Going to buy your dream vehicle on a bank loan ? Don’t fall into the traps made by your private bank agent .It is very easy to get Auto loans from these private banks .But there is a hidden agenda they follow to make maximum profit from your pocket by keeping the interest rate floating above average value . State banks are always in the upfront for car and other auto loan industry .Though it takes some time to get the loan sanctioned ,they follow the minimum possible interest rates . SBI the number one Indian bank ,recently introduced an auto loan scheme called SBI Ezee . SBI Ezee is very special on the interest rate on the very first year . One the first year , no matter what your loan amount ,the interest rates will be fixed at 8% . On the second and third year it will be 10 % fixed . After the three years the interest rates will follow the floating rates at that time .
The global recession affected the sales of many Indian and foreign automobile companies . Since many banks are till following the higher interest bank loans ,people are now leas interested to car loans . SBI Ezee car loans ,on this difficult situation would help both these companies and also people who are opting for bank loans .
By giving car loans at 8% interest , SBI Ezee is the best such scheme in India which when compared with 13 % rates followed by private banks is astonishingly small . On a simple calculation we done , equated monthly installments (EMIs) for a SBI car loan for Rs 1-lakh will be as low as Rs 1,559 in the first year and Rs 1,647 in the second and third year . Where as for a private bank it will be near 2000 INR .
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Tags: Car loan, SBI car loan, SBI Ezee car loan, SBI Ezee car loan details, SBI Ezee car loan interest