 "Planning to drive a new car? Here's where to get the best loan rates")
While planning to buy a new car, an important step is to evaluate loans offered by banks. It's crucial to understand interest rates, processing fees and any additional charges involved.
To assist in this process, we have compiled a comprehensive list of new car loan rates and charges by 18 leading banks.
New car loan rates and charges
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UCO Bank is offering an interest rate of 8.45 per cent to 10.55 per cent, translating to EMIs between Rs 10,246 to Rs 10,759 for a loan amount of Rs 5 lakh over a tenure of 5 years.
Union Bank of India is offering an interest rate of 8.70 per cent to 10.45 per cent, resulting in EMIs ranging from Rs 10,307 to Rs 10,735 for a loan amount of Rs 5 lakh over a tenure of 5 years.
Canara Bank is offering an interest rate of 8.70 per cent to 12.70 per cent, resulting in EMIs between Rs 10,307 to Rs 11,300 for a loan amount of Rs 5 lakh over a tenure of 5 years.
Bank of Maharashtra is offering an interest rate of 8.70 per cent to 13.00 per cent, resulting in EMIs ranging from Rs 10,307 to Rs 11,377 for a loan amount of Rs 5 lakh over a tenure of 5 years.
South Indian Bank is offering an interest rate of 8.75 per cent onwards, translating to EMIs of Rs 10,319 onwards for a loan amount of Rs 5 lakh over a tenure of 5 years.
Punjab National Bank is offering an interest rate of 8.75 per cent to 10.60 per cent, translating to EMIs between Rs 10,319 and Rs 10,772 for a loan amount of Rs 5 lakh over a tenure of 5 years.
Bank of India is offering an interest rate of 8.85 per cent to 12.10 per cent, translating to EMIs between Rs 10,343 to Rs 11,148 for a loan amount of Rs 5 lakh over a tenure of 5 years.
IDBI Bank is offering an interest rate of 8.85 per cent to 9.65 per cent, resulting in EMIs ranging from Rs 10,343 to Rs 10,538 for a loan amount of Rs 5 lakh over a tenure of 5 years.
Here is a list by Paisabazaar.com on car loans offered by 18 banks with loan rates, EMIs and processing fees