The Central Bank of India has indicated further cut in it's their deposit rates which will further enable them to lower their lending rates. The bank is also planning to up with combo loan offer within a fortnight ahead of festive season.
"As liquidity is comfortable, we will soon cut the pricing of our liabilities shortly, which will be followed by a base rate cut," said M.V. Tanksale, Chairman and Managing Director of the bank.
Mr. Tanksale further said that the bank will also be launching a combo loan offer within the fortnight in which the customer who have availed home loan will be getting a car loan without the processing fee.
Chairman, Mr. Tanksale talking about the fundamental reason behind this offer said that in normal case, a person purchasing home also wants a new car So in this the bank can fund his/her car as they already know them. And they also need to increase their lending in order to meet up their fiscal target.
Several other banks like State Bank of India, Union Bank, United Bank, etc, have already come up with combo loan offers.