• 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.
    HDFC Bank Diwali Offer 7.50% (p.a.) onwards
    • Valid from 15 September 2021 up to 30 November 2021.
    • 100% funding.
    • Top-up loans at 10.75% onwards.
    • Government employees get special benefit.
    • No foreclosure charges.
    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
    State Bank of India Diwali Offer 7.25% onwards
    • Instant approval
    • 0.50% concession in rate of interest
    • No processing fees.
    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.
    ICICI Bank Diwali Offer

    7.50% onwards for new car

    10.5% onwards for used car

    • Flexi EMI/lakh starting Rs.799 onwards.
    • Up to 8 years of tenure.
    • Funding for accessory available.
    • Customised repayment option.
    • Up to 100% loan available for on-road price.
    • No foreclosure and part pre-payment charges.
    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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