Which Bank Offers Best Interest Rate on New Car?


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Yesterday saw in newspaper that TATA Aria is available with 0% interest rate. Dont know which bank it is from.
 
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Oct 6, 2012
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The processing charges should have been waived iff. The stamp duty franking vary from state to state, here about 150 for a 8 lakh loan in SBBJ.
 
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Oct 6, 2012
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SBI Car Loan @ 10.50%
No pre payment penalty (6 EMI's mandatory)
Only .255% processing fees.
I got my loan of 7.85 lakh @ 10.5% reducing from SBBJ, onroad price of my car about Rs.9.15 lakh, after adjusting my insurance 50 % NCB from the Maruti 800.

No processing or other charges, only a Rs.150 stamp duty. No advance EMIs (margin about 15% of the OTR price).

The rates and charges are higher if taken in a firm or company name.

No prepayment penalty, and the rate is linked to their base lending rate, which is currently 9.75%. The rate is floating, and goes down with the base rate (or up). I expect rate cuts in the near future, so should reduce.

I suggest others also, at least talk to SBBJ. SBI also normally is the same, so why the difference right now, I can't say.

The service had to be seen to be believed as I said earlier too. We never left the chair. 20 minutes, and the cheque was under process ( delayed due to some server failure). Never seen such service even with private banks or DSAs etc.

Anyway these banks are right now better than the private banks.
 
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