Axis Bank vs Chola vs IDFC FIRST Bank at a glance
| Detail | Axis Bank | Chola | IDFC FIRST Bank |
|---|---|---|---|
| Loan provider type | Private bank | NBFC | Private bank |
| Legal name | Axis Bank | Cholamandalam Investment and Finance Company Ltd (Chola) | IDFC FIRST Bank |
| Vehicle loans with a published rate | Car loan, Two-wheeler loan | Car loan, Two-wheeler loan, Used car loan, Three-wheeler loan, Tractor loan | Car loan, Two-wheeler loan, Used car loan, Tractor loan |
| Car loan: published rate | 8.90% - 11.70% | 9% - 20% p.a.car; MUV 9% - 20% | From 8.99% |
| Car loan: maximum tenure | Up to 8 years (per Axis Bank car loan calculator) | Not published | 10 years (120 months) |
| Two-wheeler loan: published rate | 10% - 28% | 15% - 28% p.a. | From 9%premium; from 10% commuter, mid-premium, EV |
| Two-wheeler loan: maximum tenure | 12-48 months (superbikes 12-60 months) | Not published | 60 months |
| Official website | axis.bank.in | cholamandalam.com | idfcfirst.bank.in |
Axis Bank vs Chola vs IDFC FIRST Bank car loan: rate, fees and tenure
Starting car loan rates as published: Axis Bank from 8.90%, Chola from 9% and IDFC FIRST Bank from 8.99%. Axis Bank is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered. IDFC FIRST Bank lists the longer maximum tenure (10 years (120 months)).
| Detail | Axis Bank | Chola | IDFC FIRST Bank |
|---|---|---|---|
| Product | Axis Bank Car Loan | New Car Loan | New Car Loan |
| Published rate | 8.90% - 11.70% | 9% - 20% p.a.car; MUV 9% - 20% | From 8.99% |
| Rate basis | Linked to 1-year MCLR (8.90%) for tenures up to 36 months | Fixed | Fixed or floating (fees page references fixed-rate bookings and a rate-switch fee) |
| Maximum tenure | Up to 8 years (per Axis Bank car loan calculator) | Not published | 10 years (120 months) |
| Maximum funding | Up to 100% of on-road price | Up to 100% on-road | Up to 100% of on-road price |
| Processing fee | Up to 2% of loan + GST; documentation Rs 700 + GST | 0.5% - 2.5% + sourcing fee Rs 1,000 - 2,500 | Up to 5% of loan amount (incl. GST) |
| Pre-closure / prepayment | Not published | Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST | 5% of principal outstanding + GST if booked on fixed rate; part-payment 5% + GST |
| Other terms published | Not published |
|
|
| Official source | axis.bank.in | cholamandalam.com files.cholamandalam.com | idfcfirst.bank.in idfcfirst.bank.in |
EMI illustration: ₹10 lakh over 60 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Axis Bank | 8.90% | ₹20,710 | ₹2,42,591 | ₹12,42,591 |
| Chola | 9% | ₹20,758 | ₹2,45,501 | ₹12,45,501 |
| IDFC FIRST Bank | 8.99% | ₹20,754 | ₹2,45,210 | ₹12,45,210 |
Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.
Monthly EMI at other loan amounts (60 months)
| Loan amount | Axis Bank (8.90%) | Chola (9%) | IDFC FIRST Bank (8.99%) |
|---|---|---|---|
| ₹5 lakh | ₹10,355 | ₹10,379 | ₹10,377 |
| ₹10 lakh | ₹20,710 | ₹20,758 | ₹20,754 |
| ₹15 lakh | ₹31,065 | ₹31,138 | ₹31,130 |
| ₹20 lakh | ₹41,420 | ₹41,517 | ₹41,507 |
Read the full guide: Car loan · EMI calculator
Axis Bank vs Chola vs IDFC FIRST Bank two-wheeler loan: rate, fees and tenure
Starting two-wheeler loan rates as published: Axis Bank from 10%, Chola from 15% and IDFC FIRST Bank from 9%. IDFC FIRST Bank is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered. IDFC FIRST Bank lists the longer maximum tenure (60 months).
| Detail | Axis Bank | Chola | IDFC FIRST Bank |
|---|---|---|---|
| Product | Axis Bank Two Wheeler Loan | Two Wheeler Loan (new only) | Two-Wheeler Loan |
| Published rate | 10% - 28% | 15% - 28% p.a. | From 9%premium; from 10% commuter, mid-premium, EV |
| Rate basis | Not published | Fixed | Not published |
| Maximum tenure | 12-48 months (superbikes 12-60 months) | Not published | 60 months |
| Maximum funding | Up to 100% of on-road price | Up to 100% of bike value | Up to 95% of on-road price |
| Processing fee | Not published | 0.75% - 5% + sourcing fee Rs 500 - 2,500 | Up to 5% (product page advertises zero processing fees) |
| Pre-closure / prepayment | Not published | Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST | 5% of principal outstanding; part-payment 5% |
| Other terms published |
|
|
|
| Official source | axis.bank.in | cholamandalam.com files.cholamandalam.com | idfcfirst.bank.in idfcfirst.bank.in |
EMI illustration: ₹1 lakh over 36 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Axis Bank | 10% | ₹3,227 | ₹16,162 | ₹1,16,162 |
| Chola | 15% | ₹3,467 | ₹24,795 | ₹1,24,795 |
| IDFC FIRST Bank | 9% | ₹3,180 | ₹14,479 | ₹1,14,479 |
Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.
Monthly EMI at other loan amounts (36 months)
| Loan amount | Axis Bank (10%) | Chola (15%) | IDFC FIRST Bank (9%) |
|---|---|---|---|
| ₹0.5 lakh | ₹1,613 | ₹1,733 | ₹1,590 |
| ₹1 lakh | ₹3,227 | ₹3,467 | ₹3,180 |
| ₹1.5 lakh | ₹4,840 | ₹5,200 | ₹4,770 |
Read the full guide: Two-wheeler loan · EMI calculator
Axis Bank vs Chola vs IDFC FIRST Bank used car loan: rate, fees and tenure
Starting used car loan rates as published: Chola from 15% and IDFC FIRST Bank from 11.99%. IDFC FIRST Bank is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered. IDFC FIRST Bank lists the longer maximum tenure (7 years (repurchase)). Axis Bank does not publish a used car loan rate on its website, so none is shown.
| Detail | Axis Bank | Chola | IDFC FIRST Bank |
|---|---|---|---|
| Product | Axis Bank Used Car Loan | Used Car Loan | Pre-owned Car Loan |
| Published rate | Not published | 15% - 28% p.a.MUV 14% - 28% | From 11.99%repurchase; from 13.99% refinance |
| Rate basis | Not published | Fixed | Not published |
| Maximum tenure | Up to 60 months (per Axis Bank calculator) | 5 years | 7 years (repurchase) |
| Maximum funding | Up to 100% of the used car's value | Up to 100%* | Up to 200% LTV of market value (Car N Cash refinance) |
| Processing fee | Not published | 0.5% - 3.25% + sourcing fee Rs 1,000 - 2,500 | Up to 5% of loan amount (incl. GST) |
| Pre-closure / prepayment | Not published | Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST | 5% of principal outstanding + GST; part-payment 5% + GST |
| Other terms published | Not published |
|
|
| Official source | axis.bank.in | cholamandalam.com files.cholamandalam.com | idfcfirst.bank.in idfcfirst.bank.in |
EMI illustration: ₹5 lakh over 48 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Chola | 15% | ₹13,915 | ₹1,67,938 | ₹6,67,938 |
| IDFC FIRST Bank | 11.99% | ₹13,164 | ₹1,31,894 | ₹6,31,894 |
Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.
Monthly EMI at other loan amounts (48 months)
| Loan amount | Chola (15%) | IDFC FIRST Bank (11.99%) |
|---|---|---|
| ₹3 lakh | ₹8,349 | ₹7,899 |
| ₹5 lakh | ₹13,915 | ₹13,164 |
| ₹8 lakh | ₹22,265 | ₹21,063 |
Read the full guide: Used car loan · EMI calculator
Axis Bank vs Chola vs IDFC FIRST Bank three-wheeler loan: rate, fees and tenure
Only Chola publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Axis Bank and IDFC FIRST Bank do not publish a three-wheeler loan rate on their website, so none is shown.
| Detail | Axis Bank | Chola | IDFC FIRST Bank |
|---|---|---|---|
| Product | Not published | Three Wheeler Loans | Not published |
| Published rate | Not published | New non-EV 21% - 28%; used non-EV 25% - 28% p.a. | Not published |
| Rate basis | Not published | Fixed | Not published |
| Processing fee | Not published | New 1.5% - 3.5%; used 1% - 2.5% + sourcing fee | Not published |
| Pre-closure / prepayment | Not published | Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST | Not published |
| Other terms published | Not published |
| Not published |
| Official source | Not published | cholamandalam.com files.cholamandalam.com | Not published |
Read the full guide: Three-wheeler loan
Axis Bank vs Chola vs IDFC FIRST Bank tractor loan: rate, fees and tenure
Starting tractor loan rates as published: Chola from 12% and IDFC FIRST Bank from 12%. Axis Bank does not publish a tractor loan rate on its website, so none is shown.
| Detail | Axis Bank | Chola | IDFC FIRST Bank |
|---|---|---|---|
| Product | Axis Bank Tractor Loan | Tractor & Farm Equipment Loans | Tractor Loan |
| Published rate | Not published | New 12% - 28%; used 17% - 28% p.a. | 12% - 16%new; 16% - 20% used |
| Rate basis | Not published | Fixed | Not published |
| Maximum tenure | Not published | Not published | 72 months (new); 60 months (used) |
| Maximum funding | Not published | Not published | ₹1-15 lakh (new); ₹1-5.5 lakh (used) |
| Processing fee | Not published | New 0.25% - 2%; used 0.75% - 3.25% + sourcing fee | 1% of sanctioned amount |
| Pre-closure / prepayment | Not published | Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST | 2% of principal outstanding + GST |
| Other terms published | Not published |
| Not published |
| Official source | axis.bank.in | cholamandalam.com files.cholamandalam.com | idfcfirst.bank.in |
EMI illustration: ₹8 lakh over 60 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Chola | 12% | ₹17,796 | ₹2,67,733 | ₹10,67,733 |
| IDFC FIRST Bank | 12% | ₹17,796 | ₹2,67,733 | ₹10,67,733 |
Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.
Monthly EMI at other loan amounts (60 months)
| Loan amount | Chola (12%) | IDFC FIRST Bank (12%) |
|---|---|---|
| ₹5 lakh | ₹11,122 | ₹11,122 |
| ₹8 lakh | ₹17,796 | ₹17,796 |
| ₹12 lakh | ₹26,693 | ₹26,693 |
Read the full guide: Tractor loan
Which is better: Axis Bank, Chola or IDFC FIRST Bank?
No loan provider is best for everyone. This is how the published figures split, product by product.
- Car loan, lower starting rate: Axis Bank (8.90%) versus 9% at Chola and 8.99% at IDFC FIRST Bank.
- Two-wheeler loan, lower starting rate: IDFC FIRST Bank (9%) versus 10% at Axis Bank and 15% at Chola.
- Car loan, longer maximum tenure: IDFC FIRST Bank (10 years (120 months)). A longer tenure lowers the EMI but raises total interest.
- Two-wheeler loan, longer maximum tenure: IDFC FIRST Bank (60 months). A longer tenure lowers the EMI but raises total interest.
- Used car loan, longer maximum tenure: IDFC FIRST Bank (7 years (repurchase)). A longer tenure lowers the EMI but raises total interest.
Pick on total cost, not the headline rate: ask each loan provider for the Key Fact Statement and compare the APR and total repayable amount. A low rate with a high processing fee can cost more than a slightly higher rate with no fee.
Bank type and how each loan provider sets its rate
Axis Bank and IDFC FIRST Bank are private banks and Chola is a nbfc.
What the loan providers' own pages say about how their rates are set:
- Axis Bank car loan: Linked to 1-year MCLR (8.90%) for tenures up to 36 months.
- Chola car loan: Fixed.
- Chola two-wheeler loan: Fixed.
- Chola used car loan: Fixed.
- Chola electric two- and three-wheeler loan: Fixed.
- Chola three-wheeler loan: Fixed.
- Chola tractor loan: Fixed.
- Chola commercial vehicle loan: Fixed.
Banks and non-banking finance companies (NBFCs) publish rates in different ways: some give a range, some only a starting rate and some only a maximum. That is why this page compares like with like and marks every gap as not published instead of guessing.
About Axis Bank, Chola and IDFC FIRST Bank
Axis Bank
Private bank
Private-sector bank offering new and used car, two-wheeler, commercial vehicle and tractor loans, with up to 100% on-road funding on new cars.
Lowest published starting rate: 8.90% (Car loan)
Chola
NBFC · Cholamandalam Investment and Finance Company Ltd (Chola)
Murugappa Group's vehicle-finance-led NBFC with a large rural and semi-urban branch network
Lowest published starting rate: 9% (Car loan)
IDFC FIRST Bank
Private bank
Private bank pitching long tenures (up to 10 years on new cars) and high funding across new and used cars, two-wheelers, commercial vehicles and tractors, mostly on fixed rates.
Lowest published starting rate: 8.99% (Car loan)
What to check before you choose a vehicle loan
- Ask for the Key Fact Statement (KFS). RBI requires loan providers to give you one before you sign, showing the interest rate, all fees, the APR and the total amount you will repay.
- Compare APR, not the headline rate. Processing fee, documentation charges and insurance change the real cost.
- Ask about pre-closure charges. Fixed-rate vehicle loans often carry charges for paying early; floating-rate loans to individuals cannot.
- Check what is bundled. Insurance, extended warranty or accessories added to the loan raise the amount you pay interest on. You are free to buy insurance elsewhere.
- Confirm the hypothecation. The loan provider's name is noted on the registration certificate. After the last EMI, collect the NOC and have it removed at the RTO.
Terms used on this page
Plain meanings of the terms this comparison uses.
Starting rate: The lowest rate a loan provider advertises for a product. Most borrowers are offered a higher rate, because the final rate depends on credit score, income, employer and loan amount.
APR: Annual percentage rate. It adds the processing fee and other charges to the interest rate, so it shows the yearly cost of the loan better than the interest rate alone.
Key Fact Statement: A short summary the loan provider gives you before you sign. It lists the interest rate, every fee, the APR and the total amount you will repay. RBI requires it for retail loans.
Floating rate and repo rate: A floating rate moves with a benchmark, and for banks that is usually the RBI repo rate, the rate at which RBI lends to banks. A fixed rate stays the same for the period you agree.
Processing fee: A one-time charge for handling the application. It is usually a percentage of the loan amount plus GST, and it is often deducted before the money reaches you.
Credit score: A number from 300 to 900 that shows how you have repaid past loans and cards. A higher score usually gets you a lower rate.
Sources, method and last check
Every figure above comes from the loan provider's own website. We checked them on 4 October 2026 and list the pages used.
- Axis Bank: axis.bank.in/loans/car-loan/interest-rates-charges · axis.bank.in/loans/two-wheeler-loans · axis.bank.in/loans/car-loan/used-car-loan · axis.bank.in/agri-and-rural/loans/tractor-loans · axis.bank.in/loans/commercial-vehicle-construction-equipment-loan/new-commercial-vehicle-construction-equipment-loan · axis.bank.in/loans/commercial-vehicle-construction-equipment-loan/used-commercial-vehicle-loan
- Chola: cholamandalam.com/get-new-car-loans · files.cholamandalam.com/files/Interest+Rate+Policy+-+Mar2026.pdf · cholamandalam.com/get-two-wheeler-loans · cholamandalam.com/get-used-car-loans · cholamandalam.com/get-three-wheeler-loans · cholamandalam.com/get-tractor-loans
- IDFC FIRST Bank: idfcfirst.bank.in/personal-banking/loans/car-loan · idfcfirst.bank.in/personal-banking/loans/car-loan/fees-and-charges · idfcfirst.bank.in/personal-banking/loans/two-wheeler-loan · idfcfirst.bank.in/personal-banking/loans/two-wheeler-loan/fees-and-charges · idfcfirst.bank.in/personal-banking/loans/pre-owned-car-loan · idfcfirst.bank.in/personal-banking/loans/pre-owned-car-loan/fees-and-charges
Method: we list only figures we could find on the loan provider's official pages. A blank means the loan provider does not publish that figure, and we never estimate one. Rankings use the published starting rate and published maximum tenure only. Read our editorial policy, how we make money and tell us about an error.
More loan provider comparisons
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Head-to-head pages for these three loan providers
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Frequently asked questions
Which is better for a car loan: Axis Bank, Chola or IDFC FIRST Bank?
For a car loan, Axis Bank advertises the lowest starting rate here (8.90%), versus 9% at Chola and 8.99% at IDFC FIRST Bank. IDFC FIRST Bank allows the longer maximum tenure (10 years (120 months)). A starting rate is the best case, not a typical offer, so confirm the annual percentage rate (APR) and total repayable amount in each loan provider's Key Fact Statement. Figures are as published on the loan providers' own websites and checked 4 October 2026. The better choice depends on your profile, the loan amount and the fees in your offer letter.
Which has the lower car loan interest rate: Axis Bank, Chola or IDFC FIRST Bank?
Axis Bank has the lower published starting rate. Published starting rates: Axis Bank 8.90%, Chola 9% and IDFC FIRST Bank 8.99% (checked 4 October 2026). Your actual rate depends on your credit profile and the loan provider's approval.
What is the processing fee on a car loan at Axis Bank, Chola and IDFC FIRST Bank?
Axis Bank: Up to 2% of loan + GST; documentation Rs 700 + GST. Chola: 0.5% - 2.5% + sourcing fee Rs 1,000 - 2,500. IDFC FIRST Bank: Up to 5% of loan amount (incl. GST). Fees can change and GST is usually extra, so check the Key Fact Statement.
What is the maximum car loan tenure at Axis Bank, Chola and IDFC FIRST Bank?
Axis Bank: up to 8 years (per axis bank car loan calculator). Chola: not published. IDFC FIRST Bank: 10 years (120 months).
What is the EMI on a ₹10 lakh car loan at Axis Bank, Chola and IDFC FIRST Bank?
Over 60 months at each loan provider's lowest published rate: Axis Bank about ₹20,710 a month at 8.90%; Chola about ₹20,758 a month at 9%; IDFC FIRST Bank about ₹20,754 a month at 8.99%. This is an illustration that leaves out fees, GST and insurance. Your offered rate may be higher.
How much of the vehicle price can I borrow on a car loan from Axis Bank, Chola and IDFC FIRST Bank?
Axis Bank: Up to 100% of on-road price. Chola: Up to 100% on-road. IDFC FIRST Bank: Up to 100% of on-road price. Funding is usually profile-based, so the loan provider decides the final amount.
What other terms do Axis Bank, Chola and IDFC FIRST Bank publish for a car loan?
Chola: In-principle sanction at customer's place; Low down payment. IDFC FIRST Bank: Longest tenure among peers at 10 years; Online car marketplace. Check each loan provider's page for eligibility and documents before you apply.
Can I prepay or foreclose a car loan early at Axis Bank, Chola and IDFC FIRST Bank?
Axis Bank: not published. Chola: Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST. IDFC FIRST Bank: 5% of principal outstanding + GST if booked on fixed rate; part-payment 5% + GST. Floating-rate loans to individuals cannot carry pre-closure charges; fixed-rate loans often do.
Which vehicle loans do Axis Bank, Chola and IDFC FIRST Bank publish rates for?
Axis Bank: car loan, two-wheeler loan. Chola: car loan, two-wheeler loan, used car loan, three-wheeler loan, tractor loan. IDFC FIRST Bank: car loan, two-wheeler loan, used car loan, tractor loan. Based on each loan provider's own website, checked 4 October 2026.
Are the rates on this page the rate I will get?
No. They are the rates the loan providers publish, usually a range or a starting rate. Your approved rate depends on your credit score, income, loan amount, tenure and vehicle. Always read the Key Fact Statement before you sign.
Does KhatuLoans lend money or charge for this comparison?
KhatuLoans is not a loan provider. The loan provider decides approval, rate and terms. Our comparisons are free to read, and we are not paid by the loan providers named here to rank them. See how we make money on our advertiser disclosure page.
KhatuLoans is not a loan provider and is not paid by the loan providers named here to rank them. Rates, fees and prices change; always confirm with the loan provider and dealer. Read our editorial policy and how we make money.