The State Bank of Travancore, a subsidiary of SBI, has extended the period of its Aishwarya Home Loan scheme up to March 31, 2010. The bank, however, has reintroduced the processing fee.
According to the scheme, home loans offered during the period would attract an interest rate of 8 per cent (fixed) during the first year, 9 percent (fixed) for the next two years for up to 30 lakh and at 9.5 percent (fixed) for loans above Rs. 30 lakh.
The interest rates for the remaining tenure will be at 2.5 percent below prime lending rate for loans amounting to Rs. 30 lakh and at 2 percent below prime lending rate for limits above Rs. 30 lakh.
SBT withdrew its Aishwarya Car Loan scheme. SBT car loan scheme will now be available at normal rates with processing charges.
The normal rates of the bank car loan scheme vary between 11 percent and 11.25 percent for tenure up to 7 years.
The parent bank, SBI has also extended its 8 percent home loan scheme till March 31st, 2010. the scheme was supposed to end on November 7and there were reports stating that the bank might withdraw the special home loan offer.