HDFC Bank has further extended its teaser loan scheme till June 30. The bank came up with this announcement a few days after the largest lender of the country, SBI extended its teaser scheme till 30th June.
As per the scheme, HDFC would be offering its borrowers a fixed rate of 8.25% for the first year that is till March 2011. The second year would fetch 9% interest while the interest will be a floating one from the third year onwards. The rates have not been changed since the last time the bank had extended its scheme till April 30.
This offer will be available for those customers who avail atleast part of the loan by June 30, a spokesperson from the bank said.
The scheme had ended last month but it was only SBI which extended the scheme till June 30.
With HDFC again coming back to play it can be expected that other banks would also follow suit as had happended earlier.