State Bank of Travancore has announced a special scheme for its retail loans and deposits. The 'Aishwaryotsav' scheme is aimed to attract business during the coming festive season. Under the scheme, the bank intends to cut half a percent interest rates on home loans and car loans.

The customers can avail benefits of the scheme up to September 30, 2012.

In addition to reduction of interest rates, the bank also reduced margin for loans by 5%. The processing fees for the loans will also be waived off during the period. The finances home loans up to Rs. 3 crore, while the upper limit for car loans is Rs. 30 lakh.

The bank also announced a special deposit scheme to commemorate its 67th anniversary which coincides with the festival of Onam. The deposit scheme would be available for both domestic and NRE customers. A special 670 days only deposit would be available till September 15 and give a return of 9.5% per annum.

Customers can find further details by calling toll free number 18004255566 or on the bank's website www.statebankoftravancore.com