Haryana State Coop. Apex Bank ltd. (HARCO Bank) has reduced interest rate on car loans from 11.50 per cent to 10 per cent per annum for the State, Centre and UT Administration employees and their organisation. Haryana Minister of State for Cooperation, Bikram Singh Yadav on Friday said that this interest rate is lowest as compared to interest rate of other banks.
Yadav said that in addition to reduction in interest rate on car loans, bank is also having schemes like housing loan, personal loan, consumer loan etc at attractive rates. He said that the bank is offering highest interest rate of 9.60 per cent per annum to senior citizen and 9 per cent per annum for general public for deposit of one year and above period. This is the highest interest rate on deposit being offered by any bank, he added.
He also said that HARCO bank has disbursed crop loan of Rs6,423.40 crore up to December, 2014 to the farmers through District Central Coop. Banks in the state during current financial year. HARCO Bank is providing banking and credit facilities to its customers through a network of 13 branches and two extension counters situated at Chandigarh and Panchkula.