HDFC Bank May Up Auto Loans Interest Rates

Private sector lender, HDFC Bank, is likely to raise its auto loan interest rates by 0.50 per cent in the next 7-10 days, a senior bank official said on Friday.

"Borrowing rates have gone up, we are likely to raise our rates (auto loans) by 0.50 per cent in the next 7-10 days," HDFC Bank's Senior Executive Vice-President, Ashok Khanna, told media here today.

Another private sector lender, Kotak Mahindra Bank, is also feeling the pressure to raise its auto lending rates, one of its senior officials said. "There is a pressure to raise our interest rates on vehicle loans but we have not yet taken a decision on it," Kotak Mahindra Bank's Head of Consumer Banking, K V S Manian, said.