Good News! All these banks including SBI-PNB and HDFC are offering cheap car loans, check how much your EMI will be

Car Loan Festive Offer: If you are also planning to buy a new vehicle in the festive season, then this is important news for you. At this time, many government and private banks are giving special offers to their customers, so you will get a cheap loan (Cheap Car Loan) as compared to before. Along with this, many banks are also giving exemption in processing fee. Let us tell you which bank is giving loan according to which rate.

Many government and private banks including SBI, Bank of India, Bank of Baroda, Punjab National and HDFC are offering car loan facility at low rates.

At what rate SBI is giving loan?
The country’s largest government bank SBI is currently offering car loans to its customers at the rate of 7.25 percent. You can take a car loan up to 90% of the on-road price of the vehicle. Apart from this, you will also not have to pay processing fee, that is, your fee will be nil.

bank of india
Bank of India is offering loan to its customers at the rate of 6.85 percent. The bank has recently cut car loan rates. The bank has cut the interest rate on vehicle loans by 50 basis points during the festive season. Customers can take a loan under this rate till December 31. Along with this, Bank of India is also not charging processing fees from customers.

BoB is also giving cheap loan
Talking about Bank of Baroda, here customers are getting the benefit of loan at the rate of 7 percent. The bank has told the customers that you will easily get a loan up to 90 percent of the road price.

What is the interest rate of PNB?
Apart from this, if we talk about the interest rate of Punjab National Bank, then it is 7.15 percent. Apart from this, the processing fee has also been kept nil by this bank.

HDFC Bank
Under the festival offer, its car loan interest rate is starting from 7.50 percent. The bank is giving the benefit of car loan waiver to the customers till November 30.

ICICI Bank
Apart from this, talking about ICICI Bank of the private sector, it is offering loans to customers at the rate of 7.5 percent.

What will be the EMI?
If the customer takes an auto loan of Rs 5 lakh from Bank of India for 5 years at an interest rate of 6.85 per cent, then your EMI will be Rs 9865. At the same time, if you take a loan from Bank of Baroda at 7 percent, then the EMI will be Rs 9,901. At the same time, loan EMI at 7.15 percent from PNB will come to Rs 9,936 and from SBI at 7.25 percent loan EMI will come to Rs 9,960.

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