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SBI cuts interest rate on car loans for women borrowers

SBI cuts interest rate on car loans for women borrowers

"Under this, 'Her Ghar' borrowers can go in for a 'Her Car' loan at reduced rate of 10 per cent per annum," the bank said in a statement here on Tuesday.

PTI
  • Mumbai,
  • Updated Jun 2, 2015 12:45 PM IST
SBI cuts interest rate on car loans for women borrowersThe bank is offering the concession under the 'Her Ghar Her Car' loyalty scheme. (Photo: Reuters)

The country's largest lender State Bank of India on Tuesday 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 per cent per annum," the bank said in a statement here on Tuesday.

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Car loans to non 'Her Ghar' borrowers would continue to be at 10.25 per cent 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 per cent from 10.10 per cent.

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.

Published on: Jun 2, 2015 11:02 AM IST
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