Bank of Maharashtra Car Loan interest rates · November 2026
Your car loan at Maharashtra.
Choose a scheme. Understand the rate. Explore your repayment.
What would I pay each month?
See scheme conditions Scheme selected for illustration. Check eligibility with the bank.
At 7.70%, you repay ₹9.66 lakh: ₹8 lakh borrowed and ₹1.66 lakh interest.
From the first year, most of each EMI repays the loan.
Every 0.25% off the rate saves about ₹95 a month. Worth asking for.
Range estimate, not your approved offer. Excludes fees. Assumes the rate stays unchanged.
Scheme conditions & source
Understand this scheme
- Published rate
- 7.70% p.a.
- Rate type
- Floating
- Pricing published as
- RLLR − 0.60%
- Benchmark
- RLLR today: 8.30%
- Who it's for
- Credit score 800 and above · Salaried borrowers
What still needs confirming
- Your eligible rate and the scheme's conditions
- Processing fees and other charges
- How often the rate resets, and to what
Effective date not stated · checked 15 Nov 2026
Compare Maharashtra's car loan schemes
Different schemes have different conditions. Starting rates are not personalised quotes.
| Scheme | Published rate | EMI range* | Choose |
|---|---|---|---|
| Maha Super Car Loan16 borrower bands | 7.70%–12.00% | ₹16,106–₹17,796 | Selected |
| Maha Super Car Loan6 borrower bands | 10.35%–11.05% | ₹17,136–₹17,414 | |
| Mahabank Vehicle Loan (used car)6 borrower bands | 11.45%–14.30% | ₹17,574–₹18,739 |
*₹8 lakh over 5 years, before fees. Scheme names follow the bank's published wording.
Every car loan rate Maharashtra publishes
28 rates across 3 schemes, by who each is for. Answer “About you” to see which apply to you.
| Scheme and band | Who it's for | Rate | EMI* | Use |
|---|---|---|---|---|
| Maha Super Car Loan800 & above · Salaried | Credit score 800 and above · Salaried borrowers | 7.70% | ₹16,106 | |
| Maha Super Car Loan800 & above · Non- Salaried | Credit score 800 and above · Non-salaried borrowers | 7.80% | ₹16,145 | |
| Maha Super Car Loan776 to 799 · Salaried | Credit score 776–799 · Salaried borrowers | 7.90% | ₹16,183 | |
| Maha Super Car Loan776 to 799 · Non- Salaried | Credit score 776–799 · Non-salaried borrowers | 8.00% | ₹16,221 | |
| Maha Super Car Loan750 to 775 · Salaried | Credit score 750–775 · Salaried borrowers | 8.00% | ₹16,221 | |
| Maha Super Car Loan750 to 775 · Non- Salaried | Credit score 750–775 · Non-salaried borrowers | 8.10% | ₹16,259 | |
| Maha Super Car Loan700 to 749 · Salaried | Credit score 700–749 · Salaried borrowers | 8.30% | ₹16,336 | |
| Maha Super Car Loan700 to 749 · Non- Salaried | Credit score 700–749 · Non-salaried borrowers | 8.50% | ₹16,413 | |
| Maha Super Car Loan650 to 699 · Salaried | Credit score 650–699 · Salaried borrowers | 9.85% | ₹16,939 | |
| Maha Super Car Loan650 to 699 · Non- Salaried | Credit score 650–699 · Non-salaried borrowers | 10.05% | ₹17,017 | |
| Maha Super Car Loan600 to 649 · Salaried | Credit score 600–649 · Salaried borrowers | 10.15% | ₹17,057 | |
| Maha Super Car Loan600 to 649 · Non- Salaried | Credit score 600–649 · Non-salaried borrowers | 10.50% | ₹17,195 | |
| Maha Super Car LoanBelow 600 · Salaried | Credit score up to 599 · Salaried borrowers | 10.90% | ₹17,354 | |
| Maha Super Car LoanBelow 600 · Non- Salaried | Credit score up to 599 · Non-salaried borrowers | 12.00% | ₹17,796 | |
| Maha Super Car Loan-1 or 0 and NTC · Salaried | New to credit · Salaried borrowers | 9.00% | ₹16,607 | |
| Maha Super Car Loan-1 or 0 and NTC · Non- Salaried | New to credit · Non-salaried borrowers | 10.50% | ₹17,195 | |
| Maha Super Car Loan750 & above · Salaried | Credit score 750 and above · Salaried borrowers | 10.35% | ₹17,136 | |
| Maha Super Car Loan750 & above · Non-Salaried | Credit score 750 and above · Non-salaried borrowers | 10.55% | ₹17,215 | |
| Maha Super Car Loan700- 749 · Salaried | Credit score 700–749 · Salaried borrowers | 10.80% | ₹17,314 | |
| Maha Super Car Loan700- 749 · Non-Salaried | Credit score 700–749 · Non-salaried borrowers | 11.05% | ₹17,414 | |
| Maha Super Car LoanNTC (100-200) /-1 · Salaried | New to credit · Salaried borrowers | 10.80% | ₹17,314 | |
| Maha Super Car LoanNTC (100-200) /-1 · Non-Salaried | New to credit · Non-salaried borrowers | 11.05% | ₹17,414 | |
| Mahabank Vehicle Loan (used car)750 and above | Credit score 750 and above | 11.45% | ₹17,574 | |
| Mahabank Vehicle Loan (used car)700 to 749 | Credit score 700–749 | 11.80% | ₹17,715 | |
| Mahabank Vehicle Loan (used car)650 to 699 | Credit score 650–699 | 12.30% | ₹17,917 | |
| Mahabank Vehicle Loan (used car)600 to 649 | Credit score 600–649 | 13.30% | ₹18,326 | |
| Mahabank Vehicle Loan (used car)Below 600 | Credit score up to 599 | 14.30% | ₹18,739 | |
| Mahabank Vehicle Loan (used car)-1 or 0 and 01 to 05 | New to credit | 12.30% | ₹17,917 |
*₹8 lakh over 5 years, before fees. Band names are the bank's own; “who it's for” is what they state.
How Maharashtra compares
Each bank's lowest published rate, and what the same loan would cost a month there. Before charges.
The rates Maharashtra's loans are linked to
A floating loan's rate is one of these plus a spread fixed when you borrow. When it moves, your EMI or your term moves at the next reset.
Official Checked 15 Nov 2026 · Bank's own page
Maharashtra car loan: questions borrowers ask
Which Maharashtra car loan scheme has the lowest rate?
Maha Super Car Loan, from 7.70% a year (priced as RLLR − 0.60%). Bank of Maharashtra publishes 3 car loan schemes we read; each has its own conditions, so check which you qualify for.
What is the Maharashtra car loan interest rate?
As of 15 Nov 2026, Bank of Maharashtra publishes car loan rates of 7.70% to 14.30% a year (floating). The lowest, 7.70%, is for: 800 & above · Salaried. The rate you are offered depends on your credit score, income and the loan amount.
What is the EMI on a ₹8 lakh car loan from Maharashtra?
At Maharashtra's lowest published rate of 7.70%, a ₹8 lakh car loan over 5 years costs about ₹16,106 a month, or ₹1,66,390 in interest over the loan. Charges and insurance are extra.
Are Maharashtra loans linked to the repo rate?
Bank of Maharashtra's repo-linked lending rate (RLLR) is 8.30%. Floating retail loans are priced from it, plus a spread fixed when you borrow.
Is Maharashtra cheaper than other banks for a car loan?
Of the 7 banks we read for car loans, Maharashtra's lowest published rate (7.70%) ranks first, the lowest. Compare the charges as well as the rate.
Does RateScan get paid by Maharashtra?
No. We take no referral fees, show no ads and don't take loan applications. Every figure is read from the bank's own page, which is linked from every scheme.
More from Maharashtra
Other banks
How we collect loan rates
From the bank's own pages. Every figure is read from the lending-rate page the bank publishes, and links back to it. Benchmarks are re-read every day.
A published rate is not an offer. Banks set your rate from your credit score, income, the loan amount and the property or vehicle. We show the range the bank publishes; "7.60% onwards" means the bank gave no top figure.
Benchmark plus spread. A floating loan's rate is the bank's benchmark (its repo-linked rate, or MCLR for older loans) plus a spread fixed when you borrow. When the benchmark moves, your rate moves with it at the next reset.
The EMI is worked out on a reducing balance with monthly instalments: EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where r is the yearly rate ÷ 12 and n the number of months. It leaves out processing charges and insurance.
No referral fees. We don't take loan applications or get paid by lenders, so the order is the order.
Independent. No referral fees. Official sources.
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