Car loan interest rates today
Updated 8 Nov, 6:30 am · 5 lenders · RBI repo rate 5.50% · Lowest: 8.40% p.a. at ICICI Bank
Car loan rates – November 2026
| Lender | Type | Rate (p.a.) | Up to | Source |
|---|---|---|---|---|
| ICICI Bank Car Loan | Private Bank | 8.40% – 12.25% | ₹1 Cr | ICICI Bank website read 8 Nov, 6:30 am |
| State Bank of India Car Loan | Public Sector Bank | 8.55% – 9.50% | ₹1 Cr | SBI website read 8 Nov, 6:30 am |
| Kotak Mahindra Prime Car Loan | NBFC | 9.00% – 14.00% | ₹1 Cr | Our lender list checked 25 Oct 2026 |
| HDFC Bank New Car Loan | Private Bank | 9.20% – 13.00% | ₹1 Cr | Our lender list checked 25 Oct 2026 |
| Mahindra Finance Vehicle Loan (rural / informal income) | NBFC | 10.50% – 18.00% | ₹50 L | Our lender list checked 25 Oct 2026 |
Rates are the lenders’ published ranges for new loans. The lender decides the final rate at sanction. Sorted by lowest starting rate.
What decides your car loan rate
- Credit score – banks price car loans in score bands
- New or used car, and the car model or segment
- Tenure – 7-year loans usually cost a little more
- Existing relationship with the bank (salary account) often gets a discount
Common questions
Which lender has the lowest car loan interest rate today?
As on 8 Nov 2026, the lowest starting rate in our comparison is 8.40% p.a. at ICICI Bank (Car Loan). The rate you are offered depends on your credit score, income and the lender’s own grading of your profile.
How current are these rates?
2 of the 5 lenders in this table are read directly from the lender’s website twice a day, at 6:30 am and 2:30 pm. The others come from our lender list, with the date each was last checked.
Will I get the lowest rate shown?
The starting rate is for the strongest profiles. Check your own eligibility on Funding Desk to see the rate and amount each lender is likely to offer you – it does not affect your credit score.