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Home, car loans get costlier in New Year
in Current Affairs & Latest News
Faced with rising cost of funds, State Bank of India and ICICI Bank—the country's top two lenders—on Friday announced a hike in lending rates for existing as well as new customers, while HDFC Bank and Kotak Mahindra Bank limited the increase to new customers.
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    When delinquency rates on car loans rise, banks are forced to raise interest rates in order to insure that their car loans are profitable
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    Very surprised to know that and why such increase suddenly. :)
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    Oh! Is it so?.At least for existing customers some concession may be given.
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