Mumbai:Private sector lender HDFC Bank today said it has reduced interest rates on personalloans in the run-up to the Diwali festival under which a government employee can avail of credit at as low as 11.5 percent rate.
Under the special festive scheme, applicable till November 30, government employees and defence personnel will get an interest waiver up to 4 percent, the bank said in a release issued here.
Those having salary accounts with the bank will get a concession of up to 3 percent on the interest and a discount on processing fee, it said, without specifying the exact discount.
The bank's current rate of lending for unsecured personal loans varies between 15.5-22 percent per annum, a company spokesperson said.
Source: PTI
