SBI low interest home loan scheme continues

November 9, 2009 

There is good news for home buyers.
The country’s premier bank, State Bank of India, has clarified
that it will not discontinue its special home-loan scheme in
which it charges an interest rate of 8% in the first year of the
repayment period.
As RBI is likely to pursue tight-money policy to contain
inflationary expectation in the country, there are apprehensions
that banks will increase their home loan rates sooner than later.
However, SBI, in a statement, said it does not have any immediate
plans to discontinue its special schemes for home loans.