SBOP extends special home and car loan scheme

State Bank of Patiala has announced extension of its concessional home loan rate scheme under and 'Ezee Car Loan Scheme' under which it is offering 8 per cent, till December 31 this year.

A spokesman at the head office informed under the House Loan Scheme, the bank is offering fixed rate of 8 per cent for the 1st year and 9 percent for 2nd and 3rd year thereafter the prevailing base rate will be applicable. The maximum tenure of the loan is 25 years.

He said under its Ezee Car Loan Scheme for new cars, bank is offering fixed rate of 8 percent for the 1st year and 10 per cent for 2nd and 3rd year, thereafter the prevailing base rate will be applicable. For this maximum tenure is 7 years.

Under these special schemes bank will not charge any prepayment penalty if the borrower want to pre-pay the loan at the time of reset.

He told, the special schemes on home and car loan have been extended to make possible house /car loan available at affordable rates to general public.