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Car loan rates start at 7.35%: Check EMIs and processing fees of 18 lenders
Mint 1 hr ago·11 Oct 2026, 5:11 am
Car loan interest rates have begun at 7.35% per annum across 18 lenders, according to recent data from Paisabazaar. The quoted rate applies to a typical five‑year loan of around ₹5 lakh, with each lender also setting its own processing fees and any rate concessions.
For investors, cheaper financing can stimulate demand for new vehicles, supporting auto manufacturers and the broader automotive supply chain. Banks and non‑bank lenders that fund these loans may see higher loan volumes, which can boost their interest‑income streams but also raise credit‑risk exposure if repayment pressures rise.
Going forward, market participants will watch the Reserve Bank of India’s policy stance, any further adjustments to loan pricing, and trends in consumer confidence that could affect overall car‑loan demand. Changes in processing fees or promotional concessions from lenders could also shift competitive dynamics in the auto‑finance market.
Excerpt from Mint
Car loan interest rates start at 7.35% across 18 lenders, according to Paisabazaar data. Compare car loan EMIs on ₹ 5 lakh over five years, processing fees, interest-rate concessions and repayment costs before choosing a lender in October 2026. A car loan can help a borrower spread the cost of a vehicle over several…Read the original at Mint
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