SBI, PNB, HDFC Bank Car Loan Interest Rates: What will be your EMI on Rs 5 lakh, 5-year loan

ZeeBiz WebTeam | May 07, 2024, 11:09 AM IST

Buying a car is a dream as well as a necessity for a large population in India. A majority of Indians buy car through loans. They take deposit some down payment and make equated monthly instalments (EMIs) for rest of the amount. Here, we take you through the interest rates that banks such as State Bank of India, Punjab National Bank, HDFC Bank, ICICI Bank and Canara Bank are offering and what will be your EMI on a 5-year, Rs 5 lakh loan (Source: Paisabazaar.com).

Photos: Unsplash/Pixabay

1/5

SBI car loan

SBI car loan

State Bank of India is offering the car in the interest rate range of 8.75%-9.80%. The EMI for the loan will be Rs 10,319-Rs 10,554. The processing fee is up to Rs 1,500.

2/5

PNB Car Loan

PNB Car Loan

Punjab National Bank is offering the car loan in the interest rate range of 8.75%-10.60%. The EMI for the loan will be Rs 10,319-Rs 10,772. The processing fee is up to 0.25% (Rs. 1,000 - Rs. 1,500).

3/5

ICICI Bank car loan

ICICI Bank car loan

ICICI Bank is offering the car loan from 9.10% onwards. The EMI for the loan will be from Rs 10,403 onwards. The processing fee is Rs 999-Rs 8,500.

4/5

HDFC Bank car loan

HDFC Bank car loan

HDFC Bank is offering the interest rate of 9.20% onwards. The EMI for the loan is Rs 10,428 onwards. The processing fee is 0.50% (Rs 3,500 - Rs 8,000).

5/5

Canara Bank car loan

Canara Bank car loan

Canara Bank is offering the car loan in the interest rate range of 8.70%-12.70%. The EMI for the loan will be Rs 10,307-Rs 11,300. The processing fee is up to 0.25% (Rs. 1,000 - Rs. 5,000).

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x