After the Her Ghar loan product, country’s largest bank State Bank of India launched ‘Her Ghar Her Car’ loyalty scheme offering reduced interest on car loans.
“Under this scheme, ‘Her Ghar’ borrowers can go in for a ‘Her Car’ loan at reduced rates of 10 per cent per annum... Her Ghar Her Car is an addition to products available with SBI wherein concession in rates have been introduced with the objective of reaching out to women in the country and empowering them to take decisions that can change the course of their family and society at large,” SBI said in a statement.
SBI cut its base rate in April to 9.85 per cent.
Car loans to borrowers who have not taken loans under ‘Her Ghar’ scheme would continue to be at 10.25 per cent per annum.
The original ‘Her Ghar’ scheme provided a concession in interest rates for women home loan borrowers.