PNB car loan interest rate and EMI calculator
Punjab National Bank car loans are at 7.90% to 10.95% a year (floating rate). On its site, PNB does not show the average rate that it charges. The calculator starts at 7.90%, the floating rate for a borrower with a CIBIL score of 750 or more. The calculator also shows the processing fee, the annual percentage rate (APR) and the foreclosure charge. Verification date: 27 Oct 2026.
PNB car loan interest rate and charges
| Interest rate | 7.90% to 10.95% a year (floating RLLR 8.35% + spread 7.90% to 9.95%; fixed 8.90% to 10.95%; by CIBIL score) |
| Average rate charged | Not published by the lender |
| Processing fee | 0.25% of the loan, minimum ₹1,000, maximum ₹1,500 (waived from 1 Oct to 31 Dec 2026) + GST |
| Close early / part-payment | Floating rate: nil. Fixed rate: 2% of the amount prepaid, but nil if you prepay from your own funds. |
| Loan amount and tenure | Up to 25 times gross monthly income, maximum ₹1 crore; 15% margin on the on-road price (10% at tie-up dealers); up to 84 EMIs |
PNB car loan rate by borrower
| Borrower | Floating | Floating, electric | Fixed | Fixed, electric |
|---|---|---|---|---|
| Women (any CIBIL score) | 7.90% | 7.85% | — | — |
| PNB Pride (government, defence, PSU employees and pensioners), corporate, or PNB home loan borrower (any score) | 7.90% | 7.85% | 8.90% | 8.85% |
| Others: CIBIL 750 or more | 7.90% | 7.85% | 8.90% | 8.85% |
| Others: 700–749 | 8.95% | 8.90% | 9.95% | 9.90% |
| Others: 681–699 | 9.95% | 9.90% | 10.95% | 10.90% |
New cars. RLLR 8.35% from 8 Oct 2026. PNB Yuva Vahan: 0.05% less.
PNB car loan EMI table
EMI at 7.90% (the floating rate for a borrower with a CIBIL score of 750 or more). The loan is the on-road price less your down payment.
| Loan | 3 yrs | 4 yrs | 5 yrs | 6 yrs | 7 yrs |
|---|---|---|---|---|---|
| ₹3,00,000 | ₹9,387 | ₹7,310 | ₹6,069 | ₹5,245 | ₹4,661 |
| ₹5,00,000 | ₹15,645 | ₹12,183 | ₹10,114 | ₹8,742 | ₹7,768 |
| ₹7,00,000 | ₹21,903 | ₹17,056 | ₹14,160 | ₹12,239 | ₹10,876 |
| ₹8,00,000 | ₹25,032 | ₹19,493 | ₹16,183 | ₹13,988 | ₹12,429 |
| ₹10,00,000 | ₹31,290 | ₹24,366 | ₹20,229 | ₹17,484 | ₹15,536 |
| ₹12,00,000 | ₹37,548 | ₹29,239 | ₹24,274 | ₹20,981 | ₹18,644 |
| ₹15,00,000 | ₹46,935 | ₹36,549 | ₹30,343 | ₹26,227 | ₹23,305 |
| ₹20,00,000 | ₹62,581 | ₹48,732 | ₹40,457 | ₹34,969 | ₹31,073 |
Cost of the rate on ₹8 lakh for 5 years
APR includes the highest processing fee with GST. It shows the full cost of the loan for each year.
| Rate | EMI | Total interest | APR |
|---|---|---|---|
| Lowest rate (7.90%) | ₹16,183 | ₹1,70,971 | 7.99% |
| Middle of the range (9.43%) | ₹16,774 | ₹2,06,448 | 9.53% |
| Highest rate (10.95%) | ₹17,374 | ₹2,42,440 | 11.05% |
Foreclosure: cost to close the loan
5-year loan at 7.90%. The charge is on the balance that you repay, and you also pay GST.
| Loan | EMIs paid | Balance | Charge |
|---|---|---|---|
| ₹5,00,000 | 6 | ₹4,58,385 | Nil |
| ₹5,00,000 | 18 | ₹3,70,073 | Nil |
| ₹5,00,000 | 30 | ₹2,74,527 | Nil |
| ₹10,00,000 | 6 | ₹9,16,769 | Nil |
| ₹10,00,000 | 18 | ₹7,40,147 | Nil |
| ₹10,00,000 | 30 | ₹5,49,055 | Nil |
PNB and other banks
The data comes from the site of each bank. If a bank shows the average rate that it charged, that rate is the most accurate guide to the rate that a usual borrower gets.
| Lender | Rate | Average charged | Processing fee | Close early |
|---|---|---|---|---|
| State Bank of India | 8.55%–9.50% fixed | 8.90% Jul–Sep 2026 | ₹500–₹2,000 flat | 2% in first 2 years, then nil; part-payment nil |
| HDFC Bank | 7.60%–14.00% fixed | 8.63% Apr–Jun 2026 | 0.5% (₹3,500–₹8,000) + ₹700 | 5% (any time) |
| ICICI Bank | 8.00%–11.20% fixed | 8.92% Jul–Sep 2026 | Up to ₹8,500 | 3% / 2%; nil after 24 months |
| Axis Bank | 8.80%–11.70% fixed | Not published | Up to 2% + ₹700 | 5% (any time) |
| Punjab National Bank | 7.90%–10.95% floating | Not published | 0.25% (₹1,000–₹1,500); waived to 31 Dec | Nil (floating) |
| Bank of Baroda | 7.85%–11.30% floating | Not published | ₹1,500 / ₹2,000 flat | Nil (floating) |
| Canara Bank | 7.75%–10.95% floating | Not published | 0.25% (₹1,000–₹5,000); waived to 31 Dec | Nil |
| Union Bank of India | 7.85%–10.25% floating | Not published | ₹1,000 flat | Nil (own funds) |
| Bank of India | 7.85%–8.95% floating | Not published | 0.25% (₹2,500–₹10,000) | Nil (floating, RBI rule) |
Frequently asked questions
What is the PNB car loan interest rate?
Punjab National Bank car loans are at 7.90% to 10.95% a year. The floating rate is RLLR 8.35% + spread, 7.90% to 9.95%. The fixed rate is 8.90% to 10.95%. The rate changes with the CIBIL score. On its site, PNB does not show the average rate that it charges. The calculator uses 7.90%, the floating rate for a borrower with a CIBIL score of 750 or more. The bank sets your rate from your credit score, income, the car and the tenure.
What is the EMI for an ₹8 lakh PNB car loan?
At 7.90%, the EMI is ₹16,183 for 5 years and ₹12,429 for 7 years. At 7.90%, it is ₹16,183 for 5 years.
What is the processing fee for a PNB car loan?
0.25% of the loan, minimum ₹1,000, maximum ₹1,500 (no fee from 1 Oct to 31 Dec 2026). You also pay GST at 18%. On an ₹8 lakh loan, the highest fee with GST is ₹1,770.
Can I prepay a PNB car loan?
Yes. There is no charge on a floating-rate loan. On a fixed-rate loan, PNB charges 2% of the prepayment. But there is no charge if you pay with money that you did not borrow.
Is the PNB car loan rate fixed or floating?
PNB gives floating-rate car loans that follow the repo rate. Thus, your rate changes when RBI changes the repo rate. It also has a fixed-rate alternative at a higher rate.
Sources
- PNB: Interest rates on retail advances (RLLR 8.35% w.e.f. 08.10.2026). Read on 27 Oct 2026.
- PNB: Car loan scheme. Read on 27 Oct 2026.
- PNB: Service charges for retail advances. Read on 27 Oct 2026.
Banks frequently change these rates. We examine them each month. Your sanction letter and Key Facts Statement show the rate and charges that you pay. Use the KFS / APR checker to examine them.