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Central Bank of India vs HDFC Bank Car Loan
Central Bank of India advertises the lower starting rate (7.9% vs 8.4%). On ₹8 lakh over 5 years that is about ₹11,510 less interest, or ₹192 less per month, at the starting rates.
| Central Bank | HDFC Bank | |
|---|---|---|
| Starting interest rate | 7.9% | 8.4% |
| EMI for ₹8 lakh, 5 years | ₹16,183 | ₹16,375 |
| Total interest | ₹1,70,971 | ₹1,82,482 |
| Processing fee | Not stated | Up to 0.5% of the loan amount (min ₹3,500, max ₹8,000) |
| Prepayment | Not stated | Not stated |
| Maximum tenure | - | - |
Source: Central Bank of India official page, checked 2 November 2026.
Source: HDFC Bank official page, checked 2 November 2026.
These figures use the bank's advertised starting rate. Most borrowers are offered a higher rate depending on credit score, income and loan size, so treat the result as a best case.
Frequently asked questions
Which is cheaper, Central Bank or HDFC Bank car loan?
Central Bank of India advertises the lower starting rate (7.9% vs 8.4%). On ₹8 lakh over 5 years that is about ₹11,510 less interest, or ₹192 less per month, at the starting rates. Your actual rate may differ from the starting rate.