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IDFC FIRST Bank vs SBI vs Tata Capital: Vehicle Loan Comparison

By KhatuLoans Editorial Team, edited by Hemant Kumar · Figures checked · Information only, not a loan provider

On the car loan, SBI starts lowest at 8.40%, compared with 8.99% at IDFC FIRST Bank and 9.49% at Tata Capital. 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.

IDFC FIRST Bank vs SBI vs Tata Capital at a glance

DetailIDFC FIRST BankSBITata Capital
Loan provider typePrivate bankPublic sector bankNBFC
Legal nameIDFC FIRST BankState Bank of IndiaTata Capital Ltd
Vehicle loans with a published rateCar loan, Two-wheeler loan, Used car loan, Tractor loanCar loan, Two-wheeler loan, Used car loan, Electric car loanCar loan, Two-wheeler loan, Used car loan, Commercial vehicle loan
Car loan: published rateFrom 8.99%8.40% - 9.35%From 9.49% p.a.
Car loan: maximum tenure10 years (120 months)7 years84 months (product page); rates page calculator shows 72 months
Two-wheeler loan: published rateFrom 9%premium; from 10% commuter, mid-premium, EV11.70% - 15.70%From 12.5% p.a.
Two-wheeler loan: maximum tenure60 monthsUp to 60 months60 months
Used car loan: published rateFrom 11.99%repurchase; from 13.99% refinance10.45% - 15.60%credit-score basedFrom 10.49% p.a.
Used car loan: maximum tenure7 years (repurchase)Up to 5 years (10 years minus vehicle age)72 months
Official websiteidfcfirst.bank.insbi.bank.intatacapital.com

IDFC FIRST Bank vs SBI vs Tata Capital car loan: rate, fees and tenure

Starting car loan rates as published: IDFC FIRST Bank from 8.99%, SBI from 8.40% and Tata Capital from 9.49%. SBI 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)).

DetailIDFC FIRST BankSBITata Capital
ProductNew Car LoanSBI New Car Loan SchemeNew Car Loan
Published rateFrom 8.99%8.40% - 9.35%From 9.49% p.a.
Rate basisFixed or floating (fees page references fixed-rate bookings and a rate-switch fee)MCLR-linked (per SBI auto loan rate page)Fixed and floating options
Maximum tenure10 years (120 months)7 years84 months (product page); rates page calculator shows 72 months
Maximum fundingUp to 100% of on-road priceUp to 100% of on-road priceUp to 100% on-road; loan up to Rs 5 crore
Processing feeUp to 5% of loan amount (incl. GST)Rs 1,000-3,000 + GST (salaried) / Rs 1,500-4,000 + GST (non-salaried), slab by loan amountUp to 2.95% of loan amount
Pre-closure / prepayment5% of principal outstanding + GST if booked on fixed rate; part-payment 5% + GSTNo prepayment charges; no foreclosure charges after 2 years (as published)6% of principal outstanding within 12 months; 5% after 12 months (same for part-prepayment)
Other terms published
  • Longest tenure among peers at 10 years
  • Online car marketplace
  • No advance EMI
  • Interest on daily reducing balance
  • Flexi-pay option: reduced EMI in initial months
  • Variants: Loyalty Car Loan (8.35%-9.30%), Assured Car Loan, NRI Car Loan with nil processing fee
  • Documentation charge up to Rs 1,999
Official sourceidfcfirst.bank.in
idfcfirst.bank.in
sbi.bank.in
sbi.bank.in
sbi.bank.in
tatacapital.com
tatacapital.com

EMI illustration: ₹10 lakh over 60 months

Loan providerRate usedMonthly EMITotal interestTotal repayable
IDFC FIRST Bank8.99%₹20,754₹2,45,210₹12,45,210
SBI8.40%₹20,468₹2,28,102₹12,28,102
Tata Capital9.49%₹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 amountIDFC FIRST Bank (8.99%)SBI (8.40%)Tata Capital (9.49%)
₹5 lakh₹10,377₹10,234₹10,498
₹10 lakh₹20,754₹20,468₹20,997
₹15 lakh₹31,130₹30,703₹31,495
₹20 lakh₹41,507₹40,937₹41,994

Read the full guide: Car loan · EMI calculator

IDFC FIRST Bank vs SBI vs Tata Capital two-wheeler loan: rate, fees and tenure

Starting two-wheeler loan rates as published: IDFC FIRST Bank from 9%, SBI from 11.70% and Tata Capital from 12.50%. 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.

DetailIDFC FIRST BankSBITata Capital
ProductTwo-Wheeler LoanSBI Two Wheeler Loan SchemeTwo-Wheeler Loan
Published rateFrom 9%premium; from 10% commuter, mid-premium, EV11.70% - 15.70%From 12.5% p.a.
Rate basisNot publishedMCLR-linked (1-year MCLR)Fixed
Maximum tenure60 monthsUp to 60 months60 months
Maximum fundingUp to 95% of on-road price85% of on-road price; max Rs 3 lakhUp to 100% for loans up to Rs 2.85 lakh; up to Rs 15 lakh for premium/superbikes
Processing feeUp to 5% (product page advertises zero processing fees)3% of loan + GST (50% waiver for salary package customers)Up to 4% + taxes
Pre-closure / prepayment5% of principal outstanding; part-payment 5%Not publishedForeclosure 5% of principal outstanding; part-prepayment 5% of amount
Other terms published
  • Down payment from 5%
  • Electric two-wheelers covered
  • 0.50% rate concession for electric two-wheelers
  • Separate Super Bike Loan: 12.55% - 14.55%, fee 2% (max Rs 10,000 + GST)
  • Bounce charge Rs 600
  • Penal charge 3% per month on overdue amount
Official sourceidfcfirst.bank.in
idfcfirst.bank.in
sbi.bank.in
sbi.bank.in
sbi.bank.in
tatacapital.com

EMI illustration: ₹1 lakh over 36 months

Loan providerRate usedMonthly EMITotal interestTotal repayable
IDFC FIRST Bank9%₹3,180₹14,479₹1,14,479
SBI11.70%₹3,307₹19,056₹1,19,056
Tata Capital12.50%₹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 amountIDFC FIRST Bank (9%)SBI (11.70%)Tata Capital (12.50%)
₹0.5 lakh₹1,590₹1,654₹1,673
₹1 lakh₹3,180₹3,307₹3,345
₹1.5 lakh₹4,770₹4,961₹5,018

Read the full guide: Two-wheeler loan · EMI calculator

IDFC FIRST Bank vs SBI vs Tata Capital used car loan: rate, fees and tenure

Starting used car loan rates as published: IDFC FIRST Bank from 11.99%, SBI from 10.45% and Tata Capital from 10.49%. SBI 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)).

DetailIDFC FIRST BankSBITata Capital
ProductPre-owned Car LoanSBI Certified Pre-Owned Car LoanUsed Car Loan
Published rateFrom 11.99%repurchase; from 13.99% refinance10.45% - 15.60%credit-score basedFrom 10.49% p.a.
Rate basisNot publishedMCLR-linked (1-year MCLR)Reducing balance; fixed EMI
Maximum tenure7 years (repurchase)Up to 5 years (10 years minus vehicle age)72 months
Maximum fundingUp to 200% LTV of market value (Car N Cash refinance)Up to 85% of valuation; loan Rs 2 lakh - Rs 150 lakhUp to 95% of car value (100% on select cars); loan up to Rs 50 lakh
Processing feeUp to 5% of loan amount (incl. GST)1.50% of loan + GST (min Rs 3,000, max Rs 10,000 + GST)Up to 2.95% of loan amount
Pre-closure / prepayment5% of principal outstanding + GST; part-payment 5% + GSTNot published6% of principal outstanding within 12 months; 5% after 12 months (same for part-prepayment)
Other terms published
  • Instant sanction up to ₹15 lakh
  • Certified pre-owned cars from authorised dealers
  • Loan to be repaid before age 70
  • Car up to 10 years old at loan maturity
  • Valuation fee Rs 750
  • An older Tata Capital page states rates from 15%, 1.75% fee and 7%/6%/5% foreclosure; the rates-and-charges page is used here
Official sourceidfcfirst.bank.in
idfcfirst.bank.in
sbi.bank.in
sbi.bank.in
sbi.bank.in
tatacapital.com
tatacapital.com

EMI illustration: ₹5 lakh over 48 months

Loan providerRate usedMonthly EMITotal interestTotal repayable
IDFC FIRST Bank11.99%₹13,164₹1,31,894₹6,31,894
SBI10.45%₹12,790₹1,13,902₹6,13,902
Tata Capital10.49%₹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 amountIDFC FIRST Bank (11.99%)SBI (10.45%)Tata Capital (10.49%)
₹3 lakh₹7,899₹7,674₹7,680
₹5 lakh₹13,164₹12,790₹12,799
₹8 lakh₹21,063₹20,463₹20,479

Read the full guide: Used car loan · EMI calculator

IDFC FIRST Bank vs SBI vs Tata Capital electric car loan: rate, fees and tenure

Only SBI publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. IDFC FIRST Bank and Tata Capital do not publish an electric car loan rate on their website, so none is shown.

DetailIDFC FIRST BankSBITata Capital
ProductNot publishedSBI Green Car LoanNot published
Published rateNot published8.30% - 9.35%Not published
Rate basisNot publishedMCLR-linked (per SBI auto loan rate page)Not published
Maximum tenureNot publishedUp to 8 yearsNot published
Maximum fundingNot publishedUp to 100% of on-road priceNot published
Processing feeNot publishedNilNot published
Other terms publishedNot published
  • Electric cars only
  • Concession vs regular car loan rate (published as 25 bps)
Not published
Official sourceNot publishedsbi.bank.in
sbi.bank.in
sbi.bank.in
Not published

Read the full guide: Electric car loan

IDFC FIRST Bank vs SBI vs Tata Capital 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. IDFC FIRST Bank lists the longer maximum tenure (72 months (new); 60 months (used)). SBI and Tata Capital do not publish a tractor loan rate on their website, so none is shown.

DetailIDFC FIRST BankSBITata Capital
ProductTractor LoanSBI New Tractor Loan SchemeNot published
Published rate12% - 16%new; 16% - 20% used1-year MCLR + 3.60% to + 4.35%by collateralNot published
Rate basisNot publishedMCLR-linked (1-year MCLR)Not published
Maximum tenure72 months (new); 60 months (used)Up to 5 years (half-yearly instalments)Not published
Maximum funding₹1-15 lakh (new); ₹1-5.5 lakh (used)75% of tractor + accessories cost (25% margin); loan Rs 2 lakh - Rs 25 lakhNot published
Processing fee1% of sanctioned amount1.50% of loan amountNot published
Pre-closure / prepayment2% of principal outstanding + GSTNot publishedNot published
Other terms publishedNot published
  • Collateral optional
  • Minimum 2 acres agricultural land
  • Loan paid directly to dealer
Not published
Official sourceidfcfirst.bank.insbi.bank.inNot published

Read the full guide: Tractor loan

IDFC FIRST Bank vs SBI 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. SBI lists the longer maximum tenure (84 months (48 months for electric cvs); up to 6 months moratorium). IDFC FIRST Bank and SBI do not publish a commercial vehicle loan rate on their website, so none is shown.

DetailIDFC FIRST BankSBITata Capital
ProductCommercial Vehicle LoanSBI Commercial Vehicle LoanCommercial Vehicle Loan (new and used)
Published rateNot publishedRepo Rate + 2.65%From 12% p.a.page meta description
Rate basisFixedEBR (repo) linkedNot published
Maximum tenure60 months84 months (48 months for electric CVs); up to 6 months moratoriumIMHCV up to 72 months; SLCV and buses up to 60 months
Maximum fundingUp to 95% of on-road price85% of on-road price (15% margin); loan Rs 10 lakh - Rs 50 lakhIMHCV up to 100% of ex-showroom; SLCV up to 94% of on-road; buses up to 100% of on-road
Processing feeNot published0.50% of loan + GSTAs per sanction letter
Pre-closure / prepaymentNot publishedNot published4% of outstanding or Rs 5,000, whichever higher (excl. GST), with 30 days notice
Other terms published
  • New, pre-owned, refinance, electric CV and construction equipment variants
  • Covers new CVs, EV, hybrid, CNG, ambulances, caravans
  • CGTMSE cover
  • Needs 2 years industry experience
  • Trucks, buses, tippers, pickups, special-application vehicles
  • Body funding available
  • Used CV refinance, top-up and balance transfer
Official sourceidfcfirst.bank.insbi.bank.intatacapital.com
tatacapital.com

Read the full guide: Commercial vehicle loan

Which is better: IDFC FIRST Bank, SBI or Tata Capital?

No loan provider is best for everyone. This is how the published figures split, product by product.

  • Car loan, lower starting rate: SBI (8.40%) versus 8.99% at IDFC FIRST Bank and 9.49% at Tata Capital.
  • Two-wheeler loan, lower starting rate: IDFC FIRST Bank (9%) versus 11.70% at SBI and 12.50% at Tata Capital.
  • Used car loan, lower starting rate: SBI (10.45%) versus 11.99% at IDFC FIRST Bank and 10.49% at Tata Capital.
  • 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: IDFC FIRST Bank (72 months (new); 60 months (used)). A longer tenure lowers the EMI but raises total interest.
  • Commercial vehicle loan, longer maximum tenure: SBI (84 months (48 months for electric cvs); up to 6 months moratorium). 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

IDFC FIRST Bank is a private bank, SBI is a public sector bank and Tata Capital is a nbfc.

What the loan providers' own pages say about how their rates are set:

  • 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.
  • SBI car loan: MCLR-linked (per SBI auto loan rate page).
  • SBI two-wheeler loan: MCLR-linked (1-year MCLR).
  • SBI used car loan: MCLR-linked (1-year MCLR).
  • SBI electric car loan: MCLR-linked (per SBI auto loan rate page).
  • SBI tractor loan: MCLR-linked (1-year MCLR).
  • SBI commercial vehicle loan: EBR (repo) 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 IDFC FIRST Bank, SBI and Tata Capital

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)

SBI

Public sector bank · State Bank of India

India's largest bank, offering MCLR-linked car, green (EV) car, certified pre-owned car and two-wheeler loans, plus SME commercial vehicle and agri tractor loans.

Lowest published starting rate: 8.30% (Electric car loan)

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

  1. 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.
  2. Compare APR, not the headline rate. Processing fee, documentation charges and insurance change the real cost.
  3. Ask about pre-closure charges. Fixed-rate vehicle loans often carry charges for paying early; floating-rate loans to individuals cannot.
  4. 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.
  5. 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.

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

IDFC FIRST Bank compared with other loan providers

SBI compared with other loan providers

Tata Capital compared with other loan providers

Head-to-head pages for these three loan providers

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Compare any two or three loan providers · Personal loans · Home loans · Vehicle loans

IDFC FIRST Bank vs SBI vs Tata Capital: 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.

IDFC FIRST Bank vs SBI vs Tata Capital compared on all loan types

Frequently asked questions

Which is better for a car loan: IDFC FIRST Bank, SBI or Tata Capital?

On the car loan, SBI starts lowest at 8.40%, compared with 8.99% at IDFC FIRST Bank and 9.49% at Tata Capital. 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: IDFC FIRST Bank, SBI or Tata Capital?

SBI has the lower published starting rate. Published starting rates: IDFC FIRST Bank 8.99%, SBI 8.40% and Tata Capital 9.49% (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 IDFC FIRST Bank, SBI and Tata Capital?

IDFC FIRST Bank: Up to 5% of loan amount (incl. GST). SBI: Rs 1,000-3,000 + GST (salaried) / Rs 1,500-4,000 + GST (non-salaried), slab by loan amount. Tata Capital: Up to 2.95% of loan amount. Fees can change and GST is usually extra, so check the Key Fact Statement.

What is the maximum car loan tenure at IDFC FIRST Bank, SBI and Tata Capital?

IDFC FIRST Bank: 10 years (120 months). SBI: 7 years. Tata Capital: 84 months (product page); rates page calculator shows 72 months.

What is the EMI on a ₹10 lakh car loan at IDFC FIRST Bank, SBI and Tata Capital?

Over 60 months at each loan provider's lowest published rate: IDFC FIRST Bank about ₹20,754 a month at 8.99%; SBI about ₹20,468 a month at 8.40%; Tata Capital about ₹20,997 a month at 9.49%. 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 IDFC FIRST Bank, SBI and Tata Capital?

IDFC FIRST Bank: Up to 100% of on-road price. SBI: Up to 100% of on-road price. Tata Capital: Up to 100% on-road; loan up to Rs 5 crore. Funding is usually profile-based, so the loan provider decides the final amount.

What other terms do IDFC FIRST Bank, SBI and Tata Capital publish for a car loan?

IDFC FIRST Bank: Longest tenure among peers at 10 years; Online car marketplace. SBI: No advance EMI; Interest on daily reducing balance; Flexi-pay option: reduced EMI in initial months. Tata Capital: Documentation charge up to Rs 1,999. Check each loan provider's page for eligibility and documents before you apply.

Can I prepay or foreclose a car loan early at IDFC FIRST Bank, SBI and Tata Capital?

IDFC FIRST Bank: 5% of principal outstanding + GST if booked on fixed rate; part-payment 5% + GST. SBI: No prepayment charges; no foreclosure charges after 2 years (as published). Tata Capital: 6% of principal outstanding within 12 months; 5% after 12 months (same for part-prepayment). Floating-rate loans to individuals cannot carry pre-closure charges; fixed-rate loans often do.

Which vehicle loans do IDFC FIRST Bank, SBI and Tata Capital publish rates for?

IDFC FIRST Bank: car loan, two-wheeler loan, used car loan, tractor loan. SBI: car loan, two-wheeler loan, used car loan, electric car loan. 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.