Car Loan Interest Rates India: Almost every person wishes to buy his own car in his life. People dream to have their own house and a car. But the price of a car is more than lakhs of rupees. In such a situation, it is often seen that people choose the option of taking loan from the bank to buy a car.
People repay the loan amount taken from the bank through EMI. Different banks of the country provide car loans at different interest rates. If you are also thinking of buying the car of your dreams, then you must get information about the car loan interest rates of different banks of the country. So that, you do not suffer any kind of financial loss. Also, you can choose the best car loan. Let us know about the loan rates of banks…
1. In case of car loan, interest rates of different banks are different. ICICI Bank is providing car loan to its customers at the rate of 8.5 percent. The car loan interest rate of State Bank of India (SBI), India’s largest government bank, is 8.75 percent. Axis Bank is offering car loan to its customers at 8.8 percent.
2. IDBI Bank is providing car loan to its customers at an interest rate of 7.95 percent. The car loan interest rate in Bank of Baroda (BOB) is 8.15 percent. At the same time, interest rate of 8.20 percent is applicable on car loan of Canara Bank.
3. The country’s leading government bank Punjab National Bank (PNB) offers car loan to its customers at an interest rate of 7.85 percent. At the same time, Union Bank of India is offering car loan to its customers at an interest rate of 7.90 percent.
Before taking a car loan, you should compare the interest rates of all these banks. Decision should be taken only after this. A few percent reduction in interest rates while taking a car loan can save you thousands of rupees.
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