HDFC Bank vs Punjab National Bank vs TVS Credit at a glance
| Detail | HDFC Bank | Punjab National Bank | TVS Credit |
|---|---|---|---|
| Loan provider type | Private bank | Public sector bank | NBFC |
| Legal name | HDFC Bank | Punjab National Bank | TVS Credit Services Ltd |
| Vehicle loans with a published rate | Car loan, Two-wheeler loan, Used car loan | Car loan, Two-wheeler loan, Used car loan, Electric car loan | Two-wheeler loan, Used car loan, Three-wheeler loan, Tractor loan, Commercial vehicle loan |
| Two-wheeler loan: published rate | 9.99% - 25.02%rates given to customers, Apr-Jun 2026; average 18.22%; rack rate from 14.50% | From 10.00%Power Ride; 10.85% salaried; 11.35% others | Up to 36% p.a.policy, 2023 |
| Two-wheeler loan: maximum tenure | Not published | 60 EMIs (scooters/motorcycles) | 12-60 months |
| Used car loan: published rate | 9.50% - 17.00%rates given to customers, Apr-Jun 2026; average 13.51%; rack rate from 11.25% | From 9.45% floating / 10.45% fixed | Up to 30% p.a.policy, 2023 |
| Used car loan: maximum tenure | Not published | 60 months | 12-60 months |
| Official website | hdfc.bank.in | pnb.bank.in | tvscredit.com |
HDFC Bank vs Punjab National Bank vs TVS Credit car loan: rate, fees and tenure
Starting car loan rates as published: HDFC Bank from 7.60% and Punjab National Bank from 7.60%. TVS Credit does not publish a car loan rate on its website, so none is shown.
| Detail | HDFC Bank | Punjab National Bank | TVS Credit |
|---|---|---|---|
| Product | HDFC Bank New Car Loan | PNB Car Loan | Not published |
| Published rate | 7.60% - 14.00%rates given to customers, Apr-Jun 2026; average 8.63%; rack rate from 9% onwards | From 7.60%up to 9.70% floating, CIBIL-based | Not published |
| Rate basis | Not published | RLLR-linked (floating); fixed option available | Not published |
| Maximum tenure | Up to 7 years | 84 months | Not published |
| Maximum funding | Up to 100% (profile-based) | 85% of on-road price (90% with manufacturer tie-ups); individuals up to Rs 100 lakh | Not published |
| Processing fee | Up to 0.5% of loan (min Rs 3,500, max Rs 8,000) | 0.25% of loan (min Rs 1,000, max Rs 1,500); nil documentation | 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) | Floating: nil; fixed: 2% on amount prepaid (exceptions apply) | Not published |
| Other terms published | Not published |
| Not published |
| Official source | hdfc.bank.in | pnb.bank.in pnb.bank.in pnb.bank.in | Not published |
EMI illustration: ₹10 lakh over 60 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| HDFC Bank | 7.60% | ₹20,086 | ₹2,05,130 | ₹12,05,130 |
| 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 | HDFC Bank (7.60%) | Punjab National Bank (7.60%) |
|---|---|---|
| ₹5 lakh | ₹10,043 | ₹10,043 |
| ₹10 lakh | ₹20,086 | ₹20,086 |
| ₹15 lakh | ₹30,128 | ₹30,128 |
| ₹20 lakh | ₹40,171 | ₹40,171 |
Read the full guide: Car loan · EMI calculator
HDFC Bank vs Punjab National Bank vs TVS Credit two-wheeler loan: rate, fees and tenure
Starting two-wheeler loan rates as published: HDFC Bank from 9.99% and Punjab National Bank from 10%. 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 | HDFC Bank | Punjab National Bank | TVS Credit |
|---|---|---|---|
| Product | HDFC Bank Two Wheeler Loan | PNB Saarthi / PNB Power Ride (women) | Two Wheeler Loan |
| Published rate | 9.99% - 25.02%rates given to customers, Apr-Jun 2026; average 18.22%; rack rate from 14.50% | From 10.00%Power Ride; 10.85% salaried; 11.35% others | Up to 36% p.a.policy, 2023 |
| Rate basis | Fixed (floating not offered) | RLLR-linked | Fixed IRR |
| Maximum tenure | Not published | 60 EMIs (scooters/motorcycles) | 12-60 months |
| Maximum funding | Not published | 90% (salaried, salary via PNB) or 75% of cost; max Rs 1.5 lakh (Rs 10 lakh for 200cc+) | Up to 95% of on-road price |
| Processing fee | Up to 2.5% of loan, plus documentation charges up to 2.25% | 0.50% of loan (min Rs 500, max Rs 1,000) | 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 | Nil | 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 | pnb.bank.in pnb.bank.in pnb.bank.in | tvscredit.com tvscredit.com tvscredit.com |
EMI illustration: ₹1 lakh over 36 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| HDFC Bank | 9.99% | ₹3,226 | ₹16,145 | ₹1,16,145 |
| 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 | HDFC Bank (9.99%) | Punjab National Bank (10%) |
|---|---|---|
| ₹0.5 lakh | ₹1,613 | ₹1,613 |
| ₹1 lakh | ₹3,226 | ₹3,227 |
| ₹1.5 lakh | ₹4,839 | ₹4,840 |
Read the full guide: Two-wheeler loan · EMI calculator
HDFC Bank vs Punjab National Bank vs TVS Credit used car loan: rate, fees and tenure
Starting used car loan rates as published: HDFC Bank from 9.50% 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.
| Detail | HDFC Bank | Punjab National Bank | TVS Credit |
|---|---|---|---|
| Product | HDFC Bank Pre-Owned Car Loan | PNB Car Loan (used vehicles) | Used Car Loan |
| Published rate | 9.50% - 17.00%rates given to customers, Apr-Jun 2026; average 13.51%; rack rate from 11.25% | From 9.45% floating / 10.45% fixed | Up to 30% p.a.policy, 2023 |
| Rate basis | Not published | RLLR-linked (floating) or fixed | Fixed IRR |
| Maximum tenure | Not published | 60 months | 12-60 months |
| Maximum funding | Not published | 75% of vehicle value (25% margin); vehicle up to 3 years old | 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 | Floating: nil; fixed: 2% on amount prepaid | 6.5% of principal outstanding up to 12 months; 6% for 12-24 months; 5.5% after 24 months |
| Other terms published | Not published |
|
|
| Official source | hdfc.bank.in | pnb.bank.in pnb.bank.in | tvscredit.com tvscredit.com tvscredit.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 |
| 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 | HDFC Bank (9.50%) | Punjab National Bank (9.45%) |
|---|---|---|
| ₹3 lakh | ₹7,537 | ₹7,530 |
| ₹5 lakh | ₹12,562 | ₹12,550 |
| ₹8 lakh | ₹20,099 | ₹20,079 |
Read the full guide: Used car loan · EMI calculator
HDFC Bank vs Punjab National Bank vs TVS Credit 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. HDFC Bank and TVS Credit do not publish an electric car loan rate on their website, so none is shown.
| Detail | HDFC Bank | Punjab National Bank | TVS Credit |
|---|---|---|---|
| Product | Not published | PNB Green Car (E-Vehicle) Loan | Not published |
| Published rate | Not published | From 7.60% | Not published |
| Rate basis | Not published | RLLR-linked | Not published |
| Maximum tenure | Not published | 120 EMIs (10 years) | Not published |
| Maximum funding | Not published | 90% of on-road price (10% margin), or nil margin on ex-showroom price | Not published |
| Processing fee | Not published | Nil | Not published |
| Pre-closure / prepayment | Not published | Nil | Not published |
| Other terms published | Not published |
| Not published |
| Official source | Not published | pnb.bank.in pnb.bank.in | Not published |
Read the full guide: Electric car loan
HDFC Bank vs Punjab National 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 Punjab National Bank do not publish a three-wheeler loan rate on their website, so none is shown.
| Detail | HDFC Bank | Punjab National 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 Punjab National 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. Punjab National Bank lists the longer maximum tenure (new tractor: 7-9 years; no-mortgage variant: 5 years). HDFC Bank and Punjab National Bank do not publish a tractor loan rate on their website, so none is shown.
| Detail | HDFC Bank | Punjab National Bank | TVS Credit |
|---|---|---|---|
| Product | HDFC Bank Tractor Loan | PNB Farm Mechanisation Scheme (tractor financing) | Tractor Loan (also Used Tractor Loan) |
| Published rate | Not published | Not published | New 11% - 25% p.a.; used 14% - 34% p.a.policy, 2023 |
| Rate basis | Not published | Not published | Fixed IRR |
| Maximum tenure | Not published | New tractor: 7-9 years; no-mortgage variant: 5 years | 12-72 months |
| Maximum funding | Not published | Need based, net of margin (min 40% margin for no-mortgage variant) | Up to 90% of tractor price |
| Processing fee | Not published | Not published | Up to 5.9% |
| Pre-closure / prepayment | Not published | Not published | 6% of future principal outstanding up to 12 months; 5% after |
| Other terms published | Not published |
|
|
| Official source | hdfc.bank.in | pnb.bank.in pnb.bank.in | tvscredit.com tvscredit.com tvscredit.com |
Read the full guide: Tractor loan
HDFC Bank vs Punjab National 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. HDFC Bank and Punjab National Bank do not publish a commercial vehicle loan rate on their website, so none is shown.
| Detail | HDFC Bank | Punjab National Bank | TVS Credit |
|---|---|---|---|
| Product | HDFC Bank Commercial Vehicle Loan | Not published | 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 | Not published | 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 | Not published | tvscredit.com tvscredit.com tvscredit.com |
Read the full guide: Commercial vehicle loan
Which is better: HDFC Bank, Punjab National Bank or TVS Credit?
No loan provider is best for everyone. This is how the published figures split, product by product.
- Two-wheeler loan, lower starting rate: HDFC Bank (9.99%) versus 10% at Punjab National Bank.
- Used car loan, lower starting rate: Punjab National Bank (9.45%) versus 9.50% at HDFC Bank.
- 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
HDFC Bank is a private bank, Punjab National Bank is a public sector bank 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).
- 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.
- Punjab National Bank electric car loan: RLLR-linked.
- 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.
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, Punjab National 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)
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)
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
- 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
- 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
Punjab National Bank compared with other loan providers
TVS Credit 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 two-wheeler loan: HDFC Bank, Punjab National Bank or TVS Credit?
HDFC Bank has the lower published starting two-wheeler loan rate at 9.99%, against 10% at Punjab National Bank. 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 two-wheeler loan interest rate: HDFC Bank, Punjab National Bank or TVS Credit?
HDFC Bank has the lower published starting rate. Published starting rates: HDFC Bank 9.99% and Punjab National Bank 10% (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 two-wheeler loan at HDFC Bank, Punjab National Bank and TVS Credit?
HDFC Bank: Up to 2.5% of loan, plus documentation charges up to 2.25%. Punjab National Bank: 0.50% of loan (min Rs 500, max Rs 1,000). TVS Credit: New 2W up to 8.85%; used 2W up to 5.9% (incl. GST). Fees can change and GST is usually extra, so check the Key Fact Statement.
What is the maximum two-wheeler loan tenure at HDFC Bank, Punjab National Bank and TVS Credit?
HDFC Bank: not published. Punjab National Bank: 60 emis (scooters/motorcycles). TVS Credit: 12-60 months.
What is the EMI on a ₹1 lakh two-wheeler loan at HDFC Bank, Punjab National Bank and TVS Credit?
Over 36 months at each loan provider's lowest published rate: HDFC Bank about ₹3,226 a month at 9.99%; Punjab National Bank about ₹3,227 a month at 10%. 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 two-wheeler loan from HDFC Bank, Punjab National Bank and TVS Credit?
HDFC Bank: not published. Punjab National Bank: 90% (salaried, salary via PNB) or 75% of cost; max Rs 1.5 lakh (Rs 10 lakh for 200cc+). TVS Credit: Up to 95% of on-road price. Funding is usually profile-based, so the loan provider decides the final amount.
What other terms do HDFC Bank, Punjab National Bank and TVS Credit publish for a two-wheeler loan?
Punjab National Bank: PNB Power Ride: lower rate for women. TVS Credit: Also finances used and other-OEM two-wheelers. Check each loan provider's page for eligibility and documents before you apply.
Can I prepay or foreclose a two-wheeler loan early at HDFC Bank, Punjab National Bank and TVS Credit?
HDFC Bank: 5% of principal outstanding up to 24 months, 3% after. Punjab National Bank: Nil. TVS Credit: 3% of principal outstanding up to 12 months; 4% for 12-24 months; 5% after 24 months. Floating-rate loans to individuals cannot carry pre-closure charges; fixed-rate loans often do.
Which vehicle loans do HDFC Bank, Punjab National Bank and TVS Credit publish rates for?
HDFC Bank: car loan, two-wheeler loan, used car loan. Punjab National Bank: car loan, two-wheeler loan, used car loan, electric car loan. 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.