The largest lender of the country, State Bank of India has come up with another declaration. The banking major has decided to continue with its teaser loans for both home and car loan segment till September 30, 2010.
With base rate getting implemented, it was presumed that the era of teaser loan would come to an end. But SBI has falsified the presumption by taking the decision to continue with the special scheme.
SBI has set its base rate at 7.5%. Base rate has replaced the earlier BPLR system of lending in order to bring more transparency in the lending mechanism of the Indian banking industry.