Teaser loans from SBI may see hike in May
By Joseph Samson
Mar 28, 2011
Print    Email    RSS   

The largest lender of the country, State Bank of India may go for increase in interest rates of its much disputed teaser home loans in May. The next rate hike will follow the coming review of monetary policy by Reserve Bank of India in May.

A senior official of the bank however said that in case there is no policy rate hike in the next review, there will be no rise in teaser loan rates.

The teaser home loans offered by SBI had been in question by RBI since quite some time. These loans are a mix of fixed and floating rate where the fixed component of interest rates pertains to the initial 3 years of the loan while the remaining is floating in nature.

"The recent economic survey has also come in support of the rates as they helped in making housing available to a large number of people. So we don't see any reason to discontinue this scheme. However the rates may be stepped up whenever the base rate increases," said the senior official.


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

 Select a product:

Refinancing your home loan: is it a...
Reasons for rejection of loan application
Bank of Maharashtra reduces home loan rates
Carnival of Indian Personal Finance Blogs #2
Carnival of Indian Personal Finance Blogs #6

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