Rates to remain stable: SBI
By Joseph Samson
Dec 29, 2009
Print    Email    RSS   

The largest Indian lender, State Bank of India (SBI) does not see any change in the interest rates in the near future.

The bank's chairman O.P. Bhatt pointed out that the bank's initiative I the home loan segment had helped both customers and real estate developers.

"We reduced the home loan lending rates to 8 per cent per annum and as a result developers and customers started returning to the market. Other banks were also forced to follow our footsteps," he said.

Bank of India is also likely to announce the 8% home loan offer.

The chairman pointed out that there was enough liquidity in the system and the credit demand was low.

He further said that he did not see any hike in lending rates of the bank in the next six months because of high liquidity in the system. "Banks are not facing any difficulties in providing credit to customers at this point of time," he added.

Recently, SBI has signed an MoU with GM to finance its range of vehicles. According to the memorandum, State bank would provide retail and wholesale financing to customers for purchase of GM India vehicles across 12,150 branches.


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

 Select a product:

Factors to Evaluate before opting for Home...
Tax Deduction on HRA (House Rent Allowance)
Know your home loan better
Credit score from CIBIL: will it really...
Stop worrying for your home loan: Get it...

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