litre Revotorq unit which produces 140Nm of torque and 70PS of power. The car’s petrol version will feature 1.2-litre Revotron unit which produces 114Nm of torque and 83PS of power. Both versions of the car will have a 5-speed manual gearbox. It is expected that the launch of the car will be in the upcoming festive season.

      13th May 2016

    • Toyota to launch Innova Crysta on May 5

      Toyota Motors is all set to launch the new Innova Crysta on May 2, pricing it between Rs 12 and 18 lakh. The successor of the hugely successful Innova, the Crysta will be available in both petrol and diesel engine, with the option to choose between a manual and automatic transmission. The new car gets a complete makeover compared to its predecessor and Toyota hopes that it will retain the market share it occupied with the old Innova.

      4th May 2016

    • Aston Martin DB11 revealed

      Images of the new Aston Martin DB11 has been revealed before its official reveal date. The car is scheduled to be revealed at the Geneva Motor Show later this year. The leaked images reveal that the car is very stylish and the designs have been slightly influenced by the other Aston Martin car models. This car will have a new 5.2 litre twin turbo V12 engine, which will result in a power of around 600 PS. If you want to own this car, you can apply for a car loan on BankBazaar and avail attractive rates of interest.

      21st March 2016

    • Volvo reveals the V40 before its debut

      Swedish automaker, Volvo, has revealed pictures of the new version of the V40. The car is set to debut in the upcoming Geneva Motor Show. The new model gets a facelift to ensure it is in sync with the rest of the series of Volvo cars. The 2017 V40 also gets the new LED headlights with Thor’s hammer, the new mark of Volvo. This mark has already been made on the S90 and XC90. The new V40 also gets a new grille and an Iron Mark logo. The interiors of the car will see a City Weave upholstery, similar to the one seen on the Estate Concept model.

      The Volvo V40 will be fitted with a less pollutant D2 2.0 litre 4-cylinder engine. The automaker is expected to unveil the V40 and The V90 on March 1st 2016. Once a price tag is hitched to the car, interested buyers can plan their finances through car loans or other means to purchase the V40.

      11th March 2016

    • Car Loan Interest Rate May Decrease only in March

      The Reserve Bank of India is holding policy rates leading to banks being unable to cut interest rates any time soon. Car loan applicants will not see any relief in interest rates at least till March. RBI is currently expecting fiscal reforms to play a role in easing bottlenecks. RBI might cut rates only after the Budget in March. It is awaiting more information and data on inflation development. The coming Union Budget will have structural reforms that control spending and boost growth. This will enhance the growth support the monetary policy can provide. It will also be able to ensure that the inflation rate remains at 5% by the end of the fiscal year.

      22nd February 2016

    • Cheap Auto loans & Increased Interest Rates!

      Car loan interest rates has been increasing subtly and it is more apparent than ever this year, though going by usual standards, they are still pretty low. Most customers will shell out only a few bucks more every month than they normally would have when interest rates on practically all kinds of vehicle financing dipped in 2013. Automobile firms also offer cut-price loans on more designs this season.

      The average interest rates for cars and trucks, be it new or used, have escalated by more than 25 percent as per a recent survey. The less you disburse to fund a new ride, the more reasonable will be your EMIs.

      20th May 2015

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