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Compare PNB vs Andhra Bank Car Loan

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Bank
Interest Rate for New Car Loan
Interest Rate for New Car Loan
6.65% - 7.50%
7.40% - 7.50%
Interest Rate for Used Car Loan
Interest Rate for Used Car Loan
7.75% - 8.50%
10.40% - 10.50%
Rate Type
Rate Type
Floating
Fixed
Processing Fee
Processing Fee
Nil
1.00% of loan amount
Lowest EMI per ₹ 1 lakh
Lowest EMI per ₹ 1 lakh
₹ 14,604
₹ 14,640
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
70 % of market value
60 % of market value
Maximum Tenure
Maximum Tenure
7 Years
7 Years
Prepayment Charges
Prepayment Charges
Nil
Nil
Minimum Age
Minimum Age
21 Years
18 Years
Maximum Age
Maximum Age
65 Years
75 Years
Minimum Income
Minimum Income
₹ 2.40 lakh
₹ 1.00 lakh
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare Car Loan EMI of PNB and Andhra Bank

Compare Car Loan EMI for different loan amounts for lowest rate and maximum tenure offered by PNB at 6.65% for 7 years and Andhra Bank at 7.40% for 7 years.

Loan Amount PNB Andhra Bank
₹ 1 Lakh ₹ 14,604 ₹ 14,640
₹ 3 Lakh ₹ 43,812 ₹ 43,921
₹ 5 Lakh ₹ 73,021 ₹ 73,201
₹ 10 Lakh ₹ 1,46,041 ₹ 1,46,403

Which Bank is better for Car Loan – PNB or Andhra Bank?

PNB offers lower Car Loan EMI at ₹ 14,604 on a Car Loan for 7 years as compared to Andhra Bank and with a minimum EMI of ₹ 14,640 for 7 years. Average customer ratings for PNB is currently at which makes it a good choice for taking a Vehicle Loan.

How does PNB Car Loan compare with Andhra Bank Car Loan?

It is important to do a detailed comparison of PNB and Andhra 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:

  • The lowest Interest rate of PNB Car Loan interest rate is 6.65%, which is lower than the lowest interest rate of Andhra Bank Car Loan at 7.40%. Thus, PNB car loan is cheaper in comparison to Andhra Bank.
  • If you want to buy a used car, you can opt for Andhra Bank as it offers used car loan at a lower interest rate of 7.75% in comparison of PNB which offers a higher rate of 10.40% on used car loan.
  • When compared to other Car Loan charges such as processing fees in terms of Percentage, PNB charges a lower processing fee of N.A vs Andhra Bank with a processing fee of 1.00% of loan amount.
  • Andhra Bank has a maximum processing fee of ₹ 1,000 compared to PNB with processing fees of NIL. Hence, customers looking for a higher loan amount will get a benefit on processing fees by opting for PNB.
  • The maximum LTV offered on a car loan is similar for Andhra Bank and PNB at 85% of on-road price.

Which bank offers a lower interest rate on Car Loan - PNB or Andhra Bank?

As per the current rates, PNB offers a lower interest rate of 6.65% on Car Loan when compared to Andhra Bank which offers a Car Loan at 7.40%.

What is the maximum LTV offered on a Car Loan amongst PNB or Andhra Bank?

The maximum LTV offered on a car loan is similar for Andhra Bank and PNB at 85 of on-road price.

Know all about Car Loan

Know More About PNB Car Loan

Know More About Andhra Bank Car Loan

Compare PNB Car Loan With Other Banks

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Our News - Jan 2022
  • 2022-01-24 : Axis Bank Net Profit Jumps 224 Percent to Rs 3,614 crore.
    Axis Bank has reported a 224 per cent year-on-year rise in its net profit at Rs 3,614 crore for the quarter ended December, which was sharply above analysts expectations of Rs 3,046 crore. The bank also witnessed a 17 per cent on-year growth in net interest income to Rs 8,653 crore for the December quarter.
  • 2022-01-20 : Union Lenders Approves Reimbursement Amount of ₹974 cr for Pandemic Loan Moratorium.
    The Union Cabinet has approved a sanction of ₹973.74 crores for lenders to reimburse the loan moratorium. Earlier, on March 27, 2020, the Reserve Bank of India (RBI) had announced a loan moratorium on payment of instalments of term loans falling due between March 1 and May 31, 2020, due to the pandemic, which was extended to August 31.
  • 2022-01-18 : Bank of Maharashtra Decreases Car Loan Interest Rates
    Bank of Maharashtra has decreased car loan rates for new cars by five basis points, and its lowest rates start at 10.80%.
  • 2022-01-07 : Tata Capital Launches Flexi Plus Loans for Different Categories
    Tata Capital has launched Flexi Plus loans across different products including, personal, business, loan Against Property, two-Wheeler and home Loans. The loan comes with longer tenure, overdraft facility and a step-up plan.
  • 2022-01-06 : Canara Bank Q3 Net Profit Rises by 139.5%
    Canara Bank has reported a net profit of 139.5% to register a year-on-year profit of Rs. 1,667.3 cr in Q3.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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