During the festival of Akshaya Tritiya, banks present an auspicious opportunity to purchase a car with attractive offers on interest rates and processing fees for car loans.
Top 10 Banks and Their Offers
Here are the top 10 banks offering car loans with interest rates ranging from 8.7 percent to 9.4 percent on loans up to Rs 10 lakh for a tenure of four years.
Union Bank of India
Union Bank of India, a public sector bank, offers a new car loan of up to Rs 10 lakh for a period of four years at an interest rate of 8.70 percent.
The equated monthly installment (EMI) for this loan amounts to Rs 24,565.
State Bank of India and Others
State Bank of India, along with banks like Punjab National Bank, Canara Bank, and Indian Bank, offers car loans at an interest rate of 8.75 percent for a tenure of four years. The EMI for these loans is Rs 24,587.
Bank of India, Bank of Baroda, and More
Bank of India provides car loans with an interest rate of 8.85 percent, resulting in an EMI of Rs 24,632.
Bank of Baroda charges an interest rate of 8.90 percent, leading to an EMI of Rs 24,655.
Private Banks: ICICI Bank and Axis Bank
ICICI Bank, a private bank, offers car loans at an interest rate of 9.10 percent, with an EMI of Rs 24,745.
Meanwhile, Axis Bank provides car loans at an interest rate of 9.30 percent, resulting in an EMI of Rs 24,835.
HDFC Bank
HDFC Bank offers car loans at an interest rate of 9.40 percent for a tenure of four years, with an EMI of Rs 24,881. These interest rates were applicable as of April 23rd
