State Bank of Bikaner and Jaipur (SBBJ), Jaipur-headquartered bank is planning to offer loans to students and small and medium enterprise (SME) online. It is already offering home and car loans online so customers are gradually getting accustomed to the concept of applying retail loans online. So, the bank plans to extend the concept to other products.
At present, the bank is offering interest rate concession of 10 basis points to customers applying home loans online, means they get loans at 10.40% interest against the card rate of 10.50%. Similarly, SBBJ is offering customers applying car loans over Rs 10 lakhs online a 25 basis points concession -- that is they will get loans at 10.25% interest against the card rate of 10.50%.
