NEWS & ADVICE : HOME LOANS
Interest Rates kept unchanged: SBI
By Joseph Samson
Nov 23, 2012
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State Bank of India, country's largest public sector lender has decided not to change any interest rates, said Mr. Pratip Chaudhuri.

Mr. Pratip Chaudhuri in an EXIM Bank event said, "There is no change in the interest rates. The base rate stays at 9.75 per cent."

In the earlier press conference, Mr. Chaudhuri hinted at a rate cut saying that the Asset Liability Committee will be meeting in a day or two.

In the cut in the Cash Reserve Ratio in mid-quarter policy review, State Bank of India had cut its rates by 0.25 per cent in mid September.

As a part of festive offer, the bank has already cut its lending rates to 10 per cent o home loans up to Rs 30 lakh and 10.50 per cent for car loans and the festive offer will be valid till the end of December.

Post Reserve Bank of India's policy review on October 31, 2012, none of the commercial banks have so far reduced its lending rates. They have remained unchanged.


 


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