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View Full Version : ICICI slashes car loan rate by 1% to 10.5%



v.r.s.nathan
07-01-2010, 02:22 AM
ICICI Bank is said to have cut interest rates on car loans to 9.75-10.5% from 10.5-11.5%. As these are rack rates, the customer may now get a loan at around 9%, as dealers pass on some of their commissions to customers.

The new rates, which is 50-75 basis points lower than rivals such as HDFC Bank and Axis Bank, may force other lenders to cut their rates to avoid losing market share.
Source - economictimes.com (http://economictimes.indiatimes.com/personal-finance/loan-centre/auto-loans/auto-loans-news/ICICI-slashes-car-loan-rate-by-1-to-105/articleshow/5418190.cms)

abhijeet06
08-01-2010, 01:41 AM
Rack Rate[/url] Anybody put - what is the meaning of Rack Rate?

Master
09-01-2010, 12:35 AM
Anybody put - what is the meaning of Rack Rate?
This is what get on :google_logo:
Eg - Full hotel room price before discounts: the full price chargeable for a hotel room before any discounts.