Quote:
Originally Posted by wildon  I'm zeroing on 3 banks for taking a carloan of 4 lakhs for 4 years
2. SBI:-
Interest rate @10% Fixed for the first year and after that its as per the interest rate on that particular year/month.(at present its 11.50% -12.00%)
No precessing fee, pre-closure charges. Offer till Sep'09
Processing time: 8 days
Please suggest and i would like to know any other banks which i can look into.
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Wildon -
Not sure about what suggestions you are looking at, but the processing time taken by SBI is ANYTHING but 8 days. RACPC,Bangalore ensures that it takes you almost a month to get the loan approved.
My personal experience with the SBI loan(got mine approved almost 2 months back)has been OK.
(1)The verification officer came to my house at 6:00 am on a Sunday morning
.
(2)After that I had to call up the dealer on a daily basis to ensure about the status
I also have home loans approved by SBI - so I expected this
Plus points being -
(1)The interest rates are pretty competitive vis-a-vis the other 2 banks that you have narrowed down on?
(2)SBI Brand name ?
Bottom-line :
If you are looking for decent interest rates and are willing to be patient with SBI, go for it !
Peace,
B