Car Loan Interest Rate 2024: Are you planning to buy a car? Here we are telling which bank is offering the cheapest car loan. Union Bank of India, State Bank of India and ICICI Bank are offering car loans at low interest.
Car Loan Interest Rate 2024: Are you planning to buy a car? Here we are telling which bank is offering the cheapest car loan. Union Bank of India, State Bank of India and ICICI Bank are offering car loans at low interest rates. These banks are offering car loans up to ₹10 lakh for a period of four years at interest rates ranging from 8.70% to 9.10%.
Union Bank of India
Public sector Union Bank of India is charging up to 8.70 percent interest on new car loans of Rs 10 lakh for a period of four years. In this the EMI will be Rs 24,565.
State Bank of India
India’s largest bank State Bank of India is charging interest at the rate of 8.75 percent on car loan. Other banks including Punjab National Bank, Canara Bank and Indian Bank are also offering car loans at 8.75 percent interest for a period of four years. In this the EMI is Rs 24,587.
Bank of India
Bank of India charges 8.85 percent interest on such car loan, whose EMI is Rs 24,632.
Bank of Baroda
Bank of Baroda charges an interest rate of 8.90 percent on a new car loan of Rs 10 lakh for a tenure of four years. EMI in this case will be Rs 24,655.
ICICI Bank
Private bank ICICI Bank charges 9.10 percent interest on a new car loan of Rs 10 lakh for a period of four years. EMI will be Rs 24,745.
Axis Bank
Axis Bank is offering a car loan of Rs 10 lakh at an interest rate of 9.30 percent for a period of four years. EMI in this case will be Rs 24,835.
HDFC Bank
HDFC Bank is offering car loan at an interest rate of 9.40 percent for a period of four years. EMI on car loan of Rs 10 lakh will be Rs 24,881. This interest rate was of banks on 23rd April. This car loan has been given under a 4 year loan of Rs 10 lakh.
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