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SBI cuts interest rate on car loans for women borrowers

 The Hawk |  2015-06-02 08:50:39.0  0  Comments

Mumbai: The country's largest lender State Bank of India Monday said it has reduced interest rates on car loans by 25 basis points for its women home loan borrowers. The bank is offering the concession under the 'Her Ghar Her Car' loyalty scheme. "Under this, 'Her Ghar' borrowers can go in for a 'Her Car' loan at reduced rate of 10 percent per annum," the bank said in a statement here today. Car loans to non 'Her Ghar' borrowers would continue to be at 10.25 percent per annum, it said. In April this year, SBI had reduced interest rates on home loans for new women borrowers under the 'Her Ghar' scheme by 25 basis points to 9.85 percent from 10.10 percent. Meanwhile, the bank also launched mCash, which will help its customers to transfer money to anyone without knowing their bank account details irrespective of whether the recipient banks with SBI or not. PTI

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