Car Loans: Good news for new car buyers..Banks lending at low interest rates – Car Loan Interest Rates

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We entered the New Year in the hope that the vaccine that would effectively eradicate this corona epidemic would soon arrive. Are you sure you want to buy a new car this year? Good news for you though.

We entered the New Year in the hope that the vaccine that would effectively eradicate this corona epidemic would soon arrive. Are you sure you want to buy a new car this year? Good news for you though. Banks offer low interest loans to those who want to buy a car. SBI, HDFC, ICICI Bank and Punjab National Bank are giving very low interest loans to buy a car.

If you take a loan to buy a car from State Bank of India, the country’s largest bank, the interest rate starts at 7.7 per cent. The loan will be repaid within 74 months. Processing fee starts from Rs.1,000. The loan comes with up to 90 per cent of the car’s on-road price. With the Yono app, you can get a loan at 7.5 per cent interest.

HDFC Bank is charging 8.8 per cent interest on a loan to buy a car. Processing fee .. 0.4% of the loan amount. The loan will be repaid within 84 months. You can get a loan of up to Rs 3 crore in one go.

At ICICI Bank, you have an interest rate of 8% on a car loan. The amount of loan you get varies depending on the car model. The loan must be repaid within 84 months. ICICI also offers some pre-approved loans.

The interest rate on car loans at Punjab National Bank starts at 7.3 per cent. These interest rates are available for defense and paramilitary personnel. Women, however, can take out a car loan at an interest rate of 7.55 per cent. Others have interest rates ranging from 7.55 per cent to 7.8 per cent.

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