ICICI slashes car loan rate by 1% to 10.5%
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
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Originally Posted by v.r.s.nathan
