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Originally Posted by dmitri the loan was for my esteem 2004 model, loan taken on june 2005. It was for 1.7 Lakh, with an EMI of 4477(my magic number :-)) for a tenure of 48months. The processing charge was 1500Rs.
The loan rates for used cars were fixed for all cars(regardless of the car make and model) with Federal Bank. |
Dmitri,
That transalates into a 12% effective rate of interest for you
~A