Buying a car in India is a significant investment, and many people often rely on car loans to finance their purchase. With so many banks offering car loans in India, it can be challenging to find the best deals. However, some banks offer the cheapest car loans in India, making it easier for customers to finance their dream car without breaking the bank.
Top 10 banks that offer the cheapest car loans in India.
In this blog post, we’ll take a look at the top 10 banks that offer the cheapest car loans in India.
State Bank of India
State Bank of India (SBI) is one of the largest banks in India and offers car loans at attractive interest rates starting from 7.50%. The bank also offers a flexible repayment period of up to 7 years, making it easier for customers to repay their loan.
Punjab National Bank
Punjab National Bank (PNB) offers car loans at competitive interest rates starting from 7.45%. The bank also offers a flexible repayment period of up to 7 years and provides a loan amount of up to 90% of the car’s on-road price.
Bank of Baroda
Bank of Baroda (BOB) offers car loans at attractive interest rates starting from 7.50%. The bank also provides a loan amount of up to 90% of the car’s on-road price and offers a repayment period of up to 7 years.
HDFC Bank
HDFC Bank offers car loans at competitive interest rates starting from 7.25%. The bank also provides a loan amount of up to 100% of the car’s on-road price and offers a flexible repayment period of up to 7 years.
Axis Bank
Axis Bank offers car loans at attractive interest rates starting from 7.75%. The bank also provides a loan amount of up to 100% of the car’s on-road price and offers a repayment period of up to 8 years.
ICICI Bank
ICICI Bank offers car loans at competitive interest rates starting from 7.95%. The bank also provides a loan amount of up to 100% of the car’s on-road price and offers a flexible repayment period of up to 7 years.
Canara Bank
Canara Bank offers car loans at attractive interest rates starting from 7.35%. The bank also provides a loan amount of up to 90% of the car’s on-road price and offers a repayment period of up to 7 years.
Union Bank of India
Union Bank of India offers car loans at competitive interest rates starting from 7.45%. The bank also provides a loan amount of up to 90% of the car’s on-road price and offers a flexible repayment period of up to 7 years.
Indian Bank
Indian Bank offers car loans at attractive interest rates starting from 7.50%. The bank also provides a loan amount of up to 85% of the car’s on-road price and offers a repayment period of up to 7 years.
Central Bank of India
Central Bank of India offers car loans at competitive interest rates starting from 7.50%. The bank also provides a loan amount of up to 90% of the car’s on-road price and offers a repayment period of up to 7 years.
Conclusion
In conclusion, these are the top 10 banks that offer the cheapest car loans in India. When choosing a bank for a car loan, it is important to consider the interest rate, loan amount, repayment period, and other factors that are important to you. It is also important to compare the different offers from various banks and choose the one that best suits your financial needs. With these tips, financing your dream car in India can be a hassle-free experience.
