Latest festive season car loan interest rates of various banks: See full list

Many banks are offering flexible payback terms, affordable EMIs, and 100% financing for car loans, especially with the upcoming festivals like Dussehra and Diwali, according to an Economic Times report which added that exclusive freebies and discounts are also offered in some cases.
The interest rate on auto loans, known as annual percentage rates, or APRs, depend on a number of factors including the borrower’s income, debt, credit score, car value, loan amount, the loan length, as well as the RBI’s prevailing repo rate.
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The HDFC Bank website says “there’s no specified minimum credit score for getting a car loan from HDFC Bank. But a lower credit score can reduce the loan amount you can get. A credit score above 750 is considered excellent for loans. This will allow you to get a higher loan amount at the most affordable car loan rates.”
The interest rates for a ₹5 lakh car loan with a 5-year tenure is as follows:
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