Untitled Document
  Set as homepage     Official
online partner
    Get RSS Feeds     SMS BIZ to 54545   Feedback   Advertise  
Sify Finance
Latest news from Professional Loans
To add to the woes of automobile companies, who have been devising strategies to offset the impact of high interest rates on sales, a further hike in interest rates by banks and lending institutions on loans for cars and two-wheelers is on the cards.
Fewer Indian consumers are opting for loans to buy their cars because of higher interest rates and offers of greater cash discounts by car makers, a study by J.D. Power Asia Pacific showed.
With the auto loan rates hovering between 12-14 per cent, most of the car buyers are sticking to cash deals rather than carrying the burden of long-term EMIs on their head.
Going for that new car or two-wheeler is likely to become slightly more costly from next week as major lenders in the auto loan segment are likely to hike rates by at least 50 basis points. This follows the 25 basis point hike in the repo rate by the Reserve Bank of India last week.
Home loan rates
Bank
Interest rate
EMI
SBI
11%
Rs 1060
CanFin
11.5%
Rs 1169
Indian Bank
10%
Rs 1072
Most Viewed
Is it the time for Equity Fund or Debt Fund? Which is the best performing fund to invest in?
SPONSOR ADS
Shaadi.com
Are you going to many
soon?
Join Free!
Shaadi.com
Are you going to many
soon?
Join Free!
Shaadi.com
Are you going to many
soon?
Join Free!
Shaadi.com
Are you going to many
soon?
Join Free!
Shaadi.com
Are you going to many
soon?
Join Free!
Shaadi.com
Are you going to many
soon?
Join Free!
Special Offer on STOCK TIPS: Subscribe for monthly SMS pack & get stock tips for 45 days (15 days FREE)
StreetCall | MultiBagger | Intraday | NiftyTraders | FllSensor | MarketBuzz | SmarTrade
© Copyright Sify Ltd, 1998-2006. All rights reserved. India News Portal, Sify.com hosted at SifyHosting India's first Level 3 Internet Data Centre.
Site optimized for Internet Explorer 5.5 and above.
See Disclaimer | Privacy Policy & Parental Guidance on pornography | careers@sify | About Us | Feedback | Advertise