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Old 25th December 2009, 23:43   #1
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Default Car loan at Central Bank of India (CBI)

Hi all,

I have booked a Swift Dezire last month and the delivery date is on 30th December. I am taking loan for 4 lakhs from central bank of india. The loan process will take hardly two days as my dad knew the manager. The ROI for three years loan is 10% and the EMI quoted was Rs.3240 per Lakh. There is no processing fee and no preclosure charges. I don't know whether it is a good deal or not. Please advice me on this regard so that i can proceed accordingly.

Thanks,
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Old 26th December 2009, 11:36   #2
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ROI seem's to be high. - I think.
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Old 26th December 2009, 11:55   #3
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Just for sure, you should have checked with other banks like SBI, UBI?
EMI Rs.3240 per lakh (if it is for 3 years) seems little high?
(you didnt mention the tenure of the Loan?)
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