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SBI freezes new car loans @10%, agri loans @8%

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Press Trust of India Mumbai
Last Updated : Jan 19 2013 | 11:16 PM IST

The country's largest public sector lender, State Bank of India, today said it will freeze interest rates on new car loans at 10 per cent for a period of one year.

The bank also slashed lending rate on credit to farmers against cold storage and warehouse receipts to 8 per cent, a bank release issued here said.
  
The new rates will be applicable to all customers availing loans between February 23 and May 31, 2009, the bank said.

After the freeze-period, the rates will be reset at the applicable card rate contracted as on the date of sanction under the respective schemes, the bank said.

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First Published: Feb 20 2009 | 6:42 PM IST

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