Indian largest lender, State Bank of India (SBI) started a mobile publicity van displaying its home loan products in Sector-5, Panchkula, Chandigarh.

Home loan products named SBI happy home and SBI life style will be publicized by this van that will visit to places in and around Panchkula for one month starting from February 25th. All the material that will explain the scheme details would be available in the van.

The public can avail information regarding these schemes and also seek clarification on their queries. The general manger of SBI, zonal office Chandigarh, V Murali said that they expect a nice respond on such a service and also on the loan products publicized through this van.

Both the schemes of the bank are available at 8% interest rate for a duration of one year. Besides there is no processing fee that will charged on these schemes.

SBI happy home loan will be extended to those customers who want to avail a home loan and SBI life style will be help home loan borrowers to get a loan at 8% fixed interest rate and meet the short term expenses of the borrowers that will facilitate a comfortable lifestyle. Expenses including vacation travel, purchase of gold and lifestyle goods will be served by this loan.

"This is good opportunity for those paying high interest rate to switch over to lower rate with SBI. State Bank of India has also reduced interest rate on new car loans to 10% per annum for a period of a year," siad Murali.

SBI had already announced a home loan scheme with 8% fixed interest rate for one year for the new borrowers.