New Delhi: If you are planning to buy a new vehicle in the festive season, then this news can be interesting for you. At present, many government and private banks are offering their customers special offers on cheap car loans. At the same time, many banks are also giving exemption in processing fee.
Several public and private banks including SBI, Bank of India, Bank of Baroda, Punjab National Bank and HDFC are offering car loans at low rates. Let us tell you which bank is giving loan at what rate.
At what rate SBI is giving loan?
The country’s largest government bank SBI is currently offering car loans to its customers at the rate of 7.25 percent. You can take a car loan up to 90% of the on-road value of the vehicle. You will also not have to pay processing fee i.e. your fee will be zero.
bank of india
Bank of India is giving loans to its customers at the rate of 6.85 percent. The bank has recently cut car loan rates. The bank has cut interest rate on vehicle loans by 50 basis points during the festive season. Customers can take loans at this rate till December 31. Along with this, Bank of India is also not charging processing fees from customers.
Bank Of Baroda
If we talk about Bank of Baroda, then here customers are getting the benefit of loan at the rate of 7 percent. The bank has told customers that they will easily get loans up to 90 percent of the road price.
PNB interest rate
In addition, the interest rate of Punjab National Bank is 7.15 percent. Along with this, the processing fee has also been kept zero by this bank.
HDFC bank
Its car loan interest rate starts from 7.50% under the festival offer. The bank is giving the benefit of discount on car loans to customers till November 30.
ICICI Bank
In the private sector, ICICI Bank is giving loans to customers at the rate of 7.5 percent.
EMI Estimate
If a customer starts an auto loan of Rs 5 lakh for 5 years at an interest rate of 6.85 per cent from Bank of India, your EMI will be Rs 9,865.
On the other hand, if you take a loan from Bank of Baroda at the rate of 7 percent, then the EMI will be Rs 9,901. At the same time, the EMI of the loan from PNB will be Rs 9,936 at the rate of 7.15 per cent and that of SBI at the rate of 7.25 per cent will be Rs 9,960.
Car Loan Information:
Calculate Car Loan EMI
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