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Car Loan Interest Rates
| Written by zhaotingting |
| January 04, 2008 10:19 |
Published car loan rates are usually a misnomer since a lot of freebies are in-built into a typical car purchase. Rather than comparing the absolute rates, it is recommended that the car buyer examines the actual rates (after factoring in the cost of freebies). However, we have gathered below the car loan rates of some banks, which will give you an indication of prevailing rates. We will soon be increasing the number of banks' rates covered in this section in the days ahead. Car Loan Interest Rates as on December 19, 2007 | |
Banks | New Car | Tenure | Loan Amount | Margin | Processing Fee | Interest Rate | State Bank of India | Above 3 yr | up to 5 lakh | 15% | 0.50% of Loan amount and to be paid upfront Minimum: Rs. 500/- Maximum Rs. 10,000, 25% of Processing fee will be ratained if application is rejected after pre-sanction survey | 11.25 | Bank of Baroda | Above 3 yr | up to 5 lakh | 15% | 0.50% | 11.5 | Bank of India | Above 3 yr | NA | NA | 1.10% of the loan amount Min. Rs.750/-, Max. Rs.2500/- | 12 | ABN Amro Bank | Above 3 yr | up to 5 lakh | NA | NA | 11.5-12.5 | ICICI Bank | Above 3 yr | NA | NA | Rs. 1450/- | 14.25 | HDFC Bank | Above 3 yr | NA | NA | Rs. 2090/- | 14 | Axis Bank | Above 3 yr | NA | 15% | NA | 12 | Union Bank of India | Above 3 yr | upto Rs.10 lakh | 20% | Loan upto Rs. 2 Lacs- Rs.500/-, Loan over Rs. 2 Lac- Rs. 1000/- | 11.5-12 | Allahabad Bank | Above 3 yr | NA | 15% | For Salaried Persons: Nil, For Others: 1% of loan amount, minimum Rs 2,000/- | 12.75 | Bank of Maharshtra | Above 3 yr | NA | 10% | Rs. 2000/- | 11.75 | Canara Bank | Above 3 yr | NA | 90% of the on road price. | 0.1% on the loan amount with a minimum of Rs.250/- and maximum of Rs.500/- | 11.5 | Catholic Syrian Bank | Above 3 yr | NA | 80% of Invoice Value and road tax | NA | 12 - 13.5 | Central Bank of India | Above 3 yr | upto Rs.10 lakh | 15% | 1% of the loan amount subject to minimum of Rs.250/- | 11 | Dena Bank | Above 3 yr | upto Rs. 8 lakh | 20% | Rs. 500/- | 12.25 | Federal Bank | Above 3 yr | NA | NA | NA | 11.5 | Karnataka Bank | Above 3 yr | NA | NA | NA | 14 | Oriental Bank of Commerce | Above 3 yr | upto Rs. 10 lakh | 15% | 0.50% of loan amount with minimum of Rs. 500/- | 12% | Punjab National Bank | Above 3 yr | NA | 20% | 0.50% of the loan amount, with a maximum of Rs.4,000/- | 11.5 - 12 | State Bank of Mysore | Above 3 yr | NA | NA | NA | 11.75% | UCO Bank | Above 3 yr | NA | NA | 1% | 13.25 | Vijaya Bank | Above 3 yr | NA | NA | NA | 11 | Indian Bank | Above 3 yr | upto Rs 7.5 lakh | 10% | NA | 11 | Indian Overseas Bank | Above 3 yr | NA | NA | NA | 11.5 | Centurion Bank of India | Above 3 yr | NA | NA | Rs 1000 | 13 | Andhra Bank | Above 3 yr | NA | 10% | NA | 12.75 |
Banks | Used Car | Tenure | Loan Amount | Margin | Processing Fee | Interest Rate | State Bank of India | Above 3 yr | NA | 15% | 0.50% of Loan amount and to be paid upfront Minimum: Rs. 500/- Maximum Rs. 10,000, 25% of Processing fee will be ratained if application is rejected after pre-sanction survey | 16 | Bank of Baroda | Above 3 yr | NA | 40% | 0.50% | NA | Bank of India | Above 3 yr | NA | NA | 1.10% of the loan amount Min. Rs.750/-, Max. Rs.2500/- | 12.25 | ABN Amro Bank | Above 3 yr | NA | NA | NA | 17.5-18.5 | ICICI Bank | Above 3 yr | NA | NA | 0.50% on gross loan amount or Rs.1250/- whichever is higher | NA | HDFC Bank | Above 3 yr | NA | NA | Rs. 400 | NA | Axis Bank | Above 3 yr | NA | 35% | NA | NA | Union Bank of India | Above 3 yr | NA | 20% | Loan upto Rs. 2 Lacs- Rs.500/-, Loan over Rs. 2 Lac- Rs. 1000/- | 12 | Allahabad Bank | Above 3 yr | NA | 85% of the "Agreed Purchase Price" or 60% of the Valuation of the Vehicle, whichever is lower | For Salaried Persons: Nil, For Others: 1% of loan amount, minimum Rs 2,000/- | NA | Bank of Maharshtra | Above 3 yr | NA | 40% | Rs.2000/- | 13.25% | Canara Bank | Above 3 yr | NA | 75% | 0.1% on the loan amount with a minimum of Rs.250/- and maximum of Rs.500/- | NA | Central Bank of India | Above 3 yr | NA | 40% | 1% of the loan amount subject to minimum of Rs.250/- | 12.5 | Dena Bank | Above 3 yr | NA | 20% | Rs. 500/- | 13.25% | Federal Bank | Above 3 yr | NA | NA | NA | 14.25 | Karnataka Bank | Above 3 yr | NA | NA | NA | 16 | Oriental Bank of Commerce | Above 3 yr | NA | NA | 0.50% of loan amount with minimum of Rs. 500/- | 14.25 | State Bank of Mysore | Above 3 yr | NA | NA | NA | 13.25 | Andhra Bank | Above 3 yr | NA | 60% of garage value or Rs. 5,00,000 /- whichever is lower. | NA | 12.75 |
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| German : Auto-Darlehen Zinsen |
| Spanish : Préstamo de coches los tipos de interés |
| French : Car les taux d'intérêt des prêts |
| Japanese : 自動車ローンの金利 |
| Russian : Автомобильный кредит процентные ставки |
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