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Banks That Offer Cheapest Car Loans In India

By SiliconIndia   |   Thursday, February 20, 2014
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2. ICICI Bank

ICICI Bank is one of the most preferred financiers for car loans in the country. Probably, car loans from this bank are extremely convenient, flexible and quick. The minimum loan amount for taking a new car loan is Rs.1, 00,000 and the maximum loan amount will depend upon the price of the car, model variant and profile of the customer. The bank will cover 90 percent of the ex-showroom price of the car. Current offer shows the interest rate as 11 percent and the tenure is 12-84 months.

3. HDFC Bank

HDFC Bank provides a quick and easy car loan with effortless documents, EMI options and Low Interest Rates. Available loan amount is up to 3 times your annual salary or 6 times your annual income and the maximum loan limit is Rs.1.5 crore. Interest rates they are providing currently on the car loans is up to 13.75 percent with a tenure of 12-84 months with a minimum processing time of about two days. Car loan amount will vary depending on the car model and around 100 percent financing for pre-approved customers.

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