Rastriya Banijya Bank also in cutthroat race of providing cheap auto loans; providing personal automobile loans in 9% interest p.a. with offer running till Kartik End

Keeping in view the growing sales of automobiles for personal use during festival season, Rastriya Banijya Bank has launched a new auto loan product in the market with one of the lowest interest rates in the market i.e. 9 % p.a. the bank has offered to provide upto 65% of the quotation price of the automobile or upto 50 lakh whichever seems to be less for the willing customers as a credit facility.

In addition, the customers will be charged with 9% interest if they prefer upto 5 years of loan repayment window whereas they will have to pay 9.5% as interest if the repayment window exceeds 5 years.

The scheme is valid only till the end of Kartik, according to the bank. customers will receive decision about the loans within 7 working days from submission of application, as per the media note from the bank.