Chola vs Kotak Mahindra Bank vs Tata Capital at a glance
| Detail | Chola | Kotak Mahindra Bank | Tata Capital |
|---|---|---|---|
| Loan provider type | NBFC | Private bank | NBFC |
| Legal name | Cholamandalam Investment and Finance Company Ltd (Chola) | Kotak Mahindra Bank | Tata Capital Ltd |
| Vehicle loans with a published rate | Car loan, Two-wheeler loan, Used car loan, Three-wheeler loan, Tractor loan | Not published | Car loan, Two-wheeler loan, Used car loan, Commercial vehicle loan |
| Official website | cholamandalam.com | kotak.bank.in | tatacapital.com |
Chola vs Kotak Mahindra Bank vs Tata Capital car loan: rate, fees and tenure
Starting car loan rates as published: Chola from 9% and Tata Capital from 9.49%. Chola is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered. Kotak Mahindra Bank does not publish a car loan rate on its website, so none is shown.
| Detail | Chola | Kotak Mahindra Bank | Tata Capital |
|---|---|---|---|
| Product | New Car Loan | Kotak Car Loan (via Kotak Mahindra Prime Ltd) | New Car Loan |
| Published rate | 9% - 20% p.a.car; MUV 9% - 20% | Not published | From 9.49% p.a. |
| Rate basis | Fixed | Not published | Fixed and floating options |
| Maximum tenure | Not published | 12 - 84 months | 84 months (product page); rates page calculator shows 72 months |
| Maximum funding | Up to 100% on-road | Up to 100% of car value; min loan Rs 1 lakh | Up to 100% on-road; loan up to Rs 5 crore |
| Processing fee | 0.5% - 2.5% + sourcing fee Rs 1,000 - 2,500 | Not published | Up to 2.95% of loan amount |
| Pre-closure / prepayment | Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST | Prepayment allowed after 6 months, fee on outstanding as per agreement | 6% of principal outstanding within 12 months; 5% after 12 months (same for part-prepayment) |
| Other terms published |
|
|
|
| Official source | cholamandalam.com files.cholamandalam.com | kotak.bank.in kotak.bank.in | tatacapital.com tatacapital.com |
EMI illustration: ₹10 lakh over 60 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Chola | 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 | Chola (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
Chola vs Kotak Mahindra Bank vs Tata Capital two-wheeler loan: rate, fees and tenure
Starting two-wheeler loan rates as published: Chola from 15% 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. Tata Capital lists the longer maximum tenure (60 months). Kotak Mahindra Bank does not publish a two-wheeler loan rate on its website, so none is shown.
| Detail | Chola | Kotak Mahindra Bank | Tata Capital |
|---|---|---|---|
| Product | Two Wheeler Loan (new only) | Kotak Two-Wheeler Loan (via Kotak Mahindra Prime Ltd) | Two-Wheeler Loan |
| Published rate | 15% - 28% p.a. | Not published | From 12.5% p.a. |
| Rate basis | Fixed | Not published | Fixed |
| Maximum tenure | Not published | 12 - 36 months | 60 months |
| Maximum funding | Up to 100% of bike value | Up to 95% of on-road price | Up to 100% for loans up to Rs 2.85 lakh; up to Rs 15 lakh for premium/superbikes |
| Processing fee | 0.75% - 5% + sourcing fee Rs 500 - 2,500 | Not published | Up to 4% + taxes |
| Pre-closure / prepayment | Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST | Not published | Foreclosure 5% of principal outstanding; part-prepayment 5% of amount |
| Other terms published |
|
|
|
| Official source | cholamandalam.com files.cholamandalam.com | kotak.bank.in | tatacapital.com |
EMI illustration: ₹1 lakh over 36 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Chola | 15% | ₹3,467 | ₹24,795 | ₹1,24,795 |
| 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 | Chola (15%) | Tata Capital (12.50%) |
|---|---|---|
| ₹0.5 lakh | ₹1,733 | ₹1,673 |
| ₹1 lakh | ₹3,467 | ₹3,345 |
| ₹1.5 lakh | ₹5,200 | ₹5,018 |
Read the full guide: Two-wheeler loan · EMI calculator
Chola vs Kotak Mahindra Bank vs Tata Capital used car loan: rate, fees and tenure
Starting used car loan rates as published: Chola from 15% 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). Kotak Mahindra Bank does not publish a used car loan rate on its website, so none is shown.
| Detail | Chola | Kotak Mahindra Bank | Tata Capital |
|---|---|---|---|
| Product | Used Car Loan | Not published | Used Car Loan |
| Published rate | 15% - 28% p.a.MUV 14% - 28% | Not published | From 10.49% p.a. |
| Rate basis | Fixed | Not published | Reducing balance; fixed EMI |
| Maximum tenure | 5 years | Not published | 72 months |
| Maximum funding | Up to 100%* | Not published | Up to 95% of car value (100% on select cars); loan up to Rs 50 lakh |
| Processing fee | 0.5% - 3.25% + sourcing fee Rs 1,000 - 2,500 | Not published | Up to 2.95% of loan amount |
| Pre-closure / prepayment | Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST | Not published | 6% of principal outstanding within 12 months; 5% after 12 months (same for part-prepayment) |
| Other terms published |
| Not published |
|
| Official source | cholamandalam.com files.cholamandalam.com | Not published | tatacapital.com tatacapital.com |
EMI illustration: ₹5 lakh over 48 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Chola | 15% | ₹13,915 | ₹1,67,938 | ₹6,67,938 |
| 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 | Chola (15%) | Tata Capital (10.49%) |
|---|---|---|
| ₹3 lakh | ₹8,349 | ₹7,680 |
| ₹5 lakh | ₹13,915 | ₹12,799 |
| ₹8 lakh | ₹22,265 | ₹20,479 |
Read the full guide: Used car loan · EMI calculator
Chola vs Kotak Mahindra 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. Kotak Mahindra Bank and Tata Capital do not publish a three-wheeler loan rate on their website, so none is shown.
| Detail | Chola | Kotak Mahindra Bank | Tata Capital |
|---|---|---|---|
| Product | Three Wheeler Loans | Not published | Not published |
| Published rate | New non-EV 21% - 28%; used non-EV 25% - 28% p.a. | Not published | Not published |
| Rate basis | Fixed | Not published | Not published |
| Processing fee | New 1.5% - 3.5%; used 1% - 2.5% + sourcing fee | Not published | Not published |
| Pre-closure / prepayment | Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST | Not published | Not published |
| Other terms published |
| Not published | Not published |
| Official source | cholamandalam.com files.cholamandalam.com | Not published | Not published |
Read the full guide: Three-wheeler loan
Chola vs Kotak Mahindra Bank vs Tata Capital tractor 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. Kotak Mahindra Bank and Tata Capital do not publish a tractor loan rate on their website, so none is shown.
| Detail | Chola | Kotak Mahindra Bank | Tata Capital |
|---|---|---|---|
| Product | Tractor & Farm Equipment Loans | Kotak Farm Equipment (Tractor) Loan | Not published |
| Published rate | New 12% - 28%; used 17% - 28% p.a. | MCLR/Reference Rate to 30% | Not published |
| Rate basis | Fixed | MCLR / reference rate | Not published |
| Maximum funding | Not published | Up to 90% of tractor value | Not published |
| Processing fee | New 0.25% - 2%; used 0.75% - 3.25% + sourcing fee | Up to 3% of loan amount | Not published |
| Pre-closure / prepayment | Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST | Individuals (fixed rate): 4% foreclosure / 2% part-prepayment | Not published |
| Other terms published |
|
| Not published |
| Official source | cholamandalam.com files.cholamandalam.com | kotak.bank.in kotak.bank.in | Not published |
Read the full guide: Tractor loan
Chola vs Kotak Mahindra 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 Kotak Mahindra Bank do not publish a commercial vehicle loan rate on their website, so none is shown.
| Detail | Chola | Kotak Mahindra Bank | Tata Capital |
|---|---|---|---|
| Product | Commercial Vehicle Loan (new and used) | Kotak Commercial Vehicle Loan | Commercial Vehicle Loan (new and used) |
| Published rate | New: HCV/LCV 9% - 18%, MLCV 11% - 20%; Used: HCV 12% - 28%, LCV 14% - 28%, MLCV 15% - 28% p.a. | Not published | From 12% p.a.page meta description |
| Rate basis | Fixed | Not published | Not published |
| Maximum tenure | 84 months (new) | 12 - 60 months | IMHCV up to 72 months; SLCV and buses up to 60 months |
| Maximum funding | Up to 100% (new) | 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 | New 0.25% - 2%; used 0.25% - 3.25% (by segment) + sourcing fee | Not published | As per sanction letter |
| Pre-closure / prepayment | Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST | Not published | 4% of outstanding or Rs 5,000, whichever higher (excl. GST), with 30 days notice |
| Other terms published |
| Not published |
|
| Official source | cholamandalam.com files.cholamandalam.com | kotak.bank.in | tatacapital.com tatacapital.com |
Read the full guide: Commercial vehicle loan
Which is better: Chola, Kotak Mahindra Bank or Tata Capital?
No loan provider is best for everyone. This is how the published figures split, product by product.
- Two-wheeler loan, longer maximum tenure: Tata Capital (60 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.
- 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 Kotak Mahindra 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.
- Kotak Mahindra Bank tractor loan: MCLR / reference 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 Chola, Kotak Mahindra 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)
Kotak Mahindra Bank
Private bank
Private bank whose car and two-wheeler loans are originated through its NBFC subsidiary Kotak Mahindra Prime, with commercial vehicle and farm equipment loans offered by the bank.
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.
- Chola: cholamandalam.com/get-new-car-loans · files.cholamandalam.com/files/Interest+Rate+Policy+-+Mar2026.pdf · cholamandalam.com/get-two-wheeler-loans · cholamandalam.com/get-used-car-loans · cholamandalam.com/get-three-wheeler-loans · cholamandalam.com/get-tractor-loans
- Kotak Mahindra Bank: kotak.bank.in/en/personal-banking/loans/car-loan/features.html · kotak.bank.in/en/personal-banking/loans/car-loan/fees-and-charges.html · kotak.bank.in/en/personal-banking/loans/two-wheeler-loan/features.html · kotak.bank.in/en/business/loans/farm-equipment/features.html · kotak.bank.in/en/business/loans/farm-equipment/fees-and-charges.html · kotak.bank.in/en/business/loans/commercial-vehicle-loan/features.html
- 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.
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Frequently asked questions
Which is better for a vehicle loan: Chola, Kotak Mahindra Bank 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 Chola, Kotak Mahindra Bank and Tata Capital publish rates for?
Chola: car loan, two-wheeler loan, used car loan, three-wheeler loan, tractor loan. Kotak Mahindra Bank: no published rate found. 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.