New car loan rates and charges
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.
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.
State Bank of India is offering an interest rate of 8.75 per cent to 9.80 per cent, resulting in EMIs ranging from Rs 10,319 to Rs 10,554 for a loan amount of Rs 5 lakh over a tenure of 5 years.
Bank of Baroda is offering an interest rate of 8.85 per cent to 12.70 per cent, leading to EMIs ranging from Rs 10,343 to Rs 11,300 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 10.85 per cent, leading to EMIs ranging from Rs 10,343 to Rs 10,834 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.
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The resale value of cars depreciates over time, making it less prudent to opt for a substantial loan. While shorter loan terms result in higher monthly payments, failing to honour them can hurt your credit score.
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