HDFC Vs ICICI Bank: Which bank is best for a car loan, this is the monthly EMI on a car loan of Rs 1000000

If you are going to fulfill your dream of buying a car by taking a car loan from the bank, then you should take a car loan from a bank, which offers loans at a good interest rate. Today we are going to tell you about the car loan of HDFC Bank and ICICI Bank, one of the largest private banks in the country.

Almost every person dreams of buying his own car, but it is very difficult for a common man to buy a car. The reason for this is that lakhs of rupees are needed to buy a car. In such a situation, many people buy a car by taking a car loan from the bank. However, in the loan you have to pay a huge amount as interest, but you repay it every month through EMI, which makes it very easy.

If you are also going to fulfill your dream of buying a car by taking a car loan from the bank, then you should take a car loan from a bank, which offers loans at a good interest rate. Today we are going to tell you about the car loan of HDFC Bank and ICICI Bank, one of the largest private banks in the country. Let us know.

Monthly EMI on a car loan of Rs 10 lakh from HDFC Bank

HDFC Bank offers car loans to its customers at an initial interest rate of 9.40 percent. At the same time, these interest rates can change according to your CIBIL score. If you take a car loan of Rs 10 lakh from this bank for 7 years, then you will have to pay Rs 16,293 every month as EMI. In such a situation, in the entire 7 years, you will pay a total of Rs 13,68,597 to the bank, out of which only Rs 3,68,597 will be your interest.

Monthly EMI on a car loan of Rs 10 lakh from ICICI Bank

ICICI Bank offers car loans to its customers at an initial interest rate of 9.10 percent. At the same time, these interest rates can change according to your CIBIL score. If you take a car loan of Rs 10 lakh from this bank for 7 years, then you will have to pay Rs 16,140 every month as EMI. In this way, in the entire 7 years, you will pay a total of Rs 13,55,749 to the bank, out of which only Rs 3,55,749 will be your interest.