dena bank car loan india

Dena Bank raises Rs 1.25 bn via hybrid bonds

Dena Bank has raised capital funds to augment long term resources of the bank and to meet its future capital adequacy ratio requirements by way of innovative hybrid tier I perpetual bonds in the nature of debentures on private placement basis for an amount of Rs 1,250 million including green shoe option of Rs 250 million.

The bonds are carrying a coupon of 10.05% p.a. rate payable annually and are perpetual in nature with a call option with the bank exercisable at the end of tenth year from the date of allotment & call option if not exercised then coupon shall step up by 50 basis points and shall become 10.55% p.a. thereafter.

CRISIL has assigned `A/ stable` (pronounced as `A stable with stable outlook) and FITCH Ratings has assigned `A(ind) National Rating to the perpetual tier I debt programme of the bank. Save your money to get invested in useless EMI's so always compare car loan rates before you go ahead.

The issue opened for subscription on Dec. 20, 2007 and fully subscribed including green shoe option of Rs 250 million and closed for subscription on the same day.

car loan india news...

The worst is behind us in insurance sector - Economic Times
The worst is behind us in insurance sector Economic Times The times may be challenging but everyone feels the worst is behind us, especially in India. Vehicle sales are looking up, housing loans have started ... and more » - 10 hours ago
10 years of light and shadow - Times of India
10 years of light and shadow Times of India India finds herself about to produce the Tata car, which could prove to be a pollution nightmare. As always, the balance must be struck between economic ... - 36 minutes ago
ICICI Bank to raise Rs 4000 cr in Tier-I, II bonds - Business Standard
ICICI Bank to raise Rs 4000 cr in Tier-I, II bonds Business Standard During the six months ended September 30, the bank made loan-loss provisions of Rs 2395 crore as against Rs 1716 crore in the corresponding period of the ... and more » - 2 days ago
Cheaper loan rates trigger spurt in car sales growth - Livemint
Cheaper loan rates trigger spurt in car sales growth Livemint New Delhi: India's passenger car sales rose the most in more than five years in November as cheaper loan rates and economic expansion lifted demand for ... On Back of Growing Economy, Car Sales across India Recorded Highest Rise in 5 ...Stock Watch all 100 news articles » - 3 weeks ago

Dena Bank ties up with ECGC

Public sector lender Dena Bank on Tuesday said it has tied up with Export Credit Guarantee Corporation (ECGC) for marketing insurance-oriented products to exporters through its network of branches.

"The tie-up with ECGC would be beneficial for our exporter customers, who would get insurance protection against payment risks under various ECGC policies at our branches," Dena Bank Chairman and Managing Director P L Gairola said in a statement here.

Dena Bank was presently positioning itself as a financial supermarket to provide its customers a wide range of products and services, including insurance and mutual funds, with better access and greater convenience to different customer segments.

How To Get The Best Deal On Car Loans - Do it Online!

Car loan interest rates are getting very competitive nowadays as increasing number of people are opting for online auto loans. Companies providing online auto loans have proved themselves the best option by offering Compare car loan rates and easy repayment terms.

These loans are usually approved faster than the other loans- bank and dealers loans. The competitive auto loan providers usually have a one-page application form where you have to enter information like,

Basic Information:

# Your name

# Your address

# Your telephone number (landline and mobile)

# Email id

# Date of Birth

# Social Security Number

Employer Information:

# Employer Name

# Gross Annual Salary

# Job Title

# Years of Experience

Loan Details

# The type of loan

# The amount required

# The duration - usually in months

There are companies that help you find the cheap car loan rate available in your city based on the information provide by you. They, however, do not guarantee that the companies will be responsible and genuine in all their dealing. This is where you have to do some research and use your discretion. The internet has made life easier for every person. You do not need to run around office-to-office enquiring about the best auto loans in your city. Not only can you get low interest car loans, but also fast approval car loans from the banks of your choice via the online network.

Dena Bank rule out merger with SBI

Public sector lenders Dena Bank and UCO Bank on Tuesday ruled out their merger with market leader State Bank of India.

"It is totally baseless. It seems to be some rumour," UCO Bank Chairman and Managing Director S K Goel told PTI when asked about reports that SBI was contemplating acquiring the two banks, besides the ongoing integration of the associate banks with itself.

Such an issue has never come before the board for discussion, he said.

Dena Bank, on the other hand, debunked the report saying these were "not correct" and it had no knowledge if SBI had any discussions with others about any merger proposal.

Daimler out of race for India's Eicher stake

Daimler has pulled out of the race for a stake in Indian bus and truck maker Eicher Motors Ltd, the Business Standard said on Sunday.

That has left Volvo, Renault, Mahindra International, a joint venture of Mahindra & Mahindra Ltd and Navistar's International Truck and Engine Corp, and "some other unidentified companies," it said.

"We were in talks with Eicher, but we are not looking at having any partnership. We are not interested in that company," the paper quoted a Daimler India executive as saying.

Eicher Motors has said it is evaluating partnership options.

Daimler, which recently began assembling some Actros trucks in India, has said it was very close to naming a local partner. It makes buses in India in partnership with Sutlej Motors Ltd.

Car loans not as steep as you think

Delaying your car purchase because interest rates are too high? Maybe you are looking in the wrong places. A survey of comparative interest rates shows that if you look around, you can get yourself a car loan at the old rates. Especially, if you are buying a used car.

The survey shows that you can obtain new car loans at least one to two per cent cheaper on an average if you go to the right bank - usually a public sector bank - and as much as 3-5 per cent cheaper in the case of used cars (see table). At the bottom end, rates for three-year loans on used cars can be as low as 11 per cent; at the top end, they can be prohibitively high at 22 per cent.

Dena Bank reduces fixed, floating interest rates on home loans

Public sector lender Dena Bank today reduced its interest rates by 0.50 per cent on fresh housing loans in both the fixed and floating interest rates categories.

The reduced rate will be applicable on fresh housing loans sanctioned from October 10 till December 31, 2007, the bank said in a statement today.

In the floating rate category, the new interest rates range from 9.25 per cent to 10.50 per cent while in the fixed rate category, they range from 9.75 per cent to 11 per cent depending on the loan amount and tenure, the bank said.

Eicher, Dena Bank join hands for farm finance

Eicher Tractors has entered into an agreement with Dena Bank for retail financing of tractors to farmers. Under the agreement, farmers would get a number of benefits including cheaper loans.

Against the norm of 15-25 per cent margin money for tractors, Dena Bank would finance tractors manufactured by Eicher with lower margin money of 5 per cent for loans up to Rs 2 lakh and 10 per cent for loans over Rs 2 lakh and up to Rs 5 lakh.

Even the land holding requirement has been reduced from existing 8 acres of perennially irrigated land to 4 acres of perennially irrigated land and the loans are being provided for 7-9 years tenure.

Dena Bank reduces Rates Retail Loans

Public sector lender Dena Bank today reduced its interest rates by 0.50 per cent on fresh housing loans in both the fixed and floating interest rates categories.

The reduced rate will be applicable on fresh housing loans sanctioned from October 10 till December 31, 2007, the bank said in a statement today.