I have booked my first car All new Ford Figo 1.5L TDCI Tit+. I am currently in process of getting loan from SBI with 10.05% Floating Interest. I have been informed SBI only gives floating interest. So, now I have below quey.
Yesterday RBI reduced the base rates by 0.4% for Car loans after which SBI also announced 0.4% reduction in interest base rates with effect from Oct 5th 2015 (effective Interest is 9.65%). As the loan amount is not yet disbursed to the dealer and I am sure it will be done only after 5th Oct so will the new interest will be applicable for me?