BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the maximum Digital Auto Loan Limit
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Rs. 20 lakh
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Rs. 3 cr
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Rs. 50 Lakh
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Rs. 5 cr
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Explanation:
Detailed explanation-1: -You can get a Car Loan up to Rs 3 crore.
Detailed explanation-2: -The law says that the most a lender can charge for an auto loan are about 16% APR, but some lenders get away with 25% or more. Your annual percentage rate (APR) for a car loan depends on your credit score and whether you want a new or used car. A used car’s APR will be higher than a new car’s.
Detailed explanation-3: -Most banks offer financing up to 90% of the on-road price of the car but there are some banks such as HDFC Bank, etc., that offers financing for up to 100% of the car’s on-road price.
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