Auto loans rates increased

Auto loan rates are set to get expensive for new borrowers

ICICI Bank, India’s No. 2 lender, has raised auto loans by 25-50 basis points for different tenors and segments, effective from March 5.  HDFC Bank hiked auto loan rate by up to 100 basis points.

Kotak Mahindra Bank has hiked interest rates on home loans by 50 bps while Kotak Mahindra Prime has raised auto loans rates by 50 bps from tomorrow.