Cheapest Car Loan: If you are looking to buy a car, you must be looking for the cheapest car loan. If so, then the car loan interest rates of most banks are being told here. This will help you choose the best car loan for you.

Here the fixed and floating interest rates of car loans of banks are being told. There is a difference in these interest rates. While fixed interest rates are slightly higher, floating interest rates are lower, but can also change in between.

Banks will ask these things while giving car loan

Minimum age of the car loan borrower is 18 years
Maximum age of 75 years at the time of maturity of the car loan
Minimum income must be Rs 10,000
Car loan borrower is salaried or self-employed
Car loan is available for both new car and old car
Car price ex-showroom or on-road
Appraisal is done to know the value of the old car

Know the interest rates of banks and car loan installment of Rs 1 lakh

Axis Bank is currently charging interest ranging from 8.50 percent to 11.25 percent on car loans. If a loan of Rs 1 lakh is taken from here for 7 years, then its installment will be from Rs 1,584 to Rs 1,725.

Bank of Baroda is currently charging interest ranging from 7.35 percent to 9.10 percent on car loans. If a loan of Rs 1 lakh is taken from here for 7 years, then its installment will be from Rs 1,526 to Rs 1,614.

Bank of Maharashtra is currently charging interest ranging from 7.70 percent to 8.45 percent on car loans. If a loan of Rs 1 lakh is taken from here for 7 years, then its installment will be from Rs 1,544 to Rs 1,581.

Canara Bank is currently charging interest ranging from 7.30 percent to 9.90 percent on car loans. If a loan of Rs 1 lakh is taken from here for 7 years, then its installment will be from Rs 1,524 to Rs 1,655.

Central Bank of India is currently charging interest ranging from 7.25 percent to 7.50 percent on car loans. If a loan of Rs 1 lakh is taken from here for 7 years, then its installment will be from Rs 1,522 to Rs 1,534.

Corporation Bank is currently charging 7.40 percent to 7.50 percent interest on car loans. If a loan of Rs 1 lakh is taken from here for 7 years, then its installment will be from Rs 1,529 to Rs 1,534.

HDFC Bank is currently charging interest ranging from 8.80 percent to 10.00 percent on car loans. If a loan of Rs 1 lakh is taken from here for 7 years, then its installment will be from Rs 1,599 to Rs 1,660.

ICICI Bank is currently charging interest ranging from 8.82 percent to 12.75 percent on car loans. If a loan of Rs 1 lakh is taken from here for 7 years, then its installment will be from Rs 1,600 to Rs 1,806.

IDBI Bank is currently charging interest ranging from 8.40 percent to 9.00 percent on car loans. If a loan of Rs 1 lakh is taken from here for 7 years, then its installment will be from Rs 1,579 to Rs 1,609.

Indian Bank is currently charging interest ranging from 8.20 percent to 8.55 percent on car loans. If a loan of Rs 1 lakh is taken from here for 7 years, then its installment will be from Rs 1,569 to Rs 1,586.

Union Bank of India is currently charging 7.40 percent to 7.50 percent interest on car loans. If a loan of Rs 1 lakh is taken from here for 7 years, then its installment will be from Rs 1,529 to Rs 1,534.

Punjab National Bank is currently charging interest ranging from 9.40 percent to 9.90 percent on car loans. If a loan of Rs 1 lakh is taken from here for 7 years, then its installment will be from Rs 1,629 to Rs 1,655.

State Bank of India is currently charging interest ranging from 7.95 percent to 8.70 percent on car loans. If a loan of Rs 1 lakh is taken from here for 7 years, then its installment will be from Rs 1,556 to Rs 1,594.

UCO Bank is currently charging interest ranging from 7.70 percent to 9.30 percent on car loans. If a loan of Rs 1 lakh is taken from here for 7 years, then its installment will be from Rs 1,544 to Rs 1,624.

Bank of India is currently charging interest ranging from 7.35 percent to 7.95 percent on car loans. If a loan of Rs 1 lakh is taken from here for 7 years, then its installment will be from Rs 1,526 to Rs 1,556.

Note: Here the car loan is being told according to the site of the banks. Bank can change it at any time. In such a situation, it is necessary to check it once from the website.