HDFC Bank may up auto loan rates

Private sector lender HDFC Bank is likely to raise interest rates on auto loans 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 Senior Executive Vice-President Ashok Khanna told PTI here. Kotak Mahindra Bank’s Head of Consumer Banking KVS Manian said,“There is pressure to raise our interest rates on vehicle loans but we have not yet taken a decision on it,”