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Car Loan Interest Rates

Car Loan Interest Rates

Want to drive your dream car but don’t have the funds for it?
A car loan can help you in achieving this dream today. Apply for a car loan  and with a few EMI’s, become the owner of your own set of wheels.

Why compare various car loan deals with LoanUncle.org?

LoanUncle.org is India’s largest loan comparison service. For trusted advice on loans and solutions on your financial needs, you can turn to us. With tie ups with leading banks and financial institutions providing car loans, LoanUncle is your ultimate destination for best deals. Our user friendly website enables you to compare the best offerings in the market and make the best possible choice.

Banks Interest Rates Processing Fee
Axis Bank 11.5% – 12.5% Rs.3500-Rs.5500
Bank of India 10.40% Rs.500 per application
Canara Bank 10.25%-10.30% 0.25% on the loan amount Rs.1000(minimum)

Rs.5000 (maximum)

Dena Bank 10.2%-10.10% Rs.500
HDFC Ltd 10.00% – 12.50% ·         Up to 2.5 Lakhs – Rs. 3220

·         Above 2.5 Lakhs Rs. 4390-5870

ICICI Bank 10.75% – 12.75% Rs.2500-Rs.5000
Indian Bank 9.65% 0.225% of loan amount

Rs.10000 (maximum)

Magma FinCorp. 11.25%-12.00% ·         Up to 2.50 lakhs                 Rs. 3500

·         From 2.51 lakh to 5 lakhs   Rs.4050

·         Over 5 lakhs                       Rs. 4625

Punjab National Bank 9.75% – 11.10% 0.5%
State Bank of India (SBI) Car Loan 9.80% – 17.15 % 0.5%
United Bank Home Loan 12.05-12.55% 0.5%

Minimum – Rs.500

Maximum- Rs.10,000




Market share of major banks in Car/Auto Loan category:

In India, we have 35 corporations for financing Car/Auto loans.
Let us take a look which banks are the favorites of Indian borrowers when it comes to Car Loans:


BANKS  Market Share in Car Loans
 HDFC Bank  26%
 SBI  22%
 Kotak Mahindra Bank  16%
 ICICI Bank  14%
 Axis Bank  10%
 Others  12%


Please note that the interest rates given here are based on the market research. To enable the comparisons certain set of data has been reorganized / restructured / tabulated. Users are advised to recheck the same with the individual companies / organizations. This site does not take any responsibility for any sudden / uninformed changes in interest rates. Banks/ Financial Institutions can contact us at update@loanuncle.org for inclusions or updates.