Almost everyone aspires to own a car in their lifetime. If you're considering buying your dream car, you should definitely check the interest rates of various banks.

Car Loan Interest Rates India: Almost everyone aspires to own a car in their lifetime. People dream of owning a home and a car. However, cars cost lakhs of rupees. Therefore, it's often seen that people choose a bank loan to purchase a car.

People repay the loan amount through EMIs. Different banks across the country offer car loans at different interest rates. If you're considering buying your dream car, you should definitely check the car loan interest rates from various banks across the country so that you don't suffer any financial losses and can choose the best car loan. Let's learn about bank loan rates...

1. Different banks offer different interest rates for car loans. ICICI Bank offers car loans to its customers at 8.5 percent. India's largest public sector bank, State Bank of India (SBI), offers a car loan interest rate of 8.75 percent. Axis Bank offers car loans to its customers at 8.8 percent.

2. IDBI Bank offers car loans to its customers at an interest rate of 7.95 percent. Bank of Baroda (BOB) offers a car loan interest rate of 8.15 percent. Canara Bank offers an interest rate of 8.20 percent on car loans.

3. Punjab National Bank (PNB), the country's leading public sector bank, offers car loans to its customers at an interest rate of 7.85 percent. Union Bank of India offers car loans to its customers at an interest rate of 7.90 percent.

Before taking out a car loan, you should compare the interest rates of all these banks and then make a decision. A few percentage points lower on a car loan can save you thousands of rupees.