State Bank of India on Tuesday said its car loan disbursals almost doubled to Rs 900 crore in August, following an interest rate cut.
The disbursals jumped to Rs 900 crore from the earlier Rs 550 crore in July on the back of 0.50 per cent cut in its auto loan offering, chairman Pratip Chaudhuri said.
He said the rise in advances has been observed even as the nation's largest carmaker Maruti Suzuki's production has dipped due to internal issues.
SBI cut interest rates on auto and home loans in the first week of August, after the Reserve Bank cut the SLR (statutory liquidity requirement) holdings which was preceded by a raising of limits on export refinance.
Both the moves made additional liquidity available for the bank which the bank decided to pass on, without announcing a cut in its base rate or the minimum rate of lending. "The home loan impact will take some time to come, but car loans have gone up significantly," Chaudhuri said.
The disbursals jumped to Rs 900 crore from the earlier Rs 550 crore in July on the back of 0.50 per cent cut in its auto loan offering, chairman Pratip Chaudhuri said.
He said the rise in advances has been observed even as the nation's largest carmaker Maruti Suzuki's production has dipped due to internal issues.
SBI cut interest rates on auto and home loans in the first week of August, after the Reserve Bank cut the SLR (statutory liquidity requirement) holdings which was preceded by a raising of limits on export refinance.
Both the moves made additional liquidity available for the bank which the bank decided to pass on, without announcing a cut in its base rate or the minimum rate of lending. "The home loan impact will take some time to come, but car loans have gone up significantly," Chaudhuri said.
I am Mrs.Sandra Bents from Germny, God has bless me with two kids and a loving husband, I promise to share this Testimony because of God favor in my life,2months ago I was in desperate need of money so I thought of having a loan then I ran into wrong hands who claimed to be a loan lender not knowing he was a scam. he collected 2,000USD from me and refuse to email me since. then I was confuse, but God came to my rescue, one faithful day I went to Court after the Case of my friend I share idea with a friend and she introduce me to ERIVAN LOAN COMPANY, she said she was given 50,000USD by MR ERIVAN , THE MANAGING DIRECTOR OF ERIVAN LOAN COMPANY . so I collected his email Address ,he told me the roles and regulation and I followed, then after processing of the Documents, he gave me my loan of 30,000POUNDS .you can contact him on via email : (erivanloancompany@yahoo.com) I am sure he will help you.
ReplyDeleteI will recommend anyone looking for Business loan to Le_Meridian they helped me with Four Million USD loan to startup my Quilting business and it's was fast When obtaining a loan from them it was surprising at how easy they were to work with. They can finance up to the amount of $900,000,000.000 (Nine Hundred Million Dollars) in any region of the world as long as there 1.9% ROI can be guaranteed on the projects.The process was fast and secure. It was definitely a positive experience.Avoid scammers on here and contact Le_Meridian Funding Service On. lfdsloans@lemeridianfds.com if you looking for business loan,Thanks.
ReplyDeleteLeslie,