HDFC auto loans going cheaper

HDFC bank is going to lower interest rates up to 150 basis points on vehicle loans from last week of January .The news of cutting in the interest rate came in the aftermath of the announcements of interest rate cuts by many big banks of this sector.
According to HDFC bank passenger car loans and commercial vehicle loans will be cheaper by 125 basis points .This news came as a booster for auto industry which was feeling heat of recession .Car sales gone down after the economic crisis in US and many other countries. Good news for two-wheeler loan seekers also because the bank has decided to lower interest rates on two-wheelers by 150 basis points.