Car Loan Interest Rates Banks/Rates New Car Loan (Reducing) Used Car Loan (Reducing) Processing Fee Apply HDFC Bank 10.50% - 13.00% 15.25% - 17.75% (60 months), 15.25% - 17.75% (48 months), 15.25% - 17.75% (36 months), 15.75% - 18.25% (24 months), 15.75% - 18.25% (Upto 12 months) Corporate Rates 13.50% - 14.25% Rs 2625/- to Rs. 4950/- For Corporates Rs.1500 Magma Fincorp 11.25% - 12.00% (upto & including 36 months) 10.75% - 11.25% ( Above 36 months to 60 months) N.A. - State Bank of India (SBI) 10.45% 16.95% ( Upto 36 Months) 17.20% ( Above 36 months) 0.5% of loan Amount Bank Of Baroda 11%(Upto 5yrs) 11.50% (above 5yrs) N.A. 0.75% (Upto 15Lacs), Max Rs.10000 0.5% (Above 15 Lacs), Min Rs.10000, No Maximum Limit Canara Bank 11% ( Upto 36 Months) 11.50% ( Above 36 Months) N.A. 0.1% of loan Amount (Minimum Rs. 250 ,Maximum Rs.500) Corporation Bank 11.25% ( Upto 36 Months) 11.25% (From 36 - 60 months), 11.75% (From 60 - 84 months), N.A. 1.00% of the loan amount sanctioned with a minimum of Rs. 1,000/- Kotak Mahindra 11.50% - 13.50% 17% - 20% Rs.3300/- to Rs.4750/- Axis Bank 11.25% - 15% 16.50% - 18% Rs.3500/- to Rs.5500/- ICICI Bank 11.50% - 14.75% (From 36 - 60 months), 13.75% - 16% (From 24 - 35 months), 15.75% - 17% (Upto 23 months) 16.50% - 18.50% Rs.2500/- to Rs.5000/- Bank Of India 10.95% 11.75% a) Loans upto Rs.25,000/- - one time Rs.1,000/- b) Loans above Rs.25,000/- upto Rs.25 lacs - one time 1.10% of loan amount - Min.Rs.1,500/- & Max. Rs.5,000/- c) Loans above Rs.25 lacs - one time 0.25% of the loan amount Max.15,000/- Federal Bank 10.95% -11.45% (upto & including 36 months) 11.45%-11.95% ( Above 36 months to 60 months) 15.45%-15.95% Rs 1685/- to Rs 2808/- Disclaimer: Please note that the interest rates given here are based on the market research. To enable the comparisons certain set of data has been reorganized / restructured / tabulated .Users are advised to recheck the same with the individual companies / organizations. This site does not take any responsibility for any sudden / uninformed changes in interest rates. Banks/ Financial Institutions can contact us at customercare@deal4loans.com for inclusions or updates.