Bajaj Auto Credit vs Punjab National Bank vs TVS Credit at a glance
| Detail | Bajaj Auto Credit | Punjab National Bank | TVS Credit |
|---|---|---|---|
| Loan provider type | NBFC | Public sector bank | NBFC |
| Legal name | Bajaj Auto Credit Ltd (BACL) | Punjab National Bank | TVS Credit Services Ltd |
| Vehicle loans with a published rate | Two-wheeler loan, Electric two- and three-wheeler loan, Three-wheeler loan | Car loan, Two-wheeler loan, Used car loan, Electric car loan | Two-wheeler loan, Used car loan, Three-wheeler loan, Tractor loan, Commercial vehicle loan |
| Two-wheeler loan: published rate | Up to 30% p.a.annualised customer IRR | From 10.00%Power Ride; 10.85% salaried; 11.35% others | Up to 36% p.a.policy, 2023 |
| Two-wheeler loan: maximum tenure | 3-60 months | 60 EMIs (scooters/motorcycles) | 12-60 months |
| Official website | bajajautocredit.com | pnb.bank.in | tvscredit.com |
Bajaj Auto Credit vs Punjab National Bank vs TVS Credit car loan: rate, fees and tenure
Only Punjab National Bank publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Bajaj Auto Credit and TVS Credit do not publish a car loan rate on their website, so none is shown.
| Detail | Bajaj Auto Credit | Punjab National Bank | TVS Credit |
|---|---|---|---|
| Product | Not published | PNB Car Loan | Not published |
| Published rate | Not published | From 7.60%up to 9.70% floating, CIBIL-based | Not published |
| Rate basis | Not published | RLLR-linked (floating); fixed option available | Not published |
| Maximum tenure | Not published | 84 months | Not published |
| Maximum funding | Not published | 85% of on-road price (90% with manufacturer tie-ups); individuals up to Rs 100 lakh | Not published |
| Processing fee | Not published | 0.25% of loan (min Rs 1,000, max Rs 1,500); nil documentation | Not published |
| Pre-closure / prepayment | Not published | Floating: nil; fixed: 2% on amount prepaid (exceptions apply) | Not published |
| Other terms published | Not published |
| Not published |
| Official source | Not published | pnb.bank.in pnb.bank.in pnb.bank.in | Not published |
Read the full guide: Car loan · EMI calculator
Bajaj Auto Credit vs Punjab National Bank vs TVS Credit two-wheeler loan: rate, fees and tenure
Only Bajaj Auto Credit, Punjab National Bank and TVS Credit publish a rate for this product with a stated starting figure, so a like-for-like ranking is not possible.
| Detail | Bajaj Auto Credit | Punjab National Bank | TVS Credit |
|---|---|---|---|
| Product | Two-Wheeler Loan | PNB Saarthi / PNB Power Ride (women) | Two Wheeler Loan |
| Published rate | Up to 30% p.a.annualised customer IRR | From 10.00%Power Ride; 10.85% salaried; 11.35% others | Up to 36% p.a.policy, 2023 |
| Rate basis | Not published | RLLR-linked | Fixed IRR |
| Maximum tenure | 3-60 months | 60 EMIs (scooters/motorcycles) | 12-60 months |
| Maximum funding | Rs 9,999 to Rs 20 lakh | 90% (salaried, salary via PNB) or 75% of cost; max Rs 1.5 lakh (Rs 10 lakh for 200cc+) | Up to 95% of on-road price |
| Processing fee | Up to 5% of loan amount | 0.50% of loan (min Rs 500, max Rs 1,000) | New 2W up to 8.85%; used 2W up to 5.9% (incl. GST) |
| Pre-closure / prepayment | 'Nominal foreclosure charges' (no figure published on page) | Nil | 3% of principal outstanding up to 12 months; 4% for 12-24 months; 5% after 24 months |
| Other terms published |
|
|
|
| Official source | bajajautocredit.com | pnb.bank.in pnb.bank.in pnb.bank.in | tvscredit.com tvscredit.com tvscredit.com |
Read the full guide: Two-wheeler loan · EMI calculator
Bajaj Auto Credit vs Punjab National Bank vs TVS Credit used car loan: rate, fees and tenure
Only Punjab National Bank and TVS Credit publish a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Bajaj Auto Credit does not publish a used car loan rate on its website, so none is shown.
| Detail | Bajaj Auto Credit | Punjab National Bank | TVS Credit |
|---|---|---|---|
| Product | Not published | PNB Car Loan (used vehicles) | Used Car Loan |
| Published rate | Not published | From 9.45% floating / 10.45% fixed | Up to 30% p.a.policy, 2023 |
| Rate basis | Not published | RLLR-linked (floating) or fixed | Fixed IRR |
| Maximum tenure | Not published | 60 months | 12-60 months |
| Maximum funding | Not published | 75% of vehicle value (25% margin); vehicle up to 3 years old | Up to 95% of asset value |
| Processing fee | Not published | Not published | Up to 5.9% (schedule of charges) |
| Pre-closure / prepayment | Not published | Floating: nil; fixed: 2% on amount prepaid | 6.5% of principal outstanding up to 12 months; 6% for 12-24 months; 5.5% after 24 months |
| Other terms published | Not published |
|
|
| Official source | Not published | pnb.bank.in pnb.bank.in | tvscredit.com tvscredit.com tvscredit.com |
Read the full guide: Used car loan · EMI calculator
Bajaj Auto Credit vs Punjab National Bank vs TVS Credit electric car loan: rate, fees and tenure
Only Punjab National Bank publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Bajaj Auto Credit and TVS Credit do not publish an electric car loan rate on their website, so none is shown.
| Detail | Bajaj Auto Credit | Punjab National Bank | TVS Credit |
|---|---|---|---|
| Product | Not published | PNB Green Car (E-Vehicle) Loan | Not published |
| Published rate | Not published | From 7.60% | Not published |
| Rate basis | Not published | RLLR-linked | Not published |
| Maximum tenure | Not published | 120 EMIs (10 years) | Not published |
| Maximum funding | Not published | 90% of on-road price (10% margin), or nil margin on ex-showroom price | Not published |
| Processing fee | Not published | Nil | Not published |
| Pre-closure / prepayment | Not published | Nil | Not published |
| Other terms published | Not published |
| Not published |
| Official source | Not published | pnb.bank.in pnb.bank.in | Not published |
Read the full guide: Electric car loan
Bajaj Auto Credit vs Punjab National Bank vs TVS Credit electric two- and three-wheeler loan: rate, fees and tenure
Only Bajaj Auto Credit publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Punjab National Bank and TVS Credit do not publish an electric two- and three-wheeler loan rate on their website, so none is shown.
| Detail | Bajaj Auto Credit | Punjab National Bank | TVS Credit |
|---|---|---|---|
| Product | Covered under Intracity Commercial Vehicle Loan | Not published | Electric Vehicle on EMI (under two-wheeler loans) |
| Published rate | Up to 30% p.a.annualised customer IRR | Not published | Not published |
| Maximum tenure | 3-84 months | Not published | Not published |
| Maximum funding | Rs 10,000 to Rs 5 lakh | Not published | Not published |
| Processing fee | Up to 5% of loan amount | Not published | Not published |
| Other terms published |
| Not published |
|
| Official source | bajajautocredit.com | Not published | tvscredit.com |
Read the full guide: Electric two- and three-wheeler loan
Bajaj Auto Credit vs Punjab National Bank vs TVS Credit three-wheeler loan: rate, fees and tenure
Only Bajaj Auto Credit and TVS Credit publish a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Bajaj Auto Credit lists the longer maximum tenure (3-84 months). Punjab National Bank does not publish a three-wheeler loan rate on its website, so none is shown.
| Detail | Bajaj Auto Credit | Punjab National Bank | TVS Credit |
|---|---|---|---|
| Product | Intracity Commercial Vehicle Loan (three-wheelers and Qute) | Not published | Three Wheeler Loan |
| Published rate | Up to 30% p.a.annualised customer IRR | Not published | 13% - 29% p.a.policy, 2023 |
| Rate basis | Not published | Not published | Fixed IRR |
| Maximum tenure | 3-84 months | Not published | 4 years |
| Maximum funding | Rs 10,000 to Rs 5 lakh | Not published | Based on vehicle and customer profile |
| Processing fee | Up to 5% of loan amount | Not published | Up to 5.9% |
| Pre-closure / prepayment | 'Nominal foreclosure charges' (no figure published on page) | Not published | 3% of principal outstanding up to 12 months; 4% for 12-24 months; 5% after 24 months |
| Other terms published |
| Not published |
|
| Official source | bajajautocredit.com | Not published | tvscredit.com tvscredit.com tvscredit.com |
Read the full guide: Three-wheeler loan
Bajaj Auto Credit vs Punjab National Bank vs TVS Credit tractor loan: rate, fees and tenure
Only TVS Credit publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Punjab National Bank lists the longer maximum tenure (new tractor: 7-9 years; no-mortgage variant: 5 years). Bajaj Auto Credit and Punjab National Bank do not publish a tractor loan rate on their website, so none is shown.
| Detail | Bajaj Auto Credit | Punjab National Bank | TVS Credit |
|---|---|---|---|
| Product | Not published | PNB Farm Mechanisation Scheme (tractor financing) | Tractor Loan (also Used Tractor Loan) |
| Published rate | Not published | Not published | New 11% - 25% p.a.; used 14% - 34% p.a.policy, 2023 |
| Rate basis | Not published | Not published | Fixed IRR |
| Maximum tenure | Not published | New tractor: 7-9 years; no-mortgage variant: 5 years | 12-72 months |
| Maximum funding | Not published | Need based, net of margin (min 40% margin for no-mortgage variant) | Up to 90% of tractor price |
| Processing fee | Not published | Not published | Up to 5.9% |
| Pre-closure / prepayment | Not published | Not published | 6% of future principal outstanding up to 12 months; 5% after |
| Other terms published | Not published |
|
|
| Official source | Not published | pnb.bank.in pnb.bank.in | tvscredit.com tvscredit.com tvscredit.com |
Read the full guide: Tractor loan
Bajaj Auto Credit vs Punjab National Bank vs TVS Credit commercial vehicle loan: rate, fees and tenure
Only TVS Credit publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Bajaj Auto Credit and Punjab National Bank do not publish a commercial vehicle loan rate on their website, so none is shown.
| Detail | Bajaj Auto Credit | Punjab National Bank | TVS Credit |
|---|---|---|---|
| Product | Not published | Not published | Used Commercial Vehicle Loan (used only) |
| Published rate | Not published | Not published | Up to 30% p.a.policy, 2023 |
| Rate basis | Not published | Not published | Fixed IRR |
| Maximum tenure | Not published | Not published | 6-36 months |
| Processing fee | Not published | Not published | Up to 5.9% |
| Pre-closure / prepayment | Not published | Not published | 4% of principal outstanding up to 12 months; 5% for 13-36 months; 6% after 36 months |
| Other terms published | Not published | Not published |
|
| Official source | Not published | Not published | tvscredit.com tvscredit.com tvscredit.com |
Read the full guide: Commercial vehicle loan
Which is better: Bajaj Auto Credit, Punjab National Bank or TVS Credit?
No loan provider is best for everyone. This is how the published figures split, product by product.
- Three-wheeler loan, longer maximum tenure: Bajaj Auto Credit (3-84 months). A longer tenure lowers the EMI but raises total interest.
- Tractor loan, longer maximum tenure: Punjab National Bank (new tractor: 7-9 years; no-mortgage variant: 5 years). 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
Bajaj Auto Credit and TVS Credit are nbfcs and Punjab National Bank is a public sector bank.
What the loan providers' own pages say about how their rates are set:
- Bajaj Auto Credit publishes only a ceiling for its two-wheeler loan (Up to 30% p.a.), so it cannot be ranked on a starting rate.
- Bajaj Auto Credit publishes only a ceiling for its electric two- and three-wheeler loan (Up to 30% p.a.), so it cannot be ranked on a starting rate.
- Bajaj Auto Credit publishes only a ceiling for its three-wheeler loan (Up to 30% p.a.), so it cannot be ranked on a starting rate.
- Punjab National Bank car loan: RLLR-linked (floating); fixed option available.
- Punjab National Bank two-wheeler loan: RLLR-linked.
- Punjab National Bank used car loan: RLLR-linked (floating) or fixed.
- Punjab National Bank electric car loan: RLLR-linked.
- TVS Credit two-wheeler loan: Fixed IRR.
- TVS Credit publishes only a ceiling for its two-wheeler loan (Up to 36% p.a.), so it cannot be ranked on a starting rate.
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 Bajaj Auto Credit, Punjab National Bank and TVS Credit
Bajaj Auto Credit
NBFC · Bajaj Auto Credit Ltd (BACL)
Captive financier of Bajaj Auto, financing Bajaj two-wheelers, three-wheelers and Qute
Punjab National Bank
Public sector bank
Public sector bank with RLLR-linked vehicle loans, low capped processing fees and rate concessions for women and electric vehicles.
Lowest published starting rate: 7.60% (Car loan)
TVS Credit
NBFC · TVS Credit Services Ltd
Captive-linked financier for TVS Motor two-wheelers with wide rural reach; also used car, tractor, 3W and used CV loans
Lowest published starting rate: 11% (Tractor 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.
- Bajaj Auto Credit: bajajautocredit.com/two-wheeler-loan-interest-rates · bajajautocredit.com/three-wheeler-loan-interest-rates
- Punjab National Bank: pnb.bank.in/carloaninnerpage.html · pnb.bank.in/Retail-Advances-interst-rate-on-advances-linked-to-mclr.html · pnb.bank.in/service-charges-related-to-retail-advances.html · pnb.bank.in/pnbsaarthi.html · pnb.bank.in/PNB-GREEN-CAR-LOAN.html · pnb.bank.in/agriculture-credit-schemes.html
- TVS Credit: tvscredit.com/loans/two-wheeler-loans/ · tvscredit.com/wp-content/uploads/2023/11/Interest-Rate-Policy-Ver-2.1-Final.pdf · tvscredit.com/wp-content/uploads/2026/08/Schedule-of-Charges_-V4.2.pdf · tvscredit.com/loans/used-car-loans/ · tvscredit.com/loans/three-wheeler-loans/ · tvscredit.com/loans/tractor-loans/
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
Bajaj Auto Credit compared with other loan providers
Punjab National Bank compared with other loan providers
TVS Credit compared with other loan providers
Head-to-head pages for these three loan providers
Compare any two or three loan providers · Personal loans · Home loans · Vehicle loans
Frequently asked questions
Which is better for a two-wheeler loan: Bajaj Auto Credit, Punjab National Bank or TVS Credit?
On the two-wheeler loan, Bajaj Auto Credit publishes Up to 30% p.a., while Punjab National Bank publishes From 10.00%, while TVS Credit publishes Up to 36% p.a.. One of them gives only a ceiling or a different rate basis, so they cannot be ranked on a starting rate. 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.
What is the processing fee on a two-wheeler loan at Bajaj Auto Credit, Punjab National Bank and TVS Credit?
Bajaj Auto Credit: Up to 5% of loan amount. Punjab National Bank: 0.50% of loan (min Rs 500, max Rs 1,000). TVS Credit: New 2W up to 8.85%; used 2W up to 5.9% (incl. GST). Fees can change and GST is usually extra, so check the Key Fact Statement.
What is the maximum two-wheeler loan tenure at Bajaj Auto Credit, Punjab National Bank and TVS Credit?
Bajaj Auto Credit: 3-60 months. Punjab National Bank: 60 emis (scooters/motorcycles). TVS Credit: 12-60 months.
How much of the vehicle price can I borrow on a two-wheeler loan from Bajaj Auto Credit, Punjab National Bank and TVS Credit?
Bajaj Auto Credit: Rs 9,999 to Rs 20 lakh. Punjab National Bank: 90% (salaried, salary via PNB) or 75% of cost; max Rs 1.5 lakh (Rs 10 lakh for 200cc+). TVS Credit: Up to 95% of on-road price. Funding is usually profile-based, so the loan provider decides the final amount.
What other terms do Bajaj Auto Credit, Punjab National Bank and TVS Credit publish for a two-wheeler loan?
Bajaj Auto Credit: Rate varies by BACL credit and risk policy. Punjab National Bank: PNB Power Ride: lower rate for women. TVS Credit: Also finances used and other-OEM two-wheelers. Check each loan provider's page for eligibility and documents before you apply.
Can I prepay or foreclose a two-wheeler loan early at Bajaj Auto Credit, Punjab National Bank and TVS Credit?
Bajaj Auto Credit: 'Nominal foreclosure charges' (no figure published on page). Punjab National Bank: Nil. TVS Credit: 3% of principal outstanding up to 12 months; 4% for 12-24 months; 5% after 24 months. Floating-rate loans to individuals cannot carry pre-closure charges; fixed-rate loans often do.
Which vehicle loans do Bajaj Auto Credit, Punjab National Bank and TVS Credit publish rates for?
Bajaj Auto Credit: two-wheeler loan, electric two- and three-wheeler loan, three-wheeler loan. Punjab National Bank: car loan, two-wheeler loan, used car loan, electric car loan. TVS Credit: two-wheeler loan, used car loan, three-wheeler loan, tractor loan, commercial vehicle 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.