SBI eases car loan interest rates Christmas festive season
The country’s largest public sector undertaking (PSU) bank State Bank of India (SBI) has eased the car loan rates ahead of high festive season demand in the Indian market. SBI car loan offering at a rate of 11.25 % to the buyers who are planning to buy a new car in the country in this festive season. The decrease in the interest rates has taken the EMI’s to as low as 1725 per lakh for a 7 year loan period.
Meanwhile, the recently organized car loan mela in the North Eastern part of the country has met with an overwhelming response by the buyers of that market. The car loan mela was organized in 39 different cities of the country by SBI in association with country’s largest car maker Maruti Suzuki. The loan provider offered a waiver in the processing fees during this mela. The ease in the car loan has also been extended till the forth coming Christmas festive season and will be available till 31st December 2011.
Besides a waiver in the processing fees, SBI is also offering up to 85% finance on the on-road price of the car with no advance EMI. A free accident insurance is also on offer till the end of the year.
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