v.r.s.nathan
07-01-2010, 02:22 AM
ICICI Bank is said to have cut interest rates on car loans to 9.75-10.5% from 10.5-11.5%. As these are rack rates, the customer may now get a loan at around 9%, as dealers pass on some of their commissions to customers.
The new rates, which is 50-75 basis points lower than rivals such as HDFC Bank and Axis Bank, may force other lenders to cut their rates to avoid losing market share.
Source - economictimes.com (http://economictimes.indiatimes.com/personal-finance/loan-centre/auto-loans/auto-loans-news/ICICI-slashes-car-loan-rate-by-1-to-105/articleshow/5418190.cms)
The new rates, which is 50-75 basis points lower than rivals such as HDFC Bank and Axis Bank, may force other lenders to cut their rates to avoid losing market share.
Source - economictimes.com (http://economictimes.indiatimes.com/personal-finance/loan-centre/auto-loans/auto-loans-news/ICICI-slashes-car-loan-rate-by-1-to-105/articleshow/5418190.cms)