Compare Indian Bank vs OBC Car Loan
| Bank | ||
|---|---|---|
| Interest Rate for New Car Loan | Interest Rate for New Car Loan 9.65% - 9.65% |
7.05% - 9.10% |
| Interest Rate for Used Car Loan | Interest Rate for Used Car Loan 12.25% - 12.25% |
8.65% - 9.60% |
| Rate Type | Rate Type Floating |
Floating |
| Processing Fee | Processing Fee 0.22% of loan amount |
0.25% of loan amount |
| Lowest EMI per ₹ 1 lakh | Lowest EMI per ₹ 1 lakh ₹ 14,749 |
₹ 14,623 |
| Maximum LTV for New Car | Maximum LTV for New Car 85% of on-road price |
85% of on-road price |
| Maximum LTV for Used Car | Maximum LTV for Used Car 60 % of market value |
70 % of market value |
| Maximum Tenure | Maximum Tenure 7 Years |
7 Years |
| Prepayment Charges | Prepayment Charges Not allowed |
Nil |
| Minimum Age | Minimum Age 21 Years |
18 Years |
| Maximum Age | Maximum Age 65 Years |
65 Years |
| Minimum Income | Minimum Income ₹ 2.40 lakh |
₹ 1.50 lakh |
| Customer Ratings (Read Reviews) | Customer Ratings (Read Reviews) |
|
Compare Car Loan EMI of Indian Bank and OBC
Compare Car Loan EMI for different loan amounts for lowest rate and maximum tenure offered by OBC at 7.05% for 7 years and Indian Bank at 9.65% for 7 years.
| Loan Amount | Indian Bank | OBC |
|---|---|---|
| ₹ 1 Lakh | ₹ 14,749 | ₹ 14,623 |
| ₹ 3 Lakh | ₹ 44,247 | ₹ 43,870 |
| ₹ 5 Lakh | ₹ 73,745 | ₹ 73,117 |
| ₹ 10 Lakh | ₹ 1,47,489 | ₹ 1,46,234 |
Which Bank is better for Car Loan – OBC or Indian Bank?
OBC offers lower Car Loan EMI at ₹ 14,623 on a Car Loan for 7 years as compared to Indian Bank and with a minimum EMI of ₹ 14,749 for 7 years. Average customer ratings for OBC is currently at which makes it a good choice for taking a Vehicle Loan.
How does OBC Car Loan compare with Indian Bank Car Loan?
It is important to do a detailed comparison of OBC and Indian Bank Car Loan on all loan terms and conditions to understand their differences in rates and charges and make a better choice amongst the banks. Some of the conclusion drawn on the comparison between banks are:
Which bank offers a lower interest rate on Car Loan - OBC or Indian Bank?
As per the current rates, OBC offers a lower interest rate of 7.05% on Car Loan when compared to Indian Bank which offers a Car Loan at 9.65%.
What is the maximum LTV offered on a Car Loan amongst OBC or Indian Bank?
The maximum LTV offered on a car loan is similar for Indian Bank and OBC at 85 of on-road price.
Know all about Car Loan
Know More About Indian Bank Car Loan
Know More About OBC Car Loan
Compare Indian Bank Car Loan With Other Banks
Compare OBC Car Loan With Other Banks
- 2022-05-30 : Axis Bank Increases Car Loan Interest Rates
The bank has increased the interest rates on car loans by 40 basis points, and as a result, the lowest car loan interest rates start at 7.85% and go up to 14.50%. - 2022-05-13 : South Indian Bank Posts all-time High Net Profit in Q4
The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year. - 2022-05-13 : Union Bank Increases Car Loan Interest Rates
The bank has increased the interest rates on both new and old cars. The car loan interest rate ranges from 7.30% to 8.40% for new cars. In addition, the bank offers car loans for old cars starting at 10.80% to upto 10.90%. - 2022-05-13 : Ujjivan Small Finance Bank Profit Falls by 7% for Q4
The bank has reported a 7 percent fall in its net profit to Rs 126.5 crore. Earlier, the bank had posted a net profit of Rs 136 crore in the same quarter of the preceding fiscal year 2020-21. - 2022-05-12 : Punjab National Increases Car Loan Interest Rates
The bank has increased the interest rates on both new and old cars. The car loan interest rate ranges from 7.05% to 9.10% for new cars. In addition, the bank offers car loans for old cars starting at 8.50% to upto 9%.
