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.