09 Best Car Loan Providers of India

Are you looking for the Best Car Loan Providers of India then you are in the right place, In case of insufficient money where you want to take a small car loan for buying a new car and you are still confused about which car loan provider you should choose then you are in right place?

Because Today we will talk about the 07 best car loan provider of India 2021 from where you can buy your car loan for better facilities, So now have a look at the Top 07 Best Car Loan Providers of India.

09 Best Car Loan Providers of India

1. Union Bank of India Car Loan:-

Union Bank of India car loan comes in the top 01 positions in our list of 09 Best Car Loan Providers of India.

Union Bank of India is one of the largest Indian government-owned banks and the main headquarter of this bank is in Mumbai. The main ownership is in the hand of the Ministry of Finance, Government of India with 120+ million customers and a total business of US$106 billion.

The current CEO of Union Bank of India is Rajkiran Rai G and it was established on 11 November 1919.

Union Bank of India Car Loan interest rate:-

  • Interest Rate 7.40% p.a. to 10.50% p.a.
  • Processing Fee Rs.1,000 + GST
  • Prepayment Charges NIL
Stock price:UNIONBANK (NSE) ₹36.80 -1.15 (-3.03%)
Headquarters: Mumbai
Owner: Government of India (86.75%)

2.HDFC Bank car loan:-

HDFC Bank Limited car loan comes in the top 02 positions in our list of 09 Best Car Loan Providers of India.

HDFC Bank Limited is an Indian banking and financial services company, the main headquarter of HDFC bank is located in Mumbai, Maharashtra. HDFC Bank is India’s largest private sector bank by assets and by market capitalization as of April 2021. It is the third-largest company by market capitalization on the Indian stock exchanges.

The current CEO of HDFC Bank of India is Sashidhar Jagdishan and it was established in 1994.

HDFC Bank car loan interest rate:-

  • HDFC Car Loan Interest Rate (New Car) 7.95% onwards
  • Maximum Loan Amount Up to Rs.3 crore
Stock price:HDFCBANK (NSE) ₹1,478.15 +37.90 (+2.63%)
Headquarters: Mumbai
CEO: Sashidhar Jagdishan

3.Federal Bank Car Loan:-

Federal Bank car loan comes in the top 03 positions in our list of 09 Best Car Loan Providers of India.

Federal Bank Limited is a major Indian commercial bank headquartered in Aluva, Kochi. The bank has more than 1,200 branches spread across different states in India. It also has its Representative Offices abroad in Abu Dhabi and Dubai.

The current CEO of Federal Bank is Shyam Srinivasan and it was established in 1931.

Federal Bank car loan interest rate:-

  • Interest Rates 9.15% (One Year MCLR – 9.15% p.a.)
  • Foreclosure Charges Nil
  • Repayment Tenure Up to 84 months
Stock price:FEDERALBNK (NSE) ₹84.20 +2.65 (+3.25%)
Headquarters: Mumbai
CEO Shyam Srinivasan

4.Axis Bank car loan:-

Axis Bank car loan comes in the 04 positions in our list of Top 09 Best Car Loan Providers of India.

Axis Bank Limited is an Indian private sector bank headquartered in Mumbai, Maharashtra. It sells financial services to large and mid-size companies, SMEs, and retail businesses. As of 30 June 2016, 30.81% of shares are owned by the promoters and the promoter group.

The current CEO of Axis Bank is Amitabh Chaudhry and it was established in 1993.

Axis Bank car loan Interest rate:-

  • 8.65% p.a. onwards
  • Minimum of Rs.3,500 and maximum of Rs.5,500
Stock price:AXISBANK (NSE) ₹712.30 +3.05 (+0.43%)
Headquarters: Mumbai
CEOAmitabh Chaudhry

5.Canara Bank car loan:-

Canara Bank car loan comes in the 05 positions in our list of Top 09 Best Car Loan Providers of India.

Canara Bank is one of the largest Indian government-owned banks. It is under the ownership of the Ministry of Finance, Government of India. It is headquartered in Bengaluru.

It was established at Mangalore in 1906 by Ammembal Subba Rao Pai and later the government nationalized the bank in 1969.

Canara Bank car loan interest rate:-

  • Interest Rate 7.35% – 9.90% p.a.
  • Processing Charges 0.25% on the total loan amount subject
  • Loan Amount Up to 90% of the total value.
Stock price:CANBK (NSE) ₹147.05 -6.45 (-4.20%) 18 May, 3:30 pm IST
Headquarters: Bengaluru
CEOLingam Venkat Prabhakar 

6. IDBI car loan:-

IDBI car loan comes in the 06 positions in our list of Top 09 Best Car Loan Providers of India.

Industrial Development Bank of India was established in 1964 by an act to provide credit and other financial facilities for the development of the fledgling Indian industry. It is a development finance institution and a subsidiary of Life Insurance Corporation.

The current CEO of IDBI bank is Rakesh Sharma and it was established in 1964.

IDBI Bank car loan interest rate:-

  • Interest Rate Floating: 7.50% – 8.10% Fixed: 9.20% – 9.90%
  • Loan Tenure Upto 7 years
  • Processing Fee Minimum: Rs.1,500 plus taxes Maximum: Rs.2.500 plus taxes
Stock price:IDBI (NSE) ₹38.00 -0.35 (-0.91%) 18 May, 3:30 pm IST
Headquarters: Mumbai
CEORakesh Sharma 

7.Punjab National Bank car loan:-

Punjab National Bank car loan comes in the top 07 positions in our list of 09 Best Car Loan Providers of India.

Punjab National Bank, abbreviated as PNB, is an Indian government-owned bank. It is under the ownership of the Ministry of Finance, Government of India headquartered in New Delhi, India. The bank was founded in 1894 and is the second-largest government-owned bank in India, both in terms of business and its network.

The current CEO of Punjab National Bank is S. S. Mallikarjuna Rao and it was established in 1894.

Punjab National Bank car loan interest rate:-

  • Features Car Loan Rate of interest 7.55%.
Stock price:PNB (NSE) ₹37.45 -0.20 (-0.53%) 18 May, 3:30 pm ISTNBANK (NSE) ₹36.80 -1.15 (-3.03%)
Headquarters: New Delhi
Owner: S. S. Mallikarjuna Rao

8. Kotak Bank Car Loan:-

Kotak Mahindra Bank car loan comes in the top 08 positions in our list of 09 Best Car Loan Providers of India.

Kotak Mahindra Bank Limited is an Indian banking & financial services company which has it’s headquartered in the city of Mumbai, India. This Bank was established in February 2003. This bank offers financial services for corporate and retail customers’ banking products and It regulates its business in the areas of personal finance, investment banking, life insurance, and wealth management.

Kotak Mahindra Bank car loan interest rate:-

  • Features Car Loan Rate of interest 8% – 24% per annum
  • Loan tenure Up to 7 years Loan amount Up to 90% of the value of the car;
  • Minimum loan amount – Rs.75,000
Stock price:KOTAKBANK (NSE) ₹1,747.15 -2.90 (-0.17%)
Headquarters: Mumbai
Owner: Uday

9. Central Bank of India car loan:-

Central Bank of India Bank car loan comes in the top 09 positions in our list of 09 Best Car Loan Providers of India.

Central Bank of India is one of the public sector bank which is owned by the Indian government and It is under the ownership of Ministry of Finance, Government of India The main haedquters of this bank is in Mumbai, And It comes under the oldest and largest government owned commercial banks in India.

Central Bank of India Bank car loan interest rate:-

  • Interest Rate 8.90% – 10%.
  • Loan amount up to Rs. 75 lakh
  • Minimum & Maximum Car Loan Tenure Minimum Tenure – 12 months Maximum Tenure – 84 Months (7 years)
Stock price:CENTRALBK (NSE) ₹25.50 -0.05 (-0.20%)
Headquarters: Mumbai
Number of employees: 33,481 (2020)

Note:- All the things which are in this article are fully based on research and if anything gets wrong let me know in the comment section, we will fix it as soon as possible.

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