SBI extends special home loan scheme

Mumbai, September 29: State Bank of India, the leading Public Sector bank, has extended the special home loan scheme to December 31, 2010.

Under the special home loan offer, customer will get loans at 8 per cent for the first year, and then 9 per cent for the next two years. In the third year it will revert back to the floating rate of interest that would be decided by the bank.

Earlier, the deadline of the scheme was September 30, 2010.

The decision was taken to extend the date after analysis that it would not affect the net margin of the bank.

—Agencies