[xBhp Universal Thread]: Bank Loan and deals

[jkdas]

Hope this helps for those who are looking for loans.

The following is what I was quoted by a TVS dealer at Trivandrum.

Bike - Apache RTR 180 :77,551 OTR

Loan- TVS Credit ( dealer has a rep there, they also have HDFC guy there)

Loan details

• Initial payment : 45,056
• EMI 1954 x 23 months
• but have to take insurance from them for the second year too

Bike - Apache RTR 180 ABS :87802 OTR


Loan details

• Initial payment : 45,420
• EMI 2527 x 23 months
• but have to take insurance from them for the second year too
• You pay an extra of 15,730 Rs for this deal

Bike - Apache RTR 180 ABS :87802 OTR


Loan details

• Initial payment : 45,237
• EMI 3299 x 17 months
• but have to take insurance from them for the second year too
• You pay an extra of 13518 Rs for this deal

[sunilg]

Universal Topic approved.

[trustvishwas]

Originally Posted by jkdas

Bike - Apache RTR 180 :77,551 OTR

Loan- TVS Credit ( dealer has a rep there, they also have HDFC guy there)

Loan details

1.Initial payment : 45,056
2.EMI 1954 x 23 months
3.but have to take insurance from them for the second year too

For the loan of Rs.32,495, looking at the EMI, the interest rate works out to 35% pa

Originally Posted by jkdas

Bike - Apache RTR 180 ABS :87802 OTR


Loan details

1.Initial payment : 45,420
2.EMI 2527 x 23 months
3.but have to take insurance from them for the second year too
4.You pay an extra of 15,730 Rs for this deal

For the loan of Rs.42,382, looking at the EMI, the interest rate works out to 33.5% pa

Originally Posted by jkdas

Bike - Apache RTR 180 ABS :87802 OTR


Loan details

1.Initial payment : 45,237
2.EMI 3299 x 17 months
3.but have to take insurance from them for the second year too
4.You pay an extra of 13518 Rs for this deal

For the loan of Rs.42,565, looking at the EMI, the interest rate works out to 39% pa

Are you sure, you want to opt for such high interest loan?

If you opt for a loan from any nationalised bank, you can get it around 14 - 14.5% pa and the EMI in above cases would be

1 Rs.1627
2 Rs.2122
3 Rs.2784

Similar would be the case for insurance. You can easily get similar policy cheaper by at least 30% (which is dealer margin) if you go directly to insurance company.