SBI vs HDFC car loan
At typical rates SBI (8.75%) is 0.5 points cheaper than HDFC (9.25%): about ₹ 194 less a month on ₹ 8 Lakhs over 5 years, and ₹ 11.6 Thousand less interest. Rate bands checked against both lenders' public cards on 10 Oct 2026 and 11 Oct 2026.
What you'll learn:
- SBI and HDFC car loan rates side by side
- What the gap costs on your loan
- Complaints and borrower reports
Compare Offers
Enter both offers to compare.
SBI or HDFC car loan: which is better?
SBI publishes a full card for new-car loans: a fixed rate of 8.4% to 9.35% by credit score. HDFC publishes only a starting rate, 8.25% for its Xpress Car Loan, and sets the rest by profile. So SBI's quote is easier to predict, and HDFC's depends on asking.
SBI's car loan is fixed-rate, so October's repo hike does not change the EMI once the loan is running; it can only move the rate on new quotes. Ask HDFC whether its quote is fixed or floating.
SBI's fee is a flat amount by loan size: ₹2,000 on an ₹8 lakh loan for salaried borrowers. HDFC does not publish its car-loan fee. Dealers often push their tied lender at the showroom, so come in with your own sanction from either bank.
Pick SBI if
- you want a rate you can predict from the published card
- you want a known, low processing fee
Pick HDFC if
- HDFC quotes you near its starting rate
- you are buying through a dealer with an HDFC tie-up that includes a subvention
SBI vs HDFC car loan comparison
The compare loan offers calculator above opens with each lender's typical car loan rate on ₹ 8 Lakhs over 5 years. Add the processing fee from each quote to compare total cost, not just EMI, then model your own loan on the car loan EMI calculator.
| Measure | SBI | HDFC |
|---|---|---|
| Rate band | 8.4% to 9.35% | 8.25% onwards |
| Starting rate | 8.4% | 8.25% |
| Typical rate we model | 8.75% | 9.25% |
| EMI at starting rate (₹ 8 Lakhs, 5 yrs) | ₹ 16,375 | ₹ 16,317 |
| EMI at typical rate | ₹ 16,510 | ₹ 16,704 |
| EMI at top of band | ₹ 16,743 | Not published |
| Total interest at typical rate | ₹ 1.91 Lakhs | ₹ 2.02 Lakhs |
| Processing fee on ₹ 8 Lakhs | ₹ 2,000 | Not published |
| Interest + fee, full term | ₹ 1.93 Lakhs | ₹ 2.02 Lakhs |
| Longest tenure | Not published | Not published |
| Prepayment charge | Not published | Not published |
| Card checked | 11 Oct 2026 | 10 Oct 2026 |
SBI: New car, fixed, by CIBIL score (3-month MCLR 8.25%), card updated 16 Sep 2026. HDFC: New car (Xpress Car Loan) starting rate; profile sets the final rate. Fees are before 18% GST and come from each lender's fee page, checked 11 Oct 2026; SBI charges flat ₹1,000 to ₹3,000 by loan size (salaried). Where a lender publishes only a ceiling ("up to"), the calculator opens with no fee on either side; enter the ones on your quotes.
What the gap costs at different loan amounts
Typical rates (SBI 8.75%, HDFC 9.25%). 5 years, reducing balance.
| Loan | SBI EMI | HDFC EMI | Monthly gap | Interest gap, full term |
|---|---|---|---|---|
| ₹ 5 Lakhs | ₹ 10,319 | ₹ 10,440 | ₹ 121 | ₹ 7.28 Thousand |
| ₹ 8 Lakhs | ₹ 16,510 | ₹ 16,704 | ₹ 194 | ₹ 11.6 Thousand |
| ₹ 12 Lakhs | ₹ 24,765 | ₹ 25,056 | ₹ 291 | ₹ 17.5 Thousand |
| ₹ 20 Lakhs | ₹ 41,274 | ₹ 41,760 | ₹ 485 | ₹ 29.1 Thousand |
Complaints record
SBI's complaints fell 26% in 2025-26 to 21,09,520, but those about loans rose 68% to 26,102. HDFC's complaints rose 37% in 2025-26 to 6,27,805, and those about loans rose 35% to 87,341.
| FY 2025-26 | SBI | HDFC |
|---|---|---|
| Complaints received | 21,09,520 (-26%) | 6,27,805 (+37%) |
| Escalated to the RBI Ombudsman | 24,356 (-11%) | 18,381 (+35%) |
| About loans and advances | 26,102 (+68%) | 87,341 (+35%) |
Bigger lenders log more because they have more customers, so read the trend, not the raw count. HDFC leaves out complaints redressed within one working day, and duplicates. Read the trend and the ombudsman share rather than ranking banks on the raw count. Sources: SBI Annual Report 2025-26, pp. 264–265 (Schedule 18, note 18.11); HDFC Bank Integrated Annual Report 2025-26, pp. 312–313 (Annexure 6).
What borrowers report
| Lender | App | Google Play rating |
|---|---|---|
| SBI | YONO SBI | 4.2★ from 30.7 lakh ratings |
| HDFC | HDFC Bank Home Loans (loan app) | 2.6★ from 32.7K ratings |
| HDFC | HDFC Bank App | 4.6★ from 14 lakh ratings |
Ratings read on 11 Oct 2026.
SBI: recurring themes
- Complaint: Slow home-loan processing: borrowers describe gaps between sanction and disbursal, and being passed between the branch and SBI's loan processing centre (RACPC). (Moneylife, ConsumerComplaints.in)
Themes are listed only when two independent sources (court rulings, news or complaint forums) agree; treat them as things to check, not a verdict. For HDFC we found no loan theme that met that bar.
What to ask before you sign
- HDFC: the fee and any foreclosure charge, which it does not publish
- Both: whether insurance or add-ons are bundled into the loan amount
Then put both written quotes, with their fees, into the calculator at the top of this page, and try a prepayment on the car loan EMI calculator to see how the gap changes if you pay early.
More on each lender: the SBI EMI calculator and the HDFC EMI calculator, each with its full rate card by loan type. Every lender's car loan rate and fee is on the car loan interest rates page.
Other comparisons
- SBI vs HDFC home loan
- SBI vs LIC Housing Finance home loan
- SBI vs ICICI home loan
- SBI vs Bank of Baroda home loan
Sources
The lender pages behind the rate bands, and RBI's disclosure rules. This site does not update rates in real time; check the effective date on each card.
- SBI Home Loans Interest Rates (Current)Official home-loan card, starting band, and effective-date notes.
- SBI Personal Loan scheme interest ratesMCLR-linked personal-loan spreads and effective rate bands.
- SBI auto loan interest ratesCar loan rates by CIBIL score and tenure.
- SBI education loan interest ratesStudent Loan Scheme, Scholar, and Global Ed-Vantage rates.
- SBI car loan fees and chargesProcessing fee, tenure and prepayment terms used in the table above.
- HDFC Bank home loan interest ratesOfficial starting band, repo benchmark print, and adjustable vs TruFixed explanation.
- RBI notifications indexKey Facts Statement and retail-lending disclosure rules for rate, fees, and EMI.
- RBI (Pre-payment Charges on Loans) Directions, 2025When regulated lenders may not levy pre-payment charges on floating-rate individual loans for non-business purposes.
Last updated on 11 Oct 2026.