Car loan at Central Bank of India (CBI)

ForeRunner · 25th December 2009, 23:43

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,

rjvora_2000 · 26th December 2009, 11:36

ROI seem's to be high. - I think.

nairrk · 26th December 2009, 11:55

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?)

25th December 2009, 23:43	#1
ForeRunner BHPian Join Date: Jun 2008 Location: Chennai Posts: 100 Thanked: 4 Times	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,
	() Thanks

26th December 2009, 11:36	#2
rjvora_2000 Senior - BHPian Join Date: Mar 2008 Location: Mumbai/Mulund Posts: 1,658 Thanked: 56 Times	ROI seem's to be high. - I think.
	() Thanks

26th December 2009, 11:55	#3
nairrk Senior - BHPian Join Date: Sep 2009 Location: Kannur Posts: 2,441 Thanked: 674 Times View My Garage	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?)
	() Thanks