Finance & Business Reviews

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Bank of India regularly appears among the cheapest car loan quotes in India at around 7.60% p.a. entry, though its top-end range (up to ~12.55%) is wider than most PSU peers, making profile-specific quotes especially important here.

Axis Bank prices car loans from roughly 8.75%-9.40% p.a., broadly in line with HDFC Bank and ICICI Bank, with a fast "Xpress"-style digital approval flow but no standout rate or fee advantage over its private-bank peers.

PNB combines a competitive entry rate (roughly 7.55%-10.70% p.a.) with low processing fees starting around Rs.1,000 and up to 100% on-road funding, backed by one of the largest PSU branch networks in India.

Union Bank of India has repeatedly posted the single lowest advertised car loan rate in India through 2025-2026, from as low as ~7.40% p.a., with especially favourable repo-linked pricing for government employees.

Bank of Baroda offers among the lowest fixed car loan rates of any PSU bank (roughly 7.60%-11.35% p.a.), interest computed on a daily reducing balance, and no penalty for early closure -- a strong pick for disciplined prepayers.

Canara Bank consistently tops or near-tops India's lowest-car-loan-rate comparisons at roughly 7.45%-11.45% p.a., paired with nil processing fees during regular promotional windows and no part-payment or foreclosure charges.

Kotak Mahindra Bank prices new-car loans from roughly 8.99%-10.25% p.a., with genuinely flexible used-car financing and fast processing for good credit profiles, but no standout price advantage over HDFC or ICICI.

ICICI Bank car loans price from roughly 8.35%-9.60% p.a. with up to 100% on-road funding and accessory financing, but carry one of the highest processing fees in the market at up to 2% of the loan amount.

HDFC Bank's car loan, marketed under its ZipDrive digital-processing umbrella, prices from roughly 8.15%-9.40% p.a. and leans on the market's largest pool of pre-approved customers for near-instant approval.

SBI's car loan runs a tighter, more predictable rate band than most PSU peers (roughly 8.70%-9.85%) with nil foreclosure charges after 24 months and up to 90% on-road funding over a maximum 84-month tenure.

A dining/grocery/food-delivery cashback card (formerly HSBC Cashback) that raised its monthly cap to Rs.1,200 in a July 2026 Visa Infinite upgrade, worth up to Rs.14,400/year in accelerated cashback alone at a Rs.999 fee.