Top 10 Banks for Car Loan in IndiaName of the LenderInterest Rate (p.a.)HDFC BankStarting from 8.90% (Please contact the bank for updated rates)Federal Bank9.25%Axis Bank9.05% to 11.30%Canara Bank8.75% to 11.30%6 autres lignes
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Which is the best bank for car loan Quora?
SBI is best car loan provider. Lowest Interest Rates & EMI; Longest Repayment Tenure (7 years);
Which bank offers cheapest car loan Quora?
ap per the current rates, HDFC Bank, Axis Bank, Bank of Maharashtra offers the lowest car loan interest rate of 9.25%. These rates can vary depending upon the company you are working with, loan amount you have applied for, value of the car and your repayment capacity.
What is Quora car loan interest rate?
9.50% to 10.25% is a good interest rate for a car loan but it depends on the segment of vehicle as well. I had got my Maruti Suzuki WAGON R through HDFC Bank which funded me to buy my first car. There are certain factors a bank considers before approving you of your Car Loan.
How much car loan can I get on 40000 salary?
It is advised to customers that they restrict their car loans to not more than 20 percent of their monthly income. For example, if you make Rs. 40,000 per month, your monthly car loan EMI should not exceed Rs. 8,000.24 jui. 2020
How much is the minimum down payment on a car?
When you take a loan, some banks will expect you to pay a certain portion (usually 5% to 15%) of the car value to the dealer before they release the Car Loan. This is called a down payment.
Is it good to buy car on loan Quora?
A car loan may indeed be a great option depending on your circumstances, interest rate offered etc. However keep in mind that it only makes sense to start considering a loan as an option if and only if you have already established the need to purchase a car and have the income to comfortably afford it.
Is SBI car loan good Quora?
Car loan is pretty much a standard product offered by various banks and NBFCs such as ICICI Bank, HDFC bank, SBI, Axis, etc. They are all good leading banks and provide excellent services. In short, they are all pretty much the same.
Is Bank of India good for car loan?
Bank of India Car Loan Overview The car loan that BOI offers is called ‘BOI Star Vehicle Loan Scheme’ and is one of the best car loans in the market as it offers ease of access, competitive interest rates and flexible repayment tenure.
What is the interest rate for car loan in SBI?
7.50%
What is the interest rate for car loan in HDFC Bank?
7.95%
How much loan can a bank employee get?
Benefit on loan amount: Home loans for bank employees can range from Rs. 30 lakh up to Rs. 10 crore depending on salary and other eligibility criteria. Benefit on loan tenure: Housing loans for bank employees often have longer loan tenures of up to 25 years.
What does a simple interest loan mean?
Deeper definition Simple interest is the most basic way of computing interest on a loan. … A simple-interest mortgage charges daily interest instead of monthly interest. When the mortgage payment is made, it is first applied to the interest owed. Any money that’s left over is applied to the principal.
What is Bank PO Philippines?
Getting a bank PO (purchase order) is the more cost-effective way in the long term – more about that below – but you’ll need to put down a significant amount for down payment, say 20 percent at least. What makes this option more economical is the add-on rate for the duration of your auto loan.7 mar. 2019
Can I buy a house with 40k salary?
Take a homebuyer who makes $40,000 a year. The maximum amount for monthly mortgage-related payments at 28% of gross income is $933. ($40,000 times 0.28 equals $11,200, and $11,200 divided by 12 months equals $933.33.)11 jan. 2016