Avail of car loans at 9.9 pc interest on spot

Want to buy a new car this festive season? The SBI is offering spot loan sanctioning facility at the Express Auto Expo-2016.

Published: 18th December 2016 02:34 AM  |   Last Updated: 18th December 2016 03:35 AM   |  A+A-

SBI DGM Ajay Kumar Pandey reading TNIE newspapaer at the Auto-Expo

By Express News Service

VISAKHAPATNAM: Want to buy a new car this festive season? The SBI is offering spot loan sanctioning facility at the Express Auto Expo-2016. In the two-day expo, the SBI officials will complete all the formalities and sanction loans within a day and filling the applications, if the required documents are provided to the bankers on the spot.

“We are offering car loans with the interest rate of 9.99 per cent per annum, but not focusing more on two-wheelers. The loan for a two-wheeler will only be sanctioned, if it costs over `1 lakh,” said N Ramakrishna, relationship manager of SBI, AU Campus branch. On the effect of demonetisation on loan sanctioning, SBI DGM Ajay Kumar Pandit said:“ Demonetisation has no effect on sanctioning of loans.

The process is as similar as before the note ban. After demonetisation, the approach for such luxurious gadgets has gone down as people are busy to sort out their priorities.” As December-January is a peak season for automobile business and the demonetisation raised many questions regarding the bank works, this expo will help a lot to make people aware that the loan processing is back to normal, he said.

Stay up to date on all the latest Andhra Pradesh news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp