Which bank has Lowest Interest Rate on Car Loan?
When seeking a car loan in Delhi , it's essential to compare interest rates from various banks to secure the most favorable terms. As of January 2025, several banks offer competitive interest rates on car loans. Here's a comparison to assist you in making an informed decision: 1. Canara Bank Interest Rate : Starting from 8.70% per annum. Equated Monthly Installment (EMI) : Approximately ₹1,594 per lakh for a 7-year tenure. Features : Offers up to 100% financing of the car's on-road price with flexible repayment options. 2. Indian Overseas Bank Interest Rate : Starting from 8.85% per annum. EMI : Approximately ₹1,601 per lakh for a 7-year tenure. Features : Provides competitive rates with a straight forward application process. 3. State Bank of India (SBI) Interest Rate : Starting from 9.10% per annum. EMI : Approximately ₹1,614 per lakh for a 7-year tenure. Features : Offers flexible repayment tenur...