Wednesday, July 28, 2021
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SBI cuts interest rate on car loans for women borrowers

The country’s largest lender State Bank of India 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 today.

Car loans to none ‘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.

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