Banks Woos Female Customers With Cheaper Home, Car Loans

BANGALORE: It is no longer a man’s world now, its women era. Even as EMIs are showing no signs of easing, and in fact, chances are that they may go up, most banks are looking to woo women by offering them various freebies and discounts. Several lenders, including the State Bank of India one of the country’s largest lender and Indian Overseas Bank, have reduced interest rates on home loans for women, while other private sector banks like ICICI Bank have come up with attractive offers for women depositors, reports Business Standard.

Even the government has set up the Bharatiya Mahila Bank to focus primarily on women customers.  Recently Federal Bank had launched a special car loan for women which include a product named ‘She Car’. This product requires women borrowers to pay interest up to 80 basis points lower than the card rate. The main reason behind the bank taking such a step is the rising number of women drivers on the road.