What is the average interest rate for an auto loan?
Curious about Auto Loans
The average interest rate for an auto loan in India can vary significantly depending on several factors, including the borrower's credit score, the lender, the loan amount, and the loan tenure. Auto loan interest rates in India typically ranged from around 7% to 15% or even higher in some cases.
It's important to note that interest rates can change over time due to economic conditions and lending policies. To get the most accurate and uptodate information on auto loan interest rates in India, I recommend checking with various banks, financial institutions, and online lenders. They will provide you with specific rates based on your financial profile and the car you intend to purchase. Additionally, shopping around and comparing offers from different lenders can help you secure a competitive interest rate on your auto loan.
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