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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.

Lender’s Name Floating Rate (%) EMI (In Rs)  
Allahabad Bank 8.95 2073  
Axis Bank 9.25-11.5 2088 – 2199  
Bank of India 9.35 2093  
Bank of Maharashtra 9.25- 10 2088- 2125  
Central Bank 8.9 2066  
Corporation Bank 9.5- 10 2100- 2125  
Dena Bank 9.15-9.25 2083-  2088  
HDFC Bank 9.0- 10.25 2076-2137  
ICICI Bank 9.3-12.85 2090- 2268  
J&K Bank 9.55 2103  
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 8.95 2073  
United Bank of India 9.05- 9.1 2078- 2081  
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 terms and condition. 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 9 Aug 2018  


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