Car loan Offer: Today, everyone wishes to have a car. Due to the ever-increasing inflation, the prices of things are constantly increasing. In such a situation, even thinking about a car becomes very expensive. Even if you buy a car, your home budget gets spoiled. In such a situation, you give up the idea of buying a car. But still, if you are also thinking about making this dream come true, and are thinking about buying a car. So let us tell you that a great offer is being given on a car loan. According to Paisabazaar.com, many government banks are offering low interest rates and zero processing fees on loans.
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At what interest rate will the loan be available
At present, UCO Bank is charging an annual interest of 7.60 percent on a car loan. This great offer is being offered by UCO Bank. After this, Canara Bank is giving a loan at an interest rate of 7.70 percent. Bank of Maharashtra is offering car loans at a rate of 7.60 percent interest. Apart from this, Indian Bank is offering car loans at a rate of 7.75 percent interest. Apart from this, Punjab and Sind Bank is also offering interest at the rate of 7.75 percent. This interest will be charged annually through the bank. You can fulfill your dream of buying a car by taking a loan at the interest rate being offered by the bank.
For information, if you have a loan of Rs 5 lakh from UCO Bank, then you will have to pay Rs 10043 as a monthly EMI. Talking about the interest rates in Punjab and Sind Bank, they go up to 14.25 percent per annum. With this, EMI will have to be paid around Rs 11700.
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Discount and processing fees on a car loan
For information, let us tell you that under its retail loan festive scheme till 30 September 2025, Canara Bank offers a 100 percent discount on processing fees. Punjab & Sind Bank offers up to 50% discount on processing fees for its PSB Vehicle Sugam product. Along with this, Bank of Maharashtra currently offers interest discount of 0.25% for old loan borrowers and long-term customers.