Car loan is the lump sum amount borrowed from banks or other lending institution to buy a new or used car. Here the loan amount is repaid in easy instalments
Car loan interest rate varies from one bank to the other and is influenced by your month income, profession, existing EMI, credit score etc. On paisabazaar.com you can compare car loan interest rate of top banks in India and apply for the lowest rate loan with maximum features and flexible tenure.
Car loan interest rate calculator can help you analyze at what interest rate you can borrow the amount and what would be your EMI. The lender will check for your existing EMIs so that the repayment is not a burden for you.
SBI Car Loan Interest Rate:
SBI offers different types of loans for buying a car for all kinds of customers. Here is the list of SBI Car Loan interest rate offered against each loan.
|Scheme Name||Tenure||Interest rate|
|For Men||For Women|
|SBI Car Loan Scheme||For All Tenure||0.55% above base rate i.e. 9.85% p.a.||0.50% above base rate i.e. 9.80% p.a.|
|SBI Combo Loan Scheme||For All Tenure||0.55% above base rate i.e. 9.85% p.a.||0.50% above base rate i.e. 9.80% p.a.|
|NRI Car Loan||For All Tenure||0.55% above base rate i.e. 9.85% p.a.||0.50% above base rate i.e. 9.80% p.a.|
|Used Car Loans||Up to 3 years||7.60% above Base Rate i.e. 16.90% p.a.|
|Above 3 yrs up to 7 yrs||7.85% above Base Rate i.e. 17.15% p.a.|
|Certified Pre-owned car loan||Up to 3 years||6.35% above Base Rate i.e. 15.65% p.a.|
|Above 3 yrs up to 7 yrs||6.85% above Base Rate i.e. 16.15% p.a.|
|SBI Loyalty Car Loan Scheme||Car Loan, Combo Loan, NRI Car Loan||0.30% above BR i.e. 9.60% p.a.||0.25% above BR i.e. 9.55% p.a.|
|Certified Pre-owned Car Loan Scheme , Used Car Loan Scheme||1.60% above BR i.e. 10.90% p.a.||1.55% above BR i.e. 10.85% p.a.|
|SBI Nano Youth Car Loan Scheme||For All Tenure||0.80% above base rate i.e. 10.10% p.a.||0.75% above base rate i.e. 10.05% p.a|
HDFC car loan interest rate:
HDFC car loan is a fast and hassle free process with flexible tenure of up to 7 years and fixed interest rate i.e. not affected by fluctuating market rates.
Rates offered to customer:
|Product||Min IRR||Max IRR||Avg IRR|
There are some charges attached to the loan such as foreclosure, part-payment, late payment etc.
IDBI car loan interest rate:
Processing fees waived in full during Festival Offer period
|Interest rate||BR+0.35% ie., 10.10%
I-Base – 9.75%
|Loan Tenure||1 year to 7 years|
|Pre-closure Charges||Upto 1%|