Bajaj Finance vs SBI vs Yes Bank at a glance
| Detail | Bajaj Finance | SBI | Yes Bank |
|---|---|---|---|
| Loan provider type | NBFC | Public sector bank | Private bank |
| Legal name | Bajaj Finance Ltd | State Bank of India | Yes Bank |
| Vehicle loans with a published rate | Car loan, Two-wheeler loan, Used car loan, Three-wheeler loan | Car loan, Two-wheeler loan, Used car loan, Electric car loan | Not published |
| Official website | bajajfinserv.in | sbi.bank.in | yes.bank.in |
Bajaj Finance vs SBI vs Yes Bank car loan: rate, fees and tenure
Only Bajaj Finance and SBI publish a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Bajaj Finance lists the longer maximum tenure (12-96 months). Yes Bank does not publish a car loan rate on its website, so none is shown.
| Detail | Bajaj Finance | SBI | Yes Bank |
|---|---|---|---|
| Product | New Car Finance | SBI New Car Loan Scheme | YES BANK Car Loan |
| Published rate | Up to 12.25% p.a. | 8.40% - 9.35% | Not published |
| Rate basis | Not published | MCLR-linked (per SBI auto loan rate page) | Not published |
| Maximum tenure | 12-96 months | 7 years | 96* months |
| Maximum funding | Up to 100% of on-road price; loans up to Rs 10 crore | Up to 100% of on-road price | Up to 100% of on-road price |
| Processing fee | Up to 2.95% of loan amount (incl. taxes) | Rs 1,000-3,000 + GST (salaried) / Rs 1,500-4,000 + GST (non-salaried), slab by loan amount | Not published |
| Pre-closure / prepayment | Foreclosure up to 4.72% (incl. taxes) of outstanding, after 24 months with no bounces; part-prepayment up to 4.72% of principal prepaid | No prepayment charges; no foreclosure charges after 2 years (as published) | Not published |
| Other terms published | Not published |
|
|
| Official source | bajajfinserv.in bajajfinserv.in bajajfinserv.in | sbi.bank.in sbi.bank.in sbi.bank.in | yes.bank.in |
Read the full guide: Car loan · EMI calculator
Bajaj Finance vs SBI vs Yes Bank two-wheeler loan: rate, fees and tenure
Only Bajaj Finance and SBI publish a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Yes Bank does not publish a two-wheeler loan rate on its website, so none is shown.
| Detail | Bajaj Finance | SBI | Yes Bank |
|---|---|---|---|
| Product | Two-Wheeler Finance | SBI Two Wheeler Loan Scheme | Not published |
| Published rate | Up to 24.25% p.a. | 11.70% - 15.70% | Not published |
| Rate basis | Not published | MCLR-linked (1-year MCLR) | Not published |
| Maximum tenure | Not published | Up to 60 months | Not published |
| Maximum funding | Up to 100% of on-road price (promotional text) | 85% of on-road price; max Rs 3 lakh | Not published |
| Processing fee | Up to 5% of loan amount (incl. taxes) | 3% of loan + GST (50% waiver for salary package customers) | Not published |
| Pre-closure / prepayment | Foreclosure up to 4.72% (incl. taxes) of outstanding; part-prepayment up to 4.72% of principal prepaid | Not published | Not published |
| Other terms published |
|
| Not published |
| Official source | bajajfinserv.in bajajfinserv.in | sbi.bank.in sbi.bank.in sbi.bank.in | Not published |
Read the full guide: Two-wheeler loan · EMI calculator
Bajaj Finance vs SBI vs Yes Bank used car loan: rate, fees and tenure
Starting used car loan rates as published: Bajaj Finance from 10% and SBI from 10.45%. Bajaj Finance is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered. Bajaj Finance lists the longer maximum tenure (12-84 months). Yes Bank does not publish a used car loan rate on its website, so none is shown.
| Detail | Bajaj Finance | SBI | Yes Bank |
|---|---|---|---|
| Product | Used Car Finance | SBI Certified Pre-Owned Car Loan | Used Car Loan |
| Published rate | 10% - 18.25% p.a. | 10.45% - 15.60%credit-score based | Not published |
| Rate basis | Not published | MCLR-linked (1-year MCLR) | Not published |
| Maximum tenure | 12-84 months | Up to 5 years (10 years minus vehicle age) | Not published |
| Maximum funding | Rs 1 lakh to Rs 2.5 crore | Up to 85% of valuation; loan Rs 2 lakh - Rs 150 lakh | Zero down payment offered |
| Processing fee | Up to 2.95% of loan amount (incl. taxes) | 1.50% of loan + GST (min Rs 3,000, max Rs 10,000 + GST) | Not published |
| Pre-closure / prepayment | Foreclosure up to 4.72% (incl. taxes) of outstanding; part-prepayment up to 4.72% of principal prepaid | Not published | Not published |
| Other terms published | Not published |
|
|
| Official source | bajajfinserv.in bajajfinserv.in | sbi.bank.in sbi.bank.in sbi.bank.in | yes.bank.in |
EMI illustration: ₹5 lakh over 48 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Bajaj Finance | 10% | ₹12,681 | ₹1,08,702 | ₹6,08,702 |
| SBI | 10.45% | ₹12,790 | ₹1,13,902 | ₹6,13,902 |
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 | Bajaj Finance (10%) | SBI (10.45%) |
|---|---|---|
| ₹3 lakh | ₹7,609 | ₹7,674 |
| ₹5 lakh | ₹12,681 | ₹12,790 |
| ₹8 lakh | ₹20,290 | ₹20,463 |
Read the full guide: Used car loan · EMI calculator
Bajaj Finance vs SBI vs Yes Bank electric car loan: rate, fees and tenure
Only SBI publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Bajaj Finance and Yes Bank do not publish an electric car loan rate on their website, so none is shown.
| Detail | Bajaj Finance | SBI | Yes Bank |
|---|---|---|---|
| Product | Not published | SBI Green Car Loan | Not published |
| Published rate | Not published | 8.30% - 9.35% | Not published |
| Rate basis | Not published | MCLR-linked (per SBI auto loan rate page) | Not published |
| Maximum tenure | Not published | Up to 8 years | Not published |
| Maximum funding | Not published | Up to 100% of on-road price | Not published |
| Processing fee | Not published | Nil | Not published |
| Other terms published | Not published |
| Not published |
| Official source | Not published | sbi.bank.in sbi.bank.in sbi.bank.in | Not published |
Read the full guide: Electric car loan
Bajaj Finance vs SBI vs Yes Bank three-wheeler loan: rate, fees and tenure
Only Bajaj Finance publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. SBI and Yes Bank do not publish a three-wheeler loan rate on their website, so none is shown.
| Detail | Bajaj Finance | SBI | Yes Bank |
|---|---|---|---|
| Product | Three-Wheeler Finance | Not published | Not published |
| Published rate | Up to 27.25% p.a. | Not published | Not published |
| Processing fee | Up to 5% of loan amount (incl. taxes) | Not published | Not published |
| Pre-closure / prepayment | Foreclosure up to 4.72% (incl. taxes) of outstanding; part-prepayment up to 4.72% of principal prepaid | Not published | Not published |
| Official source | bajajfinserv.in | Not published | Not published |
Read the full guide: Three-wheeler loan
Which is better: Bajaj Finance, SBI or Yes Bank?
No loan provider is best for everyone. This is how the published figures split, product by product.
- Car loan, longer maximum tenure: Bajaj Finance (12-96 months). A longer tenure lowers the EMI but raises total interest.
- Used car loan, longer maximum tenure: Bajaj Finance (12-84 months). 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 Finance is a nbfc, SBI is a public sector bank and Yes Bank is a private bank.
What the loan providers' own pages say about how their rates are set:
- Bajaj Finance publishes only a ceiling for its car loan (Up to 12.25% p.a.), so it cannot be ranked on a starting rate.
- Bajaj Finance publishes only a ceiling for its two-wheeler loan (Up to 24.25% p.a.), so it cannot be ranked on a starting rate.
- Bajaj Finance publishes only a ceiling for its three-wheeler loan (Up to 27.25% p.a.), so it cannot be ranked on a starting rate.
- SBI car loan: MCLR-linked (per SBI auto loan rate page).
- SBI two-wheeler loan: MCLR-linked (1-year MCLR).
- SBI used car loan: MCLR-linked (1-year MCLR).
- SBI electric car loan: MCLR-linked (per SBI auto loan rate page).
- SBI tractor loan: MCLR-linked (1-year MCLR).
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 Finance, SBI and Yes Bank
Bajaj Finance
NBFC · Bajaj Finance Ltd
Large diversified consumer-lending NBFC; vehicle finance alongside personal, consumer durable, home and business loans
Lowest published starting rate: 10% (Used car loan)
SBI
Public sector bank · State Bank of India
India's largest bank, offering MCLR-linked car, green (EV) car, certified pre-owned car and two-wheeler loans, plus SME commercial vehicle and agri tractor loans.
Lowest published starting rate: 8.30% (Electric car loan)
Yes Bank
Private bank
Private bank offering new and used car loans with up to 100% on-road funding and long tenures, plus commercial vehicle finance; it does not publish car loan rates on its product pages.
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 Finance: bajajfinserv.in/new-car-finance-interest-rates-and-charges · bajajfinserv.in/new-car-loan · bajajfinserv.in/all-fees-and-charges · bajajfinserv.in/two-wheeler-loan-interest-rates · bajajfinserv.in/used-car-loan · bajajfinserv.in/tractor-loan
- SBI: sbi.bank.in/web/personal-banking/loans/auto-loans/sbi-new-car-loan-scheme · sbi.bank.in/web/interest-rates/interest-rates/loan-schemes-interest-rates/auto-loans · sbi.bank.in/web/interest-rates/interest-rates/processing-fees · sbi.bank.in/web/personal-banking/loans/auto-loans/sbi-two-wheeler-loan-scheme · sbi.bank.in/web/personal-banking/loans/auto-loans/certified-pre-owned-car-loan · sbi.bank.in/web/personal-banking/loans/auto-loans/green-car-loan
- Yes Bank: yes.bank.in/personal-banking/yes-individual/loans/car-loans · yes.bank.in/personal-banking/yes-individual/loans/used-car-loan · yes.bank.in/business-banking/loans/commercial-vehicle-financing
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.
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Frequently asked questions
Which is better for a vehicle loan: Bajaj Finance, SBI or Yes Bank?
These loan providers do not all publish a rate for the same vehicle loan, so they cannot be ranked on rate alone here. Compare the fees, tenure and pre-closure terms in the tables above and ask each loan provider for its Key Fact Statement.
Which vehicle loans do Bajaj Finance, SBI and Yes Bank publish rates for?
Bajaj Finance: car loan, two-wheeler loan, used car loan, three-wheeler loan. SBI: car loan, two-wheeler loan, used car loan, electric car loan. Yes Bank: no published rate found. 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.