Car Loan Interest Rate Comparison (Indian Bank Rates)

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Banks/RatesNew Car Loan (Reducing)Used Car Loan (Reducing)Processing Fee
HDFC Bank10.75% – 12.50%

 

15.25% – 17.75% (60 months),
15.25% – 17.75% (48 months),
15.25% – 17.75% (36 months),
15.75% – 18.25% (24 months),
15.75% – 18.25% (Upto 12 months)
Corporate Rates 13.50% – 14.25%

 

Rs 2625/- to Rs. 4950/-

For Corporates
Rs.1500

Magma Fincorp

11.25% – 12.00%
(upto & including 36 months)
10.75% – 11.25%
(Above 36 months to 60 months)

N.A.
State Bank of India (SBI)10.25% p.a. ( for WOMEN)
10.30% p.a. ( for OTHERS)
17.25% ( Upto 36 Months)
17.50% ( Above 36 months)

 

0.51% of loan amount with a minimum of Rs. 1020/- and maximum of Rs. 10200/-
Waived till 30th June 2015

Bank Of Baroda10.50% N.A.

 

0.75% (Upto 15Lacs), Max Rs.10000
0.5% (Above 15 Lacs), Min Rs.10000, No Maximum Limit

TVS credit

15% – 17%

 

N.A

Canara Bank

 10.25 %- 10.30%

N.A.

 

0.1% of loan Amount (Minimum Rs. 250 ,Maximum Rs.500)

Corporation Bank

10.40% (upto 50 lacs)
10.90%(above 50 lacs)

N.A.

 

1.00% of the loan amount sanctioned with a minimum of Rs. 1,000/-

Kotak Mahindra

11.50% – 13.50%

17% – 20%

 

Rs.3300/- to Rs.4750/-

  
Axis Bank

11.50%

16.50% – 18%

 

Rs.3500/- to Rs.5500/-

ICICI Bank

 

10.75% – 12.50% (From 36 – 60 months),
12.20% – 14.50% (From 24 – 35 months),
12.75% – 15% (Upto 23 months)

13.75% – 17%Rs.2500/- to Rs.5000/-
Bank Of India10.65%11.45% (Upto 3yrs)

 

a) Loans upto Rs.25,000/- one time Rs.1,000/-
b) Loans above Rs.25,000/- upto Rs.25 lacs – one time 1% of loan amount – Min.Rs.2,000/- & Max. Rs.10,000/-
c) Loans above Rs.25 lacs -one time Max.15,000/-

Federal Bank

10.90% – 12.25%

15.45%-15.95%

 

Upto 5 Lacs – 1500/-
Above 5 lacs – 2500/-


Disclaimer: 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.

Disclaimer: The opinions expressed in this article are the personal views of the author. CarSaleIndia is not responsible for the accuracy, completeness, suitability, or validity of any information on this article.

For more info Banks/ Financial Institutions can contact us at [email protected] for inclusions or updates.

 Source: Deal4Loan.com


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