Punjab National Bank Car Loan interest rates · November 2026
Your car loan at PNB.
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 7.90%, you repay ₹9.71 lakh: ₹8 lakh borrowed and ₹1.71 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
- 7.90% p.a.
- Rate type
- Floating
- Pricing published as
- RLLR − 0.45% + BSP
- Benchmark
- RLLR today: 8.35%
- Who it's for
- Women 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 PNB's car loan schemes
Different schemes have different conditions. Starting rates are not personalised quotes.
| Scheme | Published rate | EMI range* | Choose |
|---|---|---|---|
| PNB Car Loan (new car)14 borrower bands | 7.85%–9.95% | ₹16,164–₹16,978 | Selected |
| PNB Car Loan (used car)7 borrower bands | 9.70%–10.80% | ₹16,880–₹17,314 |
*₹8 lakh over 5 years, before fees. Scheme names follow the bank's published wording.
Every car loan rate PNB publishes
21 rates across 2 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 |
|---|---|---|---|---|
| PNB Car Loan (new car)Women · Irrespective of CICs Score · Car Loan (other than e-vehicle) | Women borrowers | 7.90% | ₹16,183 | |
| PNB Car Loan (new car)Women · Irrespective of CICs Score · Car Loan (e-vehicle) | Women borrowers | 7.85% | ₹16,164 | |
| PNB Car Loan (new car)PNB PRIDE · Irrespective of CICs Score · Car Loan (other than e-vehicle) | As the band says | 7.90% | ₹16,183 | |
| PNB Car Loan (new car)PNB PRIDE · Irrespective of CICs Score · Car Loan (e-vehicle) | As the band says | 7.85% | ₹16,164 | |
| PNB Car Loan (new car)Corporate · Irrespective of CICs Score · Car Loan (other than e-vehicle) | As the band says | 7.90% | ₹16,183 | |
| PNB Car Loan (new car)Corporate · Irrespective of CICs Score · Car Loan (e-vehicle) | As the band says | 7.85% | ₹16,164 | |
| PNB Car Loan (new car)Insta Vehicle Loan Scheme for existing home loan borrower (New Car Only) · Irrespective of CICs Score · Car Loan (other than e-vehicle) | As the band says | 7.90% | ₹16,183 | |
| PNB Car Loan (new car)Insta Vehicle Loan Scheme for existing home loan borrower (New Car Only) · Irrespective of CICs Score · Car Loan (e-vehicle) | As the band says | 7.85% | ₹16,164 | |
| PNB Car Loan (new car)Others Individual · 750 & above · Car Loan (other than e-vehicle) | Credit score 750 and above | 7.90% | ₹16,183 | |
| PNB Car Loan (new car)Others Individual · 750 & above · Car Loan (e-vehicle) | Credit score 750 and above | 7.85% | ₹16,164 | |
| PNB Car Loan (new car)Others Individual · 700 and up to 749 · Car Loan (other than e-vehicle) | Credit score 700–749 | 8.95% | ₹16,587 | |
| PNB Car Loan (new car)Others Individual · 700 and up to 749 · Car Loan (e-vehicle) | Credit score 700–749 | 8.90% | ₹16,568 | |
| PNB Car Loan (new car)Others Individual · 681 to less than 700 · Car Loan (other than e-vehicle) | Credit score 681–699 | 9.95% | ₹16,978 | |
| PNB Car Loan (new car)Others Individual · 681 to less than 700 · Car Loan (e-vehicle) | Credit score 681–699 | 9.90% | ₹16,958 | |
| PNB Car Loan (used car)Women · Irrespective of CICs Score | Women borrowers | 9.70% | ₹16,880 | |
| PNB Car Loan (used car)PNB PRIDE · Irrespective of CICs Score | As the band says | 9.70% | ₹16,880 | |
| PNB Car Loan (used car)Corporate · Irrespective of CICs Score | As the band says | 9.70% | ₹16,880 | |
| PNB Car Loan (used car)Insta Vehicle Loan Scheme for existing home loan borrower (New Car Only) · Irrespective of CICs Score | As the band says | 9.70% | ₹16,880 | |
| PNB Car Loan (used car)Others Individual · 750 & above | Credit score 750 and above | 9.70% | ₹16,880 | |
| PNB Car Loan (used car)Others Individual · 700 and up to 749 | Credit score 700–749 | 10.30% | ₹17,116 | |
| PNB Car Loan (used car)Others Individual · 681 to less than 700 | Credit score 681–699 | 10.80% | ₹17,314 |
*₹8 lakh over 5 years, before fees. Band names are the bank's own; “who it's for” is what they state.
How PNB compares
Each bank's lowest published rate, and what the same loan would cost a month there. Before charges.
The rates PNB'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.
MCLR by reset period · from 1 Nov 2026
| Reset period | Compared | MCLR |
|---|---|---|
| Overnight | 8.10% | |
| 1 month | 8.35% | |
| 3 months | 8.60% | |
| 6 months | 8.75% | |
| 1 year | 8.90% | |
| 3 years | 9.20% |
A loan on MCLR resets at the end of its period, most often one year, to the MCLR then plus its spread. If yours is still on MCLR, you can ask to move it to the repo-linked rate.
| Older benchmark | Rate | Effective from |
|---|---|---|
| Base rate | 9.50% | 1 Jul 2026 |
| Benchmark prime lending rate (BPLR) | 14.00% | 1 May 2012 |
Loans taken before April 2016 may still be linked to these.
Official Checked 15 Nov 2026 · Bank's own page
PNB car loan: questions borrowers ask
Which PNB car loan scheme has the lowest rate?
PNB Car Loan (new car), from 7.85% a year (priced as RLLR − 0.45% + BSP). Punjab National Bank publishes 2 car loan schemes we read; each has its own conditions, so check which you qualify for.
What is the PNB car loan interest rate?
As of 15 Nov 2026, Punjab National Bank publishes car loan rates of 7.85% to 10.80% a year (floating). The lowest, 7.85%, is for: Women · Irrespective of CICs Score · Car Loan (e-vehicle). 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 PNB?
At PNB's lowest published rate of 7.85%, a ₹8 lakh car loan over 5 years costs about ₹16,164 a month, or ₹1,69,825 in interest over the loan. Charges and insurance are extra.
Are PNB loans linked to the repo rate?
Punjab National Bank's repo-linked lending rate (RLLR) is 8.35% from 8 Oct 2026. Floating retail loans are priced from it, plus a spread fixed when you borrow.
What is PNB's MCLR?
Punjab National Bank's 1-year MCLR is 8.90%, effective 1 Nov 2026. Loans taken between 2016 and 2019 and many business loans are linked to it.
Is PNB cheaper than other banks for a car loan?
Of the 7 banks we read for car loans, PNB's lowest published rate (7.85%) ranks number 4; the lowest is 7.70% at Maharashtra. Compare the charges as well as the rate.
Does RateScan get paid by PNB?
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 PNB
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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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