Home loan rates to see upward movement: SBI
By Joseph Samson
Jan 5, 2011
Print    Email    RSS   

The nation's largest lender, State Bank of India has indicated that a rise in home loan rates can be expected in the near future. Shortage of cash may lead to the bank taking such a move, said Chief Financial Officer S S Ranjan.

The bank has increased its benchmark lending rate (base rate) by 40 basis points taking it to 8%.

The major reason accounting for the shortage of cash on the part of banks has been the liquidity tightening measures adopted by Reserve Bank of India to tame the wild rise of inflation. RBI has raised policy rates six times in the year 2010.

According to Ranjan, credit expansion of the bank is expected to reach 18% by the end of this fiscal.

The bank will also be setting up its first branch in Doha in the first quarter of 2011, informed a senior bank official.

"The new office should start functioning by March," Satyajit Pratap, CEO-designate for the branch said.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Home Loans: How to reduce your floating rate
Home loan rates likely to remain stable
Admissible deductions under Section 80C
What should you do if interest rates are...
Save tax with ELSS

PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive