I took a car loan from SBP (State Bank of Patiala), I thought it is govt bank so there will not be any deception. But I was totally wrong. They gave me a nice loan package of 9.5% in 1st year and 10.5% in subsequent years. As soon I took the loan, within few months the rate of 9.5% went to 11% and now as I entered the second year it got increased to 12%. When I complaint about this, they said it is floating and it was based on card rate.
Please note that for new customers the card rate is different (effective ROI is 11.25%)