Bank of Maharashtra Used Car Loan Interest Rate 2026
Bank of Maharashtra used car loan rates start at 11.2% p.a. — verified from the official Bank of Maharashtra website. Calculate your exact EMI below.
Six Lakhs rupees
One Lakh Fifty Thousand rupees
Four Lakhs Fifty Thousand rupees
Monthly EMI
₹9.83 K
Loan Composition
0.31x
You'll pay 0.31 times the principal as interest
Bank of Maharashtra Used Car Loan Rates & Charges (2026)
Official Bank of Maharashtra rate pageEvery figure below is taken from Bank of Maharashtra's own published rate card — not from third-party aggregators — and is re-checked by our daily rate tracker.
| Particulars | Bank of Maharashtra Used Car Loan |
|---|---|
| Interest Rate | 11.20% - 14.05% p.a. |
| Rate Benchmark | RLLR (8.05%) + 3.15% to + 6.00% |
| Processing Fee | No processing fee |
| Foreclosure / Prepayment | No pre-payment / pre-closure / part-payment charges |
| Effective | RLLR 8.05%, page updated 01.08.2026 |
- Published as "Mahabank Vehicle Loan Scheme - Second Hand Car (Pre-Owned Cars)"
Last verified against the official Bank of Maharashtra website on Sep 2026. Rates are updated when Bank of Maharashtra revises them.
How Bank of Maharashtra Compares (2026)
Used car loan rates across banks and NBFCs, from each lender's official rate card, sorted by lowest starting rate.
| Lender | Interest Rate (p.a.) | Est. Monthly EMI | Calculated Processing Fee | Total Payable (incl. fees & interest) |
|---|---|---|---|---|
| 8.70% - 10.85% | ₹8,245 | ₹1,180 | ₹4,95,880 | |
| 9.45% - 11.55% | ₹8,391 | Not published | ₹5,03,460 | |
| 9.45% - 13.00% | ₹8,391 | ₹1,500 | ₹5,04,960 | |
| 9.50% - 17.00% | ₹8,401 | Up to ₹4,000 | ₹5,08,060 | |
| 9.55% - 11.65% | ₹8,411 | Not published | ₹5,04,660 | |
| 9.75% - 16.90% | ₹8,450 | ₹9,440 | ₹5,16,440 | |
| 10.20% - 14.65% | ₹8,538 | ₹2,950 | ₹5,15,230 | |
| 10.40% - 11.15% | ₹8,578 | Not published | ₹5,14,680 | |
| 10.45% - 15.60% | ₹8,588 | ₹7,080 | ₹5,22,360 | |
| 11.20% - 14.05% | ₹8,737 | No processing fee | ₹5,24,220 | |
| 11.60% - 11.70% | ₹8,817 | Not published | ₹5,29,020 | |
| 11.99% - 18.00% | ₹8,896 | Up to ₹20,000 | ₹5,53,760 | |
| 12.95% - 14.55% | ₹9,091 | 1% + GST of loan amount or Rs. 6,000, whichever is higher | ₹5,45,460 |
Live figures calculated for ₹4,00,000 over 60 months. Rates and fee formulas sourced directly from each lender's official website (last verified 1 Sept 2026) and auto-refreshed. GST at 18% is added where charged by the lender.