• Diwali Offer - Compare Car Loan Interest Rates

    Banks and Non-Banking Financial Companies (NBFCs) offer various discounts on cars and car loans during Diwali. Given in the table below are the interest rates and features of some of the banks that offer car loans:

    Bank Interest Rate Features of the loan
    HDFC Bank 8.80% and 10.00% p.a. (Rack Interest)
    • Provides car loans up to 100% of the on-road cost of the car.
    • For new cars, the tenure ranges from 1 to 7 years. For used cars the repayment period ranges between 12 months to 60 months.
    • No guarantor is required.
    Federal Bank 8.75% p.a. onwards
    • Auto loan provided up to 100% of the car’s ex-showroom price.
    • Repayment tenure of up to 84 months.
    • Quick processing.
    • Competitive interest rates.
    Axis Bank 8.75% onwards
    • The minimum loan amount available is Rs.1 lakh.
    • Repayment period ranges from 1 year to 7 years.
    • No guarantor is required.
    • There is an option for part payment and foreclosure with a nominal fee.
    State Bank of India Interest rates start from 7.70% p.a.
    • Loan repayment tenure up to 7 years.
    • Loans are provided on the on-road price of the car.
    • No advance Car Lon EMI required.
    • Up to 90% of the on-road price of the car may be provided as loan
    ICICI Bank 7.90% onwards
    • Loan tenures ranges up to 7 years.
    • Up to 100% of the on-road price of the car may be provided as a loan.
    • No guarantor required.
    • Quick approval.
    IndusInd Bank Contact the bank
    • Up to 100% of the cost of the car may be provided as a loan.
    • Repayment tenure of up to 60 months.
    • Attractive interest rates.
    • The loan processing time is quick.
    Union Bank of India 7.40% p.a. onwards
    • 85% of the on-road price of the car may be provided as a loan.
    • Repayment tenure of up to 84 months.
    • Attractive interest rates.
    • No guarantor is required.

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