Punjab National Bank vs State Bank of India Car Loan
Punjab National Bank advertises the lower starting rate (7.9% vs 8.55%). On ₹8 lakh over 5 years that is about ₹14,979 less interest, or ₹250 less per month, at the starting rates.
| PNB | SBI | |
|---|---|---|
| Starting interest rate | 7.9% | 8.55% |
| EMI for ₹8 lakh, 5 years | ₹16,183 | ₹16,433 |
| Total interest | ₹1,70,971 | ₹1,85,951 |
| Processing fee | Not stated | Not stated |
| Prepayment | Not stated | Not stated |
| Maximum tenure | - | - |
Source: Punjab National 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, PNB or SBI car loan?
Punjab National Bank advertises the lower starting rate (7.9% vs 8.55%). On ₹8 lakh over 5 years that is about ₹14,979 less interest, or ₹250 less per month, at the starting rates. Your actual rate may differ from the starting rate.