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Banks cut interest rates on some home loans
Monday, 15 December 2008, 21:28 IST |
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Mumbai: State-run commercial banks Monday cut interest rates on home loans up to 
2 million (20 lakh/$40,000), with several other benefits like nil processing fee and free life insurance.
Home loans of up to 500,000 will invite an interest rate of 8.5 percent and those up to 2 million will attract an interest rate of 9.25 percent, State Bank of India (SBI) chairman O.P. Bhatt told a press conference here.
The incentives, being offered by all public sector banks, will be available till June 30, 2009, he added.
Source: IANS
2 million (20 lakh/$40,000), with several other benefits like nil processing fee and free life insurance.
Home loans of up to 500,000 will invite an interest rate of 8.5 percent and those up to 2 million will attract an interest rate of 9.25 percent, State Bank of India (SBI) chairman O.P. Bhatt told a press conference here.
The incentives, being offered by all public sector banks, will be available till June 30, 2009, he added.
Source: IANS