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The GST council has decided on 18% and 40% rates for ICE cars, while car loan rates range from 7.80 to 9.99%
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Bajaj Finance has cut used car refinancing due to high delinquencies, reducing volumes from Rs 400 crore to Rs 250 crore per quarter, while focusing on new car loans and secured lending.
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When shopping for a car loan, go beyond brochures and advertisements, and don't rely solely on dealership offers.
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This festive season, UCO Bank, Canara Bank and Bank of India offer best car loans at interest rates between 8.45 and 8.85 percent on loans of Rs 5 lakh with a five-year tenure.
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This Akshaya Tritiya, Union Bank of India, State Bank of India, and ICICI Bank offer best car loans at interest rates between 8.70 and 9.10 percent on loans of Rs 10 lakh with a four-year tenure
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It’s one thing to aspire to buy a luxury car, but quite another if your car’s equated monthly installments exhaust your entire monthly budget. Ideally, your total EMIs should not exceed 30 percent of your monthly take-home income.
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HDFC Bank is hosting the mega car loan mela on June 2 and 3 in central India and Maharashtra. The bank is offering customers two flexible repayment options – step-up and balloon. Moneycontrol looks into the pros and cons.
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Central Bank of India and HDFC Bank offer the lowest rate of 7.9 percent on car loans. State Bank of India, too, is on the cheapest lenders' list with an interest rate of 8.05 percent
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These banks offer interest rates of 7.65-8.2 percent on Rs 10-lakh car loans with seven-year repayment tenures
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As part of the partnership, Tata Motors’ customers would be able to avail car loans from over 5,700 branches of Indian Bank across the country.
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As part of the partnership, the company's customers can avail the loan benefits in over 5,700 plus branches of Indian Bank at metro, urban, semi-urban and rural locations.
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Punjab National Bank leads the pack with an interest of Rs 14,922 for a Rs 10 lakh car loan with tenure of seven years
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This is because the Reserve Bank of India rules require banks to follow NPA classification at a borrower level and not at a product level.
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Both existing and new customers will be eligible to avail loans from KVB, which seeks to leverage the vast new car retail network of Tata Motors across India, even as the bank has a branch network of 779 across 22 States and union territories.
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Kotak Mahindra Prime's car loans are available for both salaried and self-employed individuals
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Cars Under 7 Lakhs: Some cars cost higher than others, there are plenty of affordable models out there. Find the list of best cars under 7 Lakhs in India with their specification including the features & on road rates.
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Zero Down Payment Car Loan: Now buy a new car with zero down payment service offered by banks. Zero down payment car is a loan facility where a bank funds the entire value of the car. Click here to know more about the same.
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The lender, on April 17, allowed online final sanction letters to obtain car and two-wheeler loans for a select set of pre-approved customers.
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So far, Deal4loans has helped in disbursing loans worth Rs 13,500 crore and targets an annualised run rate of Rs 6,500 crore for the financial year end.
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In a move that is expected to lead to lower rates for housing EMIs, car loans and corporate borrowing, the Reserve Bank reduced the short term lending rate (repo rate) by 0.25 percent to 6-year low of 6.25 percent in the fourth bi-monthly monetary policy statement.
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Depending on the method of calculation of interest rate, the amount of interest is arrived at. Accordingly your monthly outgo is ascertained.
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With a slew of attractive rates, schemes, and services offered by financial institutions, women customers can take advantage of banking services being offered to them in the coming days.
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Under the scheme, all the home and auto loan applications made till December 31 are being given a concession of 50 percent on the processing fee, the bank said in a statement.
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"The worst is over...export-oriented companies are doing better because of the adjustment in the rupee. We brought a lot of control on our current account deficit (and) the government is quite focused on [controlling] the fiscal deficit," Kochhar said on CNBC's Managing Asia.
