Car Loans

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IOB, Bank of Maharashtra cut lending rates; personal, car and home loan EMIs to become cheaper
Business

IOB, Bank of Maharashtra cut lending rates; personal, car and home loan EMIs to become cheaper

State-owned Indian Overseas Bank and Bank of Maharashtra on Wednesday announced a reduction in their marginal cost of funds based lending rate (MCLR)

Nirmala Sitharaman partially right on Ola-Uber pushing auto slump, but we need NITI Aayog to tell us how much and why
Business

Nirmala Sitharaman partially right on Ola-Uber pushing auto slump, but we need NITI Aayog to tell us how much and why

The reason why Nirmala Sitharaman is the butt of jokes is that Uber and Ola may not be significant enough in terms of current data

Why collateral-free loans up to Rs 50 lakh is a high-risk idea to implement in slowdown-hit Indian economy
Business

Why collateral-free loans up to Rs 50 lakh is a high-risk idea to implement in slowdown-hit Indian economy

If the government has made up it’s mind to give away large collateral-free loans o entrepreneurs, it should also work out a mechanism to make sure this money is spent well for the stated purpose

As Uber gears up for IPO on Friday, many Indian drivers talk of shattered dreams after steep cut in incentives
Business

As Uber gears up for IPO on Friday, many Indian drivers talk of shattered dreams after steep cut in incentives

Uber started its India operations in 2013, three years after local rival Ola launched a ride-hailing service. Both are backed by Japan’s Softbank Group Corp.

SBI waives off processing fee on car loans fully, 50% on gold, personal loans
Business

SBI waives off processing fee on car loans fully, 50% on gold, personal loans

"To bring more smiles to customers and their dear ones, bank has waived 100 percent processing fee on car loans till 31 December, 2017," SBI said.

India’s non farm-loan debts could settle all distressed farm loans, shows an analysis
Business

India’s non farm-loan debts could settle all distressed farm loans, shows an analysis

A lot of the non-priority NPAs are large and valued customers of the banks, who also have considerable political clout

RBI retains interest rates: Why EMIs on home, auto loans will be unchanged
Economy

RBI retains interest rates: Why EMIs on home, auto loans will be unchanged

Equated monthly installments (EMIs) paid on home, automobile and other loans would remain unchanged, as the Reserve Bank of India (RBI) left key interest rates unchanged in its third bi-monthly monetary policy review Tuesday.<br />

After HDFC Bank, SBI increases lending rate by 20 basis points
Business

After HDFC Bank, SBI increases lending rate by 20 basis points

The EMIs for home, car and even personal loans are likely to go up as both private sector lender HDFC Bank and public lender State Bank of India have increased their minimum lending rate by 20 basis points to 10 percent.<br /><br />

PSU banks cut rates on retail loans, but you should be wary
Investing

PSU banks cut rates on retail loans, but you should be wary

Dena Bank Ltd has a home and car loan combo deal where home loan will be a 10.25 percent while car loan would be 11.75 percent. While the bank's corporate salary account holders would get consumer durables at a discount of 100 basis, at 12 percent.<br /><br />

No cut in home loans but SBI slashes rates on car, consumer loans
Business

No cut in home loans but SBI slashes rates on car, consumer loans

State Bank of India (SBI) on Wednesday reduced interest rates on loans for car and consumer durables and also decided to lower processing charges to cash in on the festival season demand.

Cut your festival spend plan, loan rates may be on the rise
Business

Cut your festival spend plan, loan rates may be on the rise

The bottomline is with the country's largest lender indicating a possible increase in rates and the RBI adopting a hands off policy, higher borrowing cost for all-individuals and corporates-is going to water down this year's festivities.

Earning less than Rs 6 lakh? Forget about that car loan from SBI
Business

Earning less than Rs 6 lakh? Forget about that car loan from SBI

The eligibility limit for loan issuance for salaried individual for car purchase has been raised from Rs 2.5 lakh per annum to Rs 6 lakh per annum, as per the recent circular of the bank. For the SBI account holder, the limit has been raised to Rs 4.5 lakh per annum.<br /><br />

Dena Bank waives off home loan processing fee
Investing

Dena Bank waives off home loan processing fee

On personal loans and gold loans, they are now offering a 50 percent waiver on processing fee. The festival season offer is valid up to 31 December.

Don't make this mistake with your car loan
Investing

Don't make this mistake with your car loan

The biggest mistake you make while dealing with your car loan is at the end--when you pay the last equated monthly instalment (EMI). That is because on paper the vehicle still belongs to the lender unless you take a few steps and tie the loose ends.

PNB cuts home, car loan rates by 25-50 bps
Economy

PNB cuts home, car loan rates by 25-50 bps

The move is expected to boost growth in the bank's retail business as well as fuel the rate cut wars amongst banks, putting smile on faces of new borrowers.

Why it is important to remember 20:4:10 while buying a car
Investing

Why it is important to remember 20:4:10 while buying a car

Thinking of buying a car? Unless you are a rich Arab-sheikh or have access to Dad's Bank un-Ltd, the possibility is that you will need a loan to fund your dream-on-the-wheels and here's what you need to remember

What the SBI rate cut means for borrowers
Business

What the SBI rate cut means for borrowers

While this may come as good news for new borrowers, existing borrowers stand on the downside of advantage.

RBI rate cut: Automakers await cheaper car loans
Business

RBI rate cut: Automakers await cheaper car loans

Analysts pointed out that cutting the RBI's short term lending rate by 0.50 per cent is more of a feel good factor that would buoy customers towards taking purchase decisions.

Despite discounts, owning a car will cost you a bomb
Business

Despite discounts, owning a car will cost you a bomb

The cost of owning a car has also jumped significantly - 12-14 percent - because of frequent increases in fuel prices and interest rates.A recent note by Crisil pointed out home loan borrowers could be saddled with an additional burden of Rs 6,000 crore in the form of higher EMIs