Home › Car Loan › Federal Bank vs Union Bank
Federal Bank vs Union Bank of India Car Loan
Federal Bank and Union Bank of India advertise the same starting rate.
| Federal Bank | Union Bank | |
|---|---|---|
| Starting interest rate | 7.85% | 7.85% |
| EMI for ₹8 lakh, 5 years | ₹16,164 | ₹16,164 |
| Total interest | ₹1,69,825 | ₹1,69,825 |
| Processing fee | Not stated | Not stated |
| Prepayment | Not stated | Not stated |
| Maximum tenure | - | - |
Source: Federal Bank official page, checked 2 November 2026.
Source: Union Bank of India 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, Federal Bank or Union Bank car loan?
Federal Bank and Union Bank of India advertise the same starting rate. Your actual rate may differ from the starting rate.