142,405+ Members
   Get Started   Latest Posts Search Today's Posts Mark Forums Read
IREF® Real Estate in India - Property Discussion
IREF® - Indian Real Estate Forum > Real Estate Open House > Home Loans in India > State Bank hikes prime and home loan rates
Reply
 
LinkBack Thread Tools Search this Thread
Old February 20 2007, 12:53 PM   #1
New Member
 
Join Date: Oct 2006
Posts: 8
Likes Received: 0
Likes Given: 0
Default State Bank hikes prime and home loan rates

The country's largest commercial bank, SBI, announced a hike in its benchmark prime lending rate by 75 basis points, the highest by any bank so far in the latest round of rate hikes. The hike includes home loans, excluding existing loans falling under the priority sector.
This is a first instance of a public sector bank revising upwards its home loan rates .
SBI's rates have been revised upwards from from 11.5% to 12.25% with effect from feb 20. The bank has also raised its deposit rates to 9.75%, which is 25 bps for tenures between four and five years , and to 8.75% , 50 bpshigher, for tenures of five to ten years, for alimited period upto march 31.
Existing housing loans under priority sector, all existing education loans, agricultural production loans less than Rs. 3 lakh, and new education loans upto Rs. 4 lakhs stand excluded.

 
Reply
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Join IREF Now!    
Related Threads
Home loan greater noida -w (ne) state bank of patiala
SBI hikes home loan tenure to 30 years
Home, auto loans to become costlier as RBI hikes key rates !!
ICICI Bank hikes lending rates by 50 bps
Indian Bank home loan rates up


Tags
bank, hikes, home, loan, prime, rates, state
"..", ".."India