Festival bonanza : PSU banks lessens interest rates on two-wheeler and consumer durables
By Joseph Samson
Oct 10, 2013
Print    Email    RSS   

All public sector union banks ought to search for new methods to offer loans for the purchase of consumer durables during this festival season as they must obey the order of the government. According to the last week statement of P Chidambaram, the Union Finance Minister, the government will allot more funds to PSU banks to make them offer more loans to retail sections on two wheelers and consumer durables at lower interest rates. In his statement, the Finance Minister included that these low interest loans will be offered to those who already availed other loans such as home loan, car loan, etc.

These subsidized interest rate loans will be offered to salary class people also who is maintaining their salary account in these banks. At present, the PSU banks offer loans for consumer durables at an interest rate of 15 % to 16 % for the bank’s non-consumers and at the rate of 12% for the existing consumers. In the same way, two-wheeler loans are provided with an interest rate of approximately 14 % to 18%.

(Comments Posted : 1) Post Your Comments
1. Wow.. this is good news for new two-wheeler buyers. recently all banks reduced their Interest
ravikumar (Posted: Feb 11, 2014)
Show All Comments
 Select a product:

 Select a product:

Loans against Cars: A Quick Solution for...
Effect of employment on loan eligibility...
New Vs. Used Car loan in India: Benefits...
Credit profile and its effect on loan...
Affects of Car Loan Default

Wickr ID :::gblghl2'''''GBL Wheel Cleaner for Sale...
Hello I am looking to renew my car insurance and I...
my loan no

SBH bank extended its Car and gold loan campaign till 31st March, 2015. Feb 11, 2015
KVGB bank signed MOU with TATA Motors Feb 10, 2015
SBH bank extended its scheme offering concession to loan defaulters Feb 2, 2015
Karnataka Bank tied up with TVS motors to Assist Auto rickshaw buyers Jan 27, 2015
RBI extended the Directions issued to Amanath Co-operative Bank for a period of six months Jan 22, 2015
News Archive