GE Money revises interest rates on mortgages

New Delhi, Apr 29: GE Money, the consumer finance unit of the General Electric Company (GE) has announced an increase in its benchmark floating reference rate by 0.90 per cent, to 15.25 per cent from 14.35 per cent effective from April 16.

This increase is on account of changed financial market parameters with respect to borrowing costs, the company said in a statement.

It has a retail distribution network in over 5,500 outlets across 70 locations and deals products including car finance, two wheeler finance, consumer durable finance, personal loans and loan against property and home loan.

The company has a joint venture with State Bank of India with 2.3 million cardholders.

UNI