SBI hikes home loan rate

Image via Wikipedia
State Bank of India (SBI), the largest bank in India has raised interest rates on home loans. Although the bank will continue with its 8% teaser rate for the first year, it has increased rates for the subsequent years, effective April 1. Till March 31, SBI had two schemes — The Easy Home Loan (up to Rs 50 lakh) and Advantage Home Loan (above Rs 50 lakh). ‘‘ From April 1, both the schemes have been merged and extended for a month,'' an SBI spokesperson confirmed to TOI. ‘‘ The rates applicable for new loans sourced from April 1 till April 30 are 8% for the first year, 9% for the second and third years and floating rate at 1.75% below SBAR (SBI's equivalent of prime lending rate, or PLR) thereafter ,'' the spokesperson added
Source : News Reports
0 comments:
Post a Comment
All comments are moderated. Please post no spam