Planning to Buy Car? Check Out These Bank Offers and Discounts

Planning to Buy Car:

For those planning to buy a new car this festive season, there’s good news on the horizon. Banks are offering some exciting deals, and car prices might soon see a drop as well.

Planning to Buy Car:

According to data collected by Paisabazar, public sector banks are offering competitive interest rates, making it easier to finance a car loan. Some banks are also waiving processing fees temporarily to attract customers. If you are on the lookout for the best deals, now is the right time to explore.

Top Banks with Low Interest Rates

UCO Bank offers car loans with an interest rate starting at 7.60%.

Canara Bank and Bank of Maharashtra follow closely with rates of 7.70%.

Indian Bank and Punjab & Sindh Bank offer rates at 7.75%.

For example, if you take a ₹5 lakh loan for 5 years from UCO Bank, your monthly EMI will be approximately ₹10,043. On the other hand, with Punjab & Sindh Bank, the rate can go up to 14.25%, pushing your EMI to around ₹11,700.

Special Offers on Processing Fees

Several banks are also providing special offers on processing fees:

Canara Bank is offering a 100% waiver on processing fees under their “Retail Loan Festival” till September 30, 2025.

Punjab & Sindh Bank is offering up to 50% off on processing fees under their “PSB Apna Vahan Sugam” scheme.

Bank of Maharashtra offers a 0.25% discount on interest rates for existing home loan customers.

Additionally, GST reductions might bring down the prices of entry-level cars, making this an even better time to buy.

So, if you’re planning to buy a car, check out these offers, as both loan interest rates and car prices may soon work in your favor.

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