7 banks with cheapest car loans and EMIs: Everyone with a good job, a source of income, and some financial stability wants to purchase a car. The car gives both comfort and is a symbol of status. People depend on car loans to buy a car. Many leading banks, including SBI, PNB, HDFC Bank, Canara Bank, and ICICI Bank offer car loans. Here’s a list of the banks with the cheapest car loan interest rates and how much equated monthly installments (EMIs) one needs to pay on a Rs 5 lakh, 5-year loan. (data source: Paisabazaar.com as on April 17, 2024). The list doesn’t including the loan processing fee. Photos: Pixabay/Unsplash