Home › Car Loan › HDFC Bank vs SBI
HDFC Bank vs State Bank of India Car Loan
HDFC Bank advertises the lower starting rate (8.4% vs 8.55%). On ₹8 lakh over 5 years that is about ₹3,469 less interest, or ₹58 less per month, at the starting rates.
| HDFC Bank | SBI | |
|---|---|---|
| Starting interest rate | 8.4% | 8.55% |
| EMI for ₹8 lakh, 5 years | ₹16,375 | ₹16,433 |
| Total interest | ₹1,82,482 | ₹1,85,951 |
| Processing fee | Up to 0.5% of the loan amount (min ₹3,500, max ₹8,000) | Not stated |
| Prepayment | Not stated | Not stated |
| Maximum tenure | - | - |
Source: HDFC Bank official page, checked 2 November 2026.
Source: State 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, HDFC Bank or SBI car loan?
HDFC Bank advertises the lower starting rate (8.4% vs 8.55%). On ₹8 lakh over 5 years that is about ₹3,469 less interest, or ₹58 less per month, at the starting rates. Your actual rate may differ from the starting rate.