Hero Honda and Bank of Rajasthan (BoR) have signed an agreement to offer credit facilities to two-wheeler customers at competitive interest rates. This tie-up will offer loans for two-wheelers at 1.5 per cent less interest rate than the prevailing rate, and also there will be a 50 per cent concession on the processing fees. With [...]

Public sector lender, Central Bank of India, signed an agreement with Hyundai Motor India Ltd. (HMIL) to provide cheaper finance to buy the latter’s vehicles. HMIL customers will be offered loans at attractive rates to buy all range of vehicles. Borrowers satisfying certain eligibility norms will get vehicle loans at a concessional rate of 2 [...]

Private sector lender Bank of Rajasthan (BoR) has partnered with Hyundai Motor India Ltd (HMIL) for financing their vehicles. The strategic tie-up will benefit both partners, Bank of Rajasthan in strengthening its position in retail loan segment and Hyundai Motor in leveraging the retail financial strength and reach of the bank. Under the agreement, vehicle [...]

Punjab National Bank, the country’s second-largest public sector bank, has cut interest rates on auto loans by 0.5 per cent. This move has surprised many who had expected an increase in the retail loan rates on account of the RBI’s withdrawal of easy monetary policy. PNB has also announced a waiver of processing and documentation [...]

Tata Capital, a part of the Tata Group, has reduced its interest rate for new auto loans by 0.5 per cent, to 10.5 per cent. The festive offer also comes with a special waiver of processing and foreclosure charges. The new rates would cover all brands of new and used cars, and will be applicable [...]

Axis Bank, the third-largest private sector bank in the country, has joined the car loan war with a 1.5-2 per cent rate cut in select southern cities. The bank is offering loans at an interest rate of 9 per cent across all car models in Hyderabad, Chennai and Bangalore. The rates will be valid till [...]

The country’s largest private lender ICICI Bank and IDBI bank have slashed their car loan rates. The rate cut is 0.5-0.75 per cent for ICICI Bank and 1 per cent for IDBI Bank. For ICICI Bank, this is the result of rejigging of its loan portfolio on account of its small share in the car [...]

Private sector Yes Bank has planned to launch its retail loan products from the next financial year. The bank will start with education loans and will move on to the other segments of retail loans – mainly small ticket personal loans and car loans. Home loans will be last on its agenda. However, the bank [...]