The much hyped 1-lakh car “Nano” made its appearance at the recent Auto expo in
It shouldn’t be a matter of surprise that in the near future, banks and financial institutions will call up prospective customer offering them a loan for the Nano. The loan is expected to cover both the cost of the car as well as its running cost. Public as well as private banks would definitely take this opportunity to expand their business.
The only worrying factor among people could be the rate of interest on such a loan because the current interest rates on car loans are very discouraging. According to a survey, it’s confirmed that the rate of interest on Tata’s new small car could be a bit higher than other car loans. For a loan amount as low as 1 lakh for a car, a slight push in interest rates shouldn’t really make a big difference to people eyeing the car.
Labels: Car-Loans, One-Lakh-Rupee-Car, small cars, Tata Motor
2 Comments:
Its good news that banks too have taken note of the Nano fever. With more than 2.5 lakh cars to be sold in India alone, they have a lot to win and little to loose. Banks can offer attractive interest rates in order to capture the lower middle class and middle class segment. They shoudl be careful as to not charge high EMIs.
Banks providing car loans has made it so convenient to own a car,as every body cannot afford it.
And now special loan for one lakh car is bonanza offer.now you can own a car with much lesser EMI.
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