Car Loan EMI Under Rs 10,000! Banks Offer Fantastic Deals for New Car Buyers
Business
N
News18•07-01-2026, 16:29
Car Loan EMI Under Rs 10,000! Banks Offer Fantastic Deals for New Car Buyers
- •Public sector banks are offering attractive car loan interest rates below 8 percent, making new car purchases more affordable.
- •Union Bank of India leads with the lowest rate at 7.40%; a Rs. 5 lakh loan for 5 years results in an EMI of approximately Rs. 9,995.
- •Punjab National Bank, Canara Bank, and Indian Bank offer rates around 7.50%; Central Bank of India waives processing fees until March 31, 2026.
- •Existing customers and women borrowers may receive additional interest rate concessions from banks like Bank of Maharashtra.
- •Private banks generally have higher rates (HDFC Bank from 8.20%, ICICI Bank from 8.50%); credit score and comparing offers are crucial for savings.
Why It Matters: Public sector banks offer attractive car loan rates, making new car purchases affordable with proper comparison.
✦
More like this
Loading more articles...
