SBI clarifies: no plans to withdraw special home loan scheme

Almost all the news paper published news that State Bank of India (SBI) might withdraw its special home loan schemes. Country’s largest lender SBI sources has clarified that it has no plans to revise its most popular home loan scheme under which it is charging 8 per cent interest for the first year.

The bank source has issued the clarification in view of reports published in various newspapers stating SBI might withdraw the scheme from November 7.

The bank added, “News reports have been appearing in various newspapers across the country indicating that SBI plans to withdraw its special home loan schemes carrying an interest rate of 8 per cent for the first year of the repayment period. SBI has no immediate plans to revise interest rates on home loans”.

Bank had launched the scheme in February after which other banks due to increasing pressure followed the suite. SBI is giving the same offer for auto loans too.

Earlier when SBI announced the scheme in February, the offer was valid till April-end; later on the scheme was extended till September. The bank has further extended the scheme but has not set any deadline for its closure.