ICICI Bank vs Punjab National Bank at a glance
| Detail | ICICI Bank | Punjab National Bank |
|---|---|---|
| Loan provider type | Private bank | Public sector bank |
| Legal name | ICICI Bank | Punjab National Bank |
| Vehicle loans with a published rate | Car loan, Two-wheeler loan, Used car loan, Electric car loan, Tractor loan | Car loan, Two-wheeler loan, Used car loan, Electric car loan |
| Car loan: published rate | From 8.40%tenure >36 months; Q1 FY27 disbursed range 7.90% - 11.20% | From 7.60%up to 9.70% floating, CIBIL-based |
| Car loan: maximum tenure | Up to 84 months | 84 months |
| Two-wheeler loan: published rate | 10.25% - 26.10% | From 10.00%Power Ride; 10.85% salaried; 11.35% others |
| Two-wheeler loan: maximum tenure | Up to 36 months | 60 EMIs (scooters/motorcycles) |
| Used car loan: published rate | From 9.75%; Q1 FY27 disbursed range 9.75% - 16.90% | From 9.45% floating / 10.45% fixed |
| Used car loan: maximum tenure | Up to 84 months | 60 months |
| Official website | icici.bank.in | pnb.bank.in |
ICICI Bank vs Punjab National Bank car loan: rate, fees and tenure
Starting car loan rates as published: ICICI Bank from 8.40% 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.
| Detail | ICICI Bank | Punjab National Bank |
|---|---|---|
| Product | ICICI Bank Car Loan | PNB Car Loan |
| Published rate | From 8.40%tenure >36 months; Q1 FY27 disbursed range 7.90% - 11.20% | From 7.60%up to 9.70% floating, CIBIL-based |
| Rate basis | Not published | RLLR-linked (floating); fixed option available |
| Maximum tenure | Up to 84 months | 84 months |
| Maximum funding | 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 | Up to Rs 8,500 + GST | 0.25% of loan (min Rs 1,000, max Rs 1,500); nil documentation |
| Pre-closure / prepayment | Foreclosure: 3% (up to 12 months), 2% (13-24 months), nil after 24 months; part-prepay 3% up to 24 months, nil after | Floating: nil; fixed: 2% on amount prepaid (exceptions apply) |
| Other terms published |
|
|
| Official source | icici.bank.in icici.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 |
|---|---|---|---|---|
| ICICI Bank | 8.40% | ₹20,468 | ₹2,28,102 | ₹12,28,102 |
| 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 | ICICI Bank (8.40%) | Punjab National Bank (7.60%) |
|---|---|---|
| ₹5 lakh | ₹10,234 | ₹10,043 |
| ₹10 lakh | ₹20,468 | ₹20,086 |
| ₹15 lakh | ₹30,703 | ₹30,128 |
| ₹20 lakh | ₹40,937 | ₹40,171 |
Read the full guide: Car loan · EMI calculator
ICICI Bank vs Punjab National Bank two-wheeler loan: rate, fees and tenure
Starting two-wheeler loan rates as published: ICICI Bank from 10.25% and Punjab National Bank from 10%. 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. Punjab National Bank lists the longer maximum tenure (60 emis (scooters/motorcycles)).
| Detail | ICICI Bank | Punjab National Bank |
|---|---|---|
| Product | ICICI Bank Two-Wheeler Loan | PNB Saarthi / PNB Power Ride (women) |
| Published rate | 10.25% - 26.10% | From 10.00%Power Ride; 10.85% salaried; 11.35% others |
| Rate basis | Fixed | RLLR-linked |
| Maximum tenure | Up to 36 months | 60 EMIs (scooters/motorcycles) |
| Maximum funding | Up to 100% 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 | Up to 4% of loan amount | 0.50% of loan (min Rs 500, max Rs 1,000) |
| Pre-closure / prepayment | 4% of principal outstanding (nil for eligible micro/small segment) | Nil |
| Other terms published |
|
|
| Official source | icici.bank.in icici.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 |
|---|---|---|---|---|
| ICICI Bank | 10.25% | ₹3,238 | ₹16,585 | ₹1,16,585 |
| 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 | ICICI Bank (10.25%) | Punjab National Bank (10%) |
|---|---|---|
| ₹0.5 lakh | ₹1,619 | ₹1,613 |
| ₹1 lakh | ₹3,238 | ₹3,227 |
| ₹1.5 lakh | ₹4,858 | ₹4,840 |
Read the full guide: Two-wheeler loan · EMI calculator
ICICI Bank vs Punjab National Bank used car loan: rate, fees and tenure
Starting used car loan rates as published: ICICI Bank from 9.75% 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. ICICI Bank lists the longer maximum tenure (up to 84 months).
| Detail | ICICI Bank | Punjab National Bank |
|---|---|---|
| Product | ICICI Bank Used Car Loan | PNB Car Loan (used vehicles) |
| Published rate | From 9.75%; Q1 FY27 disbursed range 9.75% - 16.90% | From 9.45% floating / 10.45% fixed |
| Rate basis | Not published | RLLR-linked (floating) or fixed |
| Maximum tenure | Up to 84 months | 60 months |
| Maximum funding | Up to 100% (as published) | 75% of vehicle value (25% margin); vehicle up to 3 years old |
| Processing fee | 2% of loan, max Rs 20,000 + GST | Not published |
| Pre-closure / prepayment | Same schedule as new car loan (per service-charges page) | Floating: nil; fixed: 2% on amount prepaid |
| Other terms published |
|
|
| Official source | icici.bank.in icici.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 |
|---|---|---|---|---|
| ICICI Bank | 9.75% | ₹12,621 | ₹1,05,825 | ₹6,05,825 |
| 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 | ICICI Bank (9.75%) | Punjab National Bank (9.45%) |
|---|---|---|
| ₹3 lakh | ₹7,573 | ₹7,530 |
| ₹5 lakh | ₹12,621 | ₹12,550 |
| ₹8 lakh | ₹20,194 | ₹20,079 |
Read the full guide: Used car loan · EMI calculator
ICICI Bank vs Punjab National Bank electric car loan: rate, fees and tenure
Starting electric car loan rates as published: ICICI Bank from 9.10% 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.
| Detail | ICICI Bank | Punjab National Bank |
|---|---|---|
| Product | ICICI Bank EV Car Loan | PNB Green Car (E-Vehicle) Loan |
| Published rate | From 9.10% | From 7.60% |
| Rate basis | Not published | RLLR-linked |
| Maximum tenure | Not published | 120 EMIs (10 years) |
| Maximum funding | Up to 100% of on-road price | 90% of on-road price (10% margin), or nil margin on ex-showroom price |
| Processing fee | Not published | Nil |
| Pre-closure / prepayment | Not published | Nil |
| Other terms published | Not published |
|
| Official source | icici.bank.in | pnb.bank.in pnb.bank.in |
EMI illustration: ₹15 lakh over 60 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| ICICI Bank | 9.10% | ₹31,210 | ₹3,72,623 | ₹18,72,623 |
| Punjab National Bank | 7.60% | ₹30,128 | ₹3,07,695 | ₹18,07,695 |
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 | ICICI Bank (9.10%) | Punjab National Bank (7.60%) |
|---|---|---|
| ₹10 lakh | ₹20,807 | ₹20,086 |
| ₹15 lakh | ₹31,210 | ₹30,128 |
| ₹25 lakh | ₹52,017 | ₹50,214 |
Read the full guide: Electric car loan
ICICI Bank vs Punjab National Bank tractor loan: rate, fees and tenure
Only ICICI 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). Punjab National Bank does not publish a tractor loan rate on its website, so none is shown.
| Detail | ICICI Bank | Punjab National Bank |
|---|---|---|
| Product | ICICI Bank Tractor Loan | PNB Farm Mechanisation Scheme (tractor financing) |
| Published rate | 12.00% - 21.00%Oct-Dec 2025 disbursed range | Not published |
| Maximum tenure | 12 - 72 months | New tractor: 7-9 years; no-mortgage variant: 5 years |
| Maximum funding | Not published | Need based, net of margin (min 40% margin for no-mortgage variant) |
| Processing fee | Up to 2% of loan + GST | Not published |
| Pre-closure / prepayment | 4% of prepaid amount | Not published |
| Other terms published |
|
|
| Official source | icici.bank.in icici.bank.in | pnb.bank.in pnb.bank.in |
Read the full guide: Tractor loan
Which is better: ICICI 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 8.40% at ICICI Bank.
- Two-wheeler loan, lower starting rate: Punjab National Bank (10%) versus 10.25% at ICICI Bank.
- Used car loan, lower starting rate: Punjab National Bank (9.45%) versus 9.75% at ICICI Bank.
- Electric car loan, lower starting rate: Punjab National Bank (7.60%) versus 9.10% at ICICI Bank.
- Two-wheeler loan, longer maximum tenure: Punjab National Bank (60 emis (scooters/motorcycles)). A longer tenure lowers the EMI but raises total interest.
- Used car loan, longer maximum tenure: ICICI Bank (up to 84 months). 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
ICICI Bank is a private bank and Punjab National Bank is a public sector bank.
What the loan providers' own pages say about how their rates are set:
- ICICI Bank two-wheeler loan: Fixed.
- ICICI Bank commercial vehicle loan: Flat rate scheme.
- 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.
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 ICICI Bank and Punjab National Bank
ICICI Bank
Private bank
Large private-sector loan provider with a digital-first car loan process, covering new, used and EV cars, two-wheelers, commercial vehicles and tractors.
Lowest published starting rate: 8.40% (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.
- ICICI Bank: icici.bank.in/personal-banking/loans/car-loan · icici.bank.in/personal-banking/loans/car-loan/service-charges · icici.bank.in/personal-banking/loans/two-wheeler-loan · icici.bank.in/personal-banking/loans/two-wheeler-loan/interest-rate · icici.bank.in/personal-banking/loans/car-loan/pre-owned-car-loans · icici.bank.in/personal-banking/loans/car-loan/ev-car-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
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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ICICI 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.
ICICI Bank vs Punjab National Bank compared on all loan types
Frequently asked questions
Which is better for a car loan: ICICI Bank or Punjab National Bank?
On the car loan, Punjab National Bank starts lower at 7.60%, compared with 8.40% at ICICI 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 car loan interest rate: ICICI Bank or Punjab National Bank?
Punjab National Bank has the lower published starting rate. Published starting rates: ICICI Bank 8.40% 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 ICICI Bank and Punjab National Bank?
ICICI Bank: Up to Rs 8,500 + 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 ICICI Bank and Punjab National Bank?
ICICI Bank: up to 84 months. Punjab National Bank: 84 months.
What is the EMI on a ₹10 lakh car loan at ICICI Bank and Punjab National Bank?
Over 60 months at each loan provider's lowest published rate: ICICI Bank about ₹20,468 a month at 8.40%; 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 ICICI Bank and Punjab National Bank?
ICICI 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 ICICI Bank and Punjab National Bank publish for a car loan?
ICICI Bank: Digital application; Rate depends on CIBIL score, income and car model. 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 ICICI Bank and Punjab National Bank?
ICICI Bank: Foreclosure: 3% (up to 12 months), 2% (13-24 months), nil after 24 months; part-prepay 3% up to 24 months, nil after. 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 ICICI Bank and Punjab National Bank publish rates for?
ICICI Bank: car loan, two-wheeler loan, used car loan, electric 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.