State Bank of India, the largest public sector bank in the country, has recorded a slowdown in personal loans due to high interest rates.

Sitaramam Komaragiri, deputy managing director & group executive, national banking, SBI, said that this year bank has seen a 5-10% slowdown in personal loans.

On launch of a tie-up with MasterCard Mr. Komaragiri said, “We have seen a slight slowdown in personal loans. However, there has not been any decline in home and auto loans. Deposit growth has been healthy at 25-26% so far in the second half of the year (started October) but retail (credit as well as deposit) growth has picked up in the second half.

Delinquencies in the personal loan segment were steady at 3-4%, Komaragiri said by adding that SBI is preparing to launch a venture fund next year.

Deepak Chawla, deputy managing director, corporate strategy and new businesses, SBI said, “We are still doing due diligence for the venture fund and are open to partners. The pension business will start in another 3-4 months.”