For those who plan on shopping for a brand new automotive, one activity for that’s to determine mortgage choices provided by varied banks. Understanding the rates of interest, processing charges, and different prices related to these loans is crucial for making an knowledgeable determination.
To help on this course of, now we have compiled a complete record of recent automotive mortgage charges and prices by 18 main banks.
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New automotive mortgage charges and prices
UCO Financial institution is providing an rate of interest of 8.45 per cent to 10.55 per cent, translating to EMIs between Rs 10,246 to Rs 10,759 for a mortgage quantity of Rs 5 lakh over a tenure of 5 years.
Union Financial institution of India is providing an rate of interest of 8.7 per cent to 10.45 per cent, leading to EMIs starting from Rs 10,307 to Rs 10,735 for a mortgage quantity of Rs 5 lakh over a tenure of 5 years.
Canara Financial institution is providing an rate of interest of 8.7 per cent to 12.7 per cent, leading to EMIs between Rs 10,307 to Rs 11,300 for a mortgage quantity of Rs 5 lakh over a tenure of 5 years.
Financial institution of Maharashtra is providing an rate of interest of 8.7 per cent to 13 per cent, leading to EMIs starting from Rs 10,307 to Rs 11,377 for a mortgage quantity of Rs 5 lakh over a tenure of 5 years.
Punjab Nationwide Financial institution is providing an rate of interest of 8.75 per cent to 10.6 per cent, translating to EMIs between Rs 10,319 and Rs 10,772 for a mortgage quantity of Rs 5 lakh over a tenure of 5 years.
Financial institution of India is providing an rate of interest of 8.85 per cent to 12.1 per cent, translating to EMIs between Rs 10,343 to Rs 11,148 for a mortgage quantity of Rs 5 lakh over a tenure of 5 years.
Financial institution of Baroda is providing an rate of interest of 8.95 per cent to 12.7 per cent, leading to EMIs starting from Rs 10,367 to Rs 11,300 for a mortgage quantity of Rs 5 lakh over a tenure of 5 years.
State Financial institution of India is providing an rate of interest of 9.05 per cent to 10.1 per cent, leading to EMIs starting from Rs 10,391 to Rs 10,648 for a mortgage quantity of Rs 5 lakh over a tenure of 5 years.
Here’s a record by Paisabazaar.com on automotive loans provided by 18 banks with mortgage charges, EMIs and processing charges.
First Revealed: Oct 03 2024 | 11:44 AM ist
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Kanishk Singh has always had a keen interest in fast-paced cars. For the past three years, he has been writing about automobiles, but his fascination with cars dates back even further. He thoroughly enjoys learning about their features and expressing his thoughts through his writing. Kanishk also has a profound interest in the stock market, shares, and business strategies. He possesses a wealth of knowledge on these subjects and consistently writes articles on them. Currently, he is working as a writer for Lattestnews24, specifically focusing on the Automobile, Finance, and Business categories. His well-crafted words are highly appreciated by the readers, as they find them both informative and creative.