Car Loan Interest Rates 2026
Compare auto loan interest rates and processing fees from SBI, HDFC, ICICI, Kotak, Axis and all major banks. Find the best car loan rate. Updated weekly.
| Bank | Interest Rate | Processing Fee | Notes |
|---|---|---|---|
| Bank of Baroda | 7.85–11.55% | ₹1,500–2,000 + GST | Rate depends on credit score and vehicle (BRLLR 8.15% from 8 Oct 2026) |
| Union Bank | 7.85–10.25% | Varies | New four-wheeler: 7.85% at 825+ to 10.25% below 650 (rate sheet of 8 Oct 2026); confirm the processing fee with the bank |
| Kotak Mahindra | 8.75–9.25% | 3% + ₹7,500 documentation | Kotak publishes no rate range, so this figure is indicative; confirm with the bank |
| Axis Bank | 8.85–11.70% | Up to 2% + GST | Axis Maruti tie-up: often best rates on Maruti |
| SBI | 8.55–9.50% | ₹500–2,000 + GST | Fee by loan size (nil on SBI Assured Car Loan); largest network for servicing |
| HDFC Bank | 8.40% onwards | Up to 0.5% (₹3,500–8,000) | Depends on loan amount, tenure and bureau score; deep OEM partnerships |
| ICICI Bank | 8.40% onwards | Up to ₹8,500 + GST | For tenures over 36 months; from 10.25% for shorter tenures |
| Punjab National Bank | 7.80% onwards | 0.25% (₹1,000–1,500) | Processing and documentation fees waived 1 Oct–31 Dec 2026 under the PNB Utsav campaign; the standard fee applies after; check the PNB Pride scheme |
| IndusInd Bank | 8.00% | Up to 1% | Not re-verified in Nov 2026; check IndusInd rate page. Available for used cars too |
| Tata Capital | 9.49% onwards | Up to 3% | Good for used & commercial vehicles |