State Bank of India on Friday said that it will freeze the interest rates on new car loans at 10 per cent for a year. The bank said that the new rates will be applicable to all customers availing loans between February 23, 2009 and May 31, 2009. After the freeze-period, the rates will be reset at the applicable card rate contracted as on the date of sanction under the respective schemes, the bank said.
Another important thing to remember is that SBI will be the sole booking agent for Tata Nano.
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