Indian Bank has launched special home and auto loan scheme in order to cash in the festive fervor and to boost demand for retail credit. Under the special combo scheme, customer availing home loan will be charged base rate and will also be offered vehicle loan and consumer durable loan at the discounted rate of 10.20%.
Besides, the bank has also decided to waive processing charges for all retail loans for a limited time period.
In order to stimulate demand and combat slowdown, the government had decided to provide additional funds to the PSU banks to enable them extend more credit to auto and consumer durables sectors.