State bank of India on Monday launched the new car loan scheme for women borrowers.
Under this, women borrowers can go in for a car loan at reduced rates of 10 per cent per annum. For others, it is offered at 10.25 percent per annum.
SBI named the scheme as 'Her Ghar Her Car', after the success of the Her Ghar product which provided lower interest rates specifically for women home loan borrowers.
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, the bank said in the press release.