Pay higher percentage of vehicle cost upfront to get loan in pandemic

Topics NBFCs | Bank loans | Vehicle Loan

Banks and non-banking financial companies (NBFCs) have become more cautious in offering vehicle loans, fearing a rise in non-performing assets, by making their lending norms more stringent.   Incomes have been disrupted, and, hence, also the repayment capacity of borrowers. Says Adhil Shetty, chief executive officer, Bankbazaar: “Today, there is greater scrutiny of income sources than earlier.”   A few segments might find it harder to get a loan. “Banks have become more stringent about lending to the self-employed because there is greater uncertainty abo.....

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