Top 15 Car Loan Companies in India | Don’t Miss

A Car Loan is an amount provided by the banks to customers who wish to have their own car for fulfilling their dreams and necessities.

The following list shows the Top 15 Car Loan providers in India.

Car Loan Comparison

Sl. No.Bank NameTenureInterest rates
1Bank of Baroda5 years7.25% onwards
2HDFC7 years13.75%
3Canara5 years7.3% onwards
4ICICI7 years7.5%
5Axis7 years7.45%
6IndusInd5 years7%
7Federal7 years8.5%
8Kotak5 years6.5%
9PNB7 years6.65%
10State Bank of India7 years7.7%
11Union Bank of India7 years7.4%
12IDBI7 years7.35%
13Andhra7 years7.4%
14Central Bank of India 7 years7.25%
15Indian Bank7 years8.45% onwards

1] Bank of Baroda

Bank of Baroda (BOB) offers the best car loans to its consumers with attractive rates and quick processing.

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Sl. No.CategoryData
1Interest rates7.25% onwards
2Tenure5 years
3Loan90% of on-road charge
4Processing charge0.5% +GST

2] HDFC Bank

HDFC is amongst the largest Car Loan providers in India with the best services.

Sl. No.CategoryData
1Interest rates13.75%
2Tenure7 years
3Loan100% of ex-showroom charge
4Processing charge0.5% +GST

3] Canara Bank

Canara is the most affordable bank with a flexible tenure period along with higher interest rates.

Sl. No.CategoryData
1Interest rates7.3% onwards
2Tenure5 years
3Loan90% of on-road charge
4Processing charge0.25%+GST

4] ICICI Bank

ICICI is the leading private bank and offers loans for new and old cars with good repayment terms.

Sl. No.CategoryData
1Interest rates7.5%
2Tenure7 years
3Loan95% of ex-showroom charge
4Processing charge2-5% + GST

5] Axis Bank

Axis Car Loan is amongst the best car loans as it provides higher rates compared to other banks.

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Sl. No.CategoryData
1Interest rates7.45% onwards
2Tenure7 years
3Loan100% of on-road charge
4Processing charge0.5-1% +GST

6] IndusInd Bank

IndusInd Bank offers affordable car loans with the best pre-payment facility to their customers.

Sl. No.CategoryData
1Interest rates7%
2Tenure5 years
3Loan85% of ex-showroom charge
4Processing charge2% +GST

7] Federal Bank

Federal Bank offers well services for car loans with ZERO pre-payment charge and no collateral requirements.

Sl. No.CategoryData
1Interest rates8.5%
2Tenure7 years
3Loan100% of ex-showroom charge
4Processing charge3% +GST

8] Kotak Bank

Kotak Bank provides fast car loans within 48 hours and has a fully digitized procedure.

Sl. No.CategoryData
1Interest rates6.5% onwards
2Tenure5 years
3Loan90% of ex-showroom charge
4Processing charge1% +GST

9] PNB Car Loan

Punjab National Bank (PNB) provides car loans to its consumers with quick processing facilities and attractive interest rates.

Sl. No.CategoryData
1Interest rates6.65% onwards
2Tenure7 years
3Loan85% of on-road charge
4Processing charge1% +GST

10] State Bank of India Car Loan

SBI offers the best car loan service to its consumers with optional life insurance cover facilities and no advanced EMIs.

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Sl. No.CategoryData
1Interest rates7.7% onwards
2Tenure7 years
3Loan90% of on-road charge
4Processing charge0.5% +GST

11] Union Bank of India

Union Bank provided a flexible tenure period and this car loan facility is open for all Indians and Non-Indian applicants.

Sl. No.CategoryData
1Interest rates7.4% onwards
2Tenure7 years
3Loan85% of on-road charge
4Processing charge0.4% +GST

12] IDBI Bank Car Loan

IDBI Bank offers a well-organized car loan facility where a customer can pay back EMIs in a number of ways.

Sl. No.CategoryData
1Interest rates7.35% onwards
2Tenure7 years
3Loan90% of ex-showroom charge
4Processing charge0.5-3% +GST

13] Andhra Bank Car Loan

Andhra Bank takes ZERO pre-payment charges for car loans with minimal documentation and fast procedure.

Sl. No.CategoryData
1Interest rates7.4% onwards
2Tenure7 years
3Loan85% of on-road charge
4Processing charge0.5-1% + GST

14] Central Bank of India

Central Bank of India provides easy Car Loans to their customers with flexible tenure and quick disbursal of loans.

Sl. No.CategoryData
1Interest rates7.25% onwards
2Tenure7 years
3Loan90% of on-road charge
4Processing charge0.4% +GST

15] Indian Bank Car Loan

Indian Bank offers a Car Loan with Low EMIs and quick processing.

Sl. No.CategoryData
1Interest rates8.45% onwards
2Tenure7 years
3Loan80% of on-road charge
4Processing charge0.23-0.4% +GST

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