Vehicle Loan

SBI launches low-cost tailored vehicle loan for Uber's fleet partners

The collaboration is aimed at supporting both new and existing Uber fleet partners, helping them expand their businesses

Car loan rates, terms and processing fees put together in one table

Processing fees and rules of top lenders listed to help you make a decision

Toyota Kirloskar, Union Bank of India partner for vehicle loaning solutions

Toyota Kirloskar Motor on Friday said it has signed a memorandum of understanding (MoU) with Union Bank of India for providing vehicle financing solutions. Under the partnership, customers can get up to 90 per cent financing on the on-road price of any Toyota vehicle purchased for private use, exempting them from any foreclosure, or part-payment charges, the company said in a statement. Besides, private vehicle customers can opt for flexible tenures up to 7 years with interest rates starting from 8.8 per cent per annum. At present, commercial vehicle customers can opt for flexible tenures up to 5 years with competitive rates, it added. "This collaboration signifies our dedication to providing exceptional customer experiences by simplifying and making vehicle financing more accessible. Our goal is to streamline financing options, offer seamless experiences, and provide timely support to make the vehicle purchase process enjoyable," Toyota Kirloskar Motor (TKM) Vice President, ...

Car loan rates, terms and processing fees explained in one table

Processing fees and rules of top lenders listed to help you make a decision

M&M Finance detects Rs 150 cr vehicle loan fraud, postpones board meeting

Stock down 5.5 per cent at close on BSE

Car loan rates, terms and processing fees explained in one table

Processing fees and rules of top lenders listed to help you make a decision

Planning to purchase a car this Holi? Here are the best loan rates

Banks offer a range of interest rates, starting as low as 8.45 per cent from UCO Bank and going up to 14.85 per cent at City Union Bank.

Vehicle loan AUM for NBFCs to cross Rs 8 trillion in 2024-25: CRISIL

The growth in AUMs will be driven by rising demand for commercial vehicles, cars, utility vehicles, and two-/three-wheelers

Bajaj Finance plans to enter new car, MFI, tractor finance segments

Bajaj Finance is already into used car financing and is in the process of tying up with dealers for new four-wheeler financing

Vehicle loans outstanding rise 22% in May despite high interest rates

Vehicle loans outstanding increased by 22 per cent year-on-year to Rs 5.09 lakh crore in May, notwithstanding the Reserve Bank's rate hike spree in 2022-23. As per the latest RBI data, the total vehicle loan outstanding climbed from Rs 3.65 lakh crore in May 2021 to Rs 4.16 lakh crore in May 2022, and further to Rs 5.09 lakh crore as of May 19, 2023. The annual rise in loan outstanding was only 14 per cent in May 2022. The RBI started raising the interest rate in May last year to check inflation in the wake of the Russia-Ukraine war and cumulatively increased the repo rate (benchmark interest rate) by 250 basis points in six tranches before pressing the pause button at the beginning of the current fiscal. The retail sales data collected by the Federation of Automobile Dealers Associations (FADA) also reflects rising sales of vehicles across various categories in June. According to FADA, the auto retail sales in June demonstrated a 10 per cent year-on-year growth, encompassing posi

We need to have a level-playing field with banks: Manappuram Finance CEO

It makes sense to go for bank gold loans if customers are borrowing larger ticket sizes, like Rs 10 or Rs 15 lakh, and for a longer period

Honda Cars India ties up with Indian Bank to provide vehicle loans

Honda Cars India (HCIL) on Friday said it has tied up with Indian Bank to provide vehicle finance for its customers. The partnership will offer easy loan disbursement, reasonable interest rates, special offers, flexible policies and simplified process, the company said in a statement. The customers can avail financing benefits across over 5,700 branches of Indian Bank and HCIL dealer network across the country, it added. ********* MBRDI, Mercedes-Benz India partner for electric vehicle module course at RV College of Engineering * Mercedes-Benz Research and Development India (MBRDI) on Friday said it has partnered with Mercedes-Benz India to introduce an all-new electric vehicle module in its Advanced Diploma Automotive Diploma (ADAM) course offered at RV College of Engineering in Bengaluru. MBRDI has also contributed a high-tech EV lab to upskill the talent pool in the country and support the industry as it transitions towards electric mobility, the company said in a statement.

Economic uptick boosts credit offtake beyond 20% in retail, services

The rise in credit was largely driven by housing and vehicle loans segments

Onset of festive season pushes credit growth across sectors in September

Housing and vehicle loans lead surge in retail credit, which was up 19.6% YoY

Pulling away: Richest 5 states get 38% of all cars in first half of FY23

India's post-pandemic recovery appears to be shaping up like the letter K, widening the inequality among states. Part 2 of the series examines consumption, represented by passenger vehicle sales

SBI, others in race to buy loan portfolio of Tata Motors' finance units

Shareholders of two lending companies clear plans to sell loan assets up to Rs 14,500 crore.

OTO achieves Rs 100-cr disbursal for 11k vehicles via its commerce platform

OTO, founded in 2018 by IIT-Mumbai alumnus Sumit Chhazed and Harsh Saruparia, has facilitated in sale and financing of over 11, 000 vehicles, of which approximately 2, 700 vehicles are electric

Shriram Transport Finance sees vehicle financing on recovery road in FY23

Pegs credit growth at about 15%, based on a GDP growth projection of 7-8%

Borrowers' falling fleet use, cash flows to hit vehicle financers: Ind-Ra

Drop in collection efficiency to materially impact vehicle financers' asset quality, as rising fuel cost would reduce borrowers' ability to service debt

Credit to industry shrank 1.7%, personal loans slowed in October: RBI

Credit to large companies contracted 2.9%, but that to medium enterprises grew 16.7% YoY. Overall credit to industry had grown at 3.4% in October 2019