Public Sector Banks Offer Lowest Car Loan Rates in November

Public sector banks in India are offering competitive car loan rates ranging from 7.60% to 9.70% in November, with some lenders waiving processing fees. Private banks, on the other hand, are charging higher rates, with ICICI Bank starting at 8.50% and HDFC Bank at 9.20%. Even small differences in interest rates can significantly impact the total cost of borrowing, with a monthly difference of nearly Rs 600 in the example given. Borrowers are advised to explore the best options based on their individual circumstances.