Auto loans and home loans offered at relatively lower interest rates
By Joseph Samson
Nov 19, 2012
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Due to the rising competition among public sector banks are planning to boost up their retail business which includes auto, home, education and personal, they might cut down their interest rates to entice more customers.

According to Mr. Saday Sinha, Vice President, Equity Research, Kotak Securities, banks would soon cut their interest rates marginally to shoot up demand and grow their retail book.

For instance, State Bank of India recently lowered their lending rate by cutting down its prime lending rate and the base rate by 25 basis points to 14.50 per cent and 9.75 per cent respectively.

And along with this SBI has also cut its home loan rate to 10 per cent for loans up to Rs 30 lakh and 10.12 per cent for above Rs 30 lakh.

Other banks have also revised their interest rates on retail advances as a part of its festive offers. The banks prefer retail segment lending due to comparatively lower risks. According to Mr. Sinha, banks might have to face lower growth by focusing on retail advances.


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