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Car loans
Interest rates vary with each bank, and it depends on various factors. Here is a look at the car loan interest rates of top banks. (Source: Bank websites; as on February 6, 2024))
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SBI Car Loan
For credit score of 800 & above the bank offers 8.85% for tenure between 3- 5 years. For credit score between 775 – 799, the bank offers 9% interest rate. The bank apply 9.10% interest for credit scrore between 757-774.
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HDFC Bank car loan
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ICICI Bank car loan
According to the ICICI Bank, “If the tenure of your Car Loan is short, the Car Loan Interest Rate will be higher as compared to a longer tenure. If we increase the tenure, the Car Loan repayment is spread over a longer time, thus decreasing the EMI to be paid each month.”
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Canara Bank car loan
According to the Canara Bank website, “0.25% on the loan amount with a minimum of Rs.1000/-+GST and maximum of Rs.5000/-+GST. Bank is celebrating Retail Loan Festival and waiver of 50% processing charges from 01.02.2024 to 29.02.2024.”
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Axis Bank car loan
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