Car Loan Rates May Go Down in India
Posted on January 24th 2008If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
In the view of recent US Fed rate cut of 75 basis points due to slow economy growth in USA, banks and people are speculating that RBI with also cut some rates in India as well. If that happens, car loan rates in India are expected to come down.
So if you are planning to buy a car through car loan, I think you should wait till next Tuesday when quarterly monetary policy is announced by RBI.
If RBI cuts rates, then all types of loan (including car loan) rates are expected to come down by 50 basis point (0.50% interest rate cut).
The current repo rate (the rate on which RBI lends money to banks) is at 7.75% It is expected to come down to &.25% or so.
By Auto India in Auto Finance