Car Loan Calculator
Types of Car loan
Car loans are a popular way for people to purchase a vehicle without having to pay for it upfront. When it comes to car loans, there are two main types: fixed and floating car loans.Fixed car loans have a fixed interest rate, which means that the interest rate remains the same for the entire duration of the loan. This makes it easier for borrowers to plan and budget their loan repayments, as they know exactly how much they will need to pay each month.
On the other hand, floating car loans have a variable interest rate, which means that the interest rate can fluctuate over the duration of the loan. This means that borrowers may end up paying more or less than they anticipated, depending on how the interest rates change.
Read here in Detail: Understanding the Differences between Fixed and Floating Car Loans
Car loan interest Rates offered by Different Banks on OlD and NEW cars
| Bank Name | Car Loan for Old Car | Car Loan for New Car | Check Latest Rate Here |
|---|---|---|---|
| ICICI Bank | 9.30% - 11.50% | 8.90% - 10.75% | Link |
| Axis Bank | 12.00% - 14.00% | 9.25% - 11.50% | Link |
| HDFC Bank | 9.25% - 10.75% | 8.05% - 9.65% | Link |
| State Bank of India | 9.50% - 10.75% | 8.65% - 10.40% | Link |
| Kotak Mahindra Bank | 11.50% - 13.50% | 8.75% - 10.50% | Link |
| Mahindra Finance | 12.50% - 17.00% | 10.50% - 14.00% | Link |
| Canara Bank | 7.75% - 9.60% | 7.35% - 9.35% | Link |
| Central Bank of India | 9.50% - 10.40% | 8.40% - 10.15% | Link |
| PNB | 9.00% onwards | 8.75% onwards | Link |
| Union Bank of India | 8.90% onwards | 8.80% onwards | Link |
| IOB | 9.95% onwards | 9.70% onwards | Link |
| Federal Bank | 9.05% onwards | 8.95% onwards | Link |
| Indian Bank | 9.00% onwards | 8.90% onwards | Link |
| South Indian Bank | 9.75% onwards | 9.25% onwards | Link |
| Bank of Baroda | 8.65% onwards | 8.20% onwards | Link |
| Corporation Bank | 9.20% onwards | 9.10% onwards | Link |
| Corporation Bank | Starting from 7.90% | Link | |
| IndusInd Bank | Starting from 7.75% | Link |
