HDFC Bank vs Kotak Mahindra Bank vs TVS Credit at a glance
| Detail | HDFC Bank | Kotak Mahindra Bank | TVS Credit |
|---|---|---|---|
| Loan provider type | Private bank | Private bank | NBFC |
| Legal name | HDFC Bank | Kotak Mahindra Bank | TVS Credit Services Ltd |
| Vehicle loans with a published rate | Car loan, Two-wheeler loan, Used car loan | Not published | Two-wheeler loan, Used car loan, Three-wheeler loan, Tractor loan, Commercial vehicle loan |
| Official website | hdfc.bank.in | kotak.bank.in | tvscredit.com |
HDFC Bank vs Kotak Mahindra Bank vs TVS Credit car loan: rate, fees and tenure
Only HDFC Bank publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Kotak Mahindra Bank and TVS Credit do not publish a car loan rate on their website, so none is shown.
| Detail | HDFC Bank | Kotak Mahindra Bank | TVS Credit |
|---|---|---|---|
| Product | HDFC Bank New Car Loan | Kotak Car Loan (via Kotak Mahindra Prime Ltd) | Not published |
| Published rate | 7.60% - 14.00%rates given to customers, Apr-Jun 2026; average 8.63%; rack rate from 9% onwards | Not published | Not published |
| Maximum tenure | Up to 7 years | 12 - 84 months | Not published |
| Maximum funding | Up to 100% (profile-based) | Up to 100% of car value; min loan Rs 1 lakh | Not published |
| Processing fee | Up to 0.5% of loan (min Rs 3,500, max Rs 8,000) | Not published | Not published |
| Pre-closure / prepayment | Full pre-closure: 6% of principal within 1 year, 5% in months 13-24, 3% after 24 months (loans from 1 Dec 2025) | Prepayment allowed after 6 months, fee on outstanding as per agreement | Not published |
| Other terms published | Not published |
| Not published |
| Official source | hdfc.bank.in | kotak.bank.in kotak.bank.in | Not published |
Read the full guide: Car loan · EMI calculator
HDFC Bank vs Kotak Mahindra Bank vs TVS Credit two-wheeler loan: rate, fees and tenure
Only HDFC Bank and TVS Credit publish a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. TVS Credit lists the longer maximum tenure (12-60 months). Kotak Mahindra Bank does not publish a two-wheeler loan rate on its website, so none is shown.
| Detail | HDFC Bank | Kotak Mahindra Bank | TVS Credit |
|---|---|---|---|
| Product | HDFC Bank Two Wheeler Loan | Kotak Two-Wheeler Loan (via Kotak Mahindra Prime Ltd) | Two Wheeler Loan |
| Published rate | 9.99% - 25.02%rates given to customers, Apr-Jun 2026; average 18.22%; rack rate from 14.50% | Not published | Up to 36% p.a.policy, 2023 |
| Rate basis | Fixed (floating not offered) | Not published | Fixed IRR |
| Maximum tenure | Not published | 12 - 36 months | 12-60 months |
| Maximum funding | Not published | Up to 95% of on-road price | Up to 95% of on-road price |
| Processing fee | Up to 2.5% of loan, plus documentation charges up to 2.25% | Not published | New 2W up to 8.85%; used 2W up to 5.9% (incl. GST) |
| Pre-closure / prepayment | 5% of principal outstanding up to 24 months, 3% after | Not published | 3% of principal outstanding up to 12 months; 4% for 12-24 months; 5% after 24 months |
| Other terms published | Not published |
|
|
| Official source | hdfc.bank.in | kotak.bank.in | tvscredit.com tvscredit.com tvscredit.com |
Read the full guide: Two-wheeler loan · EMI calculator
HDFC Bank vs Kotak Mahindra Bank vs TVS Credit used car loan: rate, fees and tenure
Only HDFC Bank and TVS Credit publish a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Kotak Mahindra Bank does not publish a used car loan rate on its website, so none is shown.
| Detail | HDFC Bank | Kotak Mahindra Bank | TVS Credit |
|---|---|---|---|
| Product | HDFC Bank Pre-Owned Car Loan | Not published | Used Car Loan |
| Published rate | 9.50% - 17.00%rates given to customers, Apr-Jun 2026; average 13.51%; rack rate from 11.25% | Not published | Up to 30% p.a.policy, 2023 |
| Rate basis | Not published | Not published | Fixed IRR |
| Maximum tenure | Not published | Not published | 12-60 months |
| Maximum funding | Not published | Not published | Up to 95% of asset value |
| Processing fee | Up to 1% of loan (min Rs 3,500, max Rs 9,000) | Not published | Up to 5.9% (schedule of charges) |
| Pre-closure / prepayment | Full pre-closure: 6% within 1 year, 5% in months 13-24, 3% after 24 months | Not published | 6.5% of principal outstanding up to 12 months; 6% for 12-24 months; 5.5% after 24 months |
| Other terms published | Not published | Not published |
|
| Official source | hdfc.bank.in | Not published | tvscredit.com tvscredit.com tvscredit.com |
Read the full guide: Used car loan · EMI calculator
HDFC Bank vs Kotak Mahindra Bank vs TVS Credit three-wheeler loan: rate, fees and tenure
Only TVS Credit publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. HDFC Bank and Kotak Mahindra Bank do not publish a three-wheeler loan rate on their website, so none is shown.
| Detail | HDFC Bank | Kotak Mahindra Bank | TVS Credit |
|---|---|---|---|
| Product | Not published | Not published | Three Wheeler Loan |
| Published rate | Not published | Not published | 13% - 29% p.a.policy, 2023 |
| Rate basis | Not published | Not published | Fixed IRR |
| Maximum tenure | Not published | Not published | 4 years |
| Maximum funding | Not published | Not published | Based on vehicle and customer profile |
| Processing fee | Not published | Not published | Up to 5.9% |
| Pre-closure / prepayment | Not published | Not published | 3% of principal outstanding up to 12 months; 4% for 12-24 months; 5% after 24 months |
| Other terms published | Not published | Not published |
|
| Official source | Not published | Not published | tvscredit.com tvscredit.com tvscredit.com |
Read the full guide: Three-wheeler loan
HDFC Bank vs Kotak Mahindra Bank vs TVS Credit tractor loan: rate, fees and tenure
Only TVS Credit publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. HDFC Bank and Kotak Mahindra Bank do not publish a tractor loan rate on their website, so none is shown.
| Detail | HDFC Bank | Kotak Mahindra Bank | TVS Credit |
|---|---|---|---|
| Product | HDFC Bank Tractor Loan | Kotak Farm Equipment (Tractor) Loan | Tractor Loan (also Used Tractor Loan) |
| Published rate | Not published | MCLR/Reference Rate to 30% | New 11% - 25% p.a.; used 14% - 34% p.a.policy, 2023 |
| Rate basis | Not published | MCLR / reference rate | Fixed IRR |
| Maximum tenure | Not published | Not published | 12-72 months |
| Maximum funding | Not published | Up to 90% of tractor value | Up to 90% of tractor price |
| Processing fee | Not published | Up to 3% of loan amount | Up to 5.9% |
| Pre-closure / prepayment | Not published | Individuals (fixed rate): 4% foreclosure / 2% part-prepayment | 6% of future principal outstanding up to 12 months; 5% after |
| Other terms published | Not published |
|
|
| Official source | hdfc.bank.in | kotak.bank.in kotak.bank.in | tvscredit.com tvscredit.com tvscredit.com |
Read the full guide: Tractor loan
HDFC Bank vs Kotak Mahindra Bank vs TVS Credit commercial vehicle loan: rate, fees and tenure
Only TVS Credit publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Kotak Mahindra Bank lists the longer maximum tenure (12 - 60 months). HDFC Bank and Kotak Mahindra Bank do not publish a commercial vehicle loan rate on their website, so none is shown.
| Detail | HDFC Bank | Kotak Mahindra Bank | TVS Credit |
|---|---|---|---|
| Product | HDFC Bank Commercial Vehicle Loan | Kotak Commercial Vehicle Loan | Used Commercial Vehicle Loan (used only) |
| Published rate | Not published | Not published | Up to 30% p.a.policy, 2023 |
| Rate basis | Not published | Not published | Fixed IRR |
| Maximum tenure | Not published | 12 - 60 months | 6-36 months |
| Maximum funding | Loan up to Rs 3 crore | Not published | Not published |
| Processing fee | Not published | Not published | Up to 5.9% |
| Pre-closure / prepayment | Not published | Not published | 4% of principal outstanding up to 12 months; 5% for 13-36 months; 6% after 36 months |
| Other terms published |
| Not published |
|
| Official source | hdfc.bank.in | kotak.bank.in | tvscredit.com tvscredit.com tvscredit.com |
Read the full guide: Commercial vehicle loan
Which is better: HDFC Bank, Kotak Mahindra Bank or TVS Credit?
No loan provider is best for everyone. This is how the published figures split, product by product.
- Two-wheeler loan, longer maximum tenure: TVS Credit (12-60 months). A longer tenure lowers the EMI but raises total interest.
- Commercial vehicle loan, longer maximum tenure: Kotak Mahindra Bank (12 - 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
HDFC Bank and Kotak Mahindra Bank are private banks and TVS Credit is a nbfc.
What the loan providers' own pages say about how their rates are set:
- HDFC Bank two-wheeler loan: Fixed (floating not offered).
- Kotak Mahindra Bank tractor loan: MCLR / reference rate.
- TVS Credit two-wheeler loan: Fixed IRR.
- TVS Credit publishes only a ceiling for its two-wheeler loan (Up to 36% p.a.), so it cannot be ranked on a starting rate.
- TVS Credit used car loan: Fixed IRR.
- TVS Credit publishes only a ceiling for its used car loan (Up to 30% p.a.), so it cannot be ranked on a starting rate.
- TVS Credit three-wheeler loan: Fixed IRR.
- TVS Credit tractor loan: Fixed IRR.
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 HDFC Bank, Kotak Mahindra Bank and TVS Credit
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)
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.
TVS Credit
NBFC · TVS Credit Services Ltd
Captive-linked financier for TVS Motor two-wheelers with wide rural reach; also used car, tractor, 3W and used CV loans
Lowest published starting rate: 11% (Tractor 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.
- 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
- 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
- TVS Credit: tvscredit.com/loans/two-wheeler-loans/ · tvscredit.com/wp-content/uploads/2023/11/Interest-Rate-Policy-Ver-2.1-Final.pdf · tvscredit.com/wp-content/uploads/2026/08/Schedule-of-Charges_-V4.2.pdf · tvscredit.com/loans/used-car-loans/ · tvscredit.com/loans/three-wheeler-loans/ · tvscredit.com/loans/tractor-loans/
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
HDFC Bank compared with other loan providers
TVS Credit compared with other loan providers
Head-to-head pages for these three loan providers
Compare any two or three loan providers · Personal loans · Home loans · Vehicle loans
Frequently asked questions
Which is better for a vehicle loan: HDFC Bank, Kotak Mahindra Bank or TVS Credit?
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 HDFC Bank, Kotak Mahindra Bank and TVS Credit publish rates for?
HDFC Bank: car loan, two-wheeler loan, used car loan. Kotak Mahindra Bank: no published rate found. TVS Credit: two-wheeler loan, used car loan, three-wheeler loan, tractor 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.