Car Purchase Tips- Are you also thinking of taking a loan, then know which bank is offering cheap loan

The biggest dream of a common man's life is to build his own house and buy his favorite car. For which we work very hard, if you are thinking of buying a car this festive season, then know who is giving you the cheapest loan, so that your dream of buying a car can be fulfilled, let's know about them.

1. State Bank of India (SBI)

Interest rates: 8.65% to 9.70%

Monthly EMI for ₹5 lakh (5 years): ₹10,294 to ₹10,550

Processing fee: None

SBI offers competitive interest rates and, most importantly, does not charge any processing fee. This makes it an attractive option for those looking for a straightforward loan process.

2. Punjab National Bank (PNB)

Interest rates: 8.75% to 9.60%

Monthly EMI for ₹5 lakh (5 years): ₹10,319 to ₹10,525

Processing fee: None

PNB's rates are slightly higher than SBI's but remain competitive. Like SBI, PNB also waives processing fees, making it a strong contender for your car loan.

3. Bank of Baroda (BOB)

Interest rates: 8.70% to 12.10%

Monthly EMI for ₹5 lakh (5 years): ₹10,307 to ₹11,148

Processing fee: None

BOB offers a wide range of interest rates, with the higher cost likely depending on your profile. However, there are no processing fees, which can already save you money.