Central Bank, public sector lender is likely to introduce a combo loan offer. As per the combo loan offer, customers will get a car loan without the processing fee, who has availed a home loan within the fortnight. The bank will also slash its deposit rates further soon, to enable it to lower its lending rates.
The bank has taken this decision as a home buyer looks for a new car too and it can fund the car as bank already knows the customer. Also, credit growth has been a trickle so far this year.
Several other public sector lenders such as State Bank, UCO Bank, Corporation Bank, Union Bank, United Bank, etc, have already come out with combo loan offers ahead of festive season.
