Canara Bank vs HDFC Bank vs Tata Capital at a glance
| Detail | Canara Bank | HDFC Bank | Tata Capital |
|---|---|---|---|
| Loan provider type | Public sector bank | Private bank | NBFC |
| Legal name | Canara Bank | HDFC Bank | Tata Capital Ltd |
| Vehicle loans with a published rate | Car loan, Two-wheeler loan, Electric car loan | Car loan, Two-wheeler loan, Used car loan | Car loan, Two-wheeler loan, Used car loan, Commercial vehicle loan |
| Car loan: published rate | 7.50% - 10.70% | 7.60% - 14.00%rates given to customers, Apr-Jun 2026; average 8.63%; rack rate from 9% onwards | From 9.49% p.a. |
| Car loan: maximum tenure | 84 months | Up to 7 years | 84 months (product page); rates page calculator shows 72 months |
| Two-wheeler loan: published rate | 10.10% - 15.00% | 9.99% - 25.02%rates given to customers, Apr-Jun 2026; average 18.22%; rack rate from 14.50% | From 12.5% p.a. |
| Two-wheeler loan: maximum tenure | Not published | Not published | 60 months |
| Official website | canarabank.bank.in | hdfc.bank.in | tatacapital.com |
Canara Bank vs HDFC Bank vs Tata Capital car loan: rate, fees and tenure
Starting car loan rates as published: Canara Bank from 7.50%, HDFC Bank from 7.60% and Tata Capital from 9.49%. Canara Bank is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered.
| Detail | Canara Bank | HDFC Bank | Tata Capital |
|---|---|---|---|
| Product | Canara Vehicle (4-Wheeler) | HDFC Bank New Car Loan | New Car Loan |
| Published rate | 7.50% - 10.70% | 7.60% - 14.00%rates given to customers, Apr-Jun 2026; average 8.63%; rack rate from 9% onwards | From 9.49% p.a. |
| Rate basis | RLLR-linked (RLLR 8.00% w.e.f. 12.03.2026); rate by credit risk grade | Not published | Fixed and floating options |
| Maximum tenure | 84 months | Up to 7 years | 84 months (product page); rates page calculator shows 72 months |
| Maximum funding | Up to 90% (margin 10% up to ₹10 lakh; 10-15% ₹10-25 lakh; 20% above ₹25 lakh) | Up to 100% (profile-based) | Up to 100% on-road; loan up to Rs 5 crore |
| Processing fee | 0.25% (min ₹1,000, max ₹5,000) + GST; 100% waiver 01.10.2026-31.12.2026 (Retail Loan Festival) | Up to 0.5% of loan (min Rs 3,500, max Rs 8,000) | Up to 2.95% of loan amount |
| Pre-closure / prepayment | No pre-payment penalty | Full pre-closure: 6% of principal within 1 year, 5% in months 13-24, 3% after 24 months (loans from 1 Dec 2025) | 6% of principal outstanding within 12 months; 5% after 12 months (same for part-prepayment) |
| Other terms published |
| Not published |
|
| Official source | canarabank.bank.in canarabank.bank.in | hdfc.bank.in | tatacapital.com tatacapital.com |
EMI illustration: ₹10 lakh over 60 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Canara Bank | 7.50% | ₹20,038 | ₹2,02,277 | ₹12,02,277 |
| HDFC Bank | 7.60% | ₹20,086 | ₹2,05,130 | ₹12,05,130 |
| 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 | Canara Bank (7.50%) | HDFC Bank (7.60%) | Tata Capital (9.49%) |
|---|---|---|---|
| ₹5 lakh | ₹10,019 | ₹10,043 | ₹10,498 |
| ₹10 lakh | ₹20,038 | ₹20,086 | ₹20,997 |
| ₹15 lakh | ₹30,057 | ₹30,128 | ₹31,495 |
| ₹20 lakh | ₹40,076 | ₹40,171 | ₹41,994 |
Read the full guide: Car loan · EMI calculator
Canara Bank vs HDFC Bank vs Tata Capital two-wheeler loan: rate, fees and tenure
Starting two-wheeler loan rates as published: Canara Bank from 10.10%, HDFC Bank from 9.99% and Tata Capital from 12.50%. HDFC Bank is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered.
| Detail | Canara Bank | HDFC Bank | Tata Capital |
|---|---|---|---|
| Product | Canara Vehicle (2-Wheeler) | HDFC Bank Two Wheeler Loan | Two-Wheeler Loan |
| Published rate | 10.10% - 15.00% | 9.99% - 25.02%rates given to customers, Apr-Jun 2026; average 18.22%; rack rate from 14.50% | From 12.5% p.a. |
| Rate basis | RLLR-linked (RLLR 8.00%); rate by credit risk grade | Fixed (floating not offered) | Fixed |
| Maximum tenure | Not published | Not published | 60 months |
| Maximum funding | Not published | Not published | Up to 100% for loans up to Rs 2.85 lakh; up to Rs 15 lakh for premium/superbikes |
| Processing fee | Not published | Up to 2.5% of loan, plus documentation charges up to 2.25% | Up to 4% + taxes |
| Pre-closure / prepayment | Not published | 5% of principal outstanding up to 24 months, 3% after | Foreclosure 5% of principal outstanding; part-prepayment 5% of amount |
| Other terms published |
| Not published |
|
| Official source | canarabank.bank.in | hdfc.bank.in | tatacapital.com |
EMI illustration: ₹1 lakh over 36 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Canara Bank | 10.10% | ₹3,231 | ₹16,331 | ₹1,16,331 |
| HDFC Bank | 9.99% | ₹3,226 | ₹16,145 | ₹1,16,145 |
| 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 | Canara Bank (10.10%) | HDFC Bank (9.99%) | Tata Capital (12.50%) |
|---|---|---|---|
| ₹0.5 lakh | ₹1,616 | ₹1,613 | ₹1,673 |
| ₹1 lakh | ₹3,231 | ₹3,226 | ₹3,345 |
| ₹1.5 lakh | ₹4,847 | ₹4,839 | ₹5,018 |
Read the full guide: Two-wheeler loan · EMI calculator
Canara Bank vs HDFC Bank vs Tata Capital used car loan: rate, fees and tenure
Starting used car loan rates as published: HDFC Bank from 9.50% and Tata Capital from 10.49%. HDFC Bank 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). Canara Bank does not publish a used car loan rate on its website, so none is shown.
| Detail | Canara Bank | HDFC Bank | Tata Capital |
|---|---|---|---|
| Product | Canara Vehicle (pre-owned 4-wheeler) | HDFC Bank Pre-Owned Car Loan | Used Car Loan |
| Published rate | Not published | 9.50% - 17.00%rates given to customers, Apr-Jun 2026; average 13.51%; rack rate from 11.25% | From 10.49% p.a. |
| Rate basis | RLLR-linked (no separate pre-owned rate published) | Not published | Reducing balance; fixed EMI |
| Maximum tenure | 60 months | Not published | 72 months |
| Maximum funding | 50% (minimum margin 50%); max ₹50 lakh | Not published | Up to 95% of car value (100% on select cars); loan up to Rs 50 lakh |
| Processing fee | 0.25% (min ₹1,000, max ₹5,000) + GST | Up to 1% of loan (min Rs 3,500, max Rs 9,000) | Up to 2.95% of loan amount |
| Pre-closure / prepayment | No pre-payment penalty | Full pre-closure: 6% within 1 year, 5% in months 13-24, 3% after 24 months | 6% of principal outstanding within 12 months; 5% after 12 months (same for part-prepayment) |
| Other terms published |
| Not published |
|
| Official source | canarabank.bank.in | hdfc.bank.in | tatacapital.com tatacapital.com |
EMI illustration: ₹5 lakh over 48 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| HDFC Bank | 9.50% | ₹12,562 | ₹1,02,955 | ₹6,02,955 |
| 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 | HDFC Bank (9.50%) | Tata Capital (10.49%) |
|---|---|---|
| ₹3 lakh | ₹7,537 | ₹7,680 |
| ₹5 lakh | ₹12,562 | ₹12,799 |
| ₹8 lakh | ₹20,099 | ₹20,479 |
Read the full guide: Used car loan · EMI calculator
Canara Bank vs HDFC Bank vs Tata Capital electric car loan: rate, fees and tenure
Only Canara Bank publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. HDFC Bank and Tata Capital do not publish an electric car loan rate on their website, so none is shown.
| Detail | Canara Bank | HDFC Bank | Tata Capital |
|---|---|---|---|
| Product | Canara Green Wheels | Not published | Not published |
| Published rate | 7.45% - 10.70% | Not published | Not published |
| Rate basis | RLLR-linked (RLLR 8.00%); rate by credit risk grade | Not published | Not published |
| Maximum tenure | 84 EMIs | Not published | Not published |
| Maximum funding | Margin 15% up to ₹25 lakh; 25% above ₹25 lakh | Not published | Not published |
| Processing fee | 0.25% (min ₹1,000, max ₹5,000) + GST | Not published | Not published |
| Pre-closure / prepayment | No prepayment penalty | Not published | Not published |
| Other terms published |
| Not published | Not published |
| Official source | canarabank.bank.in canarabank.bank.in | Not published | Not published |
Read the full guide: Electric car loan
Canara Bank vs HDFC Bank 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. Canara Bank lists the longer maximum tenure (84 emis (new fuel); 60 emis (new electric); 36 emis (used)). Canara Bank and HDFC Bank do not publish a commercial vehicle loan rate on their website, so none is shown.
| Detail | Canara Bank | HDFC Bank | Tata Capital |
|---|---|---|---|
| Product | Canara MSME Vahan | HDFC Bank Commercial Vehicle Loan | Commercial Vehicle Loan (new and used) |
| Published rate | Not published | Not published | From 12% p.a.page meta description |
| Maximum tenure | 84 EMIs (new fuel); 60 EMIs (new electric); 36 EMIs (used) | Not published | IMHCV up to 72 months; SLCV and buses up to 60 months |
| Maximum funding | 75% of on-road cost (new, max ₹50 lakh); 50% (used, max ₹25 lakh) | Loan up to Rs 3 crore | 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 |
|
|
|
| Official source | canarabank.bank.in | hdfc.bank.in | tatacapital.com tatacapital.com |
Read the full guide: Commercial vehicle loan
Which is better: Canara Bank, HDFC Bank or Tata Capital?
No loan provider is best for everyone. This is how the published figures split, product by product.
- Car loan, lower starting rate: Canara Bank (7.50%) versus 7.60% at HDFC Bank and 9.49% at Tata Capital.
- Two-wheeler loan, lower starting rate: HDFC Bank (9.99%) versus 10.10% at Canara Bank and 12.50% at Tata Capital.
- Used car loan, longer maximum tenure: Tata Capital (72 months). A longer tenure lowers the EMI but raises total interest.
- Commercial vehicle loan, longer maximum tenure: Canara Bank (84 emis (new fuel); 60 emis (new electric); 36 emis (used)). 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
Canara Bank is a public sector bank, HDFC Bank is a private bank and Tata Capital is a nbfc.
What the loan providers' own pages say about how their rates are set:
- Canara Bank car loan: RLLR-linked (RLLR 8.00% w.e.f. 12.03.2026); rate by credit risk grade.
- Canara Bank two-wheeler loan: RLLR-linked (RLLR 8.00%); rate by credit risk grade.
- Canara Bank used car loan: RLLR-linked (no separate pre-owned rate published).
- Canara Bank electric car loan: RLLR-linked (RLLR 8.00%); rate by credit risk grade.
- HDFC Bank two-wheeler loan: Fixed (floating not offered).
- 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 Canara Bank, HDFC Bank and Tata Capital
Canara Bank
Public sector bank
PSU loan provider pricing car loans off its repo-linked RLLR with credit-grade tiers, lower rates above ₹15 lakh and for women, and a separate green rate card for electric cars.
Lowest published starting rate: 7.45% (Electric car loan)
HDFC Bank
Private bank
Large private-sector car financier offering new and pre-owned car, two-wheeler, MSME commercial vehicle and tractor loans with up to 100% funding on select profiles.
Lowest published starting rate: 7.60% (Car 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.
- Canara Bank: canarabank.bank.in/pages/rates-of-interest-for-retail-lending-schemes-linked-to-rllr · canarabank.bank.in/Canara-Vehicle · canarabank.bank.in/canara-green-wheels · canarabank.bank.in/pages/farm-machinery-loans · canarabank.bank.in/pages/canara-msme-vahan
- HDFC Bank: hdfc.bank.in/car-loan/interest-rates-and-charges · hdfc.bank.in/two-wheeler-loan/interest-rates-and-charges · hdfc.bank.in/pre-owned-car-loan/interest-rates-and-charges · hdfc.bank.in/agri-banking/rural-loans/tractor-loan · hdfc.bank.in/msme-banking/msme-vehicle-loan/commercial-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
Canara Bank compared with other loan providers
HDFC Bank compared with other loan providers
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 car loan: Canara Bank, HDFC Bank or Tata Capital?
For a car loan, Canara Bank advertises the lowest starting rate here (7.50%), versus 7.60% at HDFC Bank and 9.49% at Tata Capital. 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: Canara Bank, HDFC Bank or Tata Capital?
Canara Bank has the lower published starting rate. Published starting rates: Canara Bank 7.50%, HDFC Bank 7.60% and Tata Capital 9.49% (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 Canara Bank, HDFC Bank and Tata Capital?
Canara Bank: 0.25% (min ₹1,000, max ₹5,000) + GST; 100% waiver 01.10.2026-31.12.2026 (Retail Loan Festival). HDFC Bank: Up to 0.5% of loan (min Rs 3,500, max Rs 8,000). Tata Capital: Up to 2.95% of loan amount. Fees can change and GST is usually extra, so check the Key Fact Statement.
What is the maximum car loan tenure at Canara Bank, HDFC Bank and Tata Capital?
Canara Bank: 84 months. HDFC Bank: up to 7 years. Tata Capital: 84 months (product page); rates page calculator shows 72 months.
What is the EMI on a ₹10 lakh car loan at Canara Bank, HDFC Bank and Tata Capital?
Over 60 months at each loan provider's lowest published rate: Canara Bank about ₹20,038 a month at 7.50%; HDFC Bank about ₹20,086 a month at 7.60%; Tata Capital about ₹20,997 a month at 9.49%. 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 Canara Bank, HDFC Bank and Tata Capital?
Canara Bank: Up to 90% (margin 10% up to ₹10 lakh; 10-15% ₹10-25 lakh; 20% above ₹25 lakh). HDFC Bank: Up to 100% (profile-based). Tata Capital: Up to 100% on-road; loan up to Rs 5 crore. Funding is usually profile-based, so the loan provider decides the final amount.
What other terms do Canara Bank, HDFC Bank and Tata Capital publish for a car loan?
Canara Bank: No upper loan limit; Loans above ₹15 lakh priced 0.40-0.60% lower; Women borrowers get 0.05% lower rate. Tata Capital: Documentation charge up to Rs 1,999. Check each loan provider's page for eligibility and documents before you apply.
Can I prepay or foreclose a car loan early at Canara Bank, HDFC Bank and Tata Capital?
Canara Bank: No pre-payment penalty. HDFC Bank: Full pre-closure: 6% of principal within 1 year, 5% in months 13-24, 3% after 24 months (loans from 1 Dec 2025). Tata Capital: 6% of principal outstanding within 12 months; 5% after 12 months (same for part-prepayment). Floating-rate loans to individuals cannot carry pre-closure charges; fixed-rate loans often do.
Which vehicle loans do Canara Bank, HDFC Bank and Tata Capital publish rates for?
Canara Bank: car loan, two-wheeler loan, electric car loan. HDFC Bank: car loan, two-wheeler loan, used car 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.