From these banks you can also get car loans at a very low interest rate
In times of covid infection, everyone is extremely tempted to travel with their private vehicle instead of public transport. Cars are now a greater need for people than before. It has become one of the major needs of the population. Among the things that the average Indian takes care of when buying a car are the mileage of the car, the brand image of the company, the resale value and the after-sales service network as well than interest on car loans. In this case, today we will give you information on the interest rate of car loans offered by major banks.
SBI Bank: Car loans were granted at an interest rate of 7.25% per annum. The SBI is the largest public bank in the country. At the same time, many other benefits are also granted. These include 90% on-road financing and zero payment fees. It also finances customers who take out SBI loans once for road tax, insurance premium and registration fees.
ICICI Bank: If you are considering taking out a car loan from ICICI Bank, you may have to pay between 7.50 and 9% interest based on the term of the loan and other factors, such as civil score and the customer relationship. How much the interest rate will depend on all factors.
Bank of Baroda: BOB also offers car loans to car customers at the rate of 7% to 9.75%. However, customers who do not buy credit insurance cover will also have to pay a risk premium of 0.05% according to the rules.
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