By Admin 
Car Loan Interest Rate 2025: Everyone dreams of being able to buy their own car. Also enjoy the long journey with your family and friends. But the truth is that buying a car is still a big decision for common people. It is not easy to raise lakhs of rupees at once.
The price of a car is in lakhs. In such a situation, car loan is like a dream come true for many people. If you are also planning to buy a car by taking a car loan, then you must find out the interest rates on car loans of government and non-government banks. So that, you do not have to pay much interest on car loan and you do not suffer financial loss.
Car loan interest rates in private banks
If you are thinking of taking a car loan from a private bank, then there may be a slight difference in the interest rates here too. HDFC Bank is charging around 9.40 percent interest on car loan, while ICICI Bank’s interest rate is slightly lower at 9.15 percent.
Car loan is currently available in Axis Bank at 8.75 percent. Whereas, on taking a car loan from IDBI Bank, you will have to pay 8.30 interest. IndusInd Bank has the lowest interest rate among private banks. The bank charges 8 percent interest from its customers.
Car loan interest rates in government banks
If you are planning to take a car loan from a government bank, then you must know the interest rates of different banks. At present State Bank of India (SBI) is charging around 8.85 percent interest on car loan. Whereas, the interest rate of Canara Bank is 8.05 percent. The rates of both Punjab National Bank and Bank of India are around 7.85 percent.
The car loan rate in Bank of Baroda is 8.15 percent, whereas the lowest interest rate currently offered by Union Bank of India to its customers is only 7.80 percent. Before taking a car loan, definitely get information about the interest rates from the banks near you. This will make it easier for you to choose.
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