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Chola vs IDFC FIRST Bank vs Tata Capital: Vehicle Loan Comparison

By KhatuLoans Editorial Team, edited by Hemant Kumar · Figures checked · Information only, not a loan provider

IDFC FIRST Bank has the lowest published starting car loan rate at 8.99%, against 9% at Chola and 9.49% at Tata Capital. 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.

Chola vs IDFC FIRST Bank vs Tata Capital at a glance

DetailCholaIDFC FIRST BankTata Capital
Loan provider typeNBFCPrivate bankNBFC
Legal nameCholamandalam Investment and Finance Company Ltd (Chola)IDFC FIRST BankTata Capital Ltd
Vehicle loans with a published rateCar loan, Two-wheeler loan, Used car loan, Three-wheeler loan, Tractor loanCar loan, Two-wheeler loan, Used car loan, Tractor loanCar loan, Two-wheeler loan, Used car loan, Commercial vehicle loan
Car loan: published rate9% - 20% p.a.car; MUV 9% - 20%From 8.99%From 9.49% p.a.
Car loan: maximum tenureNot published10 years (120 months)84 months (product page); rates page calculator shows 72 months
Two-wheeler loan: published rate15% - 28% p.a.From 9%premium; from 10% commuter, mid-premium, EVFrom 12.5% p.a.
Two-wheeler loan: maximum tenureNot published60 months60 months
Used car loan: published rate15% - 28% p.a.MUV 14% - 28%From 11.99%repurchase; from 13.99% refinanceFrom 10.49% p.a.
Used car loan: maximum tenure5 years7 years (repurchase)72 months
Official websitecholamandalam.comidfcfirst.bank.intatacapital.com

Chola vs IDFC FIRST Bank vs Tata Capital car loan: rate, fees and tenure

Starting car loan rates as published: Chola from 9%, IDFC FIRST Bank from 8.99% and Tata Capital from 9.49%. 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 (10 years (120 months)).

DetailCholaIDFC FIRST BankTata Capital
ProductNew Car LoanNew Car LoanNew Car Loan
Published rate9% - 20% p.a.car; MUV 9% - 20%From 8.99%From 9.49% p.a.
Rate basisFixedFixed or floating (fees page references fixed-rate bookings and a rate-switch fee)Fixed and floating options
Maximum tenureNot published10 years (120 months)84 months (product page); rates page calculator shows 72 months
Maximum fundingUp to 100% on-roadUp to 100% of on-road priceUp to 100% on-road; loan up to Rs 5 crore
Processing fee0.5% - 2.5% + sourcing fee Rs 1,000 - 2,500Up to 5% of loan amount (incl. GST)Up to 2.95% of loan amount
Pre-closure / prepaymentFull closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST5% of principal outstanding + GST if booked on fixed rate; part-payment 5% + GST6% of principal outstanding within 12 months; 5% after 12 months (same for part-prepayment)
Other terms published
  • In-principle sanction at customer's place
  • Low down payment
  • Longest tenure among peers at 10 years
  • Online car marketplace
  • Documentation charge up to Rs 1,999
Official sourcecholamandalam.com
files.cholamandalam.com
idfcfirst.bank.in
idfcfirst.bank.in
tatacapital.com
tatacapital.com

EMI illustration: ₹10 lakh over 60 months

Loan providerRate usedMonthly EMITotal interestTotal repayable
Chola9%₹20,758₹2,45,501₹12,45,501
IDFC FIRST Bank8.99%₹20,754₹2,45,210₹12,45,210
Tata Capital9.49%₹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 amountChola (9%)IDFC FIRST Bank (8.99%)Tata Capital (9.49%)
₹5 lakh₹10,379₹10,377₹10,498
₹10 lakh₹20,758₹20,754₹20,997
₹15 lakh₹31,138₹31,130₹31,495
₹20 lakh₹41,517₹41,507₹41,994

Read the full guide: Car loan · EMI calculator

Chola vs IDFC FIRST Bank vs Tata Capital two-wheeler loan: rate, fees and tenure

Starting two-wheeler loan rates as published: Chola from 15%, IDFC FIRST Bank from 9% and Tata Capital from 12.50%. 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.

DetailCholaIDFC FIRST BankTata Capital
ProductTwo Wheeler Loan (new only)Two-Wheeler LoanTwo-Wheeler Loan
Published rate15% - 28% p.a.From 9%premium; from 10% commuter, mid-premium, EVFrom 12.5% p.a.
Rate basisFixedNot publishedFixed
Maximum tenureNot published60 months60 months
Maximum fundingUp to 100% of bike valueUp to 95% of on-road priceUp to 100% for loans up to Rs 2.85 lakh; up to Rs 15 lakh for premium/superbikes
Processing fee0.75% - 5% + sourcing fee Rs 500 - 2,500Up to 5% (product page advertises zero processing fees)Up to 4% + taxes
Pre-closure / prepaymentFull closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST5% of principal outstanding; part-payment 5%Foreclosure 5% of principal outstanding; part-prepayment 5% of amount
Other terms published
  • No funding of used two-wheelers
  • Rural and semi-urban focus
  • Down payment from 5%
  • Electric two-wheelers covered
  • Bounce charge Rs 600
  • Penal charge 3% per month on overdue amount
Official sourcecholamandalam.com
files.cholamandalam.com
idfcfirst.bank.in
idfcfirst.bank.in
tatacapital.com

EMI illustration: ₹1 lakh over 36 months

Loan providerRate usedMonthly EMITotal interestTotal repayable
Chola15%₹3,467₹24,795₹1,24,795
IDFC FIRST Bank9%₹3,180₹14,479₹1,14,479
Tata Capital12.50%₹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 amountChola (15%)IDFC FIRST Bank (9%)Tata Capital (12.50%)
₹0.5 lakh₹1,733₹1,590₹1,673
₹1 lakh₹3,467₹3,180₹3,345
₹1.5 lakh₹5,200₹4,770₹5,018

Read the full guide: Two-wheeler loan · EMI calculator

Chola vs IDFC FIRST Bank vs Tata Capital used car loan: rate, fees and tenure

Starting used car loan rates as published: Chola from 15%, IDFC FIRST Bank from 11.99% 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. IDFC FIRST Bank lists the longer maximum tenure (7 years (repurchase)).

DetailCholaIDFC FIRST BankTata Capital
ProductUsed Car LoanPre-owned Car LoanUsed Car Loan
Published rate15% - 28% p.a.MUV 14% - 28%From 11.99%repurchase; from 13.99% refinanceFrom 10.49% p.a.
Rate basisFixedNot publishedReducing balance; fixed EMI
Maximum tenure5 years7 years (repurchase)72 months
Maximum fundingUp to 100%*Up to 200% LTV of market value (Car N Cash refinance)Up to 95% of car value (100% on select cars); loan up to Rs 50 lakh
Processing fee0.5% - 3.25% + sourcing fee Rs 1,000 - 2,500Up to 5% of loan amount (incl. GST)Up to 2.95% of loan amount
Pre-closure / prepaymentFull closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST5% of principal outstanding + GST; part-payment 5% + GST6% of principal outstanding within 12 months; 5% after 12 months (same for part-prepayment)
Other terms published
  • Instant approval
  • Instant sanction up to ₹15 lakh
  • Car up to 10 years old at loan maturity
  • Valuation fee Rs 750
  • An older Tata Capital page states rates from 15%, 1.75% fee and 7%/6%/5% foreclosure; the rates-and-charges page is used here
Official sourcecholamandalam.com
files.cholamandalam.com
idfcfirst.bank.in
idfcfirst.bank.in
tatacapital.com
tatacapital.com

EMI illustration: ₹5 lakh over 48 months

Loan providerRate usedMonthly EMITotal interestTotal repayable
Chola15%₹13,915₹1,67,938₹6,67,938
IDFC FIRST Bank11.99%₹13,164₹1,31,894₹6,31,894
Tata Capital10.49%₹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 amountChola (15%)IDFC FIRST Bank (11.99%)Tata Capital (10.49%)
₹3 lakh₹8,349₹7,899₹7,680
₹5 lakh₹13,915₹13,164₹12,799
₹8 lakh₹22,265₹21,063₹20,479

Read the full guide: Used car loan · EMI calculator

Chola vs IDFC FIRST Bank vs Tata Capital 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. IDFC FIRST Bank and Tata Capital do not publish a three-wheeler loan rate on their website, so none is shown.

DetailCholaIDFC FIRST BankTata Capital
ProductThree Wheeler LoansNot publishedNot published
Published rateNew non-EV 21% - 28%; used non-EV 25% - 28% p.a.Not publishedNot published
Rate basisFixedNot publishedNot published
Processing feeNew 1.5% - 3.5%; used 1% - 2.5% + sourcing feeNot publishedNot published
Pre-closure / prepaymentFull closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GSTNot publishedNot published
Other terms published
  • Rural and semi-urban focus
Not publishedNot published
Official sourcecholamandalam.com
files.cholamandalam.com
Not publishedNot published

Read the full guide: Three-wheeler loan

Chola vs IDFC FIRST Bank vs Tata Capital tractor loan: rate, fees and tenure

Starting tractor loan rates as published: Chola from 12% and IDFC FIRST Bank from 12%. Tata Capital does not publish a tractor loan rate on its website, so none is shown.

DetailCholaIDFC FIRST BankTata Capital
ProductTractor & Farm Equipment LoansTractor LoanNot published
Published rateNew 12% - 28%; used 17% - 28% p.a.12% - 16%new; 16% - 20% usedNot published
Rate basisFixedNot publishedNot published
Maximum tenureNot published72 months (new); 60 months (used)Not published
Maximum fundingNot published₹1-15 lakh (new); ₹1-5.5 lakh (used)Not published
Processing feeNew 0.25% - 2%; used 0.75% - 3.25% + sourcing fee1% of sanctioned amountNot published
Pre-closure / prepaymentFull closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST2% of principal outstanding + GSTNot published
Other terms published
  • New, used and refinance
  • Harvesters, trolleys, rotavators, power tillers
  • Repayment based on crop patterns
Not publishedNot published
Official sourcecholamandalam.com
files.cholamandalam.com
idfcfirst.bank.inNot published

EMI illustration: ₹8 lakh over 60 months

Loan providerRate usedMonthly EMITotal interestTotal repayable
Chola12%₹17,796₹2,67,733₹10,67,733
IDFC FIRST Bank12%₹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 amountChola (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

Chola vs IDFC FIRST 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. Chola lists the longer maximum tenure (84 months (new)). Chola and IDFC FIRST Bank do not publish a commercial vehicle loan rate on their website, so none is shown.

DetailCholaIDFC FIRST BankTata Capital
ProductCommercial Vehicle Loan (new and used)Commercial Vehicle LoanCommercial Vehicle Loan (new and used)
Published rateNew: HCV/LCV 9% - 18%, MLCV 11% - 20%; Used: HCV 12% - 28%, LCV 14% - 28%, MLCV 15% - 28% p.a.Not publishedFrom 12% p.a.page meta description
Rate basisFixedFixedNot published
Maximum tenure84 months (new)60 monthsIMHCV up to 72 months; SLCV and buses up to 60 months
Maximum fundingUp to 100% (new)Up to 95% of on-road priceIMHCV up to 100% of ex-showroom; SLCV up to 94% of on-road; buses up to 100% of on-road
Processing feeNew 0.25% - 2%; used 0.25% - 3.25% (by segment) + sourcing feeNot publishedAs per sanction letter
Pre-closure / prepaymentFull closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GSTNot published4% of outstanding or Rs 5,000, whichever higher (excl. GST), with 30 days notice
Other terms published
  • LCV, ILCV, MHCV, HCV
  • Construction equipment loans also offered (new 9% - 18%, used 12% - 28%)
  • New, pre-owned, refinance, electric CV and construction equipment variants
  • Trucks, buses, tippers, pickups, special-application vehicles
  • Body funding available
  • Used CV refinance, top-up and balance transfer
Official sourcecholamandalam.com
files.cholamandalam.com
idfcfirst.bank.intatacapital.com
tatacapital.com

Read the full guide: Commercial vehicle loan

Which is better: Chola, IDFC FIRST 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: IDFC FIRST Bank (8.99%) versus 9% at Chola and 9.49% at Tata Capital.
  • Two-wheeler loan, lower starting rate: IDFC FIRST Bank (9%) versus 15% at Chola and 12.50% at Tata Capital.
  • Used car loan, lower starting rate: Tata Capital (10.49%) versus 15% at Chola and 11.99% at IDFC FIRST Bank.
  • Car loan, longer maximum tenure: IDFC FIRST Bank (10 years (120 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.
  • Commercial vehicle loan, longer maximum tenure: Chola (84 months (new)). 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

Chola and Tata Capital are nbfcs and IDFC FIRST Bank is a private bank.

What the loan providers' own pages say about how their rates are set:

  • 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.
  • IDFC FIRST Bank car loan: Fixed or floating (fees page references fixed-rate bookings and a rate-switch fee).

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 Chola, IDFC FIRST Bank and Tata Capital

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)

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

  1. 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.
  2. Compare APR, not the headline rate. Processing fee, documentation charges and insurance change the real cost.
  3. Ask about pre-closure charges. Fixed-rate vehicle loans often carry charges for paying early; floating-rate loans to individuals cannot.
  4. 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.
  5. 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.

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

Chola compared with other loan providers

IDFC FIRST Bank compared with other loan providers

Tata Capital compared with other loan providers

Head-to-head pages for these three loan providers

Swap one loan provider

Compare any two or three loan providers · Personal loans · Home loans · Vehicle loans

Frequently asked questions

Which is better for a car loan: Chola, IDFC FIRST Bank or Tata Capital?

IDFC FIRST Bank has the lowest published starting car loan rate at 8.99%, against 9% at Chola and 9.49% at Tata Capital. 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: Chola, IDFC FIRST Bank or Tata Capital?

IDFC FIRST Bank has the lower published starting rate. Published starting rates: Chola 9%, IDFC FIRST Bank 8.99% 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 Chola, IDFC FIRST Bank and Tata Capital?

Chola: 0.5% - 2.5% + sourcing fee Rs 1,000 - 2,500. IDFC FIRST Bank: Up to 5% of loan amount (incl. GST). 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 Chola, IDFC FIRST Bank and Tata Capital?

Chola: not published. IDFC FIRST Bank: 10 years (120 months). Tata Capital: 84 months (product page); rates page calculator shows 72 months.

What is the EMI on a ₹10 lakh car loan at Chola, IDFC FIRST Bank and Tata Capital?

Over 60 months at each loan provider's lowest published rate: Chola about ₹20,758 a month at 9%; IDFC FIRST Bank about ₹20,754 a month at 8.99%; 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 Chola, IDFC FIRST Bank and Tata Capital?

Chola: Up to 100% on-road. IDFC FIRST Bank: Up to 100% of on-road price. 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 Chola, IDFC FIRST Bank and Tata Capital 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. 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 Chola, IDFC FIRST Bank and Tata Capital?

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. 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 Chola, IDFC FIRST Bank and Tata Capital publish rates for?

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. 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.