Car Loan: The lowest interest on car loan in this bank is Rs. What is the EMI for 10 lakhs? | Telugu News

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Lowest Interest On Car Loan In This Bank

Car Loan: Banks give loans for buying vehicles along with housing loans. Interest is different for both. Again it varies from bank to bank. Each bank charges a different interest rate. Some banks charge low interest. But, what are those banks? How much less does it take? Consumers are in trouble because they don't know that.

Let's know about car loan in detail?

Those who want to buy a vehicle should check which bank offers the lowest interest rates. Very knowledgeable about vehicles
What the bank bazaar says is that only State Bank of India (SBI), the largest banking sector in the country, has low interest on auto loans. Interest rates on SBI car loans range from 8.75 percent to 9.80 percent per annum. But another complication here is the bank's interest rate, CIBIL score, and the type of vehicle. If your CIBIL score is good, you can get loan at minimum interest.

Credit score is the biggest factor

If you take a car loan from SBI.. if your credit score is 800 or above, the interest on the loan will be 8.85 percent for a period of three to five years. If the credit score is between 775-779, the interest will be 9 percent for the same period. If the CIBIL score is between 757-774 the interest is 9.10 percent. You can visit the SBI website sbi.co.in/web/interest-rates/interest-rates/loan-schemes-interest-rates/auto-loans and find out which interest bracket you fall under by credit score.

How much on 10 lakhs?

You can pay Rs. If you take 10 lakhs, if your CIBIL is more than 800.. you will get a loan at an interest rate of 8.85 percent. Accordingly.. your monthly EMI is Rs. 20,686 will be. In five years Rs. 12,41138 ie Rs. 2,41,138 to be paid as interest. Before taking a loan, check the interest rate and conditions on the official website of the bank.

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