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Taking A Car Loan? Here Is How Much You Will Pay As EMI

Team BankBazaar



With several loan products available in the market, buying a car has become easy. Before taking a car loan, it makes sense to compare the interest rates to bag the best deal. Take a look at interest rate offered by different banks and how much EMI you will have to pay in case you take a loan of Rs 1 lakh for a tenure of 5 years.

   
EMI range based on Loan Amount Rs 100000 for tenure of 5 years  
Lender’s Name Floating Rate (%) EMI (In Rs)    
   
Allahabad Bank 9 2076    
Axis Bank 9.25-11.5 2088 – 2199    
Bank of India 9.45 2098    
Bank of Maharashtra 9.25- 10 2088- 2125    
Central Bank 9 2076    
Corporation Bank 8.95- 10.1 2073- 2130    
Dena Bank 9.25-9.35 2088-  2093    
HDFC Bank 9.0- 10.25 2076-2137    
ICICI Bank 9.3-12.85 2090- 2268    
J&K Bank 9.6 2105    
Karnataka Bank 9.3 2090    
Punjab National Bank 9.05- 9.5 2078- 2100    
State Bank of India 9.2- 9.7 2086 – 2110    
UCO Bank 9.05 2078    
United Bank of India 9.1- 9.15 2081- 2083    
         
Note :        
The EMI range is indicative and calculated on the basis of interest rate range as provided in the table. In actual situation it may include other fees and charges as per bank’s t&c. Actual applicable interest rate may vary based on the credit profile, loan amount, tenure and as per bank’s discretion    
   
   
   
Data taken from respective bank’s website as on 19 Sep 2018    

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