1.05.10 In a move seen as very aggressive, SBI extended the teaser loan scheme on housing loans till 30th June even as ICICI bank has closed the scheme on the 30th April. HDFC is still to make any announcement on the same. In the teaser rates scheme, interest rates will be pegged at 8% for the first 3 years and thereafter will be aligned with the prevailing scenario. SBI feels that the going easy liquidity conditions allow it the flexibility to continue the scheme thereby indicating that if liquidity continues be to be fair, it may even prolong the scheme after 30th June as well. RBI on its part has not been an enthusiastic proponent of these teaser rates by major banks.
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