Bank of India vs Hero FinCorp vs Tata Capital at a glance
| Detail | Bank of India | Hero FinCorp | Tata Capital |
|---|---|---|---|
| Loan provider type | Public sector bank | NBFC | NBFC |
| Legal name | Bank of India | Hero FinCorp Ltd | Tata Capital Ltd |
| Vehicle loans with a published rate | Not published | Car loan, Two-wheeler loan, Used car loan, Electric two- and three-wheeler loan | Car loan, Two-wheeler loan, Used car loan, Commercial vehicle loan |
| Official website | bankofindia.bank.in | herofincorp.com | tatacapital.com |
Bank of India vs Hero FinCorp vs Tata Capital car loan: rate, fees and tenure
Starting car loan rates as published: Hero FinCorp from 9% and Tata Capital from 9.49%. Hero FinCorp is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered. Hero FinCorp lists the longer maximum tenure (120 months). Bank of India does not publish a car loan rate on its website, so none is shown.
| Detail | Bank of India | Hero FinCorp | Tata Capital |
|---|---|---|---|
| Product | Star Vehicle Loan (Individuals) | New Car Loan | New Car Loan |
| Published rate | Not published | 9% - 18% p.a. | From 9.49% p.a. |
| Rate basis | RBLR-linked (unchanged as of 01.09.2026; value not verified) | Not published | Fixed and floating options |
| Maximum tenure | Not published | 120 months | 84 months (product page); rates page calculator shows 72 months |
| Maximum funding | Not published | Up to 100% of on-road price; loan Rs 50,000 to Rs 25 lakh | Up to 100% on-road; loan up to Rs 5 crore |
| Processing fee | Not published | Up to 3% of loan amount | Up to 2.95% of loan amount |
| Pre-closure / prepayment | Not published | Allowed subject to loan agreement terms (no figure published) | 6% of principal outstanding within 12 months; 5% after 12 months (same for part-prepayment) |
| Other terms published | Not published |
|
|
| Official source | bankofindia.bank.in | herofincorp.com | tatacapital.com tatacapital.com |
EMI illustration: ₹10 lakh over 60 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Hero FinCorp | 9% | ₹20,758 | ₹2,45,501 | ₹12,45,501 |
| Tata Capital | 9.49% | ₹20,997 | ₹2,59,818 | ₹12,59,818 |
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 | Hero FinCorp (9%) | Tata Capital (9.49%) |
|---|---|---|
| ₹5 lakh | ₹10,379 | ₹10,498 |
| ₹10 lakh | ₹20,758 | ₹20,997 |
| ₹15 lakh | ₹31,138 | ₹31,495 |
| ₹20 lakh | ₹41,517 | ₹41,994 |
Read the full guide: Car loan · EMI calculator
Bank of India vs Hero FinCorp vs Tata Capital two-wheeler loan: rate, fees and tenure
Starting two-wheeler loan rates as published: Hero FinCorp from 14% and Tata Capital from 12.50%. Tata Capital is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered. Bank of India does not publish a two-wheeler loan rate on its website, so none is shown.
| Detail | Bank of India | Hero FinCorp | Tata Capital |
|---|---|---|---|
| Product | Not published | Two-Wheeler Loan | Two-Wheeler Loan |
| Published rate | Not published | 14% - 36% p.a. | From 12.5% p.a. |
| Rate basis | Not published | Not published | Fixed |
| Maximum tenure | Not published | 60 months | 60 months |
| Maximum funding | Not published | Up to 95% of cost / 100% on-road (as advertised); up to Rs 3.5 lakh | Up to 100% for loans up to Rs 2.85 lakh; up to Rs 15 lakh for premium/superbikes |
| Processing fee | Not published | Varies by approved loan; no figure published | Up to 4% + taxes |
| Pre-closure / prepayment | Not published | Foreclosure charges apply per loan agreement (no figure published) | Foreclosure 5% of principal outstanding; part-prepayment 5% of amount |
| Other terms published | Not published |
|
|
| Official source | Not published | herofincorp.com herofincorp.com | tatacapital.com |
EMI illustration: ₹1 lakh over 36 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Hero FinCorp | 14% | ₹3,418 | ₹23,039 | ₹1,23,039 |
| Tata Capital | 12.50% | ₹3,345 | ₹20,433 | ₹1,20,433 |
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 | Hero FinCorp (14%) | Tata Capital (12.50%) |
|---|---|---|
| ₹0.5 lakh | ₹1,709 | ₹1,673 |
| ₹1 lakh | ₹3,418 | ₹3,345 |
| ₹1.5 lakh | ₹5,127 | ₹5,018 |
Read the full guide: Two-wheeler loan · EMI calculator
Bank of India vs Hero FinCorp vs Tata Capital used car loan: rate, fees and tenure
Starting used car loan rates as published: Hero FinCorp from 11.50% and Tata Capital from 10.49%. Tata Capital is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered. Tata Capital lists the longer maximum tenure (72 months). Bank of India does not publish a used car loan rate on its website, so none is shown.
| Detail | Bank of India | Hero FinCorp | Tata Capital |
|---|---|---|---|
| Product | Not published | Used Car Loan (Pre-Owned Car Loan) | Used Car Loan |
| Published rate | Not published | 11.5% - 26% p.a. | From 10.49% p.a. |
| Rate basis | Not published | Not published | Reducing balance; fixed EMI |
| Maximum tenure | Not published | 60 months | 72 months |
| Maximum funding | Not published | Rs 50,000 to Rs 50 lakh | Up to 95% of car value (100% on select cars); loan up to Rs 50 lakh |
| Processing fee | Not published | Up to 4% | Up to 2.95% of loan amount |
| Pre-closure / prepayment | Not published | 5% of principal outstanding, plus up to 6 months' interest if foreclosed within 6 months of disbursal | 6% of principal outstanding within 12 months; 5% after 12 months (same for part-prepayment) |
| Other terms published | Not published |
|
|
| Official source | Not published | herofincorp.com herofincorp.com | tatacapital.com tatacapital.com |
EMI illustration: ₹5 lakh over 48 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Hero FinCorp | 11.50% | ₹13,045 | ₹1,26,136 | ₹6,26,136 |
| Tata Capital | 10.49% | ₹12,799 | ₹1,14,365 | ₹6,14,365 |
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 | Hero FinCorp (11.50%) | Tata Capital (10.49%) |
|---|---|---|
| ₹3 lakh | ₹7,827 | ₹7,680 |
| ₹5 lakh | ₹13,045 | ₹12,799 |
| ₹8 lakh | ₹20,871 | ₹20,479 |
Read the full guide: Used car loan · EMI calculator
Bank of India vs Hero FinCorp vs Tata Capital electric two- and three-wheeler loan: rate, fees and tenure
Only Hero FinCorp publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Hero FinCorp lists the longer maximum tenure (6-60 months). Bank of India and Tata Capital do not publish an electric two- and three-wheeler loan rate on their website, so none is shown.
| Detail | Bank of India | Hero FinCorp | Tata Capital |
|---|---|---|---|
| Product | Not published | Electric Vehicle Loan (Electric Two Wheeler) | Electric Two-Wheeler Loan; EV Car Loan |
| Published rate | Not published | From 5.99%as advertised on application page | E2W from 12.5% p.a.; EV car from 8.75% p.a.indicative |
| Maximum tenure | Not published | 6-60 months | E2W 48 months; EV car 84 months |
| Maximum funding | Not published | Up to Rs 2 lakh | Up to 100% on-road |
| Processing fee | Not published | 1-2% of loan amount | E2W up to 4% + GST; EV car up to 2% + GST |
| Pre-closure / prepayment | Not published | Not published | E2W 5% of principal outstanding/part-prepayment amount; EV car as per prevailing policy |
| Other terms published | Not published |
|
|
| Official source | Not published | herofincorp.com | tatacapital.com tatacapital.com |
Read the full guide: Electric two- and three-wheeler loan
Bank of India vs Hero FinCorp vs Tata Capital commercial vehicle loan: rate, fees and tenure
Only Tata Capital publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Bank of India and Hero FinCorp do not publish a commercial vehicle loan rate on their website, so none is shown.
| Detail | Bank of India | Hero FinCorp | Tata Capital |
|---|---|---|---|
| Product | Not published | Not published | Commercial Vehicle Loan (new and used) |
| Published rate | Not published | Not published | From 12% p.a.page meta description |
| Maximum tenure | Not published | Not published | IMHCV up to 72 months; SLCV and buses up to 60 months |
| Maximum funding | Not published | Not published | IMHCV up to 100% of ex-showroom; SLCV up to 94% of on-road; buses up to 100% of on-road |
| Processing fee | Not published | Not published | As per sanction letter |
| Pre-closure / prepayment | Not published | Not published | 4% of outstanding or Rs 5,000, whichever higher (excl. GST), with 30 days notice |
| Other terms published | Not published | Not published |
|
| Official source | Not published | Not published | tatacapital.com tatacapital.com |
Read the full guide: Commercial vehicle loan
Which is better: Bank of India, Hero FinCorp or Tata Capital?
No loan provider is best for everyone. This is how the published figures split, product by product.
- Car loan, longer maximum tenure: Hero FinCorp (120 months). A longer tenure lowers the EMI but raises total interest.
- Used car loan, longer maximum tenure: Tata Capital (72 months). A longer tenure lowers the EMI but raises total interest.
- Electric two- and three-wheeler loan, longer maximum tenure: Hero FinCorp (6-60 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
Bank of India is a public sector bank and Hero FinCorp and Tata Capital are nbfcs.
What the loan providers' own pages say about how their rates are set:
- Bank of India car loan: RBLR-linked (unchanged as of 01.09.2026; value not verified).
- Tata Capital car loan: Fixed and floating options.
- Tata Capital two-wheeler loan: Fixed.
- Tata Capital used car loan: Reducing balance; fixed EMI.
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 Bank of India, Hero FinCorp and Tata Capital
Bank of India
Public sector bank
PSU loan provider offering vehicle finance under its Star Vehicle Loan scheme for individuals and other entities, plus tractor and farm-vehicle loans for agriculturists.
Hero FinCorp
NBFC · Hero FinCorp Ltd
Captive financier for Hero MotoCorp two-wheelers, also offering car, personal, business and property loans
Lowest published starting rate: 5.99% (Electric two- and three-wheeler loan)
Tata Capital
NBFC · Tata Capital Ltd
Tata Group's diversified NBFC; absorbed Tata Motors Finance (CV/PV financier for Tata Motors) in May 2025
Lowest published starting rate: 9.49% (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.
- Bank of India: bankofindia.bank.in/vehicle-loan/star-vehicle-loan-individual · bankofindia.bank.in/en/farm-mechanization-loans
- Hero FinCorp: herofincorp.com/new-car-loan · herofincorp.com/two-wheeler-loan-interest-rates · herofincorp.com/two-wheeler-loan · herofincorp.com/pre-owned-car-loan-interest-rates · herofincorp.com/used-car-loans · herofincorp.com/apply-now/electric-vehicle-loan
- Tata Capital: tatacapital.com/vehicle-loan/car-loan.html · tatacapital.com/vehicle-loan/car-loan/interest-rates.html · tatacapital.com/vehicle-loan/two-wheeler-loan/rates-and-charges.html · tatacapital.com/vehicle-loan/used-car-loan/rates-and-charges.html · tatacapital.com/vehicle-loan/used-car-loan/interest-rates-and-charges.html · tatacapital.com/vehicle-loan/electric-two-wheeler-loan.html
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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Tata Capital compared with other loan providers
Head-to-head pages for these three loan providers
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Frequently asked questions
Which is better for a vehicle loan: Bank of India, Hero FinCorp or Tata Capital?
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 Bank of India, Hero FinCorp and Tata Capital publish rates for?
Bank of India: no published rate found. Hero FinCorp: car loan, two-wheeler loan, used car loan, electric two- and three-wheeler loan. Tata Capital: car loan, two-wheeler loan, used car 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.