Federal Bank vs IDFC FIRST Bank vs Punjab National Bank at a glance
| Detail | Federal Bank | IDFC FIRST Bank | Punjab National Bank |
|---|---|---|---|
| Loan provider type | Private bank | Private bank | Public sector bank |
| Legal name | Federal Bank | IDFC FIRST Bank | Punjab National Bank |
| Vehicle loans with a published rate | Car loan, Two-wheeler loan, Used car loan, Commercial vehicle loan | Car loan, Two-wheeler loan, Used car loan, Tractor loan | Car loan, Two-wheeler loan, Used car loan, Electric car loan |
| Car loan: published rate | 7.90% - 9.00% | From 8.99% | From 7.60%up to 9.70% floating, CIBIL-based |
| Car loan: maximum tenure | 84 months | 10 years (120 months) | 84 months |
| Two-wheeler loan: published rate | 12.60% - 16.00% | From 9%premium; from 10% commuter, mid-premium, EV | From 10.00%Power Ride; 10.85% salaried; 11.35% others |
| Two-wheeler loan: maximum tenure | 60 months | 60 months | 60 EMIs (scooters/motorcycles) |
| Used car loan: published rate | 10.15% - 14.00% | From 11.99%repurchase; from 13.99% refinance | From 9.45% floating / 10.45% fixed |
| Used car loan: maximum tenure | 60 months | 7 years (repurchase) | 60 months |
| Official website | federal.bank.in | idfcfirst.bank.in | pnb.bank.in |
Federal Bank vs IDFC FIRST Bank vs Punjab National Bank car loan: rate, fees and tenure
Starting car loan rates as published: Federal Bank from 7.90%, IDFC FIRST Bank from 8.99% and Punjab National Bank from 7.60%. Punjab National 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)).
| Detail | Federal Bank | IDFC FIRST Bank | Punjab National Bank |
|---|---|---|---|
| Product | Federal Personal Car Loan (new) | New Car Loan | PNB Car Loan |
| Published rate | 7.90% - 9.00% | From 8.99% | From 7.60%up to 9.70% floating, CIBIL-based |
| Rate basis | Fixed (product page also lists 10.15% floating, repo-linked) | Fixed or floating (fees page references fixed-rate bookings and a rate-switch fee) | RLLR-linked (floating); fixed option available |
| Maximum tenure | 84 months | 10 years (120 months) | 84 months |
| Maximum funding | Up to 95% of on-road price | Up to 100% of on-road price | 85% of on-road price (90% with manufacturer tie-ups); individuals up to Rs 100 lakh |
| Processing fee | 1% of loan (min ₹1,000, max ₹50,000) | Up to 5% of loan amount (incl. GST) | 0.25% of loan (min Rs 1,000, max Rs 1,500); nil documentation |
| Pre-closure / prepayment | Nil | 5% of principal outstanding + GST if booked on fixed rate; part-payment 5% + GST | Floating: nil; fixed: 2% on amount prepaid (exceptions apply) |
| Other terms published |
|
|
|
| Official source | federal.bank.in federal.bank.in federal.bank.in | idfcfirst.bank.in idfcfirst.bank.in | pnb.bank.in pnb.bank.in pnb.bank.in |
EMI illustration: ₹10 lakh over 60 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Federal Bank | 7.90% | ₹20,229 | ₹2,13,714 | ₹12,13,714 |
| IDFC FIRST Bank | 8.99% | ₹20,754 | ₹2,45,210 | ₹12,45,210 |
| Punjab National Bank | 7.60% | ₹20,086 | ₹2,05,130 | ₹12,05,130 |
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 | Federal Bank (7.90%) | IDFC FIRST Bank (8.99%) | Punjab National Bank (7.60%) |
|---|---|---|---|
| ₹5 lakh | ₹10,114 | ₹10,377 | ₹10,043 |
| ₹10 lakh | ₹20,229 | ₹20,754 | ₹20,086 |
| ₹15 lakh | ₹30,343 | ₹31,130 | ₹30,128 |
| ₹20 lakh | ₹40,457 | ₹41,507 | ₹40,171 |
Read the full guide: Car loan · EMI calculator
Federal Bank vs IDFC FIRST Bank vs Punjab National Bank two-wheeler loan: rate, fees and tenure
Starting two-wheeler loan rates as published: Federal Bank from 12.60%, IDFC FIRST Bank from 9% and Punjab National Bank from 10%. 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.
| Detail | Federal Bank | IDFC FIRST Bank | Punjab National Bank |
|---|---|---|---|
| Product | Federal Personal Car Loan (new two-wheeler) | Two-Wheeler Loan | PNB Saarthi / PNB Power Ride (women) |
| Published rate | 12.60% - 16.00% | From 9%premium; from 10% commuter, mid-premium, EV | From 10.00%Power Ride; 10.85% salaried; 11.35% others |
| Rate basis | Fixed | Not published | RLLR-linked |
| Maximum tenure | 60 months | 60 months | 60 EMIs (scooters/motorcycles) |
| Maximum funding | Not published | Up to 95% of on-road price | 90% (salaried, salary via PNB) or 75% of cost; max Rs 1.5 lakh (Rs 10 lakh for 200cc+) |
| Processing fee | 2.50% (min ₹2,500) | Up to 5% (product page advertises zero processing fees) | 0.50% of loan (min Rs 500, max Rs 1,000) |
| Pre-closure / prepayment | Nil | 5% of principal outstanding; part-payment 5% | Nil |
| Other terms published | Not published |
|
|
| Official source | federal.bank.in federal.bank.in federal.bank.in | idfcfirst.bank.in idfcfirst.bank.in | pnb.bank.in pnb.bank.in pnb.bank.in |
EMI illustration: ₹1 lakh over 36 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Federal Bank | 12.60% | ₹3,350 | ₹20,606 | ₹1,20,606 |
| IDFC FIRST Bank | 9% | ₹3,180 | ₹14,479 | ₹1,14,479 |
| Punjab National Bank | 10% | ₹3,227 | ₹16,162 | ₹1,16,162 |
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 | Federal Bank (12.60%) | IDFC FIRST Bank (9%) | Punjab National Bank (10%) |
|---|---|---|---|
| ₹0.5 lakh | ₹1,675 | ₹1,590 | ₹1,613 |
| ₹1 lakh | ₹3,350 | ₹3,180 | ₹3,227 |
| ₹1.5 lakh | ₹5,025 | ₹4,770 | ₹4,840 |
Read the full guide: Two-wheeler loan · EMI calculator
Federal Bank vs IDFC FIRST Bank vs Punjab National Bank used car loan: rate, fees and tenure
Starting used car loan rates as published: Federal Bank from 10.15%, IDFC FIRST Bank from 11.99% and Punjab National Bank from 9.45%. Punjab National 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 (7 years (repurchase)).
| Detail | Federal Bank | IDFC FIRST Bank | Punjab National Bank |
|---|---|---|---|
| Product | Loan for Pre-Owned Cars | Pre-owned Car Loan | PNB Car Loan (used vehicles) |
| Published rate | 10.15% - 14.00% | From 11.99%repurchase; from 13.99% refinance | From 9.45% floating / 10.45% fixed |
| Rate basis | Fixed (product page also lists 15.05% floating) | Not published | RLLR-linked (floating) or fixed |
| Maximum tenure | 60 months | 7 years (repurchase) | 60 months |
| Maximum funding | Up to 90% of vehicle value | Up to 200% LTV of market value (Car N Cash refinance) | 75% of vehicle value (25% margin); vehicle up to 3 years old |
| Processing fee | 1% of loan (min ₹5,000, max ₹2,50,000) | Up to 5% of loan amount (incl. GST) | Not published |
| Pre-closure / prepayment | Nil | 5% of principal outstanding + GST; part-payment 5% + GST | Floating: nil; fixed: 2% on amount prepaid |
| Other terms published | Not published |
|
|
| Official source | federal.bank.in federal.bank.in federal.bank.in | idfcfirst.bank.in idfcfirst.bank.in | pnb.bank.in pnb.bank.in |
EMI illustration: ₹5 lakh over 48 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Federal Bank | 10.15% | ₹12,717 | ₹1,10,432 | ₹6,10,432 |
| IDFC FIRST Bank | 11.99% | ₹13,164 | ₹1,31,894 | ₹6,31,894 |
| Punjab National Bank | 9.45% | ₹12,550 | ₹1,02,382 | ₹6,02,382 |
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 | Federal Bank (10.15%) | IDFC FIRST Bank (11.99%) | Punjab National Bank (9.45%) |
|---|---|---|---|
| ₹3 lakh | ₹7,630 | ₹7,899 | ₹7,530 |
| ₹5 lakh | ₹12,717 | ₹13,164 | ₹12,550 |
| ₹8 lakh | ₹20,348 | ₹21,063 | ₹20,079 |
Read the full guide: Used car loan · EMI calculator
Federal Bank vs IDFC FIRST Bank vs Punjab National Bank electric car loan: rate, fees and tenure
Only Punjab National Bank publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Federal Bank and IDFC FIRST Bank do not publish an electric car loan rate on their website, so none is shown.
| Detail | Federal Bank | IDFC FIRST Bank | Punjab National Bank |
|---|---|---|---|
| Product | Not published | Not published | PNB Green Car (E-Vehicle) Loan |
| Published rate | Not published | Not published | From 7.60% |
| Rate basis | Not published | Not published | RLLR-linked |
| Maximum tenure | Not published | Not published | 120 EMIs (10 years) |
| Maximum funding | Not published | Not published | 90% of on-road price (10% margin), or nil margin on ex-showroom price |
| Processing fee | Not published | Not published | Nil |
| Pre-closure / prepayment | Not published | Not published | Nil |
| Other terms published | Not published | Not published |
|
| Official source | Not published | Not published | pnb.bank.in pnb.bank.in |
Read the full guide: Electric car loan
Federal Bank vs IDFC FIRST Bank vs Punjab National Bank tractor loan: rate, fees and tenure
Only IDFC FIRST Bank publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Punjab National Bank lists the longer maximum tenure (new tractor: 7-9 years; no-mortgage variant: 5 years). Federal Bank and Punjab National Bank do not publish a tractor loan rate on their website, so none is shown.
| Detail | Federal Bank | IDFC FIRST Bank | Punjab National Bank |
|---|---|---|---|
| Product | Not published | Tractor Loan | PNB Farm Mechanisation Scheme (tractor financing) |
| Published rate | Not published | 12% - 16%new; 16% - 20% used | Not published |
| Maximum tenure | Not published | 72 months (new); 60 months (used) | New tractor: 7-9 years; no-mortgage variant: 5 years |
| Maximum funding | Not published | ₹1-15 lakh (new); ₹1-5.5 lakh (used) | Need based, net of margin (min 40% margin for no-mortgage variant) |
| Processing fee | Not published | 1% of sanctioned amount | Not published |
| Pre-closure / prepayment | Not published | 2% of principal outstanding + GST | Not published |
| Other terms published | Not published | Not published |
|
| Official source | Not published | idfcfirst.bank.in | pnb.bank.in pnb.bank.in |
Read the full guide: Tractor loan
Federal Bank vs IDFC FIRST Bank vs Punjab National Bank commercial vehicle loan: rate, fees and tenure
Only Federal Bank publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. IDFC FIRST Bank and Punjab National Bank do not publish a commercial vehicle loan rate on their website, so none is shown.
| Detail | Federal Bank | IDFC FIRST Bank | Punjab National Bank |
|---|---|---|---|
| Product | Commercial Vehicles & Construction Equipment Finance | Commercial Vehicle Loan | Not published |
| Published rate | 7.50% - 15% | Not published | Not published |
| Rate basis | Not published | Fixed | Not published |
| Maximum tenure | Not published | 60 months | Not published |
| Maximum funding | Not published | Up to 95% of on-road price | Not published |
| Processing fee | 0.25% + GST (product page); charges schedule lists 2% | Not published | Not published |
| Pre-closure / prepayment | Up to 3% | Not published | Not published |
| Other terms published |
|
| Not published |
| Official source | federal.bank.in federal.bank.in | idfcfirst.bank.in | Not published |
Read the full guide: Commercial vehicle loan
Which is better: Federal Bank, IDFC FIRST Bank or Punjab National Bank?
No loan provider is best for everyone. This is how the published figures split, product by product.
- Car loan, lower starting rate: Punjab National Bank (7.60%) versus 7.90% at Federal Bank and 8.99% at IDFC FIRST Bank.
- Two-wheeler loan, lower starting rate: IDFC FIRST Bank (9%) versus 12.60% at Federal Bank and 10% at Punjab National Bank.
- Used car loan, lower starting rate: Punjab National Bank (9.45%) versus 10.15% at Federal Bank 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.
- Tractor loan, longer maximum tenure: Punjab National Bank (new tractor: 7-9 years; no-mortgage variant: 5 years). 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
Federal Bank and IDFC FIRST Bank are private banks and Punjab National Bank is a public sector bank.
What the loan providers' own pages say about how their rates are set:
- Federal Bank car loan: Fixed (product page also lists 10.15% floating, repo-linked).
- Federal Bank two-wheeler loan: Fixed.
- Federal Bank used car loan: Fixed (product page also lists 15.05% floating).
- IDFC FIRST Bank car loan: Fixed or floating (fees page references fixed-rate bookings and a rate-switch fee).
- IDFC FIRST Bank commercial vehicle loan: Fixed.
- Punjab National Bank car loan: RLLR-linked (floating); fixed option available.
- Punjab National Bank two-wheeler loan: RLLR-linked.
- Punjab National Bank used car loan: RLLR-linked (floating) or fixed.
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 Federal Bank, IDFC FIRST Bank and Punjab National Bank
Federal Bank
Private bank
Kerala-based private bank whose Personal Car Loan covers new cars, used cars and new two-wheelers on fixed rates, with no prepayment charges and free personal accident cover.
Lowest published starting rate: 7.50% (Commercial vehicle 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)
Punjab National Bank
Public sector bank
Public sector bank with RLLR-linked vehicle loans, low capped processing fees and rate concessions for women and electric vehicles.
Lowest published starting rate: 7.60% (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.
- Federal Bank: federal.bank.in/retail-loans-interest-rates · federal.bank.in/personal-car-loan · federal.bank.in/car-loan-interest-rate · federal.bank.in/documents/d/guest/retail-loan-charges-07092926 · federal.bank.in/pre-owned-car-loan · federal.bank.in/commercial-vehicles
- IDFC FIRST Bank: idfcfirst.bank.in/personal-banking/loans/car-loan · idfcfirst.bank.in/personal-banking/loans/car-loan/fees-and-charges · idfcfirst.bank.in/personal-banking/loans/two-wheeler-loan · idfcfirst.bank.in/personal-banking/loans/two-wheeler-loan/fees-and-charges · idfcfirst.bank.in/personal-banking/loans/pre-owned-car-loan · idfcfirst.bank.in/personal-banking/loans/pre-owned-car-loan/fees-and-charges
- Punjab National Bank: pnb.bank.in/carloaninnerpage.html · pnb.bank.in/Retail-Advances-interst-rate-on-advances-linked-to-mclr.html · pnb.bank.in/service-charges-related-to-retail-advances.html · pnb.bank.in/pnbsaarthi.html · pnb.bank.in/PNB-GREEN-CAR-LOAN.html · pnb.bank.in/agriculture-credit-schemes.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
Federal Bank compared with other loan providers
IDFC FIRST Bank compared with other loan providers
Punjab National Bank 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
Federal Bank vs IDFC FIRST Bank vs Punjab National Bank: personal, home and other loans
Comparing these loan providers for something other than a vehicle loan? See their published personal loan, home loan, loan against property, business, gold and education loan terms in one place.
Federal Bank vs IDFC FIRST Bank vs Punjab National Bank compared on all loan types
Frequently asked questions
Which is better for a car loan: Federal Bank, IDFC FIRST Bank or Punjab National Bank?
On the car loan, Punjab National Bank starts lowest at 7.60%, compared with 7.90% at Federal Bank and 8.99% at IDFC FIRST Bank. 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: Federal Bank, IDFC FIRST Bank or Punjab National Bank?
Punjab National Bank has the lower published starting rate. Published starting rates: Federal Bank 7.90%, IDFC FIRST Bank 8.99% and Punjab National Bank 7.60% (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 Federal Bank, IDFC FIRST Bank and Punjab National Bank?
Federal Bank: 1% of loan (min ₹1,000, max ₹50,000). IDFC FIRST Bank: Up to 5% of loan amount (incl. GST). Punjab National Bank: 0.25% of loan (min Rs 1,000, max Rs 1,500); nil documentation. Fees can change and GST is usually extra, so check the Key Fact Statement.
What is the maximum car loan tenure at Federal Bank, IDFC FIRST Bank and Punjab National Bank?
Federal Bank: 84 months. IDFC FIRST Bank: 10 years (120 months). Punjab National Bank: 84 months.
What is the EMI on a ₹10 lakh car loan at Federal Bank, IDFC FIRST Bank and Punjab National Bank?
Over 60 months at each loan provider's lowest published rate: Federal Bank about ₹20,229 a month at 7.90%; IDFC FIRST Bank about ₹20,754 a month at 8.99%; Punjab National Bank about ₹20,086 a month at 7.60%. 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 Federal Bank, IDFC FIRST Bank and Punjab National Bank?
Federal Bank: Up to 95% of on-road price. IDFC FIRST Bank: Up to 100% of on-road price. Punjab National Bank: 85% of on-road price (90% with manufacturer tie-ups); individuals up to Rs 100 lakh. Funding is usually profile-based, so the loan provider decides the final amount.
What other terms do Federal Bank, IDFC FIRST Bank and Punjab National Bank publish for a car loan?
Federal Bank: Free personal accident cover up to ₹10 lakh; No-income-document scheme. IDFC FIRST Bank: Longest tenure among peers at 10 years; Online car marketplace. Punjab National Bank: 7.60% for women borrowers and e-vehicles; Digi Car Loan online option; Reimbursement for recently bought cars. Check each loan provider's page for eligibility and documents before you apply.
Can I prepay or foreclose a car loan early at Federal Bank, IDFC FIRST Bank and Punjab National Bank?
Federal Bank: Nil. IDFC FIRST Bank: 5% of principal outstanding + GST if booked on fixed rate; part-payment 5% + GST. Punjab National Bank: Floating: nil; fixed: 2% on amount prepaid (exceptions apply). Floating-rate loans to individuals cannot carry pre-closure charges; fixed-rate loans often do.
Which vehicle loans do Federal Bank, IDFC FIRST Bank and Punjab National Bank publish rates for?
Federal Bank: car loan, two-wheeler loan, used car loan, commercial vehicle loan. IDFC FIRST Bank: car loan, two-wheeler loan, used car loan, tractor loan. Punjab National Bank: car loan, two-wheeler loan, used car loan, electric car 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.