PSU Banks to woo customers with cheaper loans this festive season

Due to intense competition in the consumer banking, banks are planning to woo individuals with cheaper loans even as interest rates are on the rise. Consumer loans,car loans could be now available at lower rate, even some bank may relax the margin requirements for the customers,it is learnt.Mr. Kamath,CMD, PNB says the bank is planning to lend at lower rates to small borrowers.Car loans, home loans at a fixed rate would be cheaper. However, private banks are not in a mood to bring down the loan rates.(ET 28082010)