New Delhi, May 6 -- Are you looking for a car loan? Before you proceed, it is essential to have a clear repayment plan in place. Proper planning ensures you avoid falling into a cycle of debt.

Car loan interest rates for May 2026 remain competitive, ranging from 7.60% at reputed public sector banks to nearly 10% at several private lenders.

Choosing the right institution and repaying on time directly impacts your EMI, loan amount, tenure and overall costs.

Many borrowers avail fund first and plan repayments later- a risky practice. The correct approach is to plan repayments before applying for your car loan.

Below is the latest comparison of car loan interest rates across major Indian banks as of May 2026.

Note: Data taken from respec...