Lowest Auto Loan Rates 2024 India. You might be able to work out a better deal and get a cheaper interest rate if you have good credit. The sbi automobile loan interest rate begins at 8.55% per annum for new car loans and 11.15% per annum for used car loans.

The current rate of interest for new car loan is just 10.45% and 15.25% for used car loan along with fixed interest rates, based on monthly reducing balance is one of the lowest in the car loan segment. Here’s a comparison of some of the best car loan schemes available in 2024, highlighting their key features and starting interest rates: