Some other banks too offer Auto Loan for 7 years with interest rates varying between 10.25% to 16.5%. Many banks have waived off processing charges on car loan. While one major auto loan player - HDFC Bank has interest rate of 11.5% to 13.75%, depending on the vehicle.
Most banks that offer car loan went in for their rate reduction schemes in October. This is when the festive season starts. However, the perks offered by these banks is not going to end soon as it has been extended till
So if you wish to get car loan on lower EMIs and not pay the car loan processing fees then you may apply
for a car loan, ASAP.
For more car loan news click here.