The largest lender of the country, State Bank of India has negated the idea of revamping the teaser loan scheme for home loans again.

The question arose following the recent revival of the loan scheme by lending major ICICI Bank last week.

"Right now there is no plan for that," SBI Chairman Pratip Chaudhuri said.

Chaudhuri commented on the past experience of the bank's teaser loan scheme and RBI's objection to the same saying, "the loan that we had earlier, in spite of lots of our persuasion with the Reserve Bank, they called it a teaser loan."

"Today our home loan products are widely accepted and there is no shortage of demand for them. Our home loan portfolio is growing in the same way as was earlier. Borrowers are aware that these are the times of floating rates and that the rates will go up sometime and then will go down," he added.

"Even our competitors have launched the fixed rate product only for two to three years after which the loan becomes floating. As of now, we have no plans to launch a dual rate loan," he said.